Overview
NBC Case Study: From wirehouse to larger RIA and then to tru Independence
A break-away team of 3 from a major wirehouse opted to join a larger RIA with a partner relationship for back office and support. They found they walked into a situation where legacy systems were firmly in place and the decisions they wanted to make for their practice were not possible.
With the help of tru Independence they were able to create their own RIA. Being truly independent was important for this team. They had the chance to develop infrastructure in conjunction with tru from the ground up and received help and guidance with their ADV and compliance, as well. They benefitted from having a knowledgeable business partner who could answer questions and provide insight.
This team wanted to focus on their clients – serving them well and deepening relationships, and on growing their firm and increasing their footprint in their area. tru’s knowledge, connections, insights and direction helped them do just that. In just the first 8 months of hiring tru, the team has seen their assets grow over 30%, largely from new client relationships. To handle the growth comfortably they have also brought on new staff.
One of the partners at NBC Capital Advisors says: “tru independence makes us feel that we’re the highly valued client; we’re the top priority in the relationship. We were immediately impressed by their genuine dedication to serving us and placing us at the center of the relationship just as we do with our own clients.”
Outcome
Execution with a depth of knowledge. “Knowing the right things is only half the equation…being able to execute on their knowledge is the other. tru can do both”, says the team at NBC.
When describing the people and firm, Jason Bratt, Partner of NBC uses the words “family, capable, experienced” and says, “when you combine all three of these attributes, tru treats you like they’re a boutique company with just you as their only customer, but they have all the capabilities and knowledge of a large operation.”
Prepared in partnership with https://www.nbccapitaladvisors.com/.
