Toronto-based Accretive 360 Inc. has sold its Elite Advisor Program to a new firm jointly owned by industry veterans George Hartman and Tom Reimer, who plan to grow the program and augment it with a comprehensive new technology platform featuring tools and resources for advisors.
Accretive Advisor Inc., the new Toronto-based firm (named after the former division of Accretive 360, which was focused on helping advisors build more engaged relationships with their clients), is acquiring all intellectual property, brand and processes associated with the Elite Advisor Program.
The program, launched two years ago by the Accretive Advisor division of Accretive 360, is dedicated to identifying financial advisors who have attained true engagement with their clients, in addition to meeting the highest industry standards of professionalism.
“The decision to sell our Elite platform was driven by our belief that Tom and George will bring great ideas, experience and energy to an already successful concept,” said Randy Ambrosie, founder of Accretive 360 and chairman of Advisor Impact – a business acquired by Accretive 360 in 2010. “And, they have created a partnership with a leading technology provider that will create a whole new level of value for advisors in the program.”
The Elite Advisor Program involves a rigorous qualification process that audits various aspects of an advisor’s practice, including the satisfaction and engagement levels of their clients, their professional standards and their service offerings.
“The idea is to recognize or find the truly elite advisors, give them this elite badge after a qualification process, and then help them market their business and grow their business,” said Reimer, who has almost three decades of financial services industry experience, including senior roles with AGF Funds Inc. and Brandes Investment Partners. “We hope it will ultimately be viewed as the good housekeeping seal of approval for financial advisors. There really isn’t any such thing out there.”
Beyond the Elite Advisor Program, Accretive Advisor will offer a variety of tools and resources designed to help advisors build long-term value in their businesses, including a new set of consulting offerings in the marketing and social media space.
“We’re going to significantly augment the offering,” said Hartman, who is also CEO of Toronto-based Market Logics Inc. and is a recognized industry authority on building high calibre wealth management practices.
The company has partnered with Infinite Media Inc. to create a technology platform that will give all financial advisors access to a vast array of content, insights, best practices, tools, coaching and other resources to assist them in building and promoting their businesses. The first phase of the new advisor portal is scheduled for launch in September, and the company will continue to introduce new offerings in the months that follow, according to Hartman.
“We have a fairly robust plan for the next 24 to 36 months to continually roll out new features, new capabilities, new resources for advisors,” he said. “This is something that has not been done before to the extent that we intend to do it.”
Added Reimer: “What we’re trying to do is be the go-to place for a financial advisor, in terms of education or coaching.”
Also included in the acquisition of the Elite Advisor Program is Accretive’s Insights & Opinions website and newsletter – an educational resource for investors, which currently has more than 40,000 subscribers.
Accretive 360 acquired Market Logics in November, but re-sold the business to Hartman as part of the latest deal involving the Elite Advisor Program. Accretive 360 will now focus its efforts on the Advisor Impact business.
“Our focus at Advisor Impact will continue to be squarely focused on helping advisors, dealers and asset managers drive deeper client engagement and growth,” Ambrosie said.