Concentus Wealth Advisors: Our story of independence

Transcript of the video:

On-screen text:
Our story of independence. Concentus Wealth Advisors.

On-screen text:
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.

On-screen text:
Erik Strid
Founding Principal and CEO | Concentus Wealth Advisors

Erik: We've really tried very hard to work on developing a family-based culture. We try to treat everybody that way, as if they were members of our family.

On-screen text:
Gerald "Zeke" Strid
Founding Principal | Concentus Wealth Advisors

Zeke: The culture from the base to the top is integrity—integrity over everything.

Paul: The model at the wirehouses was broken. We wanted to have freedom of thought and own our own business.

Zeke: So we started along the road of looking for true independence.

Erik: The first time I heard about the idea of being an RIA, it really was very early on in my career. I always thought it was the best platform for really best serving your client.

Paul: We were introduced to Dynasty Financial Partners through Schwab.

Erik: They 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.

There are a lot of fears about going independent.

The wirehouse has done a very good job of convincing people that it's dark on the other side. Technology's not as good, the products aren't as good, and I found none of that to be true.

Zeke: The one fear you don't have to have is: "will the clients go with me?" If you're afraid of that then you haven't been servicing them in the first place.

Paul: Our clients followed us, and they said repeatedly: "I'm not a client of your previous firm, I'm a client of yours." That was probably the thing we worried about the most and was the thing we probably needed to worry about the least.

Erik: 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.

All I had to do was focus on the thing that I'm best at and that I knew was gonna drive our success in this transition. The combination of Schwab personnel and Dynasty personnel, they were there to keep me comfortable, keep me calm, and that was super comforting.

Paul: If you wanna be independent and you're committed to being independent, and that's what you believe, don't let anything stop you from doing it. There's nothing that should hold you back.

Erik: I mean, I am so passionately a believer that the independent registered investment advisor platform is the way to build a successful business.

Paul: I knew I was building my own business. It was mine, that I owned it along with my brother and my father.

All of the work that I was putting into it was something that was building a firm that I owned.

Zeke: Well, imagine coming into an oﬃce and having two of your sons there every single day. I'm the luckiest guy at the table, believe me.

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.