We need them to abandon the machine work that has become such a distraction. Oftentimes, smart advisors use less than superior tools to do their darndest to serve their clients and in the meantime have lost human connection. It is time to alter our expectations of financial advisors. We primarily need to expect them to act in human, not machine ways, and in doing so more than earn their fee. What are the human things great advisors do?
Private equity-backed hybrid RIA Trilogy Financial Services has acquired a $1bn shop with a niche serving pilots and aviation professionals.
Trilogy said Thursday it has snapped up Mountain Capital Investment Advisors, located in Westminster in Colorado’s Denver-Boulder corridor. The terms of the transaction, which marks Irvine, Calif.-based Trilogy’s largest acquisition of the year, were not disclosed.
Mountain Capital is led by chief executive Brandt Burns and vice president Michelle Burns, a husband-and-wife duo who co-founded the firm in 2011 alongside founder emeritus Robert Loesch. Brandt Burns is a US Marine Corps veteran who previously worked as an advisor with Morgan Stanley Smith Barney for more than a decade. Before that, he was a commercial pilot at the now-defunct regional airline Atlantic Coast Airlines (later known as Independence Air). Michelle Burns worked for United Airlines for 14 years.
The firm provides financial planning to individual, family and small business clients with a focus on people involved in the aviation industry. It also offers tax preparation services and consulting services for pilots and airline professionals.
Brandt Burns stated that the deal allows Mountain Capital to retain its brand, leadership team, advisors and staff. The company will become Trilogy’s eleventh office and second location in Colorado.
Read the full article here.
...Independent advisors need to lead the recruiting and training of a new generation of wealth managers, according Jeff Motske, president and CEO of Trilogy Financial, $3 billion hybrid RIA based in Huntington Beach, Ca.
“The public wants independent advisors and the industry is moving in that direction,” he said. “Clients are already asking older advisors about who is going to advise them when the advisor retires. Older clients want someone who can see their family through the estate transition process. A younger planner gives clients confidence that someone will be there to help them through their entire life and afterward.”
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