Accelerating successful transitions

Transcript of the video:

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Resources to help us succeed. Concentus Wealth Advisors.

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Going independent doesn't mean going it alone.

There are a number of resources available to advisors who choose the RIA model.

Dynasty Financial Partners is a partnership of independent wealth management firms and one of many consulting options available to advisors.

Dynasty Financial Partners has worked with Concentus Wealth Advisors during their transition to the RIA model and beyond.

Concentus Wealth Advisors selected Schwab Advisor Services^™ as their custodian.

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Gerald "Zeke" Strid
Founding Principal | Concentus Wealth Advisors

Zeke: We are on a rocket ship right now. The changes in our industry are so fast and so dramatic it's not even funny.

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Paul Strid
Founding Principal and COO | Concentus Wealth Advisors

Paul: Concentus is located just outside Philadelphia in an area called the Main Line. We grew up here so we've been in this area for a long time, and I think that shows in our business and our clients.

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Erik Strid
Founding Principal and CEO | Concentus Wealth Advisors

Erik: I had a sense that in the long run, we eventually wanted to become independent and have our own independent business.

Paul: We didn't want to join a model that gave up the equity of our firm to someone else.

So, one of the things we really should have been concerned with was actually running the business and doing the things that it takes to set up a business.

We were introduced to Dynasty Financial Partners through Schwab. Their slogan is "Powering Independence."

Erik: The folks at Dynasty call themselves an outsourced middle office for independent registered investment advisor firms.

Paul: They power our independence. They help us go independent and be successful at being independent.

Erik: They were gonna really work with us very closely to help us to make sure that our transition was successful, which they did.

Paul: Set up HR and payroll and insurance.

Erik: The combination of Dynasty Financial and then Charles Schwab as our custodian was really just very compelling for us.

We knew that when we were gonna be going to talk to our clients about the fact that we're recommending they use Charles Schwab as their primary custodian, we weren't gonna have any push-back. That feeling of safety of assets permeated everything that our clients understood about Charles Schwab.

Paul: We had all hands on deck during the transition, we had plenty of help.

Erik: It was really just a great combination to have those two firms at our disposal and helping us to make sure this transition would be successful.

Paul: And it was great to just have more camaraderie here, more high fives to go around when we had a big client say yes.

Erik: There are a lot of fears about going independent. Clearly they're there and they can be daunting. But having been through it, you look back and you're like oh my gosh I can't believe how far I've come in a year. If you're thinking about it ... do it ... is my advice.

Gerald Strid, Paul Strid, and Erik Strid are clients of Schwab and were not compensated for their comments. Your experiences at Schwab may differ, and there's no guarantee of future success.

Dynasty Financial Partners is a partnership of independent wealth management firms and one of many consulting options potentially available to transitioning advisors. Dynasty Financial Partners and their employees are not affiliated with or employees of Schwab unless otherwise noted. Their mention should not be construed as a recommendation by, endorsement of, or sponsorship by Schwab. The views expressed are those of Concentus Wealth Advisors and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience. You must decide whether to hire any firm and the appropriateness of their services for you or your firm.

The above mentioned firms and their employees are not affiliated with or employees of Schwab unless otherwise noted. Mention should not be construed as a recommendation, endorsement of, or sponsorship by Schwab. The views expressed are those of the third party and are provided for informational purposes only. Experiences expressed are no guarantee of future performance or success and may not be representative of you or your experience.

Information included in this video is intended to be an overview and is subject to change.

Schwab does not provide legal, regulatory or compliance advice. Consult professionals in these fields to address your specific circumstance.

Schwab Advisor Services^™ provides custody, trading, and the support services of Charles Schwab & Co., Inc. ("Schwab"), member SIPC, to independent investment advisors and Charles Schwab Investment Management, Inc. ("CSIM").

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.