What are the unique needs of Savvy clients and how does Savvy tackle the problems that distinguish them from other wealth management firms?

It comes down to the fact that the other wealth management firms that our clients have looked at typically aren’t able to do what we can from two angles.

The first angle is the technology piece: let's call it an efficient and effective communication mechanism. A digital portal can communicate a lot in terms of the existing portfolio, and it can answer a lot of questions for the client, which is a big part of wealth management. Kind of like your financial therapist. The ability for a client to be able to log in and see where their portfolio is at, a list of what’s happening now and what we’re doing in the background for them, the ability to contact their advisor at any time, receive automatic updates vs only get them on quarterly performance calls. That technology enablement and digital access is a huge part,  because people expect this level of access and communication now.

The second angle is that many of these clients, whether they know it or not, are looking for holistic planning. They don't want someone that's going to do only investment management. They want someone who thinks about taxes, estate planning, trusts—all of those pieces through one holistic lens. The forward-looking vision for Savvy is that we would eventually consolidate  all of these, whether it's through communication or the acquisition of some of these other service providers. A lot of the smaller, sub-$1B AUM firms aren’t able to provide an all-in-one solution from a cost perspective, and they usually have to refer clients out to other service providers. That’s a little more forward-looking, but it’s a core pain point that we’ve found.