Young SageView fiduciary chief tasked with standardizing practices across 23 offices
Is this the end of Wirehouse Recruiting bonuses that require major Wall Street firms to compete on the basis of who provides the biggest bonuses for advisors to bring their assets to another firm?
McWhinney doesn’t want any part of this.
Rather, than throwing money around like wirehouses and trying to manage outsized egos, McWhinney is saying why not use the industry’s most accomplished RIAs and compete on the basis of the depth and breadth of the counsel provided. These RIAs are at least as productive as top brokers and do not cost a penny. She avoids the risk of loosing RIAs to the top bidder as RIAs are more committed as they already own their own business, and offer a level of service not possible in brokerage formate.
McWhinney gets an A-Plus for visionary leadership. This is cheaper, easy to manage and more effective for the consumer. Why get caught up in the unecessary hassels?
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