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BOSTON, Jan. 13, 2025 ~ Boston-based financial advisory firm, Winthrop Wealth, has recently made a strategic move to transition to an advisory-only practice. This means that none of its advisors will maintain dual registration with a broker/dealer when providing services, offering commissionable securities products, or brokerage accounts.
This decision highlights Winthrop Wealth's dedication to providing consistent client service and helping clients achieve their financial goals through innovative strategies tailored to their unique needs. With this transition, the firm will have the flexibility and increased independence to offer a wider range of investment options and adopt innovative technologies.
Max Winthrop, CEO of Winthrop Wealth, expressed his excitement about this milestone for the firm. "Transitioning to an advisory-only focus marks a significant step in our growth and investment in our future. It enables us to further prioritize our clients' best interests and help them live life to its fullest," he said.
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While Winthrop Wealth will still maintain a relationship with LPL Financial as a partner in certain aspects of their business and custodian for accounts, this move demonstrates their commitment to providing value through investment advisory and financial planning services.
The distinction between brokerage and advisory roles is important for clients to understand. Investment advisors receive compensation in the form of a fixed fee or a percentage of assets under management for providing guidance on securities, ongoing portfolio management, and/or financial planning. On the other hand, brokers earn commissions by executing trades or facilitating the buying and selling of assets on behalf of clients.
These two roles are regulated by separate entities with distinct qualifications required for practice. Brokers are overseen by FINRA while investment advisors are regulated by the SEC. However, both professionals are legally bound to act in the best interests of their clients.
With a focus on integrity, transparency, and client-centric values, Winthrop Wealth is committed to continuing to serve its clients with dedication and experience. They look forward to supporting their clients on their journey towards financial success and helping them live a fulfilling life.
This decision highlights Winthrop Wealth's dedication to providing consistent client service and helping clients achieve their financial goals through innovative strategies tailored to their unique needs. With this transition, the firm will have the flexibility and increased independence to offer a wider range of investment options and adopt innovative technologies.
Max Winthrop, CEO of Winthrop Wealth, expressed his excitement about this milestone for the firm. "Transitioning to an advisory-only focus marks a significant step in our growth and investment in our future. It enables us to further prioritize our clients' best interests and help them live life to its fullest," he said.
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While Winthrop Wealth will still maintain a relationship with LPL Financial as a partner in certain aspects of their business and custodian for accounts, this move demonstrates their commitment to providing value through investment advisory and financial planning services.
The distinction between brokerage and advisory roles is important for clients to understand. Investment advisors receive compensation in the form of a fixed fee or a percentage of assets under management for providing guidance on securities, ongoing portfolio management, and/or financial planning. On the other hand, brokers earn commissions by executing trades or facilitating the buying and selling of assets on behalf of clients.
These two roles are regulated by separate entities with distinct qualifications required for practice. Brokers are overseen by FINRA while investment advisors are regulated by the SEC. However, both professionals are legally bound to act in the best interests of their clients.
With a focus on integrity, transparency, and client-centric values, Winthrop Wealth is committed to continuing to serve its clients with dedication and experience. They look forward to supporting their clients on their journey towards financial success and helping them live a fulfilling life.
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