Hello and welcome. My name is Ryan Lestrange, and I'm a senior vice president at Orion and Brinker Capital Investments. I'd like to start by thanking all of you for taking time out of your busy days to be with us here. We know how valuable that time is and our goal is to make the absolute most of it while we're together. And I think that starts with the incredibly prudent. Topic that's on the forefront of the minds of most financial advisors today and that is how do I grow the high net worth segment of my business. The good news is the reason we're hosting this webinar is that we had Orion and Brinker Capital believe we have as good an answer to that question as anybody in the industry. And that is to form a partnership with Brinker Capitals high net worth solution, what we call wealth advisory to highlight the power of that partnership. Today I have three excellent financial advisors joining me. All three work with Brinker Capital's wealth advisory team, but have done so for varying periods of time. So it's my pleasure to introduce Will O'Donnell, Vicki Sode anger and Shane Payette. All three kindly agreed to share their time with us today, along with their experiences working with the Wealth advisory team and how it's helped to build the high net worth segment of their businesses. So with that, I'd like to introduce you first to Will O'Donnell. Well, if you wouldn't mind providing a little bit of background on your business, your experience in the industry and how long you've worked with Brinker Capital's wealth advisory. So are they saying, well, you know, I didn't take the typical path to the financial industry. I've been doing this now for about 8 years. I retired from the military back in at the end of 2014, spent 20 years in the Air Force, in the army. So how did I get here? Right? Well, you know, when I was getting ready to retire from the military, you know, I was trying to figure out what I want to do when I grew up. And, you know, I always loved, you know, managing my own money. And I was like, well, this is what I want to do. So. As to the last couple of years that I was in the military, you know, I went back to school online, got my masters at University of Alabama and took all the courses for the CFP certification. And then likely when I retired, I got here in New York. You know, I, I got picked up, you know, by a couple of guys that got me started helping me get, you know, get into the industry and, you know, basically build up my book from there. So it's been eight years and a lot of trial and error. You know, I started out, you know, trying to build and manage my own portfolios and then I decided, you know, it's just I wanted to be more of an advisor than a money manager. So, you know, Long story short, you know, working with third party party managers over the years, I was fortunate enough to meet with the mark from Orion platform services and you know, for about the past year been working with him and also with Breaker, so about two months ago. And met some of the gentlemen from the High network team and you know, and they brought me on, they got me started there, so. That's that's my practice in that show. Fantastic. Thanks so much and I know a resident of Rochester, NY. Thankfully a little bit further E than your friends in Buffalo, so the snow hasn't been quite as bad. Thank you, will. And with that, we'll turn it over to Vicki Stodgier. Vicki, thanks so much for joining us. Yeah, sure. So I've been a financial planner for about, so almost 17 years now. After college, I had worked for one of the Big four consulting firms. And so I used my experience there to segue into financial services. And I built a practice since then specializing on working with highly compensated executives at large consulting firms. As far as working with Brinker Capital, I've been, I've been using the destinations portfolios since 2012, and then I've been using the wealth advisory. Theme Since 2016 and finally I'd like to turn it over to Shane Payette for his introduction. Shane. Good day. You know, I've been in the industry a long time now, right out of college. Took the more traditional path. I actually started in Canada. Moved to the US in about 25 years ago and you know as we we grew our firm, you know our firm currently has an advisory practice and insurance practice and we have a CPA firm trying to set up our structure as a a truly one stop shop. So we've been doing this a while now and and we consider our practice to be a high net worth practice. So the relationship with Brinker we've worked with. Ranker since 2005, so a long time now, and we have had an outstanding relationship. The their abilities to help us has been integral in our our growth. Shane, thanks so much. And I can tell you being a longtime Brinker capital veteran myself, we appreciate that partnership very much. Yeah. So with that, I think it makes sense for us to transition and talk a little bit about what exactly Brinker Capital's wealth advisory offering is. Rinker Capitals wealth advisory offering very simply is a service that we designed to help financial advisors win, retain and grow high net worth relationships. We accomplish this by focusing first on the financial advisor, understanding your business, your strengths and the way that you engage with high net worth. Prospects, we do this so that we can amplify your value in the eyes of the client through the implementation of our custom built investment portfolios and leveraging our suite of auxiliary services designed to go beyond the portfolio to meet the objectives of the high net worth investor and really to ensure that those investors don't have to go anywhere beyond the trusted advisor that we're lucky to partner with. We've done this for nearly forty years at Brinker Capital and over that time we've honed A3 step process that we call discover, design and deliver. Today what we'll do leveraging the experiences of Will, Vicki and Shane is touch base on each step of this process where advisors are finding value in it and again ultimately how they're leveraging this process to grow the high net worth segment of their business. So with that, we'd like to transition back to Will O'Donnell, who's going to talk through his experiences with wealth advisor to this point in the context of the discovery phase, right? Well, as you mentioned, your exposure to wealth advisory is relatively new. What I'd like to start with is you just talking about what attracted you to wealth advisory and what you found compelling about the offer. Sure, that's right. Well, as I mentioned in my intro, you know I've been using third party money managers now for several years and most recently in the last year or so with Orion platform. You know I discovered Brinker you know is one of my the strategies that are used for my clients. And the great thing about you know using third party money managers is you know, they bring that wealth, they bring their, you know, overall strategy too that the client as part of their overall portfolio. And breaker in particular, you know I discovered in the last month or two that they have a special team that helps just with the the high net worth, high net worth clients and you know I'm pretty new into the the field with a high network clients and so this is a great opportunity for me to grow my practice along with Brinker. Yeah, wonderful. And I think we hear that quite often well where as you start to work into the high network segment, confidence is everything, right. And knowing that you've got experts behind you, your best interest to go ahead and and and execute on what we know high net worth investors looking for is huge. A big part of the process, the front end is discovery. And in that process we seek to understand you, the advisor, right, all of the things that you do as as part of your practice. And then we want to help you deeply understand where that perspective client is. We do in-depth analysis on their holdings. We work to formulate a plan. So as part of that we have what's known as the discovery call. Can you talk a little bit about your first discovery call will? And what you found valuable about it definitely and like you said it's you know, it's it's great that I have this opportunity to grow that part of my practice. You know along with the team here Brinker. And you know from my first call, you know, I was able to basically give you know snapshot of where the client was, you know, where their holdings were like their risk tolerance and that is just a general overview of where I thought the client was right now. And where they would like to be in the future and you know, with that. During the call you know the the team of Breaker was able to help me I guess. Data little deeper, dive a little more into, you know, what that high net worth client is really looking for, you know, compared to most investors. Yeah, wonderful. So talk to me a little bit about that. Well, as you got through the analysis portion, then obviously you're engaging with the team to figure out, OK, hey, next steps. One of the most critical is how are we planning to engage with this prospect and our team. The mantra is we fit into your process, not the other way around. As you were evaluating that, what sort of did you decide was going to be best? Was it working with the team? Alongside you to present to that client or was it sort of going through the prep and and you engaging that client directly yourself so and for me it was really. Remains easier just to have the team there with me from start to finish, honestly. So, you know, after I did the, you know, the discovery call, you know, I was able to tell the team, OK. You know we, we we were able to look at the portfolio together before the client and I was able to ask all the questions and get a general understanding but the same time I wanted them there resent the portfolio and the presentation to the client with me. So I basically I guess I can say turned over the reins to the team to you know to take it from there so. Does that make sense? It it really does. And I think that highlights well sort of what we hope to accomplish, right? We want to understand what you think is going to work best. And we often see that your approach is incredibly successful where by doing that you create a powerful dynamic. You put yourself on the client side of the table. And while we're certainly a resource of yours, an extension of your office, you're signaling that client what we know to be very true, the high net worth investor in that. They are your focus and the portfolio is is simply a way that we're going to to hope to work towards their goals. That's great. Well, last question, if you were talking to any of your colleagues or you ran into another advisor at a conference and they asked you about working in the high network space, what would be sort of the number one attribute of Brinker capital solution that you would doubt? Having honestly the the thing that I find most valuable about the whole process is that. Breakers truly there from start to finish. And you know, if there's any, anytime I have any questions or concerns or if the client has any questions or concerns, you know we can reach out and get an answer pretty quickly. They're there to clear up any confusion and just to, you know, make the experience. Just a great experience from start to finish, it really is. And I'm very happy to hear you say that. Well, that is the goal, right? This is not a product, it is a service and it is aimed at you, the advisor first, providing you that support every step of the way. We know that's going to lead to great outcomes ultimately for your client at the end investor. Well, thanks so much again for joining us here today. And now we're going to transition over to speaking with Vicki Stockinger, Maven planning, where we're going to discuss the design phase. This is where we take the great output of the discovery phase and coordinate with our advisors, the CFA charter holders at Brinker on the Wealth advisory team to really take advantage of our capabilities building a custom portfolio as well as those services that we offer going beyond the portfolio. So with that. Vicki, I'm going to or Vicki, I'm going to ask you our our sort of first question. So in the design phase, you know you get to take advantage of all of the different investment options and services that bring your capital has to offer. Could you share a time when you had this process, our ability to be so custom really solving unique need or problem for a client of yours? Well, First off, I'll start by saying that yes, every client is unique, but I would say that not every client specifically has a problem that needs solving. You know some clients just need to get investment management and they can benefit from the use of SMA's and tax loss harvesting that the wealth advisory team can provide. And so I will oftentimes use Brinker Capital Wealth Advisory team just because it frees up my time and my teams time to do what we do best, which is financial planning and you guys can do what you do best, which is portfolio management. But with that said, there was a client. You know somewhat recently within the last few years where she did have a very specific problem and I thought that the wealth advisory team did a great job in helping me and her solve for it. She had inherited about one and a half $1,000,000 in individual securities and a non qualified account and her father had gifted it to her and and he was still alive, which means that she inherited his low cost basis and we didn't want to just blow out this portfolio and have her realize like oh crazy. Ridiculous amount of gains. And so I worked with the Wealth advisory team really closely and and they were great. They actually created 2 portfolio proposals for me. One that was kind of like an interim portfolio and one that was the portfolio that we were trying to get to. And they were able to help me figure out like what is the least amount of gain that we could realize in order to get to at least the interim portfolio to get some decent level of diversification and. And they did that by doing a couple things. You know they they looked at the all of the different individual securities that my client had inherited. They did a mapping first against all the SMA's that they were thinking about using. So that way there was just a like in kind transfer there and then they worked with me and my client on determining like what our tax or what her tax budget was. And so then we were able to move forward with just that interim portfolio and leave the rest of the individual. Charities and unmanaged account and so then 2022 hit which while bad for many reasons was actually really really great for my client because it meant that these unmanaged securities were now at a lower fair market value lower gain to realize and Brinker capital was able to harvest you know so many tax losses that we were able to then move the bulk of what was left in the unmanaged account and and realized very very minimal gains on on that portfolio. Mickey, that is a fantastic example of what our team seeks to do. I appreciate the detail there. And I think what's really important about that is customization is not just how a portfolio looks. It goes beyond that into how we're going to get to the ultimate allocation over time, right. And it's a tax transition that we need to be thoughtful about because obviously a clients threshold for capital gains and absorbing them is going to be different year over year. Fantastic example. There was something else that you said there too. That I think hits on a theme that that runs through this webinar and that is our desire to fit into the advisors process, right? It's not the other way around. We don't expect you to conform to how we want to do things and you mentioned that your focus is financial planning. We also work with advisors who tend to be much more in the weeds, if you will, regarding portfolio construction. To that point, would you mind sharing? Now you engage with the portfolio consultants to design an actual allocation. Yeah, definitely. So I would say that I'm probably somewhere in the middle of what of the two sort of types of advisors that that you describe. So I do focus on the financial planning, but I do also take a look at my clients total household assets. And then First off we my team and I we develop a more of like a macro asset allocation. Of course I'm doing risk tolerance profiles where we want to make sure that the client. Is that we have an understanding of what the clients risk tolerance is and so let's say the client is 8020. So we take a look on our end to make sure that we're locating the assets that we want in the best place and taking advantage of the tax treatments and the various account registrations and then you know let's say that. I want to use Brinker Capital specifically for the non qualified bucket of money. I'll then work with the Bricker Wealth Advisory team to tell them hey you know these are all the assets that we have. This is my high level thought on like the asset location of what we want. This is the bucket of money that I would like you guys to manage. You know what are your thoughts. So it is definitely very much a team effort and you know they can give me feedback as well on whether on what they think of my macro allocation. And so we definitely work together to figure out then you know. But what we want to move to Brinker and sometimes it's more than just the non qualified account, right, maybe, maybe they've convinced me to also move some of the qualified money over to just get a better wealth advisory portfolio and experience overall. And so then once we've decided on that, they generate the proposal and we're off to the races. Yeah, fantastic. Again, I think perfect description of of how we want to engage with advisors, whether it's at a more macro level taking into account the entire household or again for some advisors who really want to dig into specific managers and strategies, we want to make sure that we're supporting our partners whichever way works best with their business and their individual clients. Fantastic. So final question, we talk a little bit about the services that we offer that go beyond the portfolio looking to serve high net worth investors really in any way we can and making sure that that's done through you the advisor, making you the focal point and and making sure that clients don't have to go anywhere else. Could you share an experience when using one of our partner services has been helpful with bringing on a new high net worth client? Say that the the ability to offer an S block the the securities based line of credit against the non qualified assets has definitely been a win for for me and my clients especially over the last couple of years with the COVID pandemic. You know there's so many people that want to do home renovations now that they were spending so much time at home but they didn't necessarily want to liquidate any of their investment assets, especially given the great volatility that was that we were all experiencing. During during that window time. And so having an S block really helped a lot of my clients create the cash that they needed in order to do these home renovations to like make their, you know, improve their quality of life at home. And then last year those S blocks also came in really handy because again with with such volatility in the market and the fair market value temporarily you know being very, very decreased last year again we didn't want to liquidate out of portfolios. I have clients that are in distribution. Phase and you know you you definitely don't want to liquidate assets in a down market. And so we were able to borrow money from the S block in order to help support their living expenses with the idea being that now as markets are coming back that will start you know slowly siphoning off some of the investment accounts in order to pay back that S block. So it's just a really good interim planning solution to prevent the liquidation in a down market. So well said, right. And I think for someone that focuses on financial planning, when you can work with a partner who's going to make those assets even more flexible, helping navigate market volatility, short-term needs of cash, you know obviously it's going to enhance the overall experience for the end investor. Vicki, I want to thank you so much for your time today sharing those experiences which were fantastic and I think again illustrate exactly what we try to do for our partners and. I want to thank you again for your more than decade of partnership with us at Brinker Capital. Wonderful. As we come to the last, the last part of the discovery design deliver process, I've got Shane Payette with me, certainly an industry veteran and I would say a veteran of working with Brinker Capital in the wealth advisory space. What we're going to talk about here is post win, right. Once we've gotten the client to to agree to move forward, we've on boarded them. This is where really for me the rubber meets the road in providing an incredible experience. For Shane, for his clients, so that we can execute on that retain and grow portion of of wealth advisory. So Shane thank you so much for for joining us today. I'd like to start really by asking you know how wealth advisory fits into your process. I said it before, our goal is to fit into your process not the other way around. Can you talk a little bit about how you've utilized our portfolio managers as part of your business? Absolutely. You know a number of years ago we made the choice that as we present to clients and as we work through clients needs that we would do it as a team internally. So we would we have our team each, each member of our team has different strengths. So we try to maximize on that. But part of that team we also decided was going to be wealth advisory and Brinker to help us present to the client. So we have set up now. That Brinker truly is almost an equal partner in those meetings with clients because we, you know we have a bit of a feeling that clients don't want to just hear from me and what I do. They, they would like to see the breadth and depth of our firm and what we can bring to help them reach their financial goals. So in doing that, you know that was really the kind of the driver of why we partnered with Brinker. Um and then wealth advisory inside of Brinker has really allowed us to expand our high network practice? That's wonderful, Shane. I think what I find so compelling about that is, you know, McKinsey did a study back in 2020 focusing exclusively on high net worth investors. And what they found was almost 90% of those investors said they wanted an advisor that built a network of experts that they could leverage. Right. The idea that the advisor is on their side of the table, but taking advantage of resources beyond the office, which is exactly what what you've built. One of the things we try and do, especially for firms like yours, that. Have grown so much and and provide such great experiences for their clients is create time right, some scale. Could you talk a little bit about some of the functions that our team goes through and the scale they provide to to you and your partners? Well you know that is a great question because you know a client is sitting in front of you and they're looking at you and they don't know what your exact skill sets are or knowledge base so. Our process is, is to engage wealth advisory from the beginning, from the opportunity and you know really lean on their knowledge that they bring to the table. And so their process wealth advisories process is one that that allows us to give the clients not only technical knowledge in terms of you know. Where they are now, how we're going to get from point A to point B in the future, but really bring it down to the level or up to the level that the client needs to, to understand their future financial goals and how to attain it. Wonderful. So what I kind of hear there, Shane is you're actually working with the team almost on a client by client basis to sort of plan around? The level of insights that we're delivering, the level of engagement. Absolutely, uh, you know as you know no two clients are the same, No2 clients needs are the same. And depending on the clients wealth you know there is, there can be very complicated situations and that's where I think Brinker can really shine and really does shine in helping us organize, you know, the plan forward for the clients. Fantastic. Gene having been a long time partner you've seen our resources grow the investments that we're making back in the business. Would you mind sharing a little bit about using some of the services beyond the portfolio construction whether it be you know securities, back line of credit or anything along those lines. Well you know certainly you know as Brinker has also grown with with our firm. There has been more offerings available and we have, we have tried to take advantage of those offerings like you say the the credit line and so forth. We have done that and because there's a nice process involved, it has been a very good experience for our clients, you know, but what? As you grow the the client, they are looking for other things because of their situation and because I can go to Brinker with full confidence that they are going to be able to to handle that situation. It just enhances the relationship with me because Brinker comes across the way they do, which is is so well in front of the client or in the client's eyes that I have complete confidence in no matter what. I'm I'm offering to the client from wealth advisory that it's going to be an excellent experience for the client and for me that's that's critical because it it it makes my job easier as an advisor if the partners that I'm working with are doing a great job and and that also goes to retention. The more services I can bring to the table and the client can use those services in a way in which they feel they were well taken care of that allows us to. Continue that relationship long term and it's not unusual in our firm. We've had clients for 25 years through the whole relationship that we've had with Brinker. You know that's not usually the case in the industry. Usually it's a shorter term relationship. Agree, very well said Shane. I think you know that correlates really well with with what we try to do in our offering. You know we have an extremely high retention rate, over 96% client retention rate within wealth advisory and we attribute that to two things. One. Taking advantage of great advisor partners, right, focusing on them first, but then also like you said, executing and doing our job well, doing it professionally. Last question, your practice is different from others in that it is very comprehensive on the investment, the insurance and the tax planning front. We know that taxes are a hot button issue, especially in the high net worth space. Could you talk a little bit about how you leverage? Our team to be tax efficient and what you've experienced from their oversight on your clients portfolios, well you know when we sit with a client you know we certainly go through an explanation of of what all of our services are from the accounting side, tax planning side, the investment insurance side. So when we're building that initial. Plan for client and there's tax related questions. Of course we're bringing in the tax side. We get it all clarified and then we go to Brinker and we work with Brinker to achieve the right tax status whatever the the tax issues, whatever the clients looking for. And and how our accounting side and the tax side presents it, we come to Brinker as part of that team. So when we're sitting in front of the client, it's just just not somebody you know two or three individuals with our firm as part of the team that Brinker and wealth advisor are positioned as you know say the fourth seat of the four advisors on the technical side and the tax planning side, we absolutely as part of our process we really do. The tax planning is a critical part of our our clients long term planning and we we are not only active with Brinker in doing that and and wealth advisory to ensure that we're maximizing the tax opportunities but it's all tied very closely with all the other services that we do. So a client you know is looking back and looking at what they're getting in in front of them and it's seamless like they. They often don't know exactly. I mean, they know intellectually, but in sitting around the table, it's one team, it's not our guys or gals and Brinker. It's one team. And that is a perfect way to present to a client. And because it's just so seamless, it's just part of the process. Yeah, fantastic, Shane. And I think that's what we all want to do when you're engaging with a high net worth individual, right? It's create a wonderful experience. So again, I'd like to thank you for your partnership and we've enjoyed growing our businesses together with you. I want to thank you again for your time today. It's been a pleasure. Thank you very much. So in conclusion, it's my hope that after hearing from those three excellent financial advisors, you see the power of a partnership with Brinker Capital Wealth Advisory. We are seeking to provide you the resources that we know high net worth investors expect their advisors to have. We're also focused on serving you so that you can create scale around going after the high net worth marketplace. My hope is you're asking yourself right now. Great. What are the next steps? How do I begin my engagement with Brinker Capital Wealth advisory? And the good news is it is very simple and we start with our process, discover, design, deliver. One of the easiest ways to get started if you're engaged with the high network prospect is to simply ask for a statement, share that with our team, let them do the analysis, everything from the asset allocation to the types of securities all the way to the tax situation that might exist as you transition assets. From there, they'll work with you to understand your thoughts and plans around that high network prospect they will work with you to. Build a custom portfolio to fit their needs specifically and ultimately then design a plan to provide the greatest experience possible for that high net worth investor on a go forward basis. Another great area to go to resource is the Brinker Capital Wealth Advisory website and as always the highly experienced highly credentialed sales professionals that you have access to, pick up the phone, give them a call, they are happy to walk you through that process. Get started capturing the portion of the high net worth marketplace that you deserve in your business. Thank you all very, very much for your time today. We look forward to working with you. _1732262306433