SpringReef Partners will offer clients personalized, unbiased evaluations and recommendations on financial advisor selection and performance.

Short Hills, NJ, April 11, 2011 --(PR.com)-- Wealth management industry veteran Doug Black announced today the formation of SpringReef Partners, LLC, an independent, unbiased consultancy providing insight to high net worth families and organizations on the selection and performance of their financial advisors. SpringReef Partners works on behalf of clients as an independent partner and advocate in the wealth management process, guiding them in the selection of best-in-class financial advisors, driving appropriate fees, monitoring and reporting investment performance and ensuring the quality of ongoing advice and service.

The need for these services has become increasingly apparent over the last decade. Financial services firms have for years centered their time and energy on profits and scale, significantly expanding their advisory forces and creating an industry focused all too heavily on assets, revenues and the sales ability of financial advisors. SpringReef Partners estimates that less than 20 percent of the over 300,000 registered advisors in the United States actually have the background, experience and capabilities necessary to deliver exceptional advice to high net worth clients.

It is the small, exceptional set of truly ethical, client-centric professionals – financial advisors who consistently differentiate themselves through the advice and service they provide – that SpringReef Partners seeks out for its clients. With the right balance of experience, capabilities and attentiveness to client needs, these outstanding professionals provide clients with the type of guidance and dedication that can often lead to stronger financial results.

SpringReef Partners uses an unparalleled, time-tested process to connect clients with exceptional financial advisors who are:

Established, well-regarded and highly ethical
Wholly committed to understanding and meeting client-specific needs
Focused on the investment process rather than on selling products
Knowledgeable about the solutions they offer and implement
Experienced, intelligent and less susceptible to common mistakes
Reasonable and transparent regarding their commissions and fees
Dedicated to providing superior client service
Well-matched with client values and beliefs

In addition to evaluating and recommending financial advisors, SpringReef Partners works with clients to establish appropriate pricing for advisor-delivered products and services, and offers independent, state-of-the-art consolidated performance reporting. The firm also provides ongoing monitoring of all recommended advisors to ensure advice and service quality meets client promises, expectations and future needs.

As a successful professional with over thirty years of financial services experience, Doug Black – founder and president of SpringReef Partners – possesses first-hand knowledge of the inner-workings of the wealth management industry. Prior to launching the firm, Mr. Black was the Head of Strategic Business Development and the Chief Operating Officer of Private Wealth Management for UBS Wealth Management. During his tenure as an industry executive, he managed business development for over 2,500 financial advisors in 150 offices, led financial advisor talent acquisition and development, and created one of the most extensive financial advisor due diligence assessments in the industry. With leading experience in the assessment of thousands of financial advisors, Mr. Black possesses the background critical for assisting high net worth clients in the same endeavor.

“Exceptional advisors exist in national, regional and independent full-service brokerage firms, in registered investment advisors and in private banks. Unfortunately, they make up only a small percentage of currently active professionals in the industry,” said Doug Black. “Finding these exceptional advisors is particularly challenging because the industry selects, trains and retains based on sales ability, and to the untrained eye, it is difficult to distinguish the exceptional advisor from one who is simply a good salesman. Helping our clients overcome this challenge is the mission of SpringReef Partners.”

SpringReef Partners is also an important resource to trusted advisors such as Trust and Estate Attorneys and CPAs, many of whom are regularly asked by clients for investment advisor recommendations. The firm offers these groups of experts the ability to respond professionally to client requests while significantly reducing their relationship risk and maintaining their primary service focus. Additionally, the service offerings of SpringReef Partners can be beneficial to trustees and boards of charitable organizations, allowing them the opportunity to reduce risk surrounding advisor selection and investment performance.

Jeff Capron, Managing Partner at Aronson, LLC, a top 100 certified public accounting firm, commented, "SpringReef Partners fills an important need for accountants and other trusted advisors when asked by a client to provide counsel regarding the selection or evaluation of the performance of a financial advisor. Introducing SpringReef to the situation, given their specific expertise and capabilities, allows us to provide an excellent response to our client's need while at the same time retaining our ability to continue to focus as we should on our client’s accounting, tax and other financial consulting needs that fall within our core capabilities."

SpringReef Partners is not affiliated with any investment firms or financial advisors and does not receive any compensation from the firms or financial advisors it evaluates or recommends, enabling it to work solely for its clients and assure its independence and objectivity.

About SpringReef Partners, LLC
Headquartered in Short Hills, New Jersey, SpringReef Partners, LLC is dedicated to helping high net worth families and organizations evaluate and select the most exceptional financial advisors. For more information, please visit: www.springreef.com.