What are the benefits of independence for my family and me?
Icon Wealth Partners is an independent Registered Investment Advisory (RIA) firm. Unlike some other types of Wall Street institutions, RIA firms are fiduciaries and, therefore, required to always act in the best interest of their clients. While we have always held ourselves to this higher standard, we have created a firm that is aligned with it, focused on client goals and objectives. Our move to independence speaks to the genuine objectivity of our advice and direct access to a wide array of offerings from our extensive network of leading financial services providers. We can now enhance our clients’ experience and continue to build lasting relationships while focusing on their long-term goals.
How will independence impact my relationship with you?
You can be confident that we will continue to provide the outstanding service and attention you’ve come to expect in working with us over the years. Our commitment to the core principles that define our practice — and to a culture of integrity, family values and enduring relationships — is a hallmark of our new firm.
Our move to independence removes many of the conflicts of interest that are often a part of the traditional Wall Street model. It speaks to the genuine objectivity of our advice and direct access to a wide array of offerings from our extensive network of leading financial services providers. We do not accept undisclosed economic benefits from any outside resource provider, so you can be assured that our advice to you is based solely on your best interests.
How will independence affect your approach to portfolio management?
The core principles of our portfolio management approach — diversification, downside protection, risk-adjusted performance, tax efficiency — remain the same. Our belief is that you benefit from a detailed process that results in a wealth management strategy addressing all aspects of your financial position. We then leverage and customize those strategies and solutions to provide our clients a focused, boutique-level experience.
As an independent firm, we can employ a wide range of portfolio management resources available, from third-party global research to institutional asset managers to state-of-the-art consolidated reporting. Our integrated approach encompasses investments, lending, insurance, trust and estate guidance, charitable giving and more — all coordinated to help you completely understand your wealth today so you can fully realize your vision for tomorrow.
Where will my assets be held?
As a Registered Investment Advisor, Icon Wealth Partners does not hold your assets. We have selected Fidelity, one of the world’s largest custodians of financial assets and a leading provider of custodial services in the RIA space, as our primary custodian on behalf of our clients.
Fidelity Custody and Clearing Solutions is one of the leading providers of trading, custody and brokerage services, custodianship, cost-effective pricing and, most important, outstanding service. Fidelity is a family-managed, privately-held company with more than 60 years of experience serving more than 23 million individuals and institutions, as well as more than 10,000 financial intermediary firms. As of December 31, 2016, it had assets under administration of $5.7 trillion, including managed assets of $2.1 trillion.
Will there be regulatory oversight of my assets?
Absolutely. As an SEC Registered Investment Advisor, we are subject to SEC rules mandating matters such as disclosures of conflicts, recordkeeping and business conduct. We are also subject to its oversight and inspection program. As a fiduciary, we are held to the highest standards of trust and confidence, meaning we are legally required to follow prudent investor practices and seek solutions that are in the best interests of all our clients.
Who is Dynasty Financial Partners?
We are independent, but not alone. Icon Wealth Partners has partnered with one of the industry’s most respected wealth management support platforms, Dynasty Financial Partners. Through our strategic partnership with Dynasty, we have access to some of the leading wealth management solutions and services available in the industry. Dynasty is a premier provider of wealth management and technology platforms for RIA firms. Dynasty was founded by a group of experienced wealth management professionals who deeply believed in the value of true independence. The Dynasty team comprises senior executives from the wealth management industry and its board members include: Harvey Golub, former chairman of American Express; Bill Donaldson, former chairman of the SEC; and Todd Thomson, former CFO of Citigroup.
Through Dynasty, Icon Wealth Partners’ clients benefit from the scale of more than 40 firms that are currently part of the Dynasty network. Advisors within the Dynasty network manage more than $20 billion in client assets, providing Icon Wealth Partners great leverage and insight into what the leading firms in the industry are doing.