After decades with Lincoln, Aegis Consulting recognized a widening gap between their vision for the business and the direction in which Lincoln was heading.
Having spent our entire careers at the same firm, we didn’t take this move lightly. While our bias was to stay where we were, after an extensive due diligence process, it was clear that Commonwealth was the best choice for our clients, advisors, and staff. We don’t need to reinvent the wheel—we just want to make the wheel better, and Commonwealth gives us the ability to do that and run the business the way we want.
Michael Cirino
Managing Partner
Aegis Consulting
Alex Harrison and Mike Cirino lead an 11-person team, Aegis Consulting, headquartered in Jacksonville, FL. They grew their business to managing $1.24B in assets for high- and ultra-high-net-worth clients, family businesses, and salaried executives by providing advanced fee-based financial planning, wealth management, and estate and business succession planning.
Alex and Mike were loyal and fierce advocates of Lincoln for decades. Both started their careers at the firm, Alex 25 years ago and Mike nearly 40. Alex was a champion of all things Lincoln—and even chaired The Resource Group (“TRG”) at the firm.
But, over the last few years, their vision of what was best for the business began to divert from the direction in which Lincoln was heading.
For instance, the firm was commonly known for its planning-based culture and financial planning department—and, over time, those resources dwindled. And Lincoln’s technology wasn’t keeping pace with the rest of the industry.
While economics was not a driver, the team felt they were paying far more than they should relative to the value they received.
They would never have considered leaving, but the Lincoln they loved had changed. Plus, Aegis was looking to step up recruiting efforts with more competitive economics and a brand personality that wasn’t attached to the inherent stigma of the insurance broker dealer, but instead one focused exclusively on wealth management.
With Mike close to retirement, it became imperative to ensure the business was in the best possible place to endure beyond his tenure.
The partners hadn’t even considered picking their heads up to explore until a conversation opened up with Diamond Consultants. Together, they invested time in identifying what was most important to the team, what was impeding their growth, and their vision for the future.
From that exercise, we created a custom-curated list that best aligned with their needs, then narrowed it down to the top independent broker dealers they were most attracted to, and we later negotiated the details of the deal on their behalf.
Ultimately, Alex and Mike wanted to affiliate with a firm that had a boutique culture and a familiar feel of what was best about Lincoln. A focus on higher-end advisors, top-notch support, and advanced technology was also a priority.
At the end of the day, Alex, Mike, and the Aegis team opted for Commonwealth Financial Network.
As Alex shared, “Commonwealth has the best blend of award-winning support, integrated technology, and independence. Our partnership will make it easier for us to do business, allowing our advisors to be more productive and spend more time servicing clients and building relationships. Our goal is to grow the firm nationally, and we are in a better position to do that with Commonwealth.”
Per their website, Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency.
“The health and longevity of our organization are paramount,” added Harrison. “Healthy organizations grow both organically and by attracting new people, especially young talent. We’re looking forward to even greater success as we implement our new business plan with the help of Commonwealth.”
Diamond Consultants is pleased to have represented Alex, Mike, and the team at Aegis Consulting and look forward to hearing more about their success in the future.
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