Advisor Brian Power—The Advantages of Independence
Chief Operating Officer
Gateway Advisory LLC]
Every time we went out and talked to companies they would say, 'You guys are really an independent firm inside a wirehouse environment, the way you do things, the way you already go out about advisor clients, and the way you structure your fee for advice.’ We were advice-giving, not product-pushers.
It was multiple things—changing culture at the firm, certainly management changes, we had multiple changeovers in our branch, and then they just didn’t really understand us any longer, they didn’t know our clients any longer.
When we all got together to make the decision to go independent, then it was more or less now what do we do? We really didn’t know where to start.
Well, Charles Schwab was very, very involved in our… in our transition. They really showed that they wanted us as clients, and they were very committed to our business plan. They actually wanted to see our business plan, the other companies didn’t even ask for our business plan. They take a real vested interest of making the transition go as smooth as possible. So I think it’s been above our expectations.
Running the business day-to-day, I know we sleep better at night knowing that we have certain investment processes and disciplines in place to help protect our clients.
[Charles Schwab Advisor Services]
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