“We were willing to go where they were leading us.”
The leadership team at WFA, including Steve Carney, Chase Crump, and Dany Martin, first met RFG while they were trying to formulate a succession plan.
“We were working with another firm and making little progress,” says Chase. “After doing that for maybe a year or two, we heard about RFG.”
Right away, the trio was impressed by the ideas RFG brought to the table—both related to and beyond succession planning.
“They came to us from the beginning with great ideas, and they got our succession plan in motion, which was so important,” says Chase. “We all agreed as a group that we were willing to go where they were leading us.”
Getting on board
RFG began its relationship with WFA by formulating a succession plan that made sense to all three leaders. “We knew we had to get that problem solved, and they were the first people who came to us with real ideas for how to do it,” says Chase. “As they were helping us with that, they hired Rick, and then they hired Shannon. We could see that they were putting a lot of great people on the team, which gave us confidence.”
Steve, who came from Capital One Bank along with Dany, noted that the team considered various options before committing to RFG: “We knew we would eventually have to leave the bank, and I wanted to do it one time and one time only,” he says. “RFG met all our criteria and demonstrated reliability.”
Once WFA decided to proceed, RFG made getting started seamless. “We were very interested in becoming part of the ownership team, and RFG facilitated not only the thinking behind it but also the agreements, the money, the execution, and all of that. In the beginning, securing our 5% and coordinating the process was an important focus.”
Chase notes that from the beginning, WFA’s partnership with RFG has been marked by smooth execution and efficiency, particularly during the onboarding process. “We had thousands of pages of documents all over the office and got the benefit of the RFG support staff,” he says. “We didn’t do any of the heavy lifting.”
RFG has continued to do the heavy lifting in the years since, saving WFA’s team significant time—which they can now spend focusing on their clients
“Technology is our top priority”
The combination of RFG’s high-grade technology and high-touch service has enabled WFA to expedite its growth and shift its focus to other areas of the business. RFG’s Orion technology, for example, has dramatically reduced the time needed to view pertinent client information. “Before RFG, we were stuck in a traditional office format,” explains Chase. “If a client called, I could see their account value, but I couldn’t really get a detailed view of the net return or the history. I’d have to schedule a time to meet with the client and, in the meantime, do a full review. Orion has eliminated all of that. Prep time for client meetings has gone from hours to just minutes.”
Bluemonte, RFG’s proprietary investment platform, has resulted in similar time-savings for WFA. “For the record, we had our own stock trading program,” says Steve. “We’ve explored working with other specialists, but we continue to prefer the consistency and quality we experience with Bluemonte.”
That has given Steve, Chase, and Dany the ability to have what they call “CEO Days,” which are dedicated to team gatherings, marketing meetings, and strategy sessions that help them better run the business.
Explore how WFA grew their total AUM by over $165 million with RFG
The result has been growth. “We had $150M in advisory AUM in 2020, and now we have $340M,” says Chase.
“Our total AUM grew from $300M in 2020 to $465M. And, importantly, our quarterly advisory billing went from $500K a quarter in 2020 to over a million dollars per quarter as of April 2024. That’s been a goal for a long time.”
While the team has certainly enjoyed financial growth, it’s also seen the development of a unique culture.
“We’ve grown the business, too,” says Steve. “We’ve grown our own personal brands and developed team camaraderie. We’ve really become a close office, and I think that’s got a lot to do with RFG letting us be who we are and not putting us in a box.”
Ultimately, Steve attributes much of this growth to RFG’s future-forward vision and technology solutions. “Technology is our top priority,” he says. “We wouldn’t be able to do all the other things—the culture and the people and the teamwork—if the tech didn’t free up our time to manage the money.”
Part of a team
The WFA leadership trio unreservedly recommends RFG to other Independent Advisors interested in growth. Not only has RFG helped stimulate growth across multiple areas of the business, it’s also provided resources, thought leadership, and connections to like-minded Advisors.
Today, the RFG leadership team dedicates considerable time to strategic planning with WFA, bringing insights from industry leaders who engage with other advisors and participate in industry events “We’re getting the best ideas, because I know someone is going to the conferences and getting the pulse of whatever’s going on,” says Chase.
“It’s almost like we’re all part of a team,” adds Steve. “Everyone at RFG is open for ideas, or to answer questions, or to make recommendations. It’s a group of Advisors who prioritize their clients’ needs above
all else.”