Joseph Spada considers himself a perpetual student of the financial advisory industry. When asked what has been one of the most gratifying aspects of being a senior private wealth advisor at Parsippany, New Jersey-based Summit Financial, he replies it’s the trust that’s earned from working with clients.
“In a world where it's very difficult to find people you can trust, my clients give me the benefit of doubt,” he says. “When we think about what important areas are to clients, it’s their family, it's their health, it's their spirituality, and finances. We’re blessed to work in one of those very important areas for clients. They give us the benefit of doubt, and we have to earn their trust over time.”
Spada highlights he never plans on retiring because he loves to help people – in fact, it’s what he says he’s best at doing. Many others agree, hence being named an InvestmentNews Awards 2024 Excellence Awardee, with the winners announced on June 20 at 583 Park Avenue, New York City in a glitzy, red carpet ceremony. Click here to register to attend.
Despite financial insecurity being prevalent in his formative years, he says he never considered becoming a financial advisor until after college. “To think that I ended up in a profession where I help people avoid being in that circumstance really wasn't the plan, but it was interesting how that worked out,” he says.
Spada noted his passion is creating enhanced wealth outcomes for his clients and educating them on how skillfully blending alternatives into their allocations can increase diversification, reduce volatility, and enhance returns.
“Advisors don't recommend alts because they haven't taken the time to study and educate themselves on how they work,” he said. “Holistic planning is how we do business. If you don't do it holistically, you're just not going to get the best results.”
A House bill could stop the SEC from blocking closed-end funds' private fund investments.
The new regional leader brings nearly 25 years of experience as the firm seeks to tap a complex and evolving market.
The latest updates to its recordkeeping platform, including a solution originally developed for one large 20,000-advisor client, take aim at the small to medium-sized business space.
David Lau, founder and CEO of DPL Financial Partners, explains how the RIA boom and product innovation has fueled a slow-burn growth story in annuities.
Crypto investor argues the federal agency's probe, upheld by a federal appeals court, would "strip millions of Americans of meaningful privacy protections."
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
