In 2008, Capital Investment Advisors found a need to service groups of financial advisors who need assistance with managing ETF portfolios for niche groups of clients. The feature article, Dual Focus in Financial Advisor, outlines how advisors from CIA are now meeting the needs of other advisors, transitioning middle-market clients so those advisors can focus on their more profitable, high-net-worth clients.
According to Mitch Reiner, “We’re able to do this because we’re already making strategic decisions for CIA and we don’t have to recreate the wheel, and the decisions made at CIA are spread across a small scalable model with Wela,” says Mitchell Reiner, Wela’s managing partner and CIA’s chief operating officer. “The business model works because we have a unique flow of these types of clients coming into our office, or who are already at CIA and we can turn them over to Wela.”
Wela Strategies targets investors with assets up to $500,000 (although some have assets up to $1 million) and provides ETF-based portfolios based on a client’s risk tolerance, time horizon and return expectations. Wela keeps its costs down by leveraging CIA’s existing operational infrastructure and human capital (several CIA employees do double duty at both firms).
Please follow the link to read more: http://www.fa-mag.com/news/dual-focus-13449.html