Company Details
Cerity has been a national firm in the industry since its inception in 2009 and has established itself as a premier, client-first firm. The Cerity name reflects their steadfast commitment to enhancing the financial well-being of individuals and their families, businesses and their employees, and nonprofit organizations through objective advice and oversight. As part of this commitment, Cerity has brought together a team of experts – financial planners, investment professionals, tax advisors, retirement plan consultants, and attorneys, who are dedicated to helping clients achieve their short- and long-term goals.
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Acquisition Model
Max Cash: 75%
Max Equity: 50%
Cerity's standard retention period is 12 months.
Mandatory Points of Alignment
In order to offload as much operational burden as possible, Cerity will centralize all back-office functions. This includes technology, billing, payroll, HR, compliance, marketing, and more.
Partners will have total autonomy over their calendars.
Partners will have visibility into their local P&L.
"The Cerity Partners Way," is a guiding framework for advisors to utilize and make unique when speaking with new and existing clients.
Cerity sees practice management as a strength and asks all partners to participate in their processes.
Cerity aims to centralize investment management over time, carefully constructing a bridge to ensure that existing client positions remain undisturbed during the transition.
Advisor Value Proposition
Cerity Partners stands out due to several unique aspects. First and foremost, their commitment lies in training young staff members, a dedication exemplified through their impressive G2 program. What sets Cerity apart is their innovative approach of allowing G2 members to take equity in the company. Each year, Cerity evaluates the firm and rewards those who have had a significant role in growing the firm the previous year by granting them equity. Lastly, Cerity Partners demonstrates their genuine commitment to growth and partnership by encouraging partners to hold a significant amount of their transaction proceeds in equity, reflecting their deep appreciation for collaboration and their steadfast growth mindset.
Partners can leverage Cerity's planning team for assistance.
Cerity provides support through centralizing technology, compliance, HR, marketing, payroll, billing, and more.
New partners and colleagues are drawn to the organization due to its comprehensive range of services spanning the entire wealth management spectrum, including investment advisory, tax planning and preparation, trust and estate planning, business owner advisory, cross-border planning, workplace solutions, retirement planning, and more. In 2022, Cerity partners completed ~10,000 tax returns on behalf of their clients.
Cerity Partners wants to drive organic growth on behalf of its advisors. They participate in the Schwab Advisor Network (SAN) and Fidelity Wealth Advisor Solutions (WAS) programs, generating approximately 130-140 leads per month for their advisors. If an advisor decides to participate in SAN or WAS, they will go through training on how to operate within those programs. Additionally, they will receive support through the sales team, led by Steve Williams. This team consists of 6 Business Development Officers (BDOs) spread across different territories nationwide. The BDOs are instrumental in establishing strong relationships with advisors and play a crucial role in driving the sales process. The process involves central sales support, with BDOs placing clients with advisors based on their knowledge of the advisors' expertise and the clients needs and preferences. The sales team manages the onboarding process until the advisory agreement is signed, at which point responsibility shifts to the advisor. In their marketing strategies, Cerity Partners offers two distinct paths: Corporate Marketing and Partner Marketing. Under Corporate Marketing, the focus is on building a robust national brand through digital channels, encompassing digital and paid marketing efforts, a content-rich website, and an active social media presence. They emphasize creating brand awareness at the local level, which fosters a strong national presence. On the other hand, Partner Marketing involves integrating local brands into the national framework. This approach centralizes the marketing efforts through a unified website, redirecting old sites to the new platform. The central flow of content includes webinars, client newsletters that advisors can opt into, and encouraging advisors to contribute content for approval and publication. A comprehensive library of collateral is available for advisors to utilize. The central marketing team provides support to advisors, understanding their local goals and assisting in their accomplishment. Accessibility and constant evaluation of the technology stack are key principles, so that all created resources are readily available to anyone within the firm.
Cerity assists partners in identifying and executing strategic growth initiatives, while also aiding in the definition and management of local offices toward specific KPIs. Additionally, they conduct monthly calls with the entire firm to discuss various aspects of practice management, client solutions, and updates such as tax law changes, often featuring subject matter experts. Around 30-40% of the firm actively participates in these informative sessions. They also organize other forums within the firm to promote training on diverse topics.
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