Challenge
One long-term client, a boutique Atlanta-based Registered Investment Advisor (RIA) firm, had incorporated Aurora’s equity strategy into their client portfolios for almost 25 years. When a larger firm bought the RIA’s broker/dealer, the acquiring broker would not allow their advisors to work with boutique investment managers, such as Aurora.
SOLUTION
Aurora’s solution was to help the RIA move his accounts to Charles Schwab. We also introduced him to a local outsourced compliance firm, eliminating his regulatory and operational burdens. He remains the primary advisor and point of contact for his entire book of business.
RESULTS
Our client now focuses his time as he prefers, free of operational issues, with clients and investments. In addition, the account transfer to Schwab saved him the 35 basis points the acquiring broker/dealer wanted to charge to be the investment manager on his accounts.
Every client has a unique story. Your plan and results may differ.