In honor of the 15th anniversary of the IMPACT Awards program, Schwab put the spotlight on Moneta as the second-ever winner of the Best-in-Business Award.
Schwab selected Moneta from among 5,000+ firms in 2007 for advancing the wealth management industry through visionary leadership, operational excellence, technology innovation and impressive growth. Moneta was recognized for its success in delivering a wide array for services to clients: investment planning, estate consulting, tax planning, retirement planning, charitable giving, business succession planning and risk management.
Schwab interviewed Moneta’s Managing Partner and Chairman of the Board, Eric Kittner, to reflect on the significance of the firm winning the prestigious award.
“Winning the IMPACT Award was an affirmation of the care we provide our clients,” Kittner said. “It also provided the opportunity for us to be viewed as an industry leader, and that’s important from our perspective because if we’re an industry leader, we’ll attract the best talent. And if we attract the best talent, we’ll attract the best clients and be able to serve the clients the way we need to.
“One of the biggest things we’ve focused on since 2007 is centralizing the non-client facing items such as billing, onboarding new clients, or maintenance paperwork. We still have to do those things and do them well, but our focus has really been allowing our teams, the client-facing partners and advisors, as much time with clients on the value add side as possible.
“Since winning the IMPACT Award, we crossed our 30th anniversary as an RIA. We’ve seen numerous transitions from the first-generation partner to the next-gen partner. That’s happened quite a few times. We know that’s an area that firms are struggling with at this point in time, and oftentimes there’s a sale or change in control event. We’ve really been able to transition the firm internally, which we think is in the best interest of our clients. We’re focused on building sustainable businesses for our teams and our clients, and we’ve seen that happen.
“From a firm perspective, I give a tremendous amount of credit to our founding partners who really handed over the leadership roles to many of the second-gen partners. They turned it over to me at 39 years old, and many firms wouldn’t have done that. We have more and more second-gen partners involved. From an industry standpoint, not every firm is pushing the envelope like that, so I’m especially proud of that.”
To see the full Schwab IMPACT Awards Main Street Stories article, click here.
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