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TradePMR’s Niche for Custodial Services and Technology: We Only Serve RIAs

Apr 29, 2022 10:06:58 AM

Why TradePMR exclusively works with RIAs


A niche can be powerful for a business.

While a department store may be a good fit for casual golfers finding their next red polo to wear on Sunday, a specialty store could be better for those that are looking for the limited edition Pro VX1s that are used by the pros. The same can be said for financial advisors.

It is certainly not uncommon for advisors to focus on a specific type of client – entrepreneurs, generational wealth, military families and HENRYs (high earners not rich yet), divorced spouses just to name a few. According to CEG Worldwide research, 70% of top financial advisors (those earning $1 million or more annually) focus on a particular niche.

Bottom line, companies that look to meet the needs of every customer typically deal in higher volume, but do they really offer the best-of-the-best? Or do they sacrifice some quality for the sake of a cookie-cutter approach?

That’s the question we ask ourselves at TradePMR. We built our firm to offer custodial services and technology exclusively to RIAs, rather than every type of advisor under-the-sun. By taking a more focused approach, we have been able to develop an offering that fits the unique needs of RIAs and can help facilitate their growth.

RIAs are a Different Breed

RIAs are more than financial advisors – they’re entrepreneurs who handle everything for their business: client relationships, operational burdens, business development, team management… The list goes on.

In our experience, RIAs don’t have time to waste navigating broad solutions that may or may not be a fit for their firm. Every minute for an RIA is valuable, and making the most of that time can be critical in running and building a successful practice.

How do we know? TradePMR was founded by an RIA. 

HubSpot Video

For RIAs By an RIA

TradePMR founder Robb Baldwin started his career as an RIA. He built a strong practice and established good client relationships - everything seemed to be going well. Then suddenly, his custodian underwent a merger.

The poor service he experienced throughout that merger, and the impact it had on his clients, led him to start TradePMR. He felt their team didn’t understand his business, and the unique pressures and challenges of owning and running an RIA.

Robb founded TradePMR to be a custodial service provider 100% focused on serving the needs of RIAs, so no other firms would have to deal with the same issues he experienced. For more than 20 years, TradePMR has maintained that niche.

Big Name or Boutique?

When searching for their next custodial services and technology provider, RIAs should make sure to dive into the nitty gritty of the offering. Does it meet all of your firms needs? Does the offering make sense for your business, and your unique positioning in the market?

Determining how a provider will serve you before signing on, and if that service will be tailored to fit your needs, can be a key in establishing a positive relationship for your business.

Don’t just listen to us. Hear Brian Bischoff’s story, founder of Bischoff Wealth Management. When launching his RIA, Brian signed on with a big-name custodial services and technology provider that he felt was the safe choice. He’d known about the firm for years and was confident they would have the technology and resources to support his new business.

Brian quickly learned that the provider wasn’t everything it was cracked up to be. He ultimately decided to switch over to TradePMR where he found the boutique, RIA-focused approach made more sense for his firm.

HEAR BRIAN'S STORY

TradePMR and Bischoff Wealth Management Group are not affiliates. Securities offered through TradePMR. Mr. Bischoff received no compensation for his endorsement of TradePMR.

Written by TradePMR