October 27, 2014 10:33 ET

Financial Planning Firm McAdam Launches Independent RIA

Combines Access, Service and Technology in Hybrid Model

PHILADELPHIA, PA--(Marketwired - Oct 27, 2014) -  McAdam, the Philadelphia-based boutique financial planning firm with nearly 200 advisors managing nearly $1 billion in assets, announced today it has launched a new Registered Investment Advisory (RIA) entity serving their fee-only independent financial advisors and their clients. The formalization of McAdam is the final step toward open architecture and product and service transparency for advisors and clients. At the RIA, Charles Schwab will be providing all custodial services.

Since its founding in 2008, the firm has been affiliated with Voya Financial Advisors, Inc., formerly ING Financial Partners, Inc. ("ING"). Effective October 3, 2014, the firm is now associating with Purshe Kaplan Sterling Investments ("PKS") as their new full-service broker/dealer. 

"We see this as a critical part of our evolution as a leader for both clients and advisors in the personal financial services space," said Michael McAdam, founder and CEO. "Launching this fee and commission RIA hybrid model is the final step toward true open architecture."

RIA hybrid models combine the unbiased broad access to world-wide products and services, with the high-touch relationships and service of a truly independent brokerage platform. 

"This move allows us to make key operational improvements to virtually every part of our business," said McAdam. "Back in 2008, ING was the ideal foundational partner for us. But today we see ourselves as an entirely new breed of financial services firm -- on the front end of the RIA hybrid trend." 

The McAdam launch is part of a small but growing trend of traditional firms who are becoming hybrid RIAs, typically offering fee-based investment accounts and broad financial planning services. As part of its launch, the firm plans to introduce a new branded identity, website, advisor and client portals, state-of-the-art dashboards and a national targeted marketing platform.

The number of wealth managers who registered as investment advisers grew at an annual rate of 8 percent between 2004 and 2012, while brokers at traditional firms fell by an average of 1.2 percent in those years, according to Cerulli Associates, a Boston-based wealth management consulting firm.

About McAdam LLC.

McAdam is an independent financial advisory firm with a nationwide network of more than 200 advisors operating out of six offices in Philadelphia, Chicago, Boston, Tysons Corner, Jersey City and St. Petersburg. McAdam has developed an intelligent advisory model known as its Advanced Advisory Model™. This model integrates all three areas of financial planning: the financial, the personal -- and the professional, to help McAdam's clients achieve their goals. With the firm's advanced knowledge and deep experience they help professionals make informed decisions and provide a new level of clarity and control.

Securities offered through Purshe Kaplan Sterling Investments, member FINRA/SIPC, Headquartered at 18 Corporate Woods Blvd, Albany, NY, 12211.


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