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.
