Many financial institutions offer services, especially aggregators, to help financial advisors set up an advisory firm, or offer them software on a platform to help work with clients and members. A new Software-as-a-Service-based membership organization for independent advisors launched last week takes that model further.
Chalice Financial Network, which will focus on RIAs with $50 million to $250 million in assets under management, will offer services on an unbundled basis for a $250 monthly fee (minimum one-year membership). No RIA or broker-dealer affiliation is required.
And at least for CFN, membership has its privileges, as it includes helping advisors not only run their advisory business, but provides tools for them be better business managers, says Keith Gregg, co-founder, chairman and CEO of the organization.
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Ginger Szala
Ginger Szala is executive managing editor of Investment Advisor magazine. She covered the financial business and alternatives industry for 30 years while editor of Futures Magazine Group. MSJ Northwestern, BA University of Wisconsin-Madison. She is based in Chicago. Go Blackhawks!
