A new challenger has entered the RIA space, and it’s focusing its efforts on the unique needs of advisors looking to break away from captive broker-dealers.
Uptick Partners, branding itself as the "Bridge Builder to Independence," has officially launched its RIA platform aimed at advisors seeking independence from captive broker-dealers.
Founded by industry veterans Steve Barber, Jason Barber, and Taylor Pankratz, formerly of Edward Jones, Uptick Partners has spent the past year developing its platform to better serve advisors. The firm emphasizes a comprehensive support system to address the challenges and nuances faced by advisors transitioning to an RIA model.
The concept for Uptick Partners emerged from the founders' own experiences transitioning from Edward Jones. Having gained an appreciation of the complexities of the RIA transition, the founders recognized the need for a support platform tailored to these specific challenges.
“We experienced firsthand the transformative impact of transitioning to independence,” Taylor Pankratz, co-founder said in a statement, calling the launch of Uptick “a natural progression.”
The firm is taking its first official step as a platform for breakaways by welcoming Jonathan Dvorak, who previously managed $275 million in client assets during his 14-year tenure at Edward Jones. With his decision to join Uptick, he’s launching his own eponymous independent practice, Dvorak Financial Planning, in Cullman, Alabama.
“We are excited to welcome Jonathan Dvorak to Uptick Partners,” Jason Barber, Uptick co-founder said in a statement.
“Jonathan's expertise and dedication to his clients align perfectly with our mission of enabling advisors to deliver the highest standard of personalized financial planning and investment management,” Barber said.
It’s still early days, but Uptick Partners’ record in helping advisors transition has been impressive so far with an average of 90 percent of assets moved in the first year. The firm also offers a 95 percent gross payout, a modern technology platform, and a growth-oriented culture.
Beyond being professionally risky, the leap to independence has proven costly for many advisors, who are giving up lucrative recruitment bonuses from competing firms and taking on more heavy lifting as they hang up their own shingles independently.
“Now, we’re eager to help others [adopt our framework] and create better outcomes for their clients, too,” Pankatz said.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
