The transition to independence can be a challenging process for financial advisory firms. However, with the right partner, the journey can be made smoother and more efficient. The story of BlueStem Wealth Partners' successful evolution to a fee-only RIA highlights their commitment to their clients. It showcases how, with the right support, technology, and a forward-thinking strategy, firms can navigate this intricate process to survive and thrive in their service offerings.
In today's episode, DPL's Regional VP of Member Success, Ross McGoodwin, talks with BlueStem Wealth Partners' Steven Rice and Scott Marquardt. Steven is a partner and the chief financial officer, with 32 years of experience in the financial industry. Scott is a private wealth advisor at the company with over 18 years of financial advisory experience. He is responsible for strategic sales leadership and serving high-net-worth clients. At BlueStem, they strive to help individuals find confidence, purpose, and success in their financial future.
Steven and Scott talk with Ross about how firms like BlueStem Wealth Partners transitioned their book of business through DPL's Breakaway Accelerator program. They highlight the reasons behind their decision, including the desire for transparency and true independence. Both also share their experiences working with DPL Financial Partners and how the partnership has helped them transition their assets.
Key Takeaways
- [01:25] - An overview of guests' professional backgrounds.
- [03:44] - The reasons behind BlueStem's transition to a fee-only model.
- [10:07] - Surprising success in transitioning assets with DPL's assistance.
- [12:36] -The benefits of rising income feature in annuity contracts.
- [14:40] - Leveraging technology with DPL dashboard.
- [18:49] - How DPL provides scalability and support to partner firms.
- [20:36] - Growing partnership and expanding product options.
- [22:59] - Transitioning to RIA with DPL made easier.
Links
Steven Rice on LinkedIn
Scott Marquardt on LinkedIn
Connect with our host
Ross McGoodwin on LinkedIn
DPL
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