Hayden Royal
March 14, 2019
Helping independent advisors build generational legacies on behalf of their clients.

INDEPENDENT ADVISORS ACHIEVE CUSTOMER GOALS WITH DIGITAL FINANCIAL PLANNING

Independent advisors embrace a new business model of high-touch customer services and leave behind purely transactional relationships with clients at Wirehouses.  

Brokers compensated with commissions earned from the sales of products and services in the catalog of Wirehouses have interests that are not necessarily aligned with those of their customers. Independent advisors choose a flat fee compensation model, or a percentage of assets managed, which frees them to make decisions that benefit their customers.

A financial advisor working with a client on a tablet device.

The hallmark of the business of independent advisors is goal-targeted financial planning that is product and vendor agnostic. This encompasses not only investments in securities but also the cumulative impact of insurance costs, taxes, credit card, and mortgage debt, spending and budgeting, and unanticipated future liabilities. Indeed, clients are often unruffled by fluctuations in gains from securities and recognize that they oscillate with the business cycle or market corrections. They are more likely to agonize about unexpected future liabilities of healthcare expenses, college education of their children or the impact of taxes on their business income.

The choice of financial instruments that independent advisors offer is not limited to those available from a single institution employing them but picks from the entire universe of the financial world. That provides independent advisors with the latitude to diversify risks, choose bond maturities and durations concurrent with expected liabilities, and adequate liquidity to meet contingencies.

Independent financial advisors monitor the net cash inflows and the overall net worth of their clients at regular intervals, ascertain their consistency with long-term goals and recommend actions to adapt and remain on course to achieve long-term objectives. They frequently have dialogs with individual clients to make decisions.

Technology enables independent advisors to take part in this dialogue online. We believe that this encourages better collaboration between an advisor and the client. For this reason, Hayden Royal provides its advisors with access to the wealth management platform Envestnet.  Because most account management tasks can be automated, we think that this platform encourages advisors and clients to focus more on goals-based financial planning.

Hayden Royal plays a crucial role in helping its advisors keep pace with evolving digital technologies and it counts Envestnet as a trusted partner to that end. As the finest wealth management platform in the industry, advisors have access to a universe of investment options available from virtually any investment company, bundled into a single platform. This provides our advisors with an institutional quality technology platform without the overhead costs.

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