We are interested in buying a practice as well as a short-term merger with a retiring advisor. We do not have interest in joining another broker/dealer or larger RIA aggregation firm.
We operate our RIA (Herr Capital Management, LLC) and our investment platforms are completely independent of the broker-dealer platforms. I would describe Herr Capital Management as a financial planning or wealth management firm, not as an investment firm. I am a CFP® my business partner has an MBA in financial planning. We formed our partnership under my existing RIA with the idea that every client would be a firm client vs. a rep/advisor client. Every client completes a goals-based plan PRIOR to implementing any investment or other recommendations. We make sure the clients stay focused on goal achievement vs. the market noise. Every client meets with both of us, every plan is completed and reviewed by the other. We believe the combination of multiple advisors reviewing a plan and overseeing its implementation sets the stage for a better outcome and helps limit bias. Our team approach was entirely designed with the client in mind. I have 25 years of experience and my partner has 13 years of experience. She is also 10 years younger. creating a natural succession plan which would not disrupt the lives of our clients. We are also seeking a younger like-minded advisor for continued longevity. When we accept a client, they become part of our family and assume the client will be with us for life. We take a high touch approach. His/her clients will be well cared for under our stewardship.