Angie Herbers, the veteran consultant, writer and speaker, has launched a new company, FourPointe Consulting Partners, that will focus on consulting to independent advisors who want to grow their firms. Based in San Diego, FourPointe will include the staff consultants of the former Angie Herbers Consulting who had moved with her in 2014 to form a partnership with Kristen Luke of Wealth Management Marketing Inc. that was eventually named Kaleido Inc.
Herbers — a columnist for Investment Advisor and blogger for ThinkAdvisor.com, declined to comment on the Kaleido partnership.
At FourPointe, Herbers said in an interview Tuesday that “I have the same mission that I had since starting consulting 16 years ago; providing independent, objective advice to independent advisors.”
However, she said that advisors “are different than they were 16 years ago” and that her consulting work will continue to follow the trends in the advisory industry. “Two years ago, one big trend was marketing and growth; now, there are other trends in consulting advice.” To deal successfully with those trends, “advisors could benefit from an independent consultant,” she said, one that’s “not affiliated with any other institution.”
What are the challenges facing advisory firm owners? “When you’re the owner of an advisory firm, you have all this information in your head. That can be overwhelming.” It’s important that firm owners have someone they can trust, she said, to deal with those overwhelming issues. “Often they don’t have a person on their team that they can trust” to provide objective advice. That’s where FourPointe can help, she said.
Beyond providing that trusted, objective advice, will FourPointe do anything different?
“In the past we’d have clients call us with problems and we’d have to work with them on a long-term retainer” basis to address those internal issues and foster growth. Now, however, she sees “many advisors who are in crisis, who need help immediately,” so FourPointe will provide that assistance in addition to their longer-term retainers.
The major crisis situations she sees with owner-advisors are “employees who quit and take some clients or they’re stuck with deadlines around succession planning; or a client service issue — you never know what crisis situation will impact the business.” In such a crisis, she said, “you’re not objective; we help that firm work through the issues so they can make better decisions quickly.”