On October 7, 2021, LifeStage Wealth Management Merged Their RIA and SEC Registration with Avior Wealth Management, Creating Added Security for Their Clients, While Expanding Avior's Reach to a New Market
Every Small Business Owner's Dilemma
OMAHA, Neb., Jan. 27, 2022 /PRNewswire/ -- LifeStage Wealth is a financial planning firm founded in 1988 by Bruce Kuehl in a suburb of Minneapolis, MN, known as Minnetonka. LifeStage's mission is to partner with its clients to help them achieve their financial goals. The firm has impacted the lives of hundreds of families in their surrounding communities over the past 34 years.
But what would happen to those families' financial plans if something catastrophic were to happen to Kuehl?
Beyond clients, what would his team and family be left to sort out?
These are the sorts of questions that every small business owner faces if they've been able to build a successful company.
LifeStage used to have a business continuity plan that was anchored around Kuehl's business partner. When the relationship with Kuehl's former partner ended five years ago, Kuehl knew LifeStage needed a new plan.
According to Kuehl, "It has been a two-year quest to find the right firm that LifeStage could strategically align with to create this plan."
Ironically, their quest ended with a firm named after the navigational star, Avior. A mutual connection at Schwab pointed them toward Avior Wealth.
Interested in partnering with Avior? Reach out here.
How This Benefits Clients
Kuehl and his fellow advisor, Nate Hahm, hosted a client conference call on October 19th. At the end of the call, Bruce shared how this partnership directly benefits clients.
1. Expanded support for LifeStage Wealth staff and advisors which translates to more time doing what they do best – thinking about their clients
Avior has specialized teams that focus on investment management, trading, and financial planning. This allows those members to focus their time on becoming subject-matter experts. LifeStage's team now has access to this additional knowledge and expertise. So, many of the tasks that were performed solely by an advisor functioning as a sole proprietor are now shared.
Avior also partners with an external IT firm for providing managed IT services and a helpdesk. And Avior's Operations Department provides additional support. This means that LifeStage employees are no longer solving problems on their own.
Lastly, LifeStage has recognized that by partnering with a larger firm, Schwab's service team members are providing better service. This translates to faster response times when working to resolve client's issues.
2. Most importantly, the partnership provides peace of mind
Should something adverse occur to Kuehl, clients can rest-assured that business will continue as normal. Avior is available to provide support, as needed. This means that a client isn't left scrambling to find a new advisor because their current advisor cared so much, he dedicated 2 years of his life to finding the best firm for them.
After Kuehl finished reviewing these benefits, he invited clients to ask any lingering questions.
One bravely asked, "All of our accounts are in the Schwab business already. I know you said that you wanted to go with a smaller firm, but why go to a third-party? Why wouldn't we just go with Schwab?"
These questions allowed Kuehl to punctuate the most important difference between a broker-dealer like Charles Schwab and a Registered Investment Advisor (RIA) like Avior Wealth. Avior is a fiduciary which means, unlike broker-dealers, they are legally bound to make recommendations based on what is in the best interest of the client, not the firm's revenue goals.
How This Benefits Avior
Avior believes they've developed a firm model that allows them to provide their services in a deeply personalized and meaningful way. Their vision includes sharing their model to improve the lives of people all over the US. Through LifeStage, they can realize their vision by expanding their mission and model to the people of Minnesota.
In addition, as the firm continues to grow, its overall value increases which means more capital for investments and greater earnings for its owners. And if that wasn't enough, the continued growth makes Avior a magnet for top talent by signaling that they are a trusted partner.
Avior and LifeStage look forward to a long and mutually beneficial partnership. As evidenced above, it paves a way for them to expand into new markets, work collaboratively, and leverage one another's resources, while remaining independent and focused on strengthening each business.
This isn't just a win for Avior and LifeStage. It's a win for their clients.
About Avior Wealth Management, LLC:
Avior Wealth Management, LLC, formerly Nelson, Van Denburg & Campbell Wealth Management Group, LLC, is a SEC Registered Investment Advisor that offers financial planning and investment management services to retail and institutional clients across the United States. Avior Wealth Management, LLC and its predecessor was formed in 2008 to offer clients a holistic approach to their investments, financial planning and wealth management. With office currently located in five states, we offer clients a team approach to their financial needs. Please note, investments are not guaranteed and subject to risk, including loss of principal invested.
Audrey M. Keel, Marketing Manager
AVIOR WEALTH MANAGEMENTTM
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SOURCE Avior Wealth Management