Advisor Case Studies: Embarking on a New Mission
Gary Hirschberg loves helping people. Especially when it comes to their financial lives. So when he founded the RIA firm, Aaron Wealth Advisors, he knew that he would finally have the control to let ethics and principles be the driving force. Five years later, he’s built a thriving firm, elevated by those fully experienced in the ultra-high-net-worth space, including Schwab.
The path to the independent RIA model is different for everyone, and Schwab Advisor Services can help you evaluate your options and pave your way forward.
To read Gary’s story and see how independence could open up the opportunity to follow your values, download the case study below.
Solving for your clients’ most complex needs as independent RIAs
Jason Fertitta may have Houston roots, but he had 19 years of Wall Street experience before starting his own independent RIA firm. In that time, he learned that his bank’s one-size-fits-all approaches to advisory were actually limiting to his big dreams. So, he and a small team decided to leave one of the nation’s largest banks in 2019 to start their own independent RIA firm, Americana Partners.
The move couldn’t have paid off any better. Their newfound freedom to focus solely on the unique needs of his high-net-worth clients meant they could build their practice free of corporate agendas and proprietary products. Today, they’ve gained nearly $1 billion in new assets and areconfident they’ll keep growing.
To read Jason’s take on why independence could be your Texas-sized opportunity, download the case study below.
Exploring Paths to Independence
Independence means doing things your way. Advisors go independent with a variety of goals in mind. Some want to design every aspect of their Registered Investment Advisor (RIA) firm, while others simply want to be able to focus on their clients. Some want to build equity in their business, while others prefer to join a firm and negotiate for income and an equity percentage in a larger asset.
White Paper: Creating Your Own Formula for the Modern Office
The investment advisory industry took a leap forward when, decades ago, the first advisors broke away to forge their own Registered Investment Advisory (RIA) firms. Today, the ability to act with complete freedom and make decisions in the best interest of one’s clients is a defining feature of the independent model. And it’s giving rise to a new generation of firms called “modern offices.” They’re leveraging technology, reimagined workspaces, and more to serve clients better, anticipate their needs, save time, and hyper-personalize services.
How do you begin to build your modern office? Start by studying how Schwab Advisor Services has helped others do just that.
Get a look at the modern office and what it takes to build one, including:
- How firms select and adopt state-of-the-art technologies to simplify their workdays
- Which new models for work suit advisors’ shifting needs and preferences
- Why and how firms are now prioritizing company culture
- Practical examples of firms upgrading client service models to gain an edge
To read more about solving for the future of work through the independent RIA model, follow the link below.
Advisor Case Study: Finding The Right Custodian
Tyler Boon had been running a successful independent firm since 2018. So why did he decide to make a big change in the middle of the pandemic? It started with the realization that he needed a more tech-forward partner – one that shares his passion for putting clients first – to give his clients the highest level of support in this new environment. He took a bold leap, and now his clients and team are benefitting from Schwab’s digital tools and expert guidance.
Could making a change bring new opportunities to you and your clients? There has never been a better time to find out. At Schwab Advisor Services, we’re dedicated to helping advisors like you build your business your way.
Get Tyler’s tips for assessing a custodian’s culture and offerings, including:
- How to recognize forks in the road, and what to do when you come to one
- How to make the switch, even in turbulent times
- How self-serve tech provides unexpected benefits
- How to leverage the expertise of your custodian
Three ways technology helped one firm take on unexpected challenges
Having the right technology makes it easier for businesses to pivot and navigate in a changing environment.
This case study covers how advisors like Mike McCann have used technology to automate routine tasks, stay connected with clients and colleagues, and ensure they provide responsive service for every client. His firm, Perspective Financial Services, has used technology to power growth in the face of these challenges – growth for both their clients and their firm.
In reading Mike’s story and his advice, you too can learn to apply these technology tools to your own practice and be better prepared to take on the unexpected.
We’ll cover powerful and practical tech insights and guidance, including:
- Ways technology can help you anticipate client needs and deepen relationships
- How technology can make firms more agile and secure
- Advice based on real-world success
Download this case study to learn how your firm can power a better client experience.
Advisor Case Study Series: Insight #1
Brad Goodwin’s transition to independence isn’t just a great story to tell, it’s a case study in overcoming fears. He made the leap of faith in one of the most turbulent times possible – and it couldn’t have paid off better for his clients and his firm, San Luis Wealth Advisors. Today, he says he has the control and flexibility to choose the technology and software that will streamline his business, and that his only regret is not making the switch sooner.*
Transitioning business models can be a daunting idea. Doing it in the middle of uncertain times only makes it more intimidating. That’s where Schwab’s Advisor Services team can help. Our goal is to ensure everyone comes out on the other side better equipped for the future.
Brad’s story covers key findings about going independent in today’s world, including:
- What is the tipping point, and whether you should wait until then to make the switch
- How turbulent times could set you up for a successful transition, not a tough climb
- What life is like on the other side of independence
- His advice on why you shouldn’t wait to call Schwab
To read more about Brad’s story and hear his advice on why you should look forward to – not fear – transitioning to the independent RIA model, follow the link below.
Charting Your Own Course
Why are more and more advisors choosing independence? The answer is simple: The Registered Investment Advisor (RIA) model has become more than a place to break free from tradition. Custodians and platform providers work together to help position advisor teams to reach their full potential. It's now the destination for those in search of a better way of doing business – one where more freedom and control allows both advisors and their clients to thrive.
As you embark on your journey, consider the:
- Growth of the RIA channel*
- Benefits of independence
- Differences among the five business models for the modern RIA
- Experiences of advisors who chose independence
Download this white paper to discover the five business models for the modern RIA.
For many investment advisors, the ’08 financial crisis and COVID-19 pandemic highlighted just how valuable the Registered Investment Advisor (RIA) model can be for their businesses. With more freedom and control to do what’s best for their clients, independence has helped advisors soar when the odds are stacked against them. In this four-part white paper, we share insights from real RIAs on how the RIA model has helped them navigate turbulent times, the unique advantages they’ve enjoyed through independence, and why now is the best time for you to make the transition.
Download this white paper to discover how the RIA model has helped advisors thrive, with discussions centered around:
- The strengths of the independent model, with firsthand accounts from RIAs who overcame challenges and better served their clients
- Facing the future head-on and how advisors are positioning their firms to beat future challenges
- How independence, and the flexibility it offers, is within your reach
- Seizing the opportunity to break away when it is needed most
Schwab Tech Smarts, Insight #2
The past year has taught us to reimagine how we connect, learn, and work. As an independent RIA, having the right digital tools and platforms can offer a simpler, faster, and more secure way to support your clients and manage your business.
This case study explores how Clear Sky Wealth’s Stephanie Barnier has boosted her firm’s efficiency by going independent and customizing her tech stack using Schwab’s flexible, best-in-class technology platform. Now, she’s running a modern, digitally enabled practice that is known for being client-forward, fast-acting, and flexible.
Her story covers key findings about tech you can use in your journey, including:
- How tech can give you an edge right from the start
- What committing to a digital-first approach truly entails
- Being ready to support clients in any environment
- Surprising opportunities tech offers
- Her simple three-step plan for taking your tech further
To read more about Stephanie’s story and hear her advice about choosing the tech that’ll make your firm ready to support clients in any environment, follow the link below.
Mastering the Moment
As a Registered Investment Advisor (RIA), knowing how the industry will change and what tomorrow’s clients will want can make you unstoppable. At Schwab Advisor ServicesTM, our mission is to equip you with the innovative products and solutions that firms and investment advisors need to maximize their potential.
In this white paper, we paint a picture of the future of the investment industry – and how independent RIAs will thrive in it – with attention given to these specific areas:
- The needs of high-net-worth investors
- Growth through mergers and acquisition (M&A) activity
- Cultures centered on innovation
- Technology that moves us forward
- The era of dramatic pricing changes
These critical trends have put RIAs in a position to excel, and as a trusted custodian, we are here to help you seize the opportunity. Download this white paper to learn more.
More and more advisors are choosing independence to create the future they imagine for themselves and their clients. Custodians and platform providers work together to help position advisor teams to reach their full potential.
As a Registered Investment Advisor (RIA), you serve clients and design your business the way you know is best. Download this white paper and take a closer look at:
- RIA channel growth
- Benefits of independence
- Differences among RIA models
- Economics of RIA firms
- Planning considerations
- The custodian’s role
You’ll also receive time-tested steps and a roadmap for making your own transformation.