Houston, TX (PRWEB) February 7, 2008
Today, US Fiduciary, Inc. ("USF") rolled out a new pricing strategy for wirehouse advisory teams going independent. The new pricing model allows the wirehouse rep ("FA") to keep their existing wrapped pricing approach with their clients and not be "nickeled & dimed" by their independent broker-dealer or RIA platform provider, which has been the standard.
US Fiduciary has leveraged its infrastructure to replicate the wirehouse pricing model for FAs and their clients while not burdening the FA with all of the added expenses of being independent. Historically, as an independent FA, expenses such as trading, performance reporting costs, and access to managers and products are charged at retail-like pricing, which diminishes profitability for the FA. By USF covering all of these expenses for the FA, it creates a much smoother transition from the wirehouse than any other independent RIA or IBD platform, including Schwab or Fidelity.
Bob Drake, the President and Chief Operating Officer of US Fiduciary, stated, "We analyzed the needs of high net worth investors and the needs of top-end advisors, and determined that US Fiduciary's unique infrastructure as an RIA, a broker-dealer, and an asset management platform allows us the flexibility to deliver a superior pricing and service model to the wirehouse rep going independent than has ever existed. We have also drawn upon the experience and insights of our entire team to build a pricing model and platform that facilitate the transition from a wirehouse environment to independence. The convergence of FAs embracing fiduciary standards, the demise of the traditional brokerage business model, the demographics of baby boomers turning 60, along with today's technological capabilities, places US Fiduciary at the center of a perfect storm in the financial advisory business. In order to create a high satisfaction level for Advisors considering joining US Fiduciary, we have developed a process, we call Discovery."
Jeff Sills, one of USF's Senior VPs and Divisional Officers added, "Through our unique Discovery process, USF is able to assist the wirehouse rep in looking at their practice as a stand-alone business entity. We can show them what environment would be most beneficial to them given their current business structure and, maybe more importantly, what strategic adjustments are available to them that would make their business structure more productive and profitable for their clients and themselves. At the end of the process, they have all of the information they need to make an informed decision about their future."
Additionally, US Fiduciary recently became a signatory to the all-important Broker Protocol, originally conceived by Merrill Lynch, Smith Barney, UBS and Morgan Stanley to protect their transitioning reps from the certain temporary restraining orders and lawsuits from the firm loosing the transitioning broker. As a signatory to the Protocol, US Fiduciary and its reps will adhere to the steps in the Protocol thus insulating itself and its reps from legal actions from the firm departed.
About US Fiduciary, Inc.
US Fiduciary is a boutique financial services firm focused on serving high-end financial advisors and their high net worth and institutional clients. The company's innovative and integrated offering of Managed Account Solutions, Broker Dealer Solutions and RIA helps financial advisors and financial institutions manage the increasingly complex needs of wealthy clients. For more information, visit http://www.usfiduciary.com.
# # #