Now in its 3rd year, the annual Affiliated Advisors Retreat was held at the iconic Tarrytown House – the Nation’s very first conference center – located in the heart of historic and bucolic Tarrytown, NY. Designed to be the annual gathering of the 50+ independent advisory firms representing over 100 advisors that make up the Affiliated Advisors’ community, the Retreat brought together a number of industry experts and partners to provide a day and a half of learning, industry content, networking and community building.
“We’ve doubled in size at the Retreat in just the last year,” noted Trisha Qualy, managing partner for Affiliated Advisors in her welcoming remarks. “We are very proud of our community of like-minded professionals, and it is our mission to help all of you build the practice of your dreams.”
As part of that approach to helping advisors grow, compete and succeed, Qualy reviewed the values of Affiliated Advisors and how those are helping the organization adapt to the changing environment, yet at the same time, staying consistent to its mission.
For each of the following values, Qualy highlighted the work of a few of Affiliated’s leading advisors and how they were demonstrating these values in real time with the work they were doing for clients and giving back not only to their communities, but also to their peers in Affiliated Advisors.
- Curiosity – We are always learning and know that when we ask the right questions, we get better answers.
- Creativity – We challenge ourselves to think in new ways and prioritize putting our imaginations to work.
- Empathy – We understand and share the feelings of others. We strive to anticipate what makes them happy.
- Gratitude – We approach each day from a position of thankfulness. We believe being grateful unlocks the fullness of life.
- Inclusion – We create space by centering diversity. Our authenticity fosters a sense of belonging for all.
The Retreat content and agenda featured presentations and panel discussions from senior executives of 12 hand-picked partners that provide the key products, services and practice management advice that advisors rely on every day to deliver the highest and best quality of advice. “We can’t thank them enough for their sponsorship and partnership,” Qualy said. These companies included Allianz, American Funds Capital Group, AssetMark, BlackRock, DBS with John Hancock, Equitable, Insperex, Meeder, Pacific Life, and TruChoice with MassMutual Ascend. These leading firms all provided their expertise on advanced financial and investment planning concepts, bringing the latest innovation and highlighting change in the many tools advisors are using to help clients reach their goals.
Additionally, there were a number of practice management areas discussed, including leveraging the media to build your own personal brand, drive leads and contribute to organic growth. Featuring well-known wealth management journalist Ali Hibbs, the interactive growth session provided real-world tips, techniques and best practices for advisors looking to tap into PR to enhance their opportunities.
Along these lines, inorganic growth was also a key topic, particularly now that the industry is aging and many founding principals have yet to establish a succession plan. Key stats that raised eyebrows included the fact that 40% of the entire industry’s assets will transition in the next ten years as advisors retire, with 25% of those still unsure of their succession plan.
This advisor-retirement, “money in motion” phenomena creates a tremendous opportunity, according to Tom Rippberger, Managing Director for Affiliated. “We’ve been directly involved in helping our advisors onboard over $500 million in assets from advisors transitioning. One of the key benefits of being part of an advisor community like Affiliated is the ability to tap into that inorganic growth opportunity, and we are well-positioned with our experience, networks and coaching to help advisors capitalize.”
Rippberger also detailed the many investments Affiliated is making in improving both the advisor and client experience. “We’re routinely holding think tanks, coaching sessions, master classes and innovative forums to deliver the latest information, as well as share best practices, both at the advisor and staff level to drive efficiencies and growth,” he said. “The very good news is that both Osaic and Affiliated are growing, and our goal is to be one step ahead for our advisory firms.”