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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 finances and creating customized plans that speak to their long-term goals and values. Access to a vetted list of professionals in the fields of health, nutrition, travel and family dynamics is part of the value proposition at Conway. Their personalized focus on each client has driven significant growth in recent years and allowed the firm to make a major investment in its fintech development with Seeds Investor, an investment platform that facilitates conversations with clients and gives advisors a path to deeper and more meaningful portfolios and financial plans.
Specifically, David and Michael discuss:
- Conway Wealth focuses on uncovering each client's motivations and priorities and seeks to tailor a personalized plan that goes beyond investments to address their long-term life goals.
- How the firm formalized its Life & Wealth Network, created 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 economy of using a network partner versus bringing services in-house.
- Metrics Michael watches closely to ensure the firm is running efficiently and to flag capacity issues before they negatively impact the customer experience.
- The decision to build their own independent investment platform, Seeds Investor, to bring client values and priorities to planning discussions and building custom portfolios.
Sources:
Connect with David Armstrong:
Connect with Michael Conway:
LinkedIn: Michael Conway
About our guest:
Michael Conway is the founder and CEO of Conway Wealth Group, a leading independent financial planning and advisory group. He is also a shareholder of Summit Financial, LLC.
As a successful and respected financial advisor, Michael has spent more than 30 years building his practice and providing clients with specialized solutions that combine 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 guiding clients toward Life and Wealth Alignment by focusing not only on investment returns, but on the important parts of life that create lasting happiness for families.
Michael is a member of the Financial Planning Association and has earned the Certified Financial Planner® and Chartered Financial Consultant® credentials. In addition, Michael is often seen as an expert in the financial news media and has been featured in various publications, including Barron's, 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.