New York, Fee-Only Wealth Management Firm Named to Elite List of Fiduciary Investment Advisors
NEW YORK, October 17, 2019 (Newswire.com) - Heron Wealth, an SEC Registered Investment Advisor based in New York City, was named to Citywire’s 2019 inaugural list of RIA Future 50. At a special gathering in Austin earlier this month, Citywire recognized fifty firms that best represent its vision of the future of the industry.
According to their website, “The RIA Future 50 firms represent a group of finance professionals who are collectively creating this new investment landscape. They have their own unique story to tell, are driven to succeed on their own terms and, most importantly, are in charge of their own investment decisions.”
Our industry, wealth management, is undergoing an unprecedented time of transition. Clients demand ever more services, delivered according to their schedules, not ours, and want to be secure in knowing that they are receiving the best possible advice at all times. We are thrilled to be recognized among the firms that are taking charge in this new reality.
Citywire measured Heron’s independence, how they manage their own investment practice; what percentage of their income is fee-based; how inclusive, diverse and sustainably-minded they are (including sustainability programs and diversity initiatives; processes in place for attracting and maintaining talent; succession planning; staff credentials); how much they have grown as a business in recent years; firm service offerings and capabilities; client education and charitable work.
“Our industry, wealth management, is undergoing an unprecedented time of transition,” said David Edwards, president and founder, Heron Wealth. “Clients demand ever more services, delivered according to their schedules, not ours, and want to be secure in knowing that they are receiving the best possible advice at all times. We are thrilled to be recognized among the firms that are taking charge in this new reality.”
OBJECTIVE AND METHODOLOGY OF AWARD
· The objective of the RIA Future 50 award is to highlight the leaders of a competitive and growing industry.
· Unlike other industry awards, the award didn’t target the biggest firms by assets or profit growth in recent years.
· Registered Investment Advisors (RIAs) were invited to fill out a survey asking about their firms’ growth trajectory, degree of independence, what percentage of their income is fee-based, as well as how inclusive, diverse and sustainably-minded they are.
· For firms to qualify, they must be registered by the Securities and Exchange Commission as an RIA with between $250 million and $2 billion in assets under management at the end of 2018.
“Key to our growth has been adopting our business model to serve rising professionals that might be high in income but light in assets. We still have a $1 million minimum for our traditional clients, executive families 50 and older. However, our investment in technology enables us to profitably serve younger clients in their 30’s and 40’s, advise them on how to get to that $1 million goal and beyond,” said Edwards.
BUILDING FOR THE FUTURE
According to the Citywire website, “Overall, the Future 50 offer a glimpse of what the advisory space will look like in the years to come. The days of wood-paneled offices with solemn, fatherly financial planners behind the desk are no more. Instead, the next generation of advisors are more reflective of the wider world and all of the varying life experiences that come with it. Rather than PowerPoints and quarterly reports, next-gen advisors speak frankly, post YouTube videos and respond to text messages.”
These firms will be more diverse, more sustainable and more forward-thinking than advisors typically have been. “Future 50 RIAs are rethinking what the advisor-client relationship should like and promoting company cultures that reflect the diversity of life experience that their clients have.”
ABOUT DAVID EDWARDS AND HERON WEALTH
David Edwards is president and founder of Heron Wealth, which provides financial planning, investment advice and estate planning to individuals and families across the United States and overseas in Europe and South America. Click here to watch Heron’s video The Basics of Investing for Retirement.
Edwards is a member of the Investment Adviser Association, serving on the Legislation and Technology committees. Edwards has served on the eMoney Advisory Board since March 2016. Serving on the Advisory Board allows Edwards to contribute to the ongoing success and development of eMoney's financial planning and digital wealth management technology, while keeping him in the loop on future developments and innovations within the financial services industry.
Prior to founding Heron Wealth, Edwards was associated with Morgan Stanley, JP Morgan and Nomura Securities where he developed investment products and quantitative trading models. For fun, Edwards competes frequently in sailing regattas from New England to the Caribbean, and coaches a home town team in New York Harbor. Learn more at www.HeronWealth.com.
Citywire provides impartial financial and business news, data and research for professional investors and advisers around the world. CityWire publishes news, analysis and unique fund manager performance information that helps their readers make the best decisions about where to place their clients’ money. More info here: www.citywireusa.com To learn more about Citywire’s journalistic coverage for RIAs, visit: https://citywireusa.com/registered-investment-advisor
Source: Heron Wealth