Published On: August 26, 2024By

In a world where “conflict of interest” has become one of the most commonly used phrases in RIA disclosure forms, it’s easy to see why trust can be hard to come by. Our industry often prioritizes proprietary products, cash sweep accounts, and marked-up services, leaving advisors and clients worse off. This got us thinking: how can we do things differently?

A Balanced Approach: The Three-Legged Stool
Consider the concept of a three-legged stool. Each leg represents a key stakeholder: the end-client, the advisor, and the shareholder. Stability hinges on the balance of all three legs, and when one is compromised, the stool wobbles.

By ensuring that everyone’s needs are respected, we create a foundation of trust and mutual benefit, establishing ourselves as a true partner. Imagine if every decision you made took into account the balance and well-being of all involved. It’s a mindset that promotes equity, transparency, and mutual success, embodying the phrase, “When you win, we win”.

Aligning Interests and Fostering Growth
Aligning interests isn’t just a business strategy—it’s a philosophy. This approach allows us at Elevation Point to focus on helping advisors (you) grow your business and bringing together the best solutions, technology, and experts to serve you and your clients.

Here’s how this works in practice:

  1. Partnership from Day 1: Consider the importance of forming relationships with a mindset of partnership. Aligning interests from the start sets the stage for mutual growth and success. At Elevation Point, we practice this by taking a minority stake in your business from the beginning, ensuring our goals are aligned while leaving you in control. We don’t want to change what makes you great.
  2. Open Architecture: Embrace flexibility and freedom in your approaches. Just as open architecture empowers advisors to choose the best tools for their clients, being open-minded in your strategies can lead to more personalized and effective outcomes. Elevation Point reflects this philosophy by allowing you to operate with the freedom to serve your clients as you see fit, without being restricted by captive investment models, managers, or technology.
  3. Client-Centric Approach: Putting clients’ needs at the center of your interactions can strengthen relationships and enhance engagement. At Elevation Point, we’ve designed our experience with client engagement at its core, supported by an integrated ecosystem of the industry’s best fintech, bringing you closer to your clients than ever before.

Taking Higher Ground
Taking higher ground means prioritizing people and partnerships over short-term profits. By focusing together on what truly matters, we can create a more balanced, fulfilling, and successful path forward.

Questions to Consider:

  • How are you balancing the needs of different stakeholders in your life or practice, and what steps are you taking to ensure that everyone’s best interests are considered?
  • In what ways can adopting a partnership-first mindset enhance your approach to business and client relationships?
  • How can you apply the principle of balance to improve both your personal life and professional interactions?

Ready to elevate your practice? We’re here to support you.
Learn more at elevationpoint.com.

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