Another great article on why the independent model will be the ultimate destination for advisors considering a move. Read the full story here
Icon Wealth Partners: Setting the Standard
A New Benchmark of Elevated Service
Welcome to Icon Wealth Partners, an independent, privately-held wealth advisory firm providing comprehensive wealth management and financial advice to a select group of business owners and executives, high-net-worth families and entrepreneurs throughout the country.
Driven by our core values and entrepreneurial spirit, Icon Wealth Partners offers clients an elevated standard of service marked by integrity, independence and insight.
At Icon Wealth Partners, our mission is clear: to address the long-term goals of our clients and their families with customized financial strategies, investment and liquidity solutions delivered with the utmost integrity, transparency and commitment to the fiduciary standard.
Headquartered in Houston, Texas, Icon Wealth Partners leverages the diverse talents of our three Founding Partners who, together, have more than 60 years of wealth management experience. Prior to forming Icon Wealth Partners, our Founders were entrusted with $750 million in client assets at their previous Wall Street firms.
Our Investment Committee includes our three Founding Partners as well as senior level investment professionals with varied financial experience. Their knowledge and perspective combine to serve as an additional layer of expertise, insight and objectivity in support of our ongoing fiduciary commitment.
As we represent our clients’ best interests first and always, the Committee is an impeccable resource that contributes a range of perspectives to the evaluation of economic and market data, the analysis of fundamentals and ideas, and the formulation of sound investment strategy decisions. The Committee applies a rigorous and disciplined process to ensure that client portfolios are grounded in a combination of global research and expertise along with our own individual experience.
A New Benchmark of Elevated Service
After spending many successful decades in the financial services industry, Icon Wealth Partners’ three Founding Partners realized the time was right for change. They saw an opportunity to create a new and industry-leading firm, one unbridled by corporate mandates and limitations. Founding Partners Mark McAdams, Blake Pratz and Steve Schwarzbach saw the potential to create a new business they could shape and drive with experience and entrepreneurial vision.
The result is Icon Wealth Partners, a new firm characterized by independence, integrity and insight. Fully embracing the fiduciary standard, Icon Wealth Partners offers a new model that melds deep commitment to client relationships with superior resources, sophisticated wealth advisory services and investment acumen. Driven by our clients’ best interests at all times, Icon Wealth Partners delivers customized, highly tailored and experience-based service to our valued clients.
Independence and full ownership equip us to operate exclusively on behalf of our clients. Free from corporate constraints, we offer unrestricted access to outstanding opportunities, institutional research and intellectual capital on a global basis — and thus, serve more effectively as our clients’ advocate and trusted advisor.
As an independent firm, we avoid conflicts of interest inherent in the traditional Wall Street model. Because we do not accept any undisclosed economic benefits from outside resource providers, clients are assured of consistently objective advice. Independence also facilitates transparency, particularly with respect to fees, and reduces limitations in areas such as performance reporting, custody, alternative investments, trust services and lending.
At Icon Wealth Partners, we separate advice, custody and investment selection to ensure client-focused operations based on the fiduciary standard. As owners of an independent firm − and entrepreneurs − we are dedicated to elevating our clients’ experience to forge lasting relationships focused on achieving their long-term goals.
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.
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.
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.
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.
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.
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.
Our clients’ goals are unique, specific and often, complex — which is why, at Icon Wealth Partners, we perform a thorough assessment of each client’s financial picture. Only in this way can we build a comprehensive plan that reflects clients’ goals and addresses their precise needs. In fulfilling plan objectives, we deliver the elevated boutique experience our clients expect and decidedly deserve. Because we view wealth management as a collaborative process, we create an environment characterized by proactive and consistent communications as we explore with our clients the various components of their plans.
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Our first meeting with each client sets the stage for the relationship and is the most critical part of our process. Our advice and recommendations are based on our ability to understand the client’s circumstances and future needs. To this end, we:
The most effective investment strategies are predicated on solid wealth planning. At Icon Wealth Partners, we take a comprehensive approach as we facilitate tax-effective and meaningful wealth transference and philanthropy. As part of this approach, we:
We customize our asset allocation and investment strategy to reflect an overall plan while considering tax efficiency, time horizon, as well as unique risk proclivities and investment goals. Portfolio construction involves:
Our clients are assured state-of-the-art reporting technology to assess performance against financial objectives. We encourage ongoing dialogue to determine how well each portfolio meets current and evolving goals.
We conduct a regular review of each client’s portfolio and take actions when required to ensure continual alignment with strategic goals and market conditions:
Independent but not alone, we have partnered with some of the industry’s most respected wealth management support providers to ensure comprehensive wealth management. Separating advice, custody and investment vehicle selection assures client-focused operations that uphold the fiduciary standard.
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Dynasty Financial Partners delivers one of the industry’s most respected wealth management and technology support platforms to independent Registered Investment Advisors. Dynasty’s comprehensive open-architecture platform comprises the finest wealth management solutions to help independent advisors protect and grow their clients’ wealth with absolute objectivity.
Dynasty’s senior executives represent the wealth management industry’s premier organizations. Board members include former American Express Chairman Harvey Golub, former SEC Chairman Bill Donaldson and former Citigroup CFO Todd Thomson.
Through Dynasty, Icon Wealth Partners’ clients benefit from the other firms that are currently part of the Dynasty network. Advisors within the Dynasty network provide insight into what top industry firms are doing and leverage to benefit from these leaders’ best practices.
Fidelity Institutional Wealth Services is a leading provider of trading, custody and brokerage services to Registered Investment Advisors, trust institutions and third-party administrators. Fidelity is a family-managed, privately held company with more than 60 years of experience and has assets under administration of $5.7 trillion, including managed assets of $2.1 trillion as of December 31, 2016. We are able to leverage the capital, resources and expertise of the Fidelity organization, one of the world’s largest financial services companies, on behalf of our clients.
Callan was founded as an employee-owned investment consulting firm in 1973. Ever since, the firm has empowered institutional clients with creative, customized investment solutions that are uniquely backed by proprietary research, exclusive data, ongoing education and decision support. Today, Callan advises on $2 trillion in total assets, which makes it among the largest independently-owned investment consulting firms in the U.S. Callan brings to Icon Wealth Partners a client-focused consulting model with an impressive track record serving public and private pension plan sponsors, endowments, foundations, operating funds, smaller investment consulting firms, investment managers and financial intermediaries.
Black Diamond® delivers an award-winning, cloud-based portfolio management platform that allows us to assure our clients secure anytime, anywhere online access to their total wealth picture. So that we can focus on what we do best — fulfilling client objectives with outstanding service and total transparency — we use Black Diamond’s innovative aggregation, customizable reporting and rebalancing services combined with fully outsourced daily reconciliation and data management technology. Ours is one of the 650 advisory firms that have selected Black Diamond to help manage more than $300 billion in assets. Black Diamond is an independent business group of Advent Software, a leading technology provider to investment managers around the world.
iCapital Network provides a financial technology platform that connects high-net-worth investment capital with private investment opportunities. The firm’s comprehensive investment platform provides qualified investors, advisors and family offices with powerful research tools, comprehensive diligence support and access to a curated selection of private equity funds and hedge funds. The platform also streamlines and automates administrative and reporting requirements such as fund commitments, capital calls, distributions, tax reporting and fund statements.
Atrato Advisors is a boutique consulting firm that provides highly individualized research and advisory solutions to the hedge fund investor community. The partners have a combined 25+ years of hedge fund investment experience including leadership roles in research and risk management specifically in the hedge fund selection arena. The supporting team has a strong investment and operational background from family offices, fund of funds, and financial analytics firms. Atrato successfully marries highly investigative, qualitative due diligence with deep quantitative analysis and risk management to create optimal portfolio solutions.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. As of September 30, 2017, BlackRock’s AUM was $5.977 trillion. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. The BlackRock Model Portfolios team uses a proprietary risk management system called Aladdin to analyze individual securities in mutual funds and ETFs rather than just looking at the historical performance of the funds themselves. The firm has approximately 13,000 employees in more than 30 countries.
As a newly independent and privately-held firm, Icon Wealth Partners is primed for a successful future built on talent, a clear vision and a strong entrepreneurial spirit. We are eager to engage in conversation with seasoned advisors who are looking to grow their careers within the context of an independent platform and open architecture.
At Icon Wealth Partners, we understand the challenges faced by experienced advisors today. In fact, many of these challenges — particularly the limitations imposed by affiliation with large firms — propelled us to form our own wealth management firm. As we grow, we seek like-minded professionals who are driven by the best interests of their clients and who hold a deep commitment to objectivity and transparency in all they do. We look for advisors who share our core values and dedication to an elevated service standard marked by independence, integrity and insight.
Though Icon Wealth Partners is a new firm, our three founding partners have decades of experience in wealth management and investments. We have formed strategic partnerships with the best resources in the business, including cutting-edge technology firms, world-class research houses and top custodians to assure both clients and advisors of excellent support and service.
Our goal is to grow and expand our business in the years to come, through both recruiting and acquisitions. As you consider the growth of your own career, we invite you to think of Icon Wealth Partners and the many advantages of experience coupled with independence.
If you are interested in pursuing a conversation, please contact us.