Tag Archives: Client Relationships

Lon Dolber: Staying Independent as an Independent Broker/Dealer

Finance, Investing, Technology, WealthTech, WealthTech Winners Circle, , , , ,

Lon Dolber is the CEO of American Portfolios, an independent broker/dealer and RIA with some 800 affiliated advisors and $40 billion in assets, and the winner of the Wealthmanagement.com award for CEO of the year for small broker/dealers (less than 1,000 affiliated representatives).

Dolber launched American Portfolios on Sept. 10, 2001 – and kept the nascent firm going in the terrible weeks following. He’s grown the business with a laser focus on service for his affiliated advisors, a shared ownership model and a reluctance to pursue outside investors or growth through acquiring or being acquired. “That’s about consolidation for profit and scale and for shareholder value. How does that help the community? Has it helped employees? How does it help advisors and has it helped the investing public?”

In this episode, David Armstrong speaks with Lon about:

  • Launching American Portfolios on Sept. 10, 2001, and making the decision to continue even in the wake of the next day’s terrorist attacks.
  • Growing the business from a handful of employees to now serving 800 advisors across 400 branches, managing some $40 billion in assets.  
  • His thoughts on the outside investors and the frenzy of acquisitions taking place in the industry-and how that might not help the advisor or the advisor’s clients. 
  • His belief in stakeholder capitalism and a shared ownership model for the business.
  • Why he and his firm are supporting a creative residency program in Ferguson, Mo.  
  • Playing bass in a Motown cover band

Resources: Wealth Management.com | Lon Dolber | American Portfolios

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Maximizing Your Firm’s Pay Out as an Advisor with Frank LaRosa

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Many advisors spend their entire career building their business, whether it be as an independent or full-service company. Often, as many advisors get to the end of their careers, they are left with some major questions about how to make the most from the business that they have put so much time into. 

In this episode, David Armstrong is joined by Frank LaRosa, founder and CEO of Elite Consulting Partners to discuss his position as a finalist for the 2021 Wealth Management.com Industry Awards, recognized for his work on succession planning, and his thoughts about how advisors should handle the transition and monetization of their company as they approach retirement. 

In this episode, you will learn:

  • Background about Frank LaRosa and his journey in the Wealth Management Industry 
  • The difference between working in an independent space as opposed to a RIA firm 
  • Why having a contingent successor for your business is so important 
  • The mechanics of the dual monetization strategy
  • How to take advantage of long-term deals to increase your payout 
  • The difference between transaction and fee-based businesses and what that means for your clients  

Resources: WealthManagement.com | Elite Consulting Partners.com | LinkedIn: Elite  Consulting Partners  | Advisor Practice Dynamics.com 

 

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How the Pandemic changed with Heather Kelly

Finance, Investing, Technology, Wealth Management, WealthTech, , , , ,

As the 2021 Wealth Management.com Industry Awards wrap up for the year, the focus is on the top finalists and how their companies are changing the wealth management industry, and bringing new ideas and innovations to the forefront. 

In this episode, David Armstrong is joined by Heather Kelly, senior vice president, head of advisory and strategic accounts with Allianz Life Financial Services, recognized for the Conversations That Matter Project, a wide-ranging research project focusing on client and advisor relationships and communications, how the pandemic has changed the dynamic and the language that best resonates with clients during turbulent times. 

In this episode, you will learn:

  • Heather Kelly’s role in the Conversations That Matter Project 
  • Which methods of communication are being favored by both advisor and clients 
  • How recent technology trends have impacted the way advisors work with their clients and wholesalers
  • Why gratitude and empathy have become some of the most important traits clients see in their advisor

Resources: WealthManagement.com | LinkedIn: Heather Kelly | LinkedIn: Allianz | Allianzlife.com 

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