Working with independent broker dealers and investment advisory firms, Private Wealth Alliance can assist in the expanding the firm’s strategic focus through the introduction of a financial institution initiative. A bank or credit union affiliation serves to strengthen the bond between the firm and advisor through the acceleration or diversification of an advisor’s practice, as well as enabling advisors to build larger teams.
By providing guidance and insight to better understand the institutional channel, we help independent firms to build-out an enmtru strategy. Our experience across commercial banking, retail and private banking, and wealth management lends needed expertise to successfully enter and navigate the community bank and credit union space.
As former C-Suite executives, we understand the banker’s mindset and the challenges that face investment firms seeking to gain entry into the channel. As well, we have successfully launched an institutional channel inside of a national broker dealer firm and built a network of industry contacts across the country.
Scope of Engagement
We begin each engagement with an overview of the industry and the evolution that has occurred over the past two decades through the eyes of leaders that have launched broker dealers and directed programs in the community and regional bank space.
Our focused approach engages many aspects of our strengths as a partner to the firm. We assist in varying degrees to facilitate a firm’s entry into the financial institution channel:
- Understanding the competitive landscape
- Creating a unique value proposition for the firm
- Review the regulatory, supervisory & administrative aspects of the channel
- Addressing program design, set-up, and day-to-day work with financial institutions
- Strengthen the knowledge of the firm as to program profitability and revenue sharing
- Assist the firm in the recruiting of program leadership, advisors, or credentialed professionals
- Design of firm level contracts to be used in the solicitation and engagement of a financial institution.
From a strong foundation, assist the firm in understanding the value and financial reward associated with a financial institution channel strategy.