Name: Break into the High-Net-Worth Space
Start: 2022-11-10T14:00:00.000-08:00
End: 2022-11-10T14:45:00.000-08:00

Hi, my name is Tom Wilson and I'm the head of wealth advisory here to talk about helping advisors break into the high net worth space with wealth advisory. Thank you so much for for joining us today. We're very excited to talk to you about how wealth advisory is now integrated onto the OS platform. So joining to be part of me, joining me today will be my 2 colleagues, Ryan the strange and Don Batho. To sort of kick things off. Friendly reminder that if you'd like to ask any questions, all you need to do is sort of type into the bottom of the screen. Your questions. We're going to queue those up as we as we move forward at the end of our presentation, we're going to look to try to answer as many questions as we can. So don't feel you have to wait until the very end. Feel free to to start typing. As we as we move forward so on the on the agenda today as I'd like to sort of kick off and and talk about what is wealth advisory and wealth advisory is a service and investment offering that we've created for financial advisors that have clients that have a million or more in in assets. And what we've done is basically added a lot of bandwidth to this $1,000,000 and up marketplace that will allow advisors. To grow, keep and maintain these high net worth clients as well as institutions that are have assets of $1,000,000 or more. And we do this through a variety of ways. But basically you can think of it as an end to end solution where we're going to help out on the sales side and the marketing side as it relates to trying to attract those end clients. As we get introduced to those clients, we're going to assist you with the discovery call to the point of where you like. To be assisted and then as we grab that information, we're going to build a tailored portfolio that is designed to help your clients meet their ultimate financial goals and objectives and of course within their their appropriate risk tolerance level. And then lastly, we're going to assign a portfolio management team that will be responsible for all investment related activities as it relates to your clients accounts within wealth advisory. So we actually. Refer to this as a as a three-step process that we refer to as discover, design and deliver. So to summarize though, wealth advisory is really built solely for you, the financial advisor, to help you win. Maintain and grow high net worth as well as institutional accounts that have $1,000,000 or more in assets. So let's begin in talking about the discover design and delivery process. On the discovery side, we have a team of portfolio consultants that when you have an opportunity they're going to pick up the phone and and and give you a call and they're going to want to learn as much as they can about this particular prospect as well as how you like to operate within your own business. And in doing so, they're more than happy to join you at the hip and potentially presenting to the end client. But also if you would just simply like them to be in the background to provide you with all the information that you need to be successful. In presenting to the to the prospect, we're happy to work with you basically however you prefer to be work with the other main purpose of the discovery call is to learn as much as possible about your prospect because within wealth advisory we're building tailored made portfolios that are really meant to be designed to bring together all of the issues that you are trying to solve for, for your own clients. So the more that we hear about those issues, those concerns. The better that we can build that tailored made portfolio. Now on the design side, what we do is that basically grab that information from the discovery call. We have a team of investment strategists that will then incorporate everything that they've learned from the discovery call into the building of that asset allocation. Now at Brinker, we have our due diligence team. We also have an asset allocation team as you would. In fact, the due diligence team is this group of individuals of analysts that are trying to determine what are the the best of breed opportunities out there amongst the various investment strategies in different areas whether that be international securities domestic. So forth then and so on. So we we'll we'll use that sort of list. It has gone through the Jones process as the building blocks for our portfolio, but then we also take information from brinkers Asset Allocation Committee. The Asset Allocation Committee is a group of individuals that's looking out nine 1215 months from now trying to determine where we think the market is going and how we want to ask allocate based on those forward-looking thoughts. So it's a combination of what we grab from the due diligence team, what we utilize from the asset allocation team, where we bring that together when we're building a portfolio. Incorporating any unique circumstances along the way and that's really how we make these tailored made portfolios. Investments with these within these portfolios can really range quite a bit. We utilize mutual funds, ETFs, separately managed accounts and in some circumstances limited partnerships as well. We can go active, we can go passive. Quite frankly it doesn't matter so much to to us within wealth advisory, but really it's it's all about. Trying to achieve your end clients, you know investment objectives, investments goals and of course within within their risk budget. Now at at at Brinker we do work with quite a lot of individual high net worth clients. So I'm going to talk a little bit more about that, but I didn't want to mislead anyone per se. We also have institutional clients as well. So if you have an opportunity in the defined benefit space, nonprofits, foundations. We absolutely have a great deal of experience there as well and we're more than happy to to try to help you out with those opportunities. But as it relates to the, the high net worth space tax efficiency is is paramount. As I like to say it's not always what you what you make, but what you keep that really matters. And so there's a variety of different ways that we incorporate tax efficiency within our client portfolios and I'm going to touch on a few of those today. So certainly if. You have a prospect that has a handful of securities, managed accounts, funds what have you that have embedded capital gains and they're very concerned about working around those capital gains. Well, we can absolutely do that. In fact we have the ability to set a capital gains budget on those securities and then we would blend them out over time based on your end clients capital gains budget. So hypothetically that the budget might be $50,000 of of tax tolerance one year. Might go up to 100,000 or down to 25,000 the following year. We absolutely have that flexibility to accommodate that. And as we're building the portfolio, we certainly think about asset location as well. If we're dealing with multiple registrations, we'll try to put those strategies that makes the most sense within those tax exempt registrations should they exist and likewise those that a little bit more tax efficient we'll put in those taxable registrations. So again hopefully illustrative of the work that we do in. Paying attention to the details surrounding tax efficiency. The other item that I want to draw to your attention is the proactive tax loss harvesting that would do within these high net worth accounts as well see as this slide attempts to illustrate, during any particular calendar year, you tend to get a range of returns throughout that year. Well, we'd like to take advantage of those opportunities when the markets go down as a means for realizing losses which have economic value to your clients come come tax time. So probably a really great example of that would be in 2020 when we were all sheltering in place. We think back to the the first quarter when that was happening February, March the market the began to decline. Well we actually took that opportunity to realize losses at the end of the the the first quarter and we did it again later in the the second quarter. And as a result we generated losses that were then used to offset gains that were created in clients account as 2020 as the year progressed and. You know from there the, you know, clearly the markets continue to go up. So being proactive and taking unrealized losses where there are available and where it makes sense is another way that we add tax alpha to these wealth advisory portfolios. And the last item that I wanted to touch on before I flip it over to my colleague Ryan is the area of of deliver. And what we're talking about here is once that Prospect says yes, we have. Team of individuals that will assist in the completion of the paperwork that's required to get the client's assets from point A to point B. Any trust documents that need to be completed and just general brokerage account applications that need to be completed. We send all that out out to the client. They simply just sign off on it via DocuSign and that then initiates the the process. You know a lot of times with these accounts that are larger. They have more things going on with those accounts. So the attention to detail on operational and administrative efficiencies becomes all the more important and that's why we developed as part of our wealth advisory offering this onboarding team that assists with with all of that so important for us to know. And then the the final sort of element of the delivery phase is the portfolio management team. So every single account that becomes a wealth advisory account is assigned. A portfolio manager, all of our portfolio managers have CFA designations and have at least 10 years of investment industry experience. So you could kind of think of this as your sort of one stop shopping for all investment related questions. So if you have a question about the market particular manager or even maybe a strategy that you heard about and you want to learn more, you absolutely should be able to reach out and call your portfolio manager and it's not a scenario where it's. Generic one 800 number and you have to describe who you are and and what your clients about, but rather your portfolio manager will know who you are and quite frankly the extent that you would like them, they'll know your end client as well. So one, stop shopping in addition as market circumstances change, whether that's from an asset allocation perspective or quite frankly information that we want to share with you as it relates to individual managers will absolutely. Proactively reach out to you as well, so to keep you informed throughout the entire process while we're managing your your portfolios. So part of the value ad again of wealth advisory coming through to you through the portfolio management team on the asset allocation and portfolio management side. And you know on the right hand side of this slide you know anecdotal evidence that suggests that what we've been doing in wealth advisory for all these years has been successful when you look at that retention rate. So we're quite proud of. That again suggests that the process that we've created is a value to those high net worth clients and they're they're willing to stick around for for many, many, many, many years. Now. A quick note about marketing and sales support, just want to let folks out there be aware that we have a variety of different marketing materials that not only just explains wealth advisory but helps position you with your end client and include that opportunity to introduce a wealth advisory so. We absolutely have that at your disposal and in addition, we do from time to time do webinars such as the one we're doing today to give you some thoughts and ideas on how potentially you could incorporate wealth advisory into your into your practice. So on that note, I'd like to flip it over to my colleague, Brian the strange Ryan. Tom, thank you very, very much. Welcome everyone. As Tom mentioned at the beginning, my name is Ryan Lestrange, I'm a senior vice president at Brinker Capital. And while Tom laid out for you really what wealth advisory is the process, the resources at your disposal for the next few minutes, what I'd like to try and cover are these two questions, why advisors choose Brinker Capital Wealth advisory and then subsequently why high net worth investors choose those advisors. Now as we get into it, I think it's really important to talk about why this conversation is so important and why we have Brinker capital are so excited to be launching on OPS today. And really I know all of you have seen the statistics, right, the looming generational wealth transfer, the stats regarding the small and mid sized businesses that will be transitioned or sold over the coming years. Frankly, if you just think about the amount of wealth that has been that has been created here in the United States over the last few decades. The high net worth space represents trillions of dollars in opportunity. So we need to be effective, right, to go out and capture our fair share of that trillion dollar opportunity. But if we bring in a bit closer to home, there is a correlation between the average size of a client relationship and the amount of revenue that you as an advisor recognize from it. So our goal in going after the high net worth space is not just to do great. Work and have people live their best lives, but we want to be the beneficiaries of this great wealth transfer and grow our businesses, right? Increase the average size of client accounts and therefore the revenue that we generate as financial advisors. Let's take a minute and talk about the business of being a financial advisor at Brinker Capital. We started our business in 1987 to support you. We believe that financial advisor is one of the most important professions that exist today. But to be frank, it is not an easy one. We've talked to you, your peers, and what we wanted to find out was what are all the responsibilities and tasks that fall under your purview. And what's the time look like when you break it up? What are you? A lot to each one of them. And as you can see from this chart, frankly, there's a lot to do and not a tremendous amount of time to get it all done. When I look at this chart, the other thing that comes to mind is that you could kind of separate out these tasks into 2, maybe oversimplified, but two groups, right? And that is a group of tasks that could be handled by a trusted partner. And then there are the tasks and responsibilities that only you. And execute on. Frankly, when we look at that division of Labor, right, that delineation, it's the tasks that you cannot allow a partner to handle that are most valuable for you and your business. Things like finding new prospects as well as strengthening the client relationships that you already have. What I find most interesting about this slide, though, is the way that it looks through the lens of a high net worth investor. Not surprisingly, right high net worth investors are insightful. They're smart. They see things that other people don't. Likely that's why they are high net worth. Accordingly, they have a different view of the financial advisor and the amount of research that has been done over the years here on the preferences and biases of the high net worth investor we could take the next couple of days to cover. Thankfully, the smart people at McKinsey I think summed it up perfectly for us at a 30,000. What level? So if you look at this slide, the first thing I'd like you to take note of is those 3 numbers on the left hand side, 908078. What those are telling us is that nearly every participant in this McKinsey study responded strongly agree with the three accompanying data points. And as you read them, I hope that'll become clear to you as to why. But there is a common theme that runs throughout this and and it's really that the, the high net worth. Investor. When they're looking for an advisor, they do not expect you to be an expert in everything. Rather, they'd prefer that you're not. They do not want someone who knows a lot about or excuse me, that knows a little bit about a lot of things. Rather, they want someone that knows a lot about one thing. And that thing is that their family, their goals, their aspirations, the way that they want to live their life. The expectation is then once they find an advisor. Truly aligned with them, that advisor goes out and builds a network of subject matter experts that they can leverage for various points of view insights, all of which the advisor collects and brings. That high net worth investor they can use to inform the decisions they make together, right. Very different from what we maybe see day-to-day in terms of our interactions with clients now here at Brinker Capital and Orion. It's not that we didn't believe McKinsey, to be clear, they are the best. The best in the consulting world, but we did our own research. We went out to a group of high net worth investors and we laid out the Brinker Capital Wealth Advisory value proposition, much like Tom just did for you. And we had similar results. Nearly 3/4 of the respondents told us that if they had an advisor that was availing themselves of the framework, the infrastructure, the resources that Brinker Capital's wealth advisory offering delivers, that advisor would be enhanced in their eyes. Think about that through a partnership with Brinker Capital and the Wealth Advisory Group. You as an advisor can be seen as bigger, better and more capable when you're engaging a high net worth prospect. Now I think we should pivot and talk about advisors themselves, your peers, what are they finding when they look at the high network landscape? First thing off the bat is that everybody is competing for a place in it. You'll see here that nearly all of the advisors that have high net worth clients are looking to continue to add them to their practice and 90% of advisors that we talked to were currently engaged with a high net worth prospect. These engagements, the wins, the losses, the trial and error though yielded some pretty interesting insights from these advisors and that is a high net worth investor expects more. They want to see solutions beyond the portfolio right? Creative ways to leverage lending, customized tax plan. Not surprisingly, they expect customization, right? These are people that buy custom homes, they wear custom suits, they drive custom cars. Of course, they'd like to see an investment portfolio tailored specifically to that. We also see that exclusivity becomes very important to the high net worth. Honestly, it might be a cornerstone of it, right? When you achieve wealth, you gain access to things that other people don't have, and they want to see that reflected in their investment portfolios. They don't want something that everybody else on the street has. So advisers recognize they need a partner and when we ask them what the ideal partner would look like. We were really pleased with the results because they line up with what we know the high net worth investor demands. The advisors we talked to said we'd love a partner that puts us on the same side of the table as the investor, right. So we have that alignment. Two, we want someone that's going to deliver us extensive research, insights, due diligence that are going to be better informed decisions we make around the clients portfolio. And then finally, we need someone who's going to help us go beyond the portfolio, right, be a place where we can access a wide range of additional. Services to execute on the needs of our clients and really make sure that that client doesn't have to go beyond us. So we think back to Tom's comments, the structure of Brinker Capital Wealth Advisory, I look at this list and I really say check, check, check. Now let's look at it from the other side. What's holding financial advisors back, right? Why aren't they more successful in that space? What are the obstacles they face? Well, when we talked to financial advisors and what concerns them in the high net worth space, we got some interesting answers, I can tell you anecdotally from my time in working with financial advisors. Often we would get to a conversation around high net worth that segment of your book your your client base. And many advisers say, you know, Ryan, frankly, I don't work there and it's because I don't want to. Those clients are demanding. It's time consuming. It's not for me. I'm really happy, you know, sort of with my my current client base, those $500,000 households. And I would nod, but ultimately I knew the answer because as conversations progressed, we got to the statistics that you see here today. And look, we know that. We want to be in this space because by being here and being effective, we increase revenue. The fact of the matter is most advisors when they're looking at going after high net worth client, they get concerned about how they're going to do it and whether or not they can actually execute right. Are there portfolio management capabilities going to be there? Do they have enough time to bring on high net worth client and what they want to do it at the expense of other clients, the resources that we know. High net worth client might demand, can they bring those to the table right? These are all valid concerns and the wonderful thing, some of the most rewarding interactions I've had working with advisors is overcoming these fears by walking through what we do at Brinker Capital Wealth advisory and giving them the confidence to go out and begin to build their book of High network business. Now I come back to this slide to emphasize that point, right. While we talked about in the beginning to highlight just how big the opportunity was, it's important to understand there's a bit more nuance, right. As Tom said, our minimum is $1,000,000. So what we endeavor to do at Brinker Capital Wealth Advisory is help advisors across what is a much broader range of high net worth investors. So if we look at the bottom left here in the saver circle. That's a euphemism for the mass of fluid space. Really what that breaks down to is individuals with 200,000 to $2,000,000 of investable assets. As we move up, that's your five, ten, $15 million opportunities. And as we continue to the top left, that's where we come into the generational wealth right, the 51102 hundred, $500 million foundations, endowments, ultra high net worth families. We built this offering. To help advisors across the spectrum. So yes, we engage with advisors who have nothing but high net worth clients and we've helped them be more successful. But we also take advisors who don't have a single high net worth client today and help them build really run rate business on the lower end of the range 234 million dollar families that they are onboarding regularly through our process. So I want you to understand whether you are working with the high net worth today or you are hoping to. This offering is designed to help you improve regardless. Now as I begin to wrap up, excuse me, as I begin to wrap up my slides today, I'd like to talk a little bit more about what occurs day-to-day. Right to this point, we've talked framework, we've talked concept, but what does this team do for you, the advisor and ultimately your clients on a day-to-day basis? And what we're really talking about are Brinker capitals, core competencies, which go back all the way to 1987. So I'm going to talk briefly about asset allocation and manager selection. When you think about Brinker Capital and you think about asset allocation, really I hope there's three words that come to mind, dynamic, objective and continuous. So when we talk about a dynamic asset allocation, it starts in partnership with you. We are going to collaborate to figure out the baseline mix of risk assets to stable assets for these high net worth clients. And then our team is going to follow the markets, the economies, the UPS and the downs and ultimately determine. How we can work around that baseline? Shifting the allocation slightly to make sure that these clients ultimately, hopefully overtime participate a bit more in good markets and a bit less in bad markets. But we recognize now knowing what we do about the high net worth investor that this can't be done blankety, right. This is actually implemented on a client by client basis because each client will have a different mandate. Each client will have a different tax situation where capital gains threshold. So while these ideas are going to be formulated from our asset allocation committee, the implementation will be in concert with you, the advisor and on a client by client basis. So what goes into an asset allocation decision? Well, it starts with research and it Brinker capital. We actually take a view similar to that of the high net worth investor, right. Objectivity is very, very important to us. So we do our own research as we've done for nearly four decades, but we recognize that there are other very smart, very successful investment professionals out there. So we spend significant dollars every year to buy their research, understand it. Relay it to our team against our own thoughts. We also pair that with the strategies of, excuse me, the thinking of the strategies that we put into portfolios. The idea is we have an objective view of the knowledge, we make sure we digest it in the right way and ultimately come to a very well-rounded decision for for client portfolios. Next what you'll see here on the screen are 16 factors that our investment team is looking at. Daily, Weekly, monthly, right, short term, intermediate term, long term factors that change in which might present an opportunity for us to alter an allocation for a client, put them in a better position to win given current market conditions. However, that is again done on a client by client basis in concert with you, the advisor. So as we've discussed what dynamic asset allocation Brinker Capital implement, we need to then discuss manager selection, right what? Actually goes into the portfolios, how we come to those decisions. Broadly speaking, you'll see portfolios built with the vast majority of holdings being individual stocks and individual bonds delivered through separately managed accounts. We will round out the allocation using mutual funds and ETF's if the opportunity is there and viable. We've used partnerships, we've used hedge funds. It is all about finding the right vehicle to execute on a particular sector of the market. For a client. The process that Brinker capital brings to the table in terms of manager selection and due diligence is one of the most rigorous available in the industry today. The idea is we want to cast a very wide net. We will look at firms that we're all familiar with. The Fidelities in Northern Trust of the world will also go into the institutional space managers like Strategus or sardax searching for ultimately the best of breed portfolio for these high net worth. Investors as you can see here in front of me, the various phases of the research process we are going to subject these managers, all of them whether you are well known and large like fidelity or you are smaller institutional, you go through the same exact process which includes on site visits from our due diligence team. Ultimately, so we can get crystal clear on three things. We want to understand how the strategy has gotten to where it is today. We'd like to understand what they believe their opportunity set is in the future. How do the capital market assumptions of a large or mid cap equity manager line up with our view of the markets and the economies? And then ultimately we want to understand their process and this might be the most important part. If you understand the process that goes into formulating an investment decision within a strategy, then you understand the individuals that contribute to it at Brinker Capital. We monitored the personnel at every one of these strategies as closely as we do the decisions themselves. It's been our experience that one person can absolutely be mixed material to the ongoing success of the strategy and it's not always who you think. It's not always the high flying portfolio manager. We've had scenarios where a single research analyst who's never been on a fact sheet or on Bloomberg or CNBC has left. We believe they were the majority of the value for a particular. Strategy. So as we talked about monitoring the markets and the economies day-to-day in the 16 factors, we're doing the same thing with the strategies that make up these portfolios, right. The key here is being objective, looking at active and passive big managers, small managers. In fact, if we use anything proprietary like our custom indexing solution, we don't apply a fee to that because we don't want our opinion of what goes into the portfolio to be encumbered by anything other than the merit of the investment itself. So I hope now as we've come to the end of understanding what wealth advisory is, why advisors choose it, why high net worth investors choose those advisors. My hope is that you're asking yourself how do we get started in working with Brinker Capital Wealth advisory through OPS? And for that, I'm going to turn it over to my colleague, Don Batham. Thank you very much, Ryan, and thank you all for joining us. You've heard a lot of information from Tom and from Ryan. About our wealth advisory offering that we're launching on Orion portfolio solutions, you may be thinking how do we get started? So let's just take a look at some of those next steps. The thing that we want to make sure you're aware of is we are here to help you through your journey. So connect with our sales team, your internal or your external. We're here to guide you through this process. Reach out to us. We can answer any additional questions that may not have been answered on our webinar today and we can also put you in touch with our wealth advisory team as we will throughout the process. The other thing you know, Ryan mentioned that you do have some clients probably that you're working on right now that you might think will be a fit for this offering. So let's talk about those clients, bring those to our attention and let's start the ball rolling. Leverage us for as little or as much of the process as you want. We're here again to guide you through that process. So once you've reached out to your sales team contacts, we're going to set up a wealth advisory Rep code for you. Where you can view your clients right in the OPS portal. Some things that you'll want to think about as you begin those conversations with our sales team is what are the unique needs of your client. Make sure you have the client statements because we'll want to look at those to understand the client's current positioning, what accounts they have, and how this wealth advisory account will play into the overall situation for your client. Also think about what tax consequences. Sequences the clients may have, are there other assets that need to be considered? Do we need to transition this portfolio over time? Does the client have a certain capital gains budget that they want to adhere to? All of those things are going to help us as we begin our discovery call. So that will be the next step in this process is the discovery call. I know Tom went over that with you. We talked about it earlier, but our wealth advisory professionals are going to be here to help and guide you. Through that discovery call, we want to know your client just as well as you do. It helps us to build a customized unique portfolio for the client. When we're doing the next phase, which is the proposal, the proposal is going to give you an overall view of that clients account and what we're proposing for them. If you want us to go through that proposal with you and give you talking points so that you can relay that information to the clients, we're happy to do that or as I said before. We're here to help you. We will be on that call with you to present it to the clients. Whatever you want us to do to support you in this process, we will do. The next phase will be paperwork. So how do we do paperwork? You may be used to doing the new account wizard on OPS. This will be a little bit different. We are going to hand hold you through this paperwork process as well. We will have one of our team members that specializes in wealth advisory paperwork complete that paperwork for you and make sure that you and the client. Have exactly what you need to get that account opened and again after the account is opened what comes next? Well that's really where the rubber meets the road. That's where our CFO a that is going to be assigned to your clients account will be there to assist you in ongoing conversations and reviews with your clients. Hopefully we've given you a lot of information that can help you in the decision making and getting this process started. Again, reach out to us. We're here to help you. We are going to take your. Questions. Now please know that if we don't answer your question today, our sales team is always here to assist you. Thank you for joining. All right. Thank you, Don. Appreciate that. So as a friendly reminder to ask your questions, just simply click on the little button in the bottom of the screen, type your questions in there and we'll do our best to get to those. So we do have a couple of questions queued up. Don, let me hit you with the the first one that's there. The question is what custodian banks is this? Are we able to interact with at this point? Great question. So today we have the offering available through TD Ameritrade. And fidelity I WS. Alright, super. And could you also just touch on this a little bit more about assisting people with paperwork for wealth advisory accounts? Yes, of course out there of course, yeah. And that's a little bit different than how we handle paperwork typically on Orion portfolio solutions. So I'm not surprised we have a question there. So the process will be, we have an expert team who is done nothing but wealth advisory paperwork and they are going to be completing that paperwork for you. They will be providing it to you and to your client so that everything you need is already set up and ready to go. The client just needs to do their sign off and you do yours. Alright, thank you, Don. Alright, another question that we have here is along the lines of cost. How about Donna Ryan, I'll take that and then feel free to add additional color. So as far as cost go it, it will vary. It's going to be a function of what we're doing within the portfolio, how we're building or tailoring that portfolio, portfolios that have more passive management, we'll have a a lower cost. Those portfolios have more active management or maybe tilt more towards equities at the expense of. This income because of the underlying management fees with those strategies that will factor in as well. But at the end of the day it is an all inclusive cost to the end client which will include your GDC as an advisor or your your payout brinkers asset management fee as well as the underlying fees associated with any of these separate account managers as well and of course the custodian banks as well Ryan and done anything to to add to that? Tom, I'd added two other factors that that will obviously influence pricing, the overall size of the opportunity and then the number of registrations that we're working with. One of the great values of of working with Brinker Capital Wealth Advisory is that we will take into consideration the IRA, the Trust, the joint account and build a cohesive investment plan across them. All of those things do ultimately have an impact on what the total pricing ends up being. Hey, Ryan. I'm really glad you mentioned that because it made me think about household pricing and I know that wasn't specifically in the question, but maybe we'll just throw it out there is that we do offer household pricing, meaning if you have the, you know, Mother, Father combination with a couple of kids, we will view that as just one family relationship and price it as if it's just one account. So just something for everybody to to keep in mind. Ryan, I was noticing there's a question here sort of a follow-up on auxiliary. Services, Umm, the question is, I know Brinker works with some outside experts to offer different items. Would you like to maybe just touch on that for for a bit? Certainly. So we saw the theme of going beyond the portfolio come up during my slides today. It will depend on your broker dealer, your RIAA, exactly what's available to you. But we have at Brinker Capital come up with a curated list of partner services and the goal here is twofold. One, absolutely we want to execute on all of the. Needs, desires, requests that high net worth investor might have, but maybe more importantly for you our advisor partners is we don't want them to have to go beyond you to get them. So whether again I mentioned earlier creative Lending solutions, it's tax transition, business valuations, potentially even trust services. We want to make that availability, that process seamless as you engage with our wealth advisory team. Super. Thanks. Thanks, Ryan. Don, this is be a good one for you. There's just a general question like how can I get started. I know you may be touched on that a little bit already, but if you could just maybe highlight some of the items there. So somebody's interested what do I, what do I, how do I get moving here? Of course, thanks. So the best thing to do is contact our sales contacts here at Orion. We are here to help you and assist you. We can guide you through the process, have some statements ready, have details for us on the number of registrations. That might be included what you're looking for, any tax considerations that we may need, but you can kick that all off through our sales team. So we're the first point of contact for you on that. Alright, thank you Don there there's a question here basically how long does it take one to get a proposal, I'll I'll jump on that one. You know quite frankly it's a bit of it depends. You know both Don and I talked about the discovery calls that take place. You know if it's a simple situation where maybe it's one registration with cash, sure that's an investment proposal that we can turn around with you know within 24 hours. However if it's a situation where it's. Complex maybe things going on outside of their portfolio, multiple registrations that may require us to do a couple of discovery calls. So the turn around time will be longer there. I guess the emphasis here is that these are tailored portfolios, they're not off the rack sort of speak. So we want to make sure that we allow for enough time to get all the questions that we need answered to, to really build a solid portfolio that you as the advisor you're going to be very satisfied with and. That's your your end client as well. Yeah, Tom, I just add in there. It's why we go through the discovery process. The more information the better and frankly while taking a little more time might not seem convenient, we've actually seen that it ends up being a better result as we capture more data, more insight to build ultimately the best portfolio for the client. Super. Thank you, Ryan there. There's another question about considering outside assets. So I'll I'll I'll jump on on that one. And to be more specific, do we consider outside assets when building portfolios? And the answer is absolutely, you know as I like to say sometimes there's factors that take place outside your portfolio that influences what you do inside your portfolio so we can build complementary asset allocations. You know in the past we've we've done scenarios where there's. Insurance that we want to consider in building the allocation defined benefit plan that's paying out distributions or even outside holdings or concentrations that we want to be aware of when building that portfolio. So absolutely it's a fairly standard that we are engaged in those that type of activity. So not a problem whatsoever. All right, it looks like we hit most of the questions here. All right, here's one more. Don, this is probably in your neck of the woods. The question is do I need to log on to different websites to see my wealth advisory account? So maybe you could chat about that. And feel free to expand of course, so you don't need to log into a different website to see your wealth advisory clients through the Orion Portfolio solutions platform. You will go up to your name when you're logged into our advisor portal. When you click on that, you'll be able to toggle between the different Rep codes. You will see a Rep code that's titled. Your name and then dash OPSWA for wealth advisory. You will know that's the Rep code that we will house all of these accounts under. So that would be where you would go to view your client information if you're looking to do that. All right. Super dawn. Well, Donna Ryan, thank you and of course thank you everybody for listening in to our to our webinar. We very much appreciate your your time and attention. Should you have any questions at all, we encourage you to reach out to your Orion representative and we will be more than happy to try to to answer those. So once again thanks a lot and have a great day. Bye. _1732327774423