Success at The Institute: Putting Clients First – An Interview with Malcolm Lui at Eversprint
Please feel free to listen to the full interview here – or read the transcripts here.
The Institute for Wealth’s CEO, Matt Medeiros sat down with Malcolm Lui, the Managing Member of Eversprint to discuss the tactics he used to grow The Institute’s revenue from $3.5 million in 2014 to $5.6 million in 2017, and to $8 million in 2018.
In this podcast, hear Matt Medeiros as he attributes the success and the growth of The Institute to having a synergistic team; and explains how his team accelerated The Institute’s high-value sales by capitalizing on the secular trend of advisors going independent. Medeiros also explains to Lui how The Institute aims to create partnerships with independent advisors instead of focusing only on promoting the Institute’s own brand. Medeiros compares it to a franchise model that provides all the products and services – while the advisor takes on the responsibility in successfully communicating directly with the client; this is the most differentiating factor between the Institute and other advisory firms.
Another distinguishing characteristic: The Institute does not do contracting outside of the back office. Other advisory firms take on advisors that eventually become employees. Many that do business with The Institute have left larger firms such as banks and wirehouse firms. There’s no need for them to be an employee in that relationship.
“All the advisors we work with are ten ninety-nine; it gives them flexibility as a business owner to create a business that is truly their brand.” – Matt Medeiros, CEO at The Institute for Wealth Management. “The Institute is highly selective in who we do business with. We selectively hire advisors who have a similar culture to ours… our culture is a ‘putting clients first,’ type of philosophy.”
THIS MATERIAL IS FOR INSTITUTIONAL/BROKER-DEALER USE ONLY.
