DENVER, June 28, 2017 (GLOBE NEWSWIRE) -- First Ascent Asset Management celebrated its first anniversary as a portfolio strategist serving financial advisors. Launched one year ago this month, First Ascent has garnered new assets, partnerships and industry-wide recognition for its unique $500 flat-fee pricing for advisor accounts, no matter how large, that use First Ascent’s Global Explorer portfolios.
“This has been a fantastic first year as we grow the business and expand our partnerships with advisors and industry leaders to bring innovation and client-centric products to financial services,” said First Ascent CEO Scott MacKillop. “Independent advisors face new challenges and we are excited that First Ascent helps advisors address the challenges they face every day—from downward pressure on advisory fees, to robo-advisors to challenges in scaling their businesses.”
In its first 12 months, First Ascent has:
- Entered into an agreement with Envestnet to sub-advise a series of Envestnet portfolios
- Launched its portfolio offerings and asset management services on several advisor platforms, including Adhesion, Smartleaf, Verity Manager Exchange and the PCS 401(k) platform
- Rolled out flat-fee pricing—calculated on a “cost plus reasonable margin” basis—which has brought advisors working with First Ascent a unique combination of pricing and service
- Released a series of position papers to inform advisors on key industry issues, as well as a series of educational videos to help demystify the world of investing for clients of advisors
- Earned a finalist nomination for the prestigious Wealthmanagement.com Industry Awards for its innovative approach to Turnkey Asset Management Programs
“It has been an exciting year of entrepreneurship, innovation and industry disruption at First Ascent,” said MacKillop. “Our business model has been well received everywhere we have introduced it, including the XY Planning Network Annual Conference and the FPA Retreat and we look forward to sharing more about it with industry leaders this September at the Disrupt Advice conference in New York.
“The investment world is changing rapidly and moving inexorably to a fiduciary business model. We look forward to working alongside our financial advisor partners and supporting them as they continue to grow their businesses and help clients achieve their life goals.”
About First Ascent Asset Management
First Ascent provides outsourced portfolio management services to financial advisors and their clients. The firm’s founder, Scott MacKillop, is a 40-year veteran of the financial services industry and has been providing asset management services to financial advisors for over 25 years. The First Ascent team has over 200 years of experience. First Ascent is a registered investment advisor in the State of Colorado.