Rumors regarding the death of the independent RIA are premature, at best. The independent RIA model remains a popular business model for serving the financial needs of high net worth individuals and families. We have evidence of that – Pinnacle Advisory Group has been an independent RIA for more than 25 years and is now a leading wealth management firm on the East Coast according to Financial Times ranking of top Wealth Advisors in 2018.
But don’t take our word for it. Look no further than the admirable client-retention rates and the steady flow of advisors moving from broker-dealers to independent RIAs. Or talk to the hundreds of independent advisors that we speak with each year.
However, while many advisors agree that the independent model is a solid model, most outsourcing service models remain focused on the broker-dealer model: providing cookie cutter solutions to hundreds if not thousands of advisors. Moreover, many of those same service providers are investment managers or technology firm members of whom have never had to sit in front of clients. Their intentions may be good, but they often don’t get it. As a result, in 2011, Pinnacle Advisory Group took a novel step toward rectifying this situation by launching Pinnacle Advisor Solutions (PAS) – services for advisors by advisors.
Pinnacle Advisor Solutions provides business services specifically designed to support and help maintain the independence and competitive spirit of RIAs nationwide. Our solutions address some of the primary sources of pain articulated by advisors regarding investment management, operational efficiency, compliance, growth empowerment and succession planning. Our goals are: first to free advisors from the time-consuming, non-client-facing busywork associated with running a practice; and second, to help them realize their goals, whether they be additional growth, lifestyle enhancement or retirement.
We make these solutions available to a select group of advisors each year, recognizing that we cannot be everything to everyone. Instead, we accept a smaller number of advisors into our programs, so that we can have a meaningful impact on each and every one.
Both clients and advisors alike see big benefits in working with PAS: each receives the personal touch and concierge service that only an independent firm can provide; plus each can take advantage of the resources, support and solutions that only a leading national firm can provide, all without sacrificing your independence to get them. It stays your firm, your clients, your brand, your revenues and your equity.
If our approach sounds like it may be a good fit for your practice, we invite you to look around our new website. Here you can learn about our team, including renowned and sought-after speaker and author, Michael Kitces, read and download additional information on how PAS can enhance your practice, or schedule a call to learn more.
We look forward to meeting you!