A conversation with Bryan Garris, Managing Partner, TriaGen Wealth Management
There’s a trend that’s been on the rise and shows no sign of stopping anytime soon: The drive toward independence led by the successors of multi-generational teams.
Because as senior partners get closer to making the decision of whether or not to sign onto their firms’ retire-in-place programs, next gen leaders are in the background looking at options that could provide a better future with greater freedom and control over how they serve clients and build their businesses.
And that same freedom and control extends to considering how the senior partners want to live the rest of their business lives.
The guest on this episode, Bryan Garris, is a next gen who found himself in that very position.
Bryan literally grew up in the business. As a child, he played in the Dean Witter office where his grandfather once worked, and his father Nick Garris and partner Orlo Elfes started building their practice.
Just out of college, Bryan joined Nick and Orlo at Morgan Stanley and in 2008 the team moved to UBS.
A decade or so later, Bryan started listening to this podcast, as well as those of Michael Kitces and others, and began questioning the value they were receiving from UBS—something he characterizes as a “misalignment” of the bank’s priorities with their own.
Bryan wanted what he was finding other independent advisors had: The freedom and control to serve clients and not have to worry about selling products or obligations to the bank. He wanted true open architecture and the ability to market and build their brand.
Ultimately, Bryan wanted to be a true fiduciary—and he could never see that as a possibility as employees in the brokerage world.
But with two partners who had far less of a runway meant getting them on board with the vision he saw for their business as an independent firm.
Yet it turned out to be a far easier sell than he expected.
In May of 2020, the team, then managing $330mm in assets, left UBS to form TriaGen Wealth Management in Calabasas, CA, with transition support from TruClarity Management Solutions.
Bryan talks candidly with Mindy about what motivated him to start “armchair exploration,” including:
- The drivers that made him investigate options outside of UBS—and why he felt independence was right for them.
- The conversations he had with his senior partners about their future—and how going independent could impact each member of this multi-generational team.
- The decision to pass on UBS’s ALFA program—and how they solved for Nick and Orlo’s ability to monetize their life’s work upon retirement.
- The challenges a next gen advisor faces when trying to establish their role in the business—and what Bryan did to ensure he was “carving his own path.”
- The “misalignment” with the firm that he and the team felt—and how that impacted their ability to serve clients as fiduciaries.
- The choice to work with TruClarity—and what Bryan saw as their value in the due diligence and transition processes and beyond.
As Bryan learned more about what others like him were able to achieve in independence, he wondered, “Why not us?” It was that threshold moment that gave him the courage to build a clear vision for their future and a path to achieve it as TriaGen Wealth Management.
It’s a great story that shares how the next gen is leading change—not only in individual practices, but in the wealth management industry at large.
UBS ALFA Program: Understanding the Real Impact on All Advisors, Their Clients, Their Teams and Their Future
Uncovering the potential – and hidden risks – of retire-in-place programs like ALFA often comes down to answering these 8 questions. Read->
Michael Kitces on Everything Financial Advisors Need to Know About Growth
A conversation with the industry thought-leader, financial planner and host of the popular blog and podcast series. Listen->
Michael Kitces on How to Differentiate and Grow in a Competitive Environment
One of wealth management’s leading voices shares his thoughts on the fundamental shifts in the industry, the leveling of the playing field and what advisors need to do to compete and thrive. Listen->
A Diehard Merrill Advisor’s Journey to Independence
With Michael Henley of Brandywine Oak Private Wealth and Louis Diamond of Diamond Consultants. Listen->
Bryan Garris, CFP®, CEPA®
Bryan Garris is a third-generation Investment Advisor Representative, a founding partner of TriaGen, and someone who knows that earning and keeping his clients’ trust is the most important part of this business. Raised in the industry, he co-founded TriaGen Wealth Management to carry on the mission of his father and grandfather: helping people create, grow, and protect their wealth for generations to come. Bryan understands that finances are highly-personal and that’s why he’s passionate about taking the necessary time to get to know his clients and understand who they are, what they care about, and what they hope to accomplish before he makes financial recommendations.
Growing up in Southern California, Bryan studied hard and was active in a lot of different sports where he learned life lessons that he still uses today. His talent and ambition gave him opportunities to play Division III football in college, but instead, Bryan chose to go the academic route at UC San Diego in La Jolla to study Management Science and Business Economics. During that time, he began working with his dad on summer breaks, and he saw firsthand the incredible impact that advisors can have on people’s lives. Always motivated by making a difference, those summers convinced Bryan to follow in the family footsteps and become an advisor himself.
Over the last decade, Bryan has continued his financial education by earning two advanced designations: CERTIFIED FINANCIAL PLANNER™ and Certified Exit Planning Advisor (CEPA). Bryan was recognized in 2019 as a “Forbes Next Gen Best-in-State Wealth Advisor”, one of his proudest professional accomplishments to date. He is also a Registered Representative with M.S. Howells & Co and currently holds a California Insurance License.
When he’s not in the office, Bryan spends as much time as he can with his wife, Stevie, their sons, Duke and Rocky, and his newborn daughter, Harley. He still follows a lot of sports, and even plays pick-up games when he can find the time. But in the phase of life he’s in, working and raising a young family keeps his calendar very full!
This podcast is also available on…