“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.
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 may not be indicative 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.
Please remember that if you are a Monument client, it remains your responsibility to advise Monument, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. 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. 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 Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at https://monumentwealthmanagement.com/disclosures/. Please Note: IF you are a Monument client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.
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