Building a Solid Foundation with Elevated Service & Support

Good Enough Isn’t Good Enough

Adam Goldstein had always been told he had access to the best of everything at his previous firm, but he’d never actually examined that claim. “Everything was good enough,” he said. “But once we knew we could do better, that was the nail in the coffin. If we can do everything we were doing before the same or better, why wouldn’t we?”

That’s when Goldstein discovered LPL Financial’s breakaway solution, Strategic Wealth. Not only would he have the support he was used to as a W-2 employee, but he’d also gain greater autonomy and flexibility. 

Exceptional Service

Unlike many traditional independence or employee models, Strategic Wealth empowers advisors to be entrepreneurs without having to run the day-to-day business operations. A team of LPL specialists work as an extension of the advisor’s business, handling marketing, human resources, technology, real estate, bookkeeping, and other core functions.

Under this model, Goldstein would be able to focus his time and attention on elevating his clients’ service experience — including offering consolidated statements. Because LPL is a holistic wealth management firm — RIA, custodian, broker-dealer, clearing firm, compliance partner, and technology provider all in one — Goldstein’s clients would receive a single statement instead of two.

Ambitious Transition

Another key differentiator of the Strategic Wealth package for Goldstein was the guidance and assistance provided throughout transition. With an ambitious timeline, it was vital for him to have the right level of support, and LPL rose to the challenge.

“It was a very fast transition,” he said, explaining how he surprised even the Strategic Wealth team. “The first guy who said he could run a three-minute mile, everybody said it can’t be done. We told them we were going to run a three-minute mile, and we did.”

Goldstein especially appreciated how the real estate and technology teams worked hand in hand to meet the transition deadline, tending to details like office layout and narrowing the field of available hardware options. “They made it easier to make a decision about something that’s not my area of expertise,” he said.

A Firm Foundation

The Strategic Wealth team had an immediate positive impact in standing up Goldstein’s new firm, Adara Wealth Management, particularly in developing key HR and business planning documents. One of the most unique and valuable documents the team helped create was a business canvas.

“We made it firm-wide, where everybody had input into the vision of the firm and how to get there,” Goldstein said. The canvas serves as a reminder to tend to those things that may not be urgent, but are important, such as systematizing the annual review process for a better client experience. “Now we have this memorialized and can drive client experience to new heights.”

Looking Ahead

When they joined LPL, Goldstein’s partner, George Chardukian, was in his late 60s and had not yet set a retirement date.  “Being independent means we can come up with a retirement period and transition timeline that allows for a smooth, orderly retirement experience.” When the time is right, the team will work with their Strategic Wealth CFO to review calculations and develop a plan that best suits everyone’s needs.

Meanwhile, Adara Wealth Management is focusing on the values that drive them — especially client experience. “We strive to lift people up by doing the right things for the right reasons in the right way,” Goldstein explained. “We’re always looking to lift people up, wherever they are in life.”

And they know they have the support to do it. “LPL does listen,” Goldstein said. “We really do feel like we have a voice.”