AN IFP PARTNERSHIP
Affiliation Options For...
Solid Strategies for Changing Times
While many advisors are focused on retaining clients and gearing for a significant shift in our industry, IFP advisors are successfully serving their clients and in fact growing their practices.
By utilizing the support structure of Integrated Financial Partners, over 79% of our new advisors have increased their GDC after affiliating with us.*
Advisors that partner with IFP are able to utilize the independent model while at the same time leveraging the “road map” of success that has been refined over our 20+ years as an organization. Today, over 100 advisors nationwide are successfully partnering with IFP. A testament to our overall support and process in partnering with advisors is our industry leading 95% advisor retention rate.
Gain greater control, flexibility and independence for your practice.
*Based on new advisors that affiliated between 2008-2013.
Integrated Financial Partners provides financial advisors with an environment of highly talented and caring professionals with one goal – to help advisors significantly increase their income and improve their quality of life.
Our model seeks to increase advisors’ incomes by helping them partner with key centers of influence such as CPAs and attorneys. These partnerships allow you opportunities to be in front of higher net worth clients than you may not be accustomed to working with currently. Therefore, we place an emphasis on case design, case preparation, joint fieldwork and training. Helping you successfully approach clients that have complicated financial lives is an important step in growing your revenues.
Your staff is one of your most important assets. Training, study groups, webinars and just having someone to reach out to when needed is what we provide for your team. Having a well-trained, supported and motivated team around you will help to improve your quality of life and allow you to focus on revenue producing activities.
In an effort to support the growth of financial advisors, the Professional Partners Program (PPP) provides advisors access to more qualified client opportunities. The PPP is a systematic and comprehensive approach to co-sourcing with CPA firms, banks, credit unions, law firms, property and casualty agencies and other associations. Since its establishment in 1996, the PPP has grown to over 100 relationships across the country. These partners are licensed and motivated to get our advisors in front of highly qualified client opportunities.
Imagine if you could review the information on hundreds of tax returns to choose the high net worth clients that you feel most qualified to work with as their trusted advisor.
At IFP, advisors have access to our network of Professional Partners. This enables our advisors to affiliate with CPAs and other professional partners that align with their own business values and standards. Our partners are able to build meaningful, revenue sharing relationships while our advisors can grow their practices by gaining referrals based on their ideal client profile.
Over 35% of IFP’s total revenue comes from the PPP, which is a key reason why many of our new recruits increase their production in such a short period of time.
Through our Registered Investment Advisory firm, Integrated Wealth Concepts, advisors have greater flexibility in how they run their practices. Whether you want to be a fee only or hybrid advisor (fee and commission based business), IFP can support your practice.
IFP is affiliated with LPL Financial, the largest independent broker dealer in the country1. Our hybrid model enables you to run your practice on one consolidated platform and leave behind the complications of having two different platforms to run fee-based and commission business.
IFP’s Wealth Management resources include:
– Customized Model Management Strategies
– Discretionary Model Management capabilities
– Centrally Managed Platforms
– Flexible Performance Reporting
– Customized Fee and Billing Options
In-house Case Design– IFP financial planning specialists deliver customized solutions for HNW, business owners and complex clients. We assist with training, case design and case preparation as needed. We place a special emphasis on eMoney and our own proprietary wealth distribution system for retirees called The Lifetime Income ModelTM.
As you continue to work with increasingly more complex clients, our team of case design and case preparation specialists will be there to support you every step of the way. Your confidence to approach more complex clients is our goal.
The case design support team has expertise in the following areas:
– High Net Worth
– IFP Family Office™
– Exclusive services for higher net worth families
– Net worth between $5-$100 million
– Specialized team approach for net worth’s over $100 million
– Small and Large Businesses
– Succession planning
– Insurance strategies
– Corporate benefits
– Retirement plans
– Group benefits
– Business Owner personal financial planning
– The Business Owner Model™
– Employee workshops
Joint work specialists available around the country – We have tenured, talented and highly credentialed members of the case design team available via webinar or face-to-face client meetings.
Investment Modeling – We offer turnkey model management and rebalancing services. Low cost, tax sensitive strategies are managed across multiple time spans with a focus on cash flow, asset protection and long-term planning.
Fee Based Financial Planning – The financial services industry is currently seeing a marked shift toward advisory business. Many advisors are considering, or have already begun, transitioning some of their brokerage business to a fee-based model, when appropriate for the client. If you’ve thought about incorporating more fee-based business into your practice, there are some key steps you can take.
Moving to a fee-based book of business is a matter of following a few well-established steps. Each is relatively straightforward in its own right, but like any substantial undertaking, the process requires an investment of time and resources, as well as mindfulness around the process of change, and clear communication with your client.
1 As reported in Financial Planning Magazine, June 1996-2016, based on total revenue.
The InTouch Marketing Model is a comprehensive and automated system designed exclusively for financial professionals. Our goal is to eliminate the obstacles which often prevent the execution of most marketing plans so you can get your message out easily and effectively. In pursuit of your success, we’re equipped to elevate your exposure and help take your practice to the next level by utilizing a comprehensive approach to your marketing needs.
Partnering with InTouch enables you to maintain close communication with your current clients, prospects and COIs by keeping them up to date on market trends and your service offerings. Your only responsibility is to manage your database on our proprietary software (the ITMS) and consistently add new contacts. We’ll handle the rest. From writing and designing the marketing material to obtaining compliance approval and deploying the messages on your behalf, we take care of the grunt work so you can focus on your thriving practice.
Some of the InTouch service offerings include:
– Customized branding
– Weekly emails / quarterly newsletters
– Seminar and client appreciation invitations
– Custom birthday and holiday cards
– Social Media incorporation
– Dynamic email metric reports
– Concierge marketing
InTouch Innovations and LPL Financial are separate entities.
In many cases, advisors that are making the move to independence have little familiarity with all the nuances and resources of building an independent practice. At IFP, you get the infrastructure to build an independent practice with access to resources, support specialists and a road map so you’re truly never on your own. IFP advisors have access to:
Compliance – With our own internal compliance team and access to the team at LPL Financial, we are able to assist and guide partners through an ever-changing business landscape. This support is designed to save time and resources and maintain the highest ethical standards. IFP provides internal compliance which is advisor focused; advocating for the ease of running a compliant practice. Providing planners with a liaison to the Broker dealer as well as the RIA supporting seamless business processing.
Operational Support – IFP supports you running your practice like a business utilizing Strategic Coach techniques as well as leveraging technology to create efficiencies.
Turn-Key Office Model – With over 20 offices nationwide, IFP has a strong understanding of the dynamics of office space needs for an independent financial advisor. Our Turn-key Office Model is designed to support advisors in identifying office space and the associated logistical support needed to build it out for the most efficient work environment. Our support includes the negotiation of leasing options.
Practice Management and Education – Advisors and professional partners have access to industry management specialists as well as an extensive library of planning and business resources. We provide individual and team consultation with advisors and their advisory staff, supporting the growth and the development of their practices. Areas of focus include process development, marketing, DOL education, role definition specifically in determining staffing needs, while enhancing the proficiency of operational functions. Our differentiated value proposition lies in our ability to train advisors to become fee-based advisors and to work with HNW clients and the complex cases that come with this market.
Practice Enhancement and Business Monetization– Advisors tend to thrive in the “IFP community”. Group events include conferences and study groups nationally, regionally and locally. These forums are designed to provide advisors with techniques to optimize their practice and/or develop well-designed succession plans. IFP works with industry evaluation firms to provide comprehensive practice valuations.
Technology – Through analytical data we can recognize areas of improvement and success to harness technology as an ally in growing your practice. Our integrated, web-based technology platform allows advisors to manage critical aspects of their business while remaining highly efficient and responsive to their clients’ needs.
Time-consuming processes—such as account opening and management, document imaging, transaction execution, and account rebalancing—are automated to improve efficiency and accuracy. With LPL focused on technology, advisors are able to concentrate on what is most important: Meeting client investment objectives.
Succession Planning – Developing and implementing a well-designed succession plan is essential to the survival of a financial planning practice. Unfortunately, the vast majority neglect to plan ahead for their own succession. Advisors should begin preparation while they are still healthy and active in their business. A good succession plan needs to begin at least three to five years ahead of your exit point. In most cases, the more time allotted for planning, the better the outcome will be. Adequate planning enables an advisor to test potential successors and evaluate their maturity, commitment, client relationship management, business knowledge, employee management, and leadership skills.
DOL – In April 2016, the Department of Labor (DOL) released its final version of a rule that has come to be known as “the fiduciary rule.” It broadens the definition of fiduciary to include individuals and firms that provide advice to brokerage retirement accounts, and it’s piqued the interest of individuals throughout the financial services industry. Many who previously operated under a suitability standard when serving retirement accounts will now be held to the more stringent fiduciary, or best interest, standard.
We fully support the intent of the rule, which is putting your clients’ best interest front and center. As we work to operationalize the rule, some of its requirements remain open for interpretation, given the rule’s nuances and complexity. In many cases, rather than providing specific requirements for compliance, the rule is principles based, leaving substantial portions for firms to determine how to implement. We’re currently analyzing and discussing the rule internally, working through our own understanding of its contents, and joining the industry dialogue with the DOL, all in a concentrated effort to gain further clarity on the rule. Indeed, the full resources of the firm are invested in this effort.
Navigating the new regulations with a specific focus on the industry’s changes while solving the challenges within your practice. An independent planning firm implementing non-biased solutions for your clients.
No Surprises Transition – IFP’s transition team provides customized transition plans and matches the correct resources, consultants and onboarding plan to support a successful transition.
Our support team works with you for the entire transition, even post affiliation, to ensure a positive advisor and client experience.
LPL Financial and Lincoln Financial Group are separate entities.
CONTACT US TODAY
A Conversation Worth Having
For more information please contact:
Please provide your information and a member of our Business Development Team will be in touch or check the box below to attend one of our webinars.