Company Details
Verdence is a private wealth advisory and multi-family office firm headquartered in Hunt Valley, Maryland, with offices in Northern Virginia and Naples, Florida. Verdence is committed to its role as Fiduciary Advisors — guided by the principle that advice should be transparent, customized, and given without bias. Through thoughtful, strategic financial planning and education, Verdence strives to provide financial guidance that helps clients and their families understand, plan for, and reach their financial goals.
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Acquisition Model
Max Cash: 100%
Max Equity: 0%
Verdence's standard terms are ~30-50% held in retention for 12-18 months.
Mandatory Points of Alignment
To scale the business effectively, Verdence asks all partners to adopt their technology and systems.
Partners will have full autonomy over their calendars.
Partners will have visibility into their local P&L.
Advisors are encouraged, but not required, to utilize Verdence's client experience.
Advisors are encouraged to utilize the Verdence practice management resources.
Verdence encourages advisors to utilize models traded and managed by the investment team, but also allows advisors to follow their own strategies provided they handle the trading themselves.
Advisor Value Proposition
Verdence stands out due to its distinctive approach in The Partner Path program, where advisors can acquire equity in Verdence after accumulating over one million dollars in earnings. Verdence wants equity in the hands of people who drive growth for the firm. Additionally, their investment platform, with a focus on the feeder company Independent Access Partners, adds another layer of uniqueness. Verdence further stands apart through its progressive career pathing tailored for aspiring G2 advisors.
Verdence offers a dedicated planning department to alleviate advisors' workload. Within this department, planners are equipped to handle tasks ranging from basic data entry to presenting comprehensive plans to clients, both initially and throughout the relationship. The extent to which advisors utilize these planning services is entirely at their discretion, allowing for flexibility and customization according to individual preferences.
Efficiency is Verdence's starting point. Verdence's platform is strategically structured with specialized experts in every area. This setup empowers advisors to collaborate with top professionals on the team, leading to substantial outcomes. From a comprehensive investment platform and robust financial planning resources to dedicated Verdence/family support, sophisticated performance reporting, streamlined trading processes, and a comprehensive technology stack, every aspect of Verdence is tailored to lighten the workload for advisors. This enables advisors to concentrate solely on relationship building and development, leading to growth.
In addition to traditional investment management and financial planning, Verdence offers family office, exit planning, succession planning, and a unique arm dedicated to professional athletes, VerdencePro.
Verdence relies on referrals as its main organic growth channel. The company actively supports advisors through the production of white papers and weekly market commentary. Additionally, Verdence hosts a podcast, Markets with Megan, three times a week, each episode lasting 90-120 seconds. Furthermore, Verdence provides assistance in planning client events and encourages advisors to establish their own podcasts, making use of the dedicated podcasting room available at the HQ office.
With a singular focus on the firm, Leo Kelly (CEO) and Tom New (President) play a key role in supporting partners with practice management. Verdence offers support by aiding partners in defining staff roles and responsibilities for their local office, conducting employee reviews and performance management, as well as assisting in the identification and implementation of strategic growth initiatives.
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