Innovative Partnership Drives New Style Of Wealth Management Firm

Tuesday, April 03, 2012 10:26
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Innovative Partnership Drives New Style Of Wealth Management Firm

Tags: Advisor businesses | marketing | niches

Two wealth management firms, both started by women, have developed a unique partnership. One firm was founded by two women. The other firm was founded by a woman who is a TV personality and a journalist in personal finance. The two other women became partners in the new firm founded by the journalist. The journalist has chosen not to become registered or to get her CFP® designation. This enables her to be free of restrictions in her commentary on financial planning issues.

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One of the two women had a previous career as a media professional and also has her MBA. The other is a CFP® and also a wine connoisseur.
 
The unusual partnership points to unique ways fee-only advisors are differentiating themselves by offering unique combinations of services and expertise. All three women feel there should be more minorities involved in the wealth management industry since there is more wealth being created by women, Hispanics, African Americans, Asians, and others.  

Comments (1)

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bramsay
"The journalist has chosen not to become registered or to get her CFP® designation. This enables her to be free of restrictions in her commentary on financial planning issues."

That sounds ethically questionable. As a CFP practitioner I can't see how I could justify partnering with someone whose commentary wouldn't be permitted by either CFP practice standards or regulations.
bramsay , April 04, 2012

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