What Is An Integrated Advisor?
It's a complex question with multiple answers.
According to "The Rise of the Integrated Advisor" by Tom McCullough in The Journal of Wealth Management, there are four types of advisors from singularly-focussed specialist to the fully integrated advisors:
- Specialist advisors are happiest focusing on their own area of expertise, with little or no integration, coordinating with others as independent providers when needed. They essentially identify as professional experts who may contribute their expertise when asked.
- Referrers are focused on their core skill set, but also are aware that clients need other professionals, to whom they habitually make referrals. They may have a group of external professionals they use on a regular basis.
- Collaborators are specialist advisors who actively work with peers in other fields, inside or outside their firms, to deliver more comprehensive service to clients. This approach may lack a central strategy and integrated process, since there is no leader or point person with the skillset to move issues forward successfully.
- Integrated advisors are the highest level of integration. These advisors are not specialists, though they may have been in the past. Now they have taken on a new generalist role with very different skillsets. They serve as the general contractor managing, implementing, and monitoring coordinated services."
At Sobu Capital, we pride ourselves on our ability to provide integrated advice by collaborating with a select group of independent strategic partners.
Key Attributes Of An Integrated Advisor
Continuing the reference to the paper titled, "The Rise of the Intergrated Advisor" by Tom McCullough, in The Journal of Wealth Management, we have taken the liberty to distill the paper's key markers for an Integrated Advisor into the statements below.
Key attributes of an Integrated Advisor include Mastery, Mindset, Method, and Maturity. These attributes encompass a broad spectrum of skills, beliefs, and practices that successful advisors possess in guiding complex families towards their goals. Integrated advisors prioritise a client-centric approach, align their objectives, and maintain a learning-oriented mindset.
Moreover, successful integrated advisors exhibit maturity in their work, demonstrating qualities such as humility, conservatism, independence, collaboration, level-headedness, and discretion. These attributes are crucial in navigating the intricate dynamics of the family ecosystem and building long-lasting relationships based on trust and professionalism.
In appointing advisors for a wholesale client base, seeking these attributes ensures a successful match between investors and advisors.
At Sobu Capital, we embrace these attributes and welcome the opportunity to discuss how we can best serve ultra-high-net-worth individuals (UHNWs) and Family Offices (FOs) on their wealth management journey. Let's connect and explore how we can support your financial goals and aspirations.