Guides for each step toward independence

Submitted by Eric Wilson on January 23, 2018

This is a transcript of unscripted speech, rather than written prose, and therefore should not be relied on for grammatical accuracy. This is not a verbatim transcript. Parts have been slightly modified to improve readability.

Our story of independence. 
Quadrant Private Wealth

Herman L. Rij, CIMA®
Chairman, Founding Partner, & Private Wealth Advisor | Quadrant Private Wealth

We're Quadrant Private Wealth, we're located in Bethlehem, Pennsylvania. The firm is only three years old, the building is 170 years old. We're investing in something that has some history to go with it, and we're just beginning to build a history of our firm. I learned many years ago that clients and advisors need to be on the same page.

Jason B. Cort, CPWA®
President, Founding Partner, & Private Wealth Advisor | Quadrant Private Wealth

Working at the warehouse was like being eaten alive by goldfish, it was one little nibble at a time. Where there wasn't one thing that caused us to say, "boy, we're in the wrong place", but it was an accumulative effect of a lot of little things that we realize that our clients were better off, that we'd be better off, if we had an open independent fiduciary model.

Brian C. Cort, CFP®, CHFC, CRPC®
COO, CCO, Founding Partner, & Private Wealth Advisor | Quadrant Private Wealth

We knew it was going to be hard work when we went from wirehouse to independent. The biggest concern I had was the old adage of "Not knowing what you don't know". I knew that we needed technology, I knew that there would be compliance, I knew we would need operations, I knew we would need HR.

Kori Lannon, CPWA®, CRPC®
CMO, Founding Partner, & Private Wealth Advisor | Quadrant Private Wealth

I think the real turning point for us was when we met the folks at Focus Financial Partners. They handed us a spreadsheet, I think it was a 250 to 300 point spreadsheet that said this is what you guys are going to have to accomplish in the next six months to make this work.

At the same time we are also serving clients, it really was a second job forming Quadrant.

Schwab too, was an integral part of executing that transition smoothly.

In a custodian we were obviously looking for someone that could safeguard our client assets, but also provide all the technology and all the support that would allow us to focus on what we do best, which is working with clients. Schwab took care of all that for us.

Our clients' reaction to our move has been positive at every step. They're on this journey with us, I think they appreciate the entrepreneurial spirit. We're now in a position that we can provide unconflicted, prudent advice at every step of the way.

I have a great sense of pride in how I've grown personally and how the partners have grown professionally truly in running a business, there are still a lot of things that we need to learn but ultimately it's going to make us much better advisors to our clients.

Every day you will encounter things that you never could've foreseen, and yet despite the fact that that's extraordinarily challenging it's absolutely rewarding.

It's nice to be able to look back and to start dreaming about the possibilities that continue to exist as we evolve our client relationship and as we mature in this business.

It's more work than we ever thought, but it's more worth it. It took us 3 1/2 years to renovate this historic building. It didn't take us quite that long to get our business up and running but they were both just tremendously rewarding projects, where when we look back on it, we made the right decision three years ago and couldn't be happier looking forward.

©2017 Charles Schwab Co., Inc. All rights reserved, Member SIPC. (0817-72P0)

Disclosures 
Information included during this video is intended to be an overview and is subject to change. Experiences expressed by advisors may not be representative of the experience of other advisors and are not a guarantee of future success.
Quadrant Private Wealth is not owned by or affiliated with Schwab, and its personnel are not employees or agents of Schwab. This video is not a referral to, endorsement or recommendation of, or testimonial for the advisor with respect to its investment advisory or other services.

Focus Financial Partners is a partnership of independent wealth management firms and one of many consulting options potentially available to transitioning advisors. Focus 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 Quadrant Private Wealth 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.

Schwab does not supervise third-party firms and takes no responsibility to monitor the services they provide to you. Experiences expressed are no guarantee of future performance or success and may not be representative of your experience.
Schwab does not provide legal, regulatory or compliance advice. Consult professionals in these fields to address your specific circumstance.

Schwab Advisor Services™ serves independent investment advisors and includes the custody, trading, and support services of Schwab.

Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.
©Charles Schwab & Co., Inc. ("Schwab"). All rights reserved. Member SIPC.

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