Transforming Financial Advisory through Strategic Partnerships
In the dynamic world of financial advisory, the recent move by Christian R. Benard, a seasoned Commonwealth Financial Network advisor, marks a significant development. With approximately $365 million in assets under administration, Benard transitions his team, Innovative Financial Inc., to become part of Cetera's dedicated community of tax-focused advisors, known as Avantax.
A Natural Fit for Tax-Focused Planning
Operating from Troy, Michigan, Benard has established a holistic wealth management practice that prioritizes tax-centric financial planning. This transition to Avantax is seen as a strategic alignment, fostering a robust partnership while leveraging Fidelity's NFS for custody and clearing services, which he has relied on extensively in his career.
The Vision of a Comprehensive Service
"Our goal is to be a one-stop-shop for clients by going more in-depth, like talking with clients about how we can help improve their tax situation based on their investments. Our holistic approach to wealth management aligns perfectly with Avantax," Benard explained. This philosophy underscores his commitment to serving clients' best interests, at the core of his fiduciary standards.
From Humble Beginnings to Major Success
Benard's journey in the financial advisory landscape is remarkable. Over the last 15 years, he has grown his assets from a modest $15 million to an impressive $365 million, demonstrating not just growth in numbers but also in trust and reputation. Early in his career, he actively engaged in establishing relationships through retirement planning workshops, later adding a tax practice to his portfolio.
Transitioning Amid Industry Changes
His decision to leave Commonwealth Financial Network was compelled by the acquisition of the organization by LPL. Recognizing the need for a broker-dealer that values advisor independence and superior service, Benard found touchpoints with Cetera and the Avantax community that resonated with his needs.
A Positive Change for Advisors
"It's bittersweet leaving Commonwealth, which we did only because they were acquired, but I know coming to Cetera and Avantax is going to be a good move," remarked Benard. He emphasized the importance of effective relationships in advisory roles, highlighting that Cetera's commitment to genuine engagement and straightforward solutions was pivotal in his choice.
During his exploration of potential broker-dealers, Benard evaluated multiple options but remained firm on retaining Fidelity's NFS. He found that Cetera stands out for its unwavering support for advisor independence, allowing him to operate within the fiduciary framework he values. "When people come to us, they're looking for what's best for them," he said, reaffirming his dedication to client welfare.
Welcoming Christian Benard to Cetera
In welcoming Benard to their community, Cetera Wealth Management President Todd Mackay remarked on the alignment between Benard's client-centric approach and Cetera’s operational ethos. Mackay expressed confidence that the resources, technology, and community support available through Cetera would further empower Benard in his advisory journey.
Embracing a New Opportunity
Advisors looking for flexible affiliation models that allow them to grow in their unique ways will appreciate Cetera's offerings. The Avantax community particularly serves to address the varied needs of financial professionals, illustrating a commitment to effective wealth management and client well-being.
About Avantax and Cetera
Avantax empowers tax professionals, financial advisors, and CPA firms with solutions that minimize tax burdens through intelligent financial planning. Cetera Financial Group, with its robust advisory network, continues to support independent advisors with versatile models and tools for sustainable growth, managing substantial assets under administration.
Frequently Asked Questions
What motivated Christian Benard to join Cetera?
Christian was drawn to Cetera due to their commitment to advisor independence and superior service, particularly after Commonwealth was acquired by LPL.
What services does Benard's firm offer?
Benard's firm focuses on holistic, tax-focused financial planning and integrated wealth management to enhance client experiences.
How has Benard's firm grown over the years?
Over 15 years, Benard's assets grew from $15 million to $365 million through relationship-building and expanding services.
What is Avantax's role within Cetera?
Avantax provides tax-intelligent wealth management solutions, helping professionals minimize client tax burdens effectively.
What resources does Cetera offer to its advisors?
Cetera offers personalized support, flexible affiliation models, and advanced technology and resources to facilitate growth for financial professionals.
