$245MM AUM | $2.9MM Rev in
Our hybrid, Utah-based fee-only RIA (Everspire) and sister company BD (MHL Investments) platform, is a compelling solution for Utah advisors looking to modernize their practice. We offer substantial, immediate advantages over independents and wirehouses including higher equity valuation, higher net income, improved quality of life, referrals, and a superior customer experience. Our true cost-sharing, flat-fee pricing model allows our IARs to compete at the institutional level directly with large independents and to start their own ensemble in a contractually protected region with a cost advantage unmatched by any mutual fund company, robo, or custodian. We all benefit from merging with other advisors by gaining scale, sharing responsibilities, and learning from each other.
How many times have you or someone you know say, "I want to dump FINRA?" or "I want to get rid of all the compliance," or "I want to annuitize my business?" The problem with this is first, it is easier said than done, and second, RIAs without a BD relationship are unable to fully access, understand and service the trillions of dollars that are held in brokerage products. The conflicts of interest, while widely tolerated, are tremendous: Just look at all the self-serving "I hate annuities" advertisements and the harm that is done when dogma is valued over data-driven professionalism. We get the appeal of being "fee-only," but we offer a more ethical, nuanced alternative that recognizes the realities on the ground without leaving your clients' assets behind. We believe our Broker-Dealer, started in 1953, is the only retail BD that holds itself to the fiduciary standard. Having full control over a non-competitive BD with the same ethical standards the RIA is a tremendous competitive advantage for our RIA and for the implementation of financial plans, especially for fee-only IARs. These two firms are highly specialized and separately branded to clearly communicate services and compensation. The RIA is strictly financial planning and publicly traded securities management. The BD is strictly private investments and insurance. Our RIA and BD will never compete with each other and you can work with one or both depending on your needs and business model.
Our fee-only IARs at Everspire consider our control of a friendly Broker-Dealer a competitive advantage and an additional level of consumer safety since they can service and track legacy assets that are inappropriate to move to a fee model. Additionally, this provides the most seamless way for hybrid IARs to transition to a fee-only practice by selling legacy assets to a friendly Broker-Dealer while still retaining the ability to advise the client and provide consolidated reporting. We do not accept soft or hard dollar benefits and since our BD is a fiduciary, it will be a culture shock to advisors at independent BDs, but it saves time and creates a compliance shield that makes us very, very boring to regulators. It is a tradeoff that is worth it.
We have an established employee profits interest plan, so if you have an employee or partner you want to retain we can help. We own our building and have first rights of refusal on the leases so you can choose your location or leverage the stability, cost savings, and flexibility of our location.
We implement MGP with custom, institutional grade, in-house portfolio management including individual securities, DFA-designed portfolios and funds, ETFs, private equity and private real estate. Investments are categorized to be compatible with MoneyGuidePro language and objectives, further reinforcing the role of each investment in accomplishing goals while avoiding industry jargon.
Our white-glove, local transition support is comprised of experienced peers who have gone through transitions from LPL, Edward Jones, Wells Fargo, Fidelity, TD Ameritrade and others. The last transition we completed from LPL resulted in millions in additional AUM during the transition. Is a transition easy? No. Do we have the processes and resources to do it right? Yes, and they will go to your office and stay until the job is done. Once the pain goes away you will find that our systems and processes will blow you away and change your life. If you liked Curian you will love Everspire.
In our highly regulated world, independence is an illusion, even more so for those of us utterly committed to the fiduciary standard. We are interested in meeting partners who are unequivocally committed to rounding up to the highest standard and are willing to replace good practices with preeminent practices. In return, we would bring the same commitment to you so together we can deliver the best possible quality to our clients.