Fragasso Financial Advisors, an investment management and financial planning firm, is celebrating 25 years of being an independent investment advisor! To celebrate this milestone, they produced a commemorative video interview series with their founder, Bob Fragasso. The video series, titled “25 Years of Independence” consists of a 10-segment series of videos, on their Independent Advisor Solutions platform site, FragassoPartners.com.
It first begins discussing the 40-plus year evolution of the industry and what led the Fragasso to seek independence back in 1996. Fragasso stated, “If I was going to do business the way I felt I needed to do it, then I had to move to independence”. A short period of time later, Fragasso wrote a book titled, “Starting Your Own Practice”, and fifteen years later came out with the second edition including 15 more years of experience and a plethora of more information about his journey.
The second video in the series discusses why Fragasso chose to begin his independent investment firm. When first setting out to establish Fragasso Financial Advisors, he compared leaving his former employer to the D-Day Invasion in Europe during World War II. “Leaving a large firm like that with the specter of being locked out and not being able to deal with my clients forced me to deal with the secrecy that Dwight Eisenhower and the Allies employed in the D-Day Invasion of Europe. It’s not just hyperbole. It had to be that secret”.
The series also discusses the team at Fragasso Financial Advisors and how they operate as a “Special Ops” team, as stated by Fragasso. What started out as an 11-man team in 1996 is now a team of 44 with a substantial book of business. They have multiple departments internally that are specialized and manned by various people as part of a choreographed whole in the organization structure and each of these departments has played a unique role in the company’s success over the past 25 years.
Another integral factor to Fragasso Financial Advisors’ 25 years of success was due to embracing the use of technology. Fragasso stated, “Not technology for tech sake, but the technology for functionality, productivity, and profitability.” The technology in combination with their team of experienced professionals has allowed them to carry out their day-to-day jobs more efficiently and eliminate repetitive work that can be put it into the hands of technology.
Not only has technology benefited the team in terms of productivity, but it has allowed the team to communicate with their clients more effectively and more frequently. Technology has also enabled Fragasso Financial Advisors to create their own portal through their website that allows clients to have 24-7 access to their holdings.
Over the past 25 years, Fragasso Financial Advisors has grown into a renowned organization with over $1.8 billion in management and advice.
The last video segment will be added to the site in December. To view the entire series to date, you can visit Fragasso Financial Advisor’s video library. The intent of this series was to create awareness of Fragasso’s Independent Advisor Solution initiative. The videos highlight the pain points and growth challenges that are still faced by financial advisors today. Bob is telling his relatable story and advisors seeking independence and/or growth can identify parallels in their own career or business.
Investment Advice offered by Investment Advisor Representatives through Fragasso Financial Advisors, a registered investment advisor.
About Fragasso Financial Advisors: Fragasso Financial Advisors, Inc. is an independent, employee-owned, primarily fee-based investment management and financial planning firm headquartered in Pittsburgh, PA. For more information on the series, visit https://www.fragassoadvisors.com/
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