Who is the ideal advisor for EverSource Wealth Advisors?

The ideal advisor for EverSource is one who is committed to integrating faith and values into their business, desires to use their business to encourage Christian clients in the areas of stewardship, and to use their skills and influence to provide excellent service to non-Christian clients as a witness for Christ.

Do I have to be a fee-only advisor to join EverSource Wealth Advisors?

Not necessarily. We will review your book of business in our due diligence process to assess your revenue sources. If you receive commissions, we will work with you to transition completely to a fee-based book or help you establish a relationship with a friendly broker-dealer to accommodate legacy accounts which generate commissions.

Can I partner with EverSource through my own RIA firm?

EverSource Wealth Advisors works with other RIA firms through several service models:

Portfolio Management

This service model provides access to Black Diamond portfolio management software. It is ideal for start-up and small RIAs who want to outsource performance reporting and billing and desire to provide their clients with a high quality portfolio management system and client investment portal.

EverSource Asset Management Program

EverSource’s turnkey asset management program (TAMP). This is a cost-effective solution for outsourcing investment management and accessing third-part models(Vanguard, Nuveen ESG, Blackrock, DFA, etc.), along with the ability to utilize EverSource as an OCIO to custom design faith-based model portfolios.

Full Service

Fully outsourced RIA platform with asset management, tech package, back office support and compliance services. This model is designed for mature RIAs (i.e. $50mm and up in Assets Under Management) who are looking to grow and scale profitably, add virtual support staff, and require a fully integrated and scalable tech stack.

EverSource Wealth Advisors also provides a variety of consulting services such as compensation consulting, dispute resolution and family dynamics consulting.

What’s the process for joining EverSource Wealth Advisors?

We will start the due diligence and discovery process with you to learn how we can best partner with each other. Then we will develop a customized onboarding plan depending on the affiliation model that you choose and bring in outside consultants as needed.

What's your typical onboarding process?

This will depend on what affiliation model you choose but each onboarding process will include:

1. Due diligence

2. Planning

3. Transition and onboarding project plan design

4. Affiliation model mapping process: investments, operations, compliance, client service, marketing, human resources etc.

5. Onboarding of IAR, Clients, Accounts and Assets

6. Service model set-up

How long will it take to get up and running if I join EverSource?

This will depend on the complexity of your transition, but typically an advisor can be onboarded with 3 months of planning, and accounts and assets move over within 3-6 months. Many accounts transfer over in a matter of weeks. Larger wirehouse breakaway teams typically involve a longer planning phase.

How do investments work on the EverSource platform?

EverSource is a multi-custodial platform, meaning we can hold, trade, and report on investments through our portfolio management system, Black Diamond Wealth Platform, with multiple custodians, including TD Ameritrade and Schwab.

What investment models does EverSource have in place?

EverSource is a total support system for independent wealth advisors. We do not require advisors to use any proprietary EverSource models. Rather, we partner with a number of asset management partners to deliver model portfolios.

We have developed a specialty in delivering OCIO consulting for faith-based investing strategies. EverSource manages and regularly adds third-party model managers to our platform (Vanguard Core, Vanguard CRSP, Nuveen Growth ESG, Dimensional Wealth Core, Dimensional Wealth Social, BlackRock Target Allocation ETF, etc.) in addition to helping independent advisors build their own models.

EverSource also provides due diligence and contracts with separate account managers on the SMA marketplaces for TD Ameritrade and Schwab to add these strategies to the platform.

Who does the trading?

Advisors on the EverSource platform have several trading options depending on their preference. These include:

• Firm as PM – firm manages trading for portfolio models through the EverSource Asset Management Program. EverSource investment department updates and oversees models, and advisors determine the appropriate program, strategy, cash management for client accounts.

• Advisor as PM – advisor manages trading for portfolio models. EverSource investment team facilitates through setting up models on Black Diamond Rebalancer for Advisor to use per the Advisors preferences.

• SMA accounts – asset managers with a dual contract or sub-advisory contract manage trading on separate account marketplaces for TD Ameritrade and Schwab. They may trade directly on the custodial platform or use a prime broker. Advisors provide direction to asset managers based on client needs.

• Fixed Income – CDs, T-Bills, T-Bonds, Money Markets trading for accounts with cash management mandates are facilitate directly through TD Ameritrade and Schwab fixed income desks by the advisor.

What other back-office services do you provide?

We provide billing for fee based advisory services via our Investment Operations team through our Black Diamond solution. We also facilitate access to the following services:

• HR Consulting

• Compensation Consulting

• Family Dynamics and Conflict Resolution Consulting

• Benefits (Health, dental, vision, long term disability, 401k)

• Bookkeeping

• Financial statement preparation

• Tax return prep for individuals and privately held businesses

• Valuations for privately held businesses

• Foreign tax compliance

What does it mean when you say that compliance supports integrating faith in my business?

Instead of discouraging or even prohibiting advisors from engaging in faith conversations, ESWA compliance encourages advisors to look for ways to engage with clients on matters of faith. Rather than veto the use of Bible verses in marketing materials, we applaud the efforts of advisors to live out their faith in the marketplace. We might even have a few verses to suggest!