Page 19 - Investment Advisor February/March 2023

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Sydney Niewierski You truly get to make those decisions yourself, which
Managing Partner, is wonderful because you are in charge of your own
Keybridge Wealth Management destiny.

A Paradigm Shift practice opened in 2020, she notes that gain- business, Lumpkins’ practice is dedicated
ing greater control over the client experience to helping close the wealth gap in commu-
The move to independence turns a lot of was one of the main motivators. nities of color.
what the employee channel offers on its
head. Overnight, the advisor changes from “We wanted to do the things we wanted the Driving Greater Flexibility
employee to entrepreneur as their realm of way we wanted to do them,” Daniels says.
responsibility grows to include all aspects As part of the transition, Daniels’ team chose and Creativity
of running a business. their building, designed the layout of their With financial products becoming more
office space, and selected furniture that fit commoditized, running an independent
Sydney Niewierski, Managing Partner of their brand’s personality.
Keybridge Wealth Management in practice can give advisors an edge in terms
Clearwater, Fla., has been advising clients “Now that we own our business, we get to of allowing them to differentiate in ways that
for 21 years, the last four as part of an decide what our clients experience from the resonate with their target audience.
independent practice. For Niewierski, one of second they get here. I love that we have the Michael Cowan began his financial adviso-
the most challenging aspects of moving to freedom to do that,” she says. ry career in 1999 with a large national firm,
an independent model was balancing client Matthew DePalma, a Managing Partner leaving 10 years later to found Gardens
needs with running day-to-day operations. with Capstan Financial Consulting Group in Wealth Management in Palm Beach

“You’re making decisions around HR and Sarasota, Fla., has been advising clients for 25 Gardens, Fla. One of Cowan’s reasons for
payroll, negotiating leases, buying furniture, and years, the last 12 as part of becoming independent was his desire to
dealing with technology problems,” Niewierski an independent contractor
says, adding, “But you truly get to make those model. As with Daniels’
decisions yourself, which is wonderful because experience, DePalma says
you are in charge of your own destiny.” a benefit of independence Allison Daniels
is the greater ability to
Before founding Lumpkins Private Wealth connect with clients and Partner, Marcus,
Management in St. Joseph, Mich., Dathan provide a more custom- Inman & Daniels Wealth
Lumpkins worked within an employee ized interaction with his Advisors
channel for 19 years. As with most advi- business.
sors who make the leap, the hard part for
Lumpkins was juggling the responsibilities “At the end of the day, We get to decide what our clients experience from
of an advisor and business owner. when a client meets with the second they get here. I love that we have the
us, we want to make
“It was a monumental shift. I quickly sure they’re getting an freedom to do that.
realized that being an advisor was the easy experience that reflects
part,” Lumpkins says. what’s important to them,”
Controlling the Client Experience DePalma says. better align his marketing efforts with a
For DePalma, becoming independent has rapidly changing marketplace.
One of the greatest draws to independence is made it easier to craft solutions and ser-
the ability to shape the client experience. For vices that more closely match his clients’ Following the transition, Cowan launched
Niewierski, the weight of that responsibility needs. “Each step of the way—whether it’s an aggressive marketing campaign, sending
was alarming when she started her practice. choosing the technology, the staffing, the 150,000 mailers to his local community and
hosting 35 events over four months. Recog-
“One of the more nerve-wracking moments location, or the office space—everything nizing the growing importance of connect-
when we transitioned was when somebody is about having the flexibility to customize ing with clients and prospects digitally, he
told us: ‘You can do whatever you want – your client’s experience,” he says. had a production company shoot a series of
it’s your business.’ That made us nervous As employees of traditional in-house firms, in-office videos about his practice. The abili-
for about 35 seconds, and then it made us Lumpkins and his colleagues served every- ty to market using video has been important
giddy about the possibilities,” she says. one who walked into their branch. Today, to Cowan’s business, which serves clients
After 16 years of working in traditional in- independence gives Lumpkins the ability from around the country.
house firms, Allison Daniels and a group of to determine which market segments he Niewierski points to the flexibility the indepen-
colleagues founded Marcus, Inman & Daniels wants to pursue and how to differentiate dent channel offers when picking a business
Wealth Advisors in Albany, Ga. When the his brand. As a certified minority-owned model. When she made the transition, she was

2 Independence: The View from the Other Side

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