“Off The Wall” Blog
Unique, straight-forward, unfiltered opinion on topics of concern for individuals with newfound wealth.
What happens if your wealth advisor retires at the same time as you?
Think about it… You’re going through a major transition in life, and you need your advisor by your side—the one who’s helped you plan for your life goals, the one you’ve built trust with over the years, the one you count on to guide you in making sound financial decisions… and then… that’s it. It’s over. Your advisor retires, and you’re passed off to a different advisor who doesn’t know you or your situation. Do you even like the new advisor? Do you need to begin searching for a new one? No one needs this kind of stress, especially not during a major life transition.
Succession planning is so important to all businesses, and wealth management is no exception. That’s why our clients don’t just have one advisor—instead, we take a unique team approach to wealth management. Our President and Co-Founder, David B. Armstrong, CFA and our Vice President and Partner, Jessica L. Gibbs, CFP® spoke on this topic and our team’s “Path to Partnership” at this year’s Barron’s Advisor Teams Summit.
Co-Founders Dave and Dean always had a vision to build an enduring, organic-growth firm where they would develop partners internally, rather than looking to merge with another firm or be acquired. Over the past couple years, this vision has become a reality, as Jessica and Emily were promoted to partners.
During the conference, Dave and Jessica shared with other wealth advisors the mechanics of how it all worked, and Jessica shared her path since joining Monument in 2015, highlighting her professional landmarks and also her personal landmarks, such as shifting to remote work in 2018 and becoming a mother in 2020.
Succession planning is a major challenge for the majority of financial advisors—and Dave and Jessica were delighted to be able to share how we successfully added partners, which will ensure Monument continues decades into the future.
Hear from Dave and Jessica on Barron’s Advisor podcast “How One RIA Created a Path for Next-Gen Talent to Become Partners”
About Barron’s Advisor Teams Summit
Being a leading advisor and being an advisor leading a team are two distinct challenges, but they are becoming increasingly interdependent. While Barron’s Advisor celebrates the accomplishments of advisors, their success is often the by-product of excellent teams, who recognize that every role contributes to the aggregate success of the team and the firm. This is the reasoning behind the Barron’s Advisor Teams Summit—to give advisors and their teams the tools to raise the bar for service and improve client outcomes.
This event is by invitation only and brings together elite-tier advisory teams for three days of rich content, designed to address the complexities of interpersonal dynamics, provide insights on financial management and share innovations in wealth management.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Monument is engaged, or continues to be engaged, to provide investment advisory services. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.
A copy of the Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.monumentwealthmanagement.com/disclosures. Please Note: Monument does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Monument’s website or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
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