In an ever-evolving panorama, there appears to be a consistently rising variety of trailblazers we meet alongside the best way. On this episode, these trailblazers are breaking new floor by deciding on the nascent Goldman Sachs Advisor Options because the custodian for his or her new RIA agency.
This story begins with a workforce in Beverly Hills that constructed an unbelievable enterprise at Merrill, managing a billion {dollars} in belongings.
After a decade of staying educated on adjustments within the business, they determined that it was time to disrupt momentum and take the largest leap of all: to launch their very own RIA agency.
And if making the leap to independence wasn’t sufficiently big, they jumped farther by launching their agency into uncharted waters. That’s, as the primary of their dimension to decide on the Goldman custody platform.
It’s a narrative that exemplifies the ability of imaginative and prescient and the conclusion that the one-size-fits-all methodology of an enormous agency like Merrill has its limits—significantly for many who work with excessive internet value purchasers.
Scott Shagrin, Ira Ravitz, and Lisa Westermark had their sights set on making a differentiated, high-end consumer expertise.
So within the fourth quarter of 2022, the workforce launched RIA Beverly Hills Personal Wealth, and only one yr later, Scott, Ira, and Lisa be part of Mindy Diamond to debate their journey, together with:
- Their motivations to go away Merrill after constructing a billion-dollar enterprise there—and why independence received out over the prospect of signing on to Merrill’s retire-in-place program or taking a transition deal from one other giant agency.
- Their due diligence course of—and what was distinctive about their expertise.
- Their option to go together with Goldman Sachs Advisor Options—and what it was wish to be “trailblazers” on the nascent platform.
- Their attraction to the platform—and why they felt it was the correct choice for his or her enterprise and purchasers vs. different seasoned choices.
- The transition course of—and what key classes they realized.
- And finally, what they will do as unbiased agency Beverly Hills Personal Wealth that they may not as workers at Merrill.
The episode shares an entire image of the thought course of a workforce goes by when contemplating change—together with weighing the choices of their agency’s retire-in-place program, a transition deal from one other giant agency, and independence. Plus, it affords candid views on life earlier than and after the transition.
