What drives a wirehouse advisor to make the leap to independence? And what happens once they get to the other side? Hear it first hand in this one-on-one interview with breakaway broker Matt Celenza.
Many advisors come to us seeking a clearer picture of what the journey to independence is “really” like. That is, beyond the hype and the headlines—focusing instead on the mindset, motivation and processes an advisor goes through before, during and after they make the leap. So Mindy reached out to Matt Celenza from Boulevard Family Wealth, a multi-family office managing approximately a billion dollars for ultra-high net worth clients, which he founded in July of 2017.
In our candid interview, this 20-year wirehouse veteran shares extraordinary insights from his journey to independence. He discusses how his genuine desire to have complete freedom to build his business and service his clients as he saw fit became the driving force behind his successful move—and how that excitement trickled down to his clients.
To “own something,” as he noted, is the dream of so many entrepreneurial folks. So if that’s where your mindset is, as Matt said, “Take the time now to get educated and explore.”
Mindy’s conversation with Matt addresses the answers to these questions and more:
- What were the major catalysts that drove you to independence?
- How did your clients – especially sophisticated UHNW – react to your decision? Were they concerned about you leaving the big brand name behind?
- How did you justify giving up the short-term pay-off of a retention or transition deal?
- Why did you go the RIA route as opposed to becoming an independent broker dealer?
- What are some things you are able to do – or anticipate doing – that you couldn’t do as an employee of a brokerage firm?
- What was going through your mind the day you actually resigned from Merrill?
- What can you tell other advisors who are considering independence?
This is a rare opportunity to sit in on a “real” conversation that offers valuable information for advisors who, like Matt, desire greater freedom and flexibility in servicing clients, growing a business and ultimately maximizing its enterprise value.
Podcast: Play in new window | Download (Duration: 31:17 — 43.6MB) | Embed
Subscribe: Apple Podcasts | Android | Email | Google Play | Stitcher | RSS | More
Related Resources
5 Trends from 2017 that Proved the Resilience and Relevancy of the Independent Space
In an industry marked by a year of turmoil, the spirit of independence has never been stronger. Read ->
The Math Behind the Move to Independence
Why so many advisors are going indy, even with stiff competition from hefty brokerage firm transition deals. Read ->
What Every Advisor Wants: The 4-Legged Stool
Independence has become the industry’s hottest ticket, solving 4 key requirements with a level of stability that advisors are growing increasingly comfortable with. Read->
2017 Landscape of the Wealth Management Industry
[PDF] If you are not considering a move, keeping up to speed on where the advisory world is heading will help you better understand how these changes affect where you sit today and how you will grow your business for tomorrow. Download ->
The Decision-Methodology Infographic
[PDF] Advisors use our proprietary decision methodology – illustrated in this infographic – to help assess where they’re at, what they want to accomplish, and how they want to get there. Download ->
This podcast is also available on…
Browse other episodes in this podcast series…
Photo credit: Matthew Celenza, Boulevard Family Wealth.