• 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
    • Advisor Transition Report 2022 – NEW!
    • 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
    • Transition Announcements
  • Tools For Advisors
    • NEW – Diamond Consultants Advisor Transition Report 2022
    • Merrill Information Hub
    • UBS Information Hub
    • Other Tools
    • Subscribe to e-Newsletter

Podcast

Independence for Financial Advisors

Breaking Up: A Former $750mm UBS Advisor’s “Split” for Independence

Posted by Mindy Diamond

A conversation with Robert Harris, Senior Wealth Advisor, Avidian Wealth Solutions

Many top teams are built on synergistic dynamics—where one advisor’s talents are complemented by another’s. These partnerships can provide the shared expertise that results in better service for clients and greater success for the business overall.

But, like any relationship, there often comes a point where partners may find themselves on different pages. And it’s particularly common when considering the future of the business.

That is, one may feel that the firm no longer serves them and it’s time to consider other options, while the other is content, with no desire for change.

It’s at that point where some reach an impasse that can only be resolved by breaking up the team to go their separate ways.

And the very scenario Robert Harris found himself in.

Having built a strong business at UBS over more than two decades, Robert started questioning the status quo and decisions that the firm was making—which made him wonder what value they were ultimately receiving.

But his partner didn’t share those feelings.

After an intensive due diligence process, and a lot of introspection, Robert made the difficult decision to break up the team to pursue what he felt was best for his high net worth clients and the business overall.

So in September of 2019, he joined Avidian Wealth Solutions (formerly STA Wealth).

Robert candidly shares his story with Louis Diamond, including:Robert Harris

  • The value of a partnership to both the clients and business—and how they are challenged when individuals find themselves with disparate visions and goals.
  • The potential impact of retire-in-place-programs (such as UBS’s ALFA) on team members at different phases of their careers—and what each advisor needs to think about when a partner is considering signing on.
  • The process one goes through when breaking up a team—and how Robert resolved that, both emotionally and financially.
  • The pushes and pulls that led Robert away from UBS—and how, after exploring different options, he was drawn to independence.

It’s certainly not easy to break up a partnership—particularly when strong feelings have developed over years of building a successful business together. But when the partners have different visions for the firm, it can be difficult to find a single path that will satisfy both.

As Robert candidly shares, it ultimately comes down to being honest with yourself and doing what’s best for the clients overall.

It’s an episode that will resonate with anyone who is currently in a partner or team construct—or considering one.

Podcast: Play in new window | Download (Duration: 44:38 — 61.3MB) | Embed

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

Download a transcript of this episode…

 

Related Resources

Partners at an Impasse: 4 Paths to Consider When Advisors Become Divided on their Futures
It’s not always easy to get everyone on the same page with regards to a move. Here’s what to do to avoid getting stuck. Read->

Can (should) this partnership be saved?
6 questions you and your partner should consider before you hit the fork in the road. Read->

For Better or For Worse
Is Building a Team or Partnership Right for You? Read->

Teams: The Powerful New Retention Tool for Firms|Being a part of a team can be a valuable way to build a business, until the ties that bind become a restriction on your future. Read->

 

Robert Harris,CFP®
Managing Partner

Robert brings more than two decades of investment management and financial planning experience in addressing the needs of high-net-worth families, entrepreneurs, and executives. He Joined Avidian Wealth Solutions in 2019. Prior to joining Avidian, Robert was a Senior Vice¬ President of Investments and Senior Portfolio Manager at UBS Financial Services Inc for over 20 years.

Robert works with clients to develop personalized financial plans to achieve their goals for retirement, investment, business succession, and wealth-transfer planning. He offers a true family office experience by utilizing Avidian’s in-house team of credentialed financial planners, attorneys, tax professionals, and investment analysts to assist in all aspects of his clients’ financial lives.

Robert graduated from Baylor University with a bachelor of business administration degree in Finance and received his CERTIFIED FINANCIAL PLANNER™(CFP®) education from Rice University.
As part of his community involvement activities, Robert is involved in coaching youth sports, multiple missions that focus on adoption, church planting, Bible translation, and Angel Flight. He is also active at Christ Community Church in Houston.

Robert and his wife, Ronna, have two sons, Luke and Logan. Robert enjoys traveling with his family, spending time at their lake house in Carlton Landing, Oklahoma, and all things aviation.

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…

    • Your podcast helped me a ton during my due diligence. There is no replacement for hearing from others who were successful leaving the wires. You are doing great things for the industry.

      Rory O’Hara
      Founder, Senior Managing Partner – Ausperity Private Wealth
    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      Founder - 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

    • Financing Independence: A Lender’s Perspective on Breakaway Transitions, M&A and Succession
    • Two $10mm Teams Leave the Wirehouse World in One Week: An Industry Update on Advisor Transitions
    • Advisor Transition Report: An Update on Advisor Movement Over the Course of 2022
    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