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In this episode of the RIA Edge Podcast, David Armstrong, editorial director for Informa Connect’s Wealth Management Group, talks with Michael Conway, founder and CEO of Conway Wealth, about their bespoke approach to wealth management services for the high-net-worth market. The firm has a unique process for understanding clients’ values and priorities beyond finance and creating personalized plans that speak to their longer-term goals and values. Access to a vetted roster of professionals in the fields of health, nutrition, travel and family dynamics is part of the value proposition at Conway. Their customized emphasis on each client has fueled significant growth in recent years and allowed the firm to make a major investment in developing their own fintech with Seeds Investor, an investment platform that facilitates client conversations and gives advisors a path toward deeper and more meaningful portfolios and financial plans.
Specifically, David and Michael discuss:
- Conway Wealth focuses on discovering each client’s motivations and priorities and seeks to tailor a customized plan that moves beyond investments to address their longer-term life goals.
- How the firm formalized its Life & Wealth Network, designed as an exclusive association of professionals and platforms to provide clients with guidance on health, nutrition, relationships, leisure, security, and charitable giving, and how Michael thinks about the economics of using a partner network versus bringing services in-house.
- The metrics that Michael watches closely to ensure the firm is running efficiently and to flag capacity problems before they negatively impact the client experience.
- The decision to build their own stand-alone investment platform, Seeds Investor, to bring client values and priorities into planning discussions and building bespoke portfolios.
Resources:
Connect With David Armstrong:
- WealthManagement.com
- LinkedIn: WealthManagment.com
- LinkedIn: David Armstrong
- Twitter/X: @djamesarmstrong
- LinkedIn: Informa
Connect With Michael Conway:
LinkedIn: Michael Conway
About Our Guest:
Michael Conway is founder and CEO of Conway Wealth Group, a premier, independent financial planning and advisory group. He is also a shareholder of Summit Financial, LLC.
As a successful and well-respected financial advisor, Michael has spent more than 30 years building his practice and providing clients with specialized solutions that blend financial and estate planning strategies with open architecture investment management.
Michael’s high net worth clients include successful entrepreneurs, corner office executives, CEOs, CFOs, Wall Street professionals, professional athletes, and others, all with significant wealth tied to their businesses or employers. Michael’s process focuses on leading clients toward Aligning Life & Wealth by focusing not just on investment gains, but the important parts of life that create lasting happiness for families.
Michael is a member of the Financial Planning Association and has earned Certified Financial Planner® and Chartered Financial Consultant® credentials. In addition, Michael is frequently looked to as an expert in financial news media and has been featured in various publications, including Barron’s, the Wall Street Journal, Investment News, and Investor’s Business Daily, among others. He was also named one of the 100 Most Influential Advisors by Investopedia.