WA MAGAZINE JanFeb PDF A - Flipbook - Page 22
PLATFORM PROFILE
Given the comprehensive service
model, it’s remarkable that Scheid isn’t
hugely concerned with fighting more
technology-oriented platforms for space
on advisors’ screens.
Instead, he’s staring at self-directed
investors and the pure robo platforms.
“Our toughest competitor isn’t
another firm; it’s the DIY model,” he
admits. “Technology has made it easier
and more affordable for advisors to
go it alone, but our focus remains on
demonstrating the irreplaceable value of
human expertise and tailored service.”
Staying open to this pool of endlevel clients means widening the moat.
Through advisor councils and feedback-driven innovation, FPAS continuously evolves to address emerging needs
in a rapidly changing market.
Needless to say, emphasizing community and collaboration sets the platform
apart from faceless robo relationships.
The firm hosts regular workshops, webinars, and conferences to foster a sense of
shared purpose among its advisors.
“We’re always looking for talent,”
Scheid says, even when it means grabbing human assets that would otherwise be on the open market.
“Independent advisors often struggle
to find, afford, and train specialized
professionals. By bringing these experts in-house, we provide our partners
with immediate access to the resources
they need to succeed.”
This focus on talent extends to the
full-fledged acquisition of firms with
specialized expertise. By integrating
these practices into its broader ecosystem, FPAS enhances its ability to
offer comprehensive solutions to both
advisors and their clients.
And there are mentorship programs
within the network. These initiatives
pair seasoned advisors with newcomers, fostering knowledge transfer and
building a cohesive, well-supported
network.
This approach not only strengthens
advisor capabilities across the network
but also reinforces client trust by ensuring consistency and depth of service.
Someone, somewhere will have all the
answers required.
CONSOLIDATING TALENT
AND EXPERTISE
STANDING OUT IN A
CROWDED MARKET
In addition to its external advisor network, FPAS remains an active consolidator. The parent company operates
two distinct divisions: one for independent advisors and another for in-house
professionals.
This dual structure provides a
life-cycle solution for advisors, offering pathways for growth, succession
planning, and even integration into the
“captive” in-house framework when pure
independence no longer makes sense.
The talent acquisition strategy plays
into this. For example, the addition of
Jeffrey Levy as Chief Planning Officer
has enhanced the platforms advanced
planning capabilities. Levy leads a team
dedicated to addressing complex client
needs, from business valuations to tax
strategies, ensuring that advisors have
access to top-tier support.
While more aggregation-oriented
competitors such as Mariner Wealth
Advisors and Hightower Advisors
dominate headlines, service is the key
differentiating factor here.
The firm’s emphasis on community and expertise over sheer scale
has attracted a growing number of
breakaways from wirehouses who
historically gravitated toward firms
such as Dynasty Financial Partners
and Hightower.
This trend reflects a broader industry shift toward fiduciary advice and
planning-first strategies. “Clients want
a planning-first experience,” Scheid
says. “Advisors who built their careers
as investment managers often struggle to adapt to this new reality. That’s
where our model excels, by equipping
advisors with the tools and expertise
CONTINUED FROM PAGE 21
THE DIY CHALLENGE AND
COMPETITIVE LANDSCAPE
22 | JAN/FEB 2025
“Independent
advisors often
struggle to
find, afford, and
train specialized
professionals.”
– Jonathan Scheid, President
they need to meet evolving client
expectations.”
The ability to adapt is further evidenced by its embrace of technology as
a complement to, rather than a replacement for, its service model. A partnership with a leading fintech provider
has enabled FPAS to enhance its digital
offerings, ensuring that advisors have
access to state-of-the-art tools without
sacrificing the personalized service that
defined Buckingham’s approach.
LOOKING TO THE FUTURE
As the wealth management industry
continues to evolve, FPAS remains
steadfast in its commitment to a
service-first philosophy. The firm’s
emphasis on empowering advisors
through comprehensive support and access to expertise positions it as a leader
in a competitive market.
For professional wealth managers,
the model offers a compelling alternative to technology-driven approaches.
By prioritizing human relationships and
fostering deep client connections, the
firm provides a blueprint for sustainable
success in an era of increasing client
demands and technological disruption.
Names can change, but the approach here ultimately underscores
an enduring truth: while technology
can enhance efficiency, it is the human
element that ultimately builds trust,
loyalty, and long-term success.
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