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SOURCE: FiComm Partners, LLC
Business model expands to include powerful new client acquisition approach, advisor middle office, and a unique advisor acquisition model. MNFA formally partners with Dynamic Wealth Advisors, CEO Jim Cannon appointed as a Corporate Advisor. Moves lay groundwork for a planned M&A strategy.
Santa Barbara, CA (PRWEB) December 12, 2012
My New Financial Advisor (“MNFA”), an online wealth advisory firm for Baby Boomers, today announced the appointment of former Experian executive David Cantrell as President & Chief Operating Officer. As part of the firm’s growth strategy, it has entered into a strategic partnership with Dynamic Wealth Advisors (“DWA”), an RIA servicing independent advisors, and together both firms will launch a unique advisor acquisition model. Jim Cannon, DWA’s CEO will join MNFA as a Corporate Advisor.
Mr. Cantrell joins MNFA as President & COO, replacing Frank Troise, who will remain on as CEO. Mr. Cantrell has a distinguished career in lead generation from Experian Interactive where he was a General Manager for LowerMyBills.com and ClassesUSA. He was part of the leadership team that built LowerMyBills.com, which was later sold to Experian for $330 million.
“We introduced FreeRetirementReport.com as “FreeCreditReport.com meets 1-800-DENTIST for advisors,” and now with David we have the management and founders of each as part of MNFA,” said Frank Troise, MNFA's Founder. “I am excited to have David and Jim on board to help lead MNFA to the next level. With MNFA’s strategic partnership with Dynamic Wealth Advisors we can now deepen our strategic involvement with proven advisors who can successfully close business.”
“FreeRetirementReport.com clearly resonates with Baby Boomers and is an effortless way for these people to get the answers they need when it comes to financial planning and the local advisors they want,” said David Cantrell, President & COO of MNFA. “We see this as just one of many offerings to come in the next year.”
As part of MNFA’s partnership with Dynamic Wealth Advisors, the two firms will enter into a revenue sharing agreement for all clients acquired on behalf of DWA through MNFA’s client acquisition platform. In addition, both firms will launch an advisor acquisition platform which consists of an option structure wherein an advisor’s fee-based business could be acquired for as much as three times in cash. This has already created a pipeline of advisor acquisition deals that are expected to close shortly.
MNFA’s lead product, FreeRetirementReport.com, has already garnered more than $1.4 billion in client prospects since its CNBC launch on April 2012 and over 1,600 mass affluent Baby Boomer referrals. DWA’s existing custodial relationships with Schwab, TD Ameritrade, and Fidelity create a seamless transition for new Baby Boomer prospects to be affiliated with an advisor on the leading custodial platforms. In addition, DWA will provide MNFA advisors, and affiliates, with middle office capabilities.
“Our partnership with MNFA provides financial advisors with three critical things - a proven business development platform, an established middle office, and a defined exit option,” said Jim Cannon of DWA. “In today’s market, the decision could not be any easier for the advisor to make.”
About My New Financial Advisor
My New Financial Advisor is dedicated to meeting the needs of today’s Baby Boomer by providing them what they need: Free Financial Healthcare. The FreeRetirementReport.com offering gives Baby Boomers the same high quality analysis available to ultra-high-net-worth individuals. MNFA’s innovative turn-key solution for financial advisors combines proven financial analysis tools, online and affiliate marketing technology and performance based marketing techniques to connect Baby Boomers and financial advisors immediately on a massive national scale. Visit http://www.mynewfinancialadvisor.com for more company information.
About Dynamic Wealth Advisors
Dynamic Wealth Advisors is a practice development firm servicing independently owned advisory practices throughout the U.S. DWA offers complete turn-key as well as á la carte RIA services, including back and middle office services, integrated technology and wealth management platforms, multiple custodians, compliance services and other open source advisory products and services. The firm manages all the operational and administrative functions for growing advisors and RIA firms. Individual advisors affiliated with DWA enjoy the benefit of focusing on their clients and developing new business. Established RIAs benefit from DWA’s back and middle office services, wealth management platforms, enterprise relationships and pricing, and the efficiency and scale of DWA’s services and platform. For more information: http://dynamicwealthadvisors.com.
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