March 15, 2022

How Technology Impacts Independent Advisory Services with Mark Albers


In today’s episode, Craig talks with Mark Albers, President and CEO of Kinetic Strategic Partners, an independent advisory firm that provides objective, data-driven advice which allows financial advisors to make decisions and take care of clients on their terms.

Mark began his financial services career in 1994 and has served as a financial advisor, producing branch manager, complex director, and regional sales manager for both Merrill Lynch and Morgan Stanley. His diverse experience led him to found Kinetic Strategic Partners in 2012 to advise large, experienced wirehouse teams who serve complex clients.

Mark talks with Craig about what sets him apart from other independent consultants, how wirehouse advisors can do more in the independent space, and what key factors one must consider when selecting an advisory firm.


Key Takeaways

  • [02:34] - What motivated Mark to establish Kinetic Strategic Partners.
  • [06:23] - What sets Mark apart from other independent consultants.
  • [10:16] - Mark's perspective on wirehouse advisors becoming independent.
  • [14:05] - How Kinetic Strategic Partners qualifies potential clients.
  • [20:32] - Mark’s thoughts on monetizing businesses through succession.
  • [24:04] - Some key elements to consider when choosing an advisory firm.
  • [28:24] - What prevents wirehouse advisors from becoming independent.
  • [30:11] - Four of the most challenging wirehouse experiences.
  • [33:20] - One of the key aspects to consider when working with advisors.
  • [36:21] - What influenced Mark to pursue a career in the advisory field.


Quotes

[11:39] - "One of the hard things for our clients who are all wirehouse advisors to initially accept is that they've been told their whole career that this is the only place where you have access to X. And in some cases, they can do more in the independent space, there are better products or a broader array." - Mark Albers

[26:06] - "There's no perfect firm and there's no perfect partner. But if you know all the information going in and make an informed decision, you're in a better position." - Mark Albers


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