• Home: Leading Financial Advisor Recruiting Firm
  • About Us
    • Meet the Team
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
  • FAQs
  • Articles
  • Podcast
    • Industry Update
    • Independence 101 Series
  • In the News
    • Moves in the News
  • Tools for Advisors
    • 2022 Advisor Transition Report
    • Merrill Information Hub
    • UBS Information Hub
  • Contact Us
  • Subscribe for Updates

Questions? Call us: 908-879-1002

Contact us...
Diamond Consultants: Financial Advisor Recruiting FirmDiamond Consultants: Financial Advisor Recruiting Firm
  • Home
  • About
    • Meet the Team
      • Mindy Diamond
      • Louis Diamond
      • Howard Diamond
      • Jason Diamond
      • Barbara Herman
      • Deborah Aronson
      • Wendy Leung
      • Cathy Nichols
      • Debbie Wallen
      • Allison Brunwasser
      • Joshua Tomolak
      • Shelley Muzio
      • Caryl Felicetta
      • Donna Riopel
      • Kelly Griffiths
    • Testimonials
    • Case Studies
    • Representative Deals
  • Services
    • For Financial Advisors
    • For Independent Business Owners
      • Sell-Side M&A Advisory
      • Consulting
  • FAQs
  • Articles
    • Subscribe for Updates
  • Podcast
    • Industry Update
    • Independence 101 Series
    • Subscribe for Updates
  • In the News
    • Moves in the News
  • Tools For Advisors
    • 2022 Advisor Transition Report
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

Podcast

For Financial Advisors

An Inside Move from IBD to RIA: $300mm Advisor on Becoming “More Independent” at Commonwealth

Posted by Mindy Diamond

A conversation with Andy Harris, President and Wealth Manager of Evergreen Wealth Solutions

Overview

Andy Harris built a business from the ground up at ING, which he later transitioned to Commonwealth Financial Network as an independent broker dealer. Yet the desire for even greater independence led Andy and his team to transition to Commonwealth’s RIA platform in 2019. He shares key learnings for advisors considering both the IBD and RIA models, and the value each provides to the business and clients.

Listen in…

Podcast: Play in new window | Download (Duration: 39:24 — 54.1MB) | Embed

Subscribe: Apple Podcasts | Google Podcasts | Spotify | Amazon Music | Pandora | iHeartRadio | Stitcher | Podchaser | TuneIn | Deezer | Anghami | RSS

> Download a transcript of this episode…

About this episode…

It’s funny how many financial advisors’ journeys start somewhere outside of the wealth management world.

For Andy Harris, the field he was headed for was environmental studies. That is, until a temp job with Nationwide turned into a full-time gig, changing his mindset and career path.

While he may have gotten his start in the financial world at Nationwide, it was an interview with a friend and independent advisor in 2002 at Locust Street Securities (which would later become ING Financial Partners) that led him to the role of financial advisor.

Along the way, Andy learned plenty of the up and down realities of the wealth management world, building a book of business that he would later move to Commonwealth in 2015 as an independent broker dealer.

Yet the desire for greater independence led Andy and his team to transition to Commonwealth’s RIA platform in 2019.

Andy’s internal transition is representative of the “RIA-ification” of the broker dealer world. That is, firms are working to meet the evolving needs of advisors and their growing practices by offering multiple ways to affiliate and a “glide path” to greater independence without leaving the firm.

Today, Andy and his team at Evergreen Wealth Solutions in Williamsport, PA, are consistently ranked as one of the top affiliates of Commonwealth Financial Network.

Andy’s story is an interesting one that shares the evolution of one’s business life, building upon the vision and goals along the way. In this episode, he talks about that journey with Louis Diamond, including:

Andy Harris: An Inside Move from IBD to RIA: $300mm Advisor on Becoming “More Independent” at Commonwealth

  • The early development of his business—and why Andy selected Commonwealth to launch his independent practice.
  • The choice to launch first as an independent broker dealer—and why he later opted to slide over to Commonwealth’s RIA platform.
  • The thought process behind transitioning from IBD to RIA—and how that benefits clients service and his business overall.
  • The process of transitioning models within the firm—and what advisors need to be aware of based on his experience.

Plus, Andy provides key learnings for advisors considering both the IBD and RIA models, along with some sound advice: “When considering change, think about where you want to be not just for today, but for the next 5 to 10 years and beyond.”

Download: Going Independent with an RIA vs. IBD: A Comparison Fact Sheet

Please note: Your information is shared only with our firm in complete confidence and without obligation.

Related Resources

IBD vs. RIA Revisited: Two Independent Pathways for Advisors to Consider
When it comes to freedom and control, there are key differences amongst the independent broker dealer (IBD) and registered investment advisor (RIA) spaces that every advisor should be aware of. Read->

Exploring the Independent Broker Dealer Space
A Conversation with Andrew Daniels, Managing Principal of Business Development of Commonwealth Financial Network. Learn how the firm, 40 years in the making, has evolved, and how their model differs from others in the independent space. Listen->

Optionality Under One Roof: For Advisors Who Aren’t Quite Ready for Independence
Forward-thinking firms are tapping into the flourishing interest in independence by offering their employee advisors an independent option under the same roof. While it provides an easier path to greater freedom and business ownership, it may not be “independent enough” for advisors seeking ultimate control. Read->

Andy Harris
Founder and President

Andy began his career in the financial services industry in the late 1990s with Nationwide Financial Services, working his way through college at Ohio State University, where he graduated with a BS concentrating in finance. Gaining exposure to trading strategies and financial products while working for the trade desk at Nationwide Financial Services, Andy was asked to become the internal contact and liaison for a product designed for active traders. He worked closely with clients, financial advisors, senior management, and mutual fund managers in this role, which laid the groundwork for his decision to become a financial advisor in March 2002. Beginning his practice as part of the Comprehensive Financial Group, Andy’s training and mentors there have helped define his business model today as the agency environment provided the opportunity to partner with a variety of financial professionals, which has nurtured the team environment in place today.

Andy’s practice with Evergreen Wealth Solutions is centered on helping people make smart decisions with their money, and, in his words:

“We are in the business of helping our Ideal Clients get their financial house in order and help to keep it that way.  This gives them confidence about their future and allows them to spend their time with the people that matter most doing the things that are more important in their life than money.”

He works with other professionals in the areas of tax, legal, financial planning, asset management, insurance, and other relevant resources so that he has the capability to deliver truly personalized financial services for all of his Ideal Clients.

Andy and his wife, Elizabeth, spend the majority of their time with their young family and are passionate about food, friends, and family. In addition, Andy was a board member of the Northcentral Pennsylvania Conservancy and an active member of his community association. He enjoys biking (mountain, road, motor, and dirt), telemark skiing, jogging, shooting, and travel.

He is a member of the Million Dollar Round Table*, Northcentral Pennsylvania Estate Planners Council, and the Financial Services Institute.

Andy is also proud to have been recognized as a Chairman’s Level advisor for 2021—a distinction based on annual production that places him among the top 4 percent of advisors affiliated with Commonwealth Financial Network.  Each year, Commonwealth, the firm we partner with to help us better serve you, recognizes Chairman’s Level advisors by inviting them to an exclusive gathering of their peers, leading industry experts, and Commonwealth home office staff. Chairman’s Level advisors benefit from an intensive learning and networking experience designed to help them hone their expertise, share best practices, and provide ever-higher levels of service, education, and leadership to their clients.

Also available on your favorite podcast app and other media sites

                            

WealthManagement.com            Feedspot Top 35 Podcasts for Financial Advisors

 

Browse other episodes in this podcast series…

You may also be interested in...

Share
0

About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

    Subscribe to the Series

    Get updated by email when a new episode is added.


     

    WHAT OUR LISTENERS ARE SAYING…

    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      CEO, Sanctuary Wealth
    • I love the fact that you are talking a diverse group of people in our industry and educating us all. We are all doing our own thing, so it’s helpful listening to other interviews and hearing about different approaches to the business.

      Brock Moseley
      Founder, Miracle Mile Advisors
    • I didn’t realize what I could do until I heard what other advisors were doing. Then week after week, it was like the gaps were filled in. Without it, I wouldn’t have had the confidence to go independent. Even after transitioning, I still can’t wait for Thursday mornings to hear the latest interview.

      Jerry Davidse
      CEO, Presilium Private Wealth
    • Best new resource I have come across in a long while.

      Daniel Gude
      Senior VP at LPL Financial
    • I would say one of the best things I ever did was listen to your podcast. I listened to it a thousand times. There are so many aspects to explore. You’re driving blind until you actually engage a professional.

      Michael Henley
      Founder & CEO, Brandywine Oak Private Wealth
    • Fantastic Podcast and a must-listen for anyone considering Independence!

      Robert Walter
      President, Sanctuary Wealth
    • This is outstanding. Every team considering independence should listen.

      Chris Cooke
      Managing Partner, Cooke Financial Group
    • Every advisor at a brokerage firm should listen to this podcast. I’m convinced that most advisors don’t realize their real value. Do your research. You deserve your true value and going out on your terms. It’s your life’s work. Even if you don’t transition to independence, know your value and options in order to make an educated decision.

      Robert Harris
      Senior Wealth Advisor, Avidian Wealth Solutions

     

    Other Recent Episodes

    • Everything You Need to Know About Independence: An Industry Update
    • Andy Sieg: A Candid One-on-One With the Leader of the Merrill Thundering Herd
    • The Most Valuable Advice for Advisors and Business Owners
    Independence 101 The Basics for Advisors
    Feedspot Top 35 Podcasts for Financial Advisors
    We're available to answer your questions. Contact us

    Connect with us

    Search

    © 2023 · Diamond Financial Consultants, LLC t/a Diamond Consultants. All rights reserved.*

    • Leading Financial Advisor Recruiting Firm:
    • About
    • Services
    • FAQs
    • Articles
    • Podcast
    • News/Media
    • Tools/Resources
    • Contact
    • Our Locations
    • Privacy Policy
    • Site Map