Why an “Open Architecture” Advisory Team is the Best Move for Your Bottom Line


March 13, 2014


These days, it’s easy to go to a big-box retail store and buy groceries, hardware, a new DVD you’ve been wanting and even pick up a pair of socks while you’re at it. This all-under–one-roof philosophy is available in financial services as well. You can have your checking account under the same corporate umbrella as your wealth advisor, your insurance broker, your tax advisor, etc.


The only question is, would you want to?


The answer is no, and here’s why. Whereas the concept of having all advisors under a single roof would seem to make sense (They will at least be communicating with each other, or so you would hope!), the downside is that they are restricted to (and incentivized for) selling their own products & services, as opposed to researching which ones in the marketplace will serve you best.  


In the all-in-one approach, the different advisors are all part of the same corporate culture. Their job is to bring business to the in-house wealth management group, the in-house mortgage group, and so on. This is advantageous for the financial services company – but not necessarily for its clients.


Recently, one of our clients mentioned to their bank teller that they were looking to refinance their mortgage. As you can guess, not many seconds passed before the client found himself shaking hands with one of the bank’s refi specialists. Thank goodness our client didn’t do the deal. When they checked with us we referred them to a best-in-class firm that got them a ½% better rate and lower closing cost.


The upside of an open architecture approach

How do you get the best of both worlds – a one-stop solution with an outside-the-box range of options?


When you take away the exclusionary all-in-one feature and expand the box, there are many more choices and, very likely, better options than are available under one roof. The key is finding someone to coordinate this “open architecture” approach.


This is where PARTNERSINWEALTH comes in. Acting as your PERSONALCFO,our team expands the box. We constantly seek out and match best-in-class advisors, each with a specific expertise area and no conflict of interest, to the specific needs of our clients. We serve as coordinator, enhancing your team’s effectiveness by ensuring they collaborate for your benefit.


In a nutshell, whereas the all-in-one approach is biased toward selling its own products, the open architecture approach on which PARTNERSINWEALTH is modeled is biased towards you – maximizing your financial best interests. What better way to remove the guesswork from your financial plan, giving you the confidence to rest easy?



The professional team at PARTNERSINWEALTH will bring together the diverse aspects of your family’s financial life to remove clutter and improve financial decision-making. We help protect and accelerate the growth of your family’s net worth so you can achieve your life-goals. For more information, helpful guidance or professional assistance with your financial big picture, please contact Jim Waters, CFP®, at PARTNERSINWEALTH 713.964.4028 or jrw@partnersinwealth.com.