Chalice Financial Network takes a consultative approach in helping small advisors scale their business and take the fear out of technology choices. The company achieves this vision by creating a roadmap focused on key business pain points that drive value for wealth managers. Gregg, the Founder and CEO of Chalice Financial Network, explains how more often than not, a wealth manager’s clients are invested in highly correlated assets, causing portfolio managers to drift outside of their core mandate (yet within the broad guidelines of the investment’s prospectus), making a small-cap growth fund look more like a mid-cap growth fund and vice versa. “Chalice Financial Network, in partnership with WealthForge, provides wealth advisors access to alternative investments for accredited investors like real estate and private placements that are non-correlated to the other investments in their portfolio,” adds Gregg. This allows clients to leverage WealthForge’s streamlined investment process and increase their compliance oversight over such investments using a purpose-built technology platform. As part of their offering, the company is developing a community dedicated to solving unique challenges for wealth advisors and entrepreneurs through a peer-to-peer collaboration, and guidance through the entire lifecycle of their business’ start-up, growth, succession planning, and sale.
While further elucidating CFN’s capability in delivering both business and technology solutions to members, Gregg shares two case studies. The first example focuses on a wealth manager’s desire to provide health insurance to his employees within his benefits budget. The wealth advisor predominantly paid a flat rate for employees to purchase health insurance on the Affordable Care Act exchange. In only some cases did this cover employee costs. CFN’s partnership provided access to the nation’s largest PEO, enabling the wealth advisor to provide health insurance along with dental, disability, and vision coverage for all employees at the same price of his previous plan. In the second example, Gregg highlights CFN’s ability to negotiate scale pricing that delivered yearly savings of approximately $10,000 for a wealth advisor, which he reinvested in his business to drive future growth. “By himself, he didn’t have a loud enough voice to warrant preferred pricing, but in partnership with Chalice Financial Network he could take advantage of our group buying power,” says Gregg.
Chalice Financial Network is dedicated to providing technology and services that support the success of our members and strategic partners
The company has a number of factors that help ensure a competitive edge: seasoned leadership that grew up in the wealth management/wealth management technology industry, a clear vision and goal for Chalice Financial Network’s future, a target market that demands help, and a budget-friendly SaaS-based pricing model. “Chalice Financial Network is dedicated to providing technology and services that support the success of our members and strategic partners,” concludes Gregg.