In this edition of InvestmentNewsTV, we sat down with Tom Ruggie, CEO and portfolio manager of Destiny Wealth Partners. Ruggie shared insight into how Destiny Wealth Partners became one of the fastest-growing fee-only Registered Investment Advisers (RIAs) of 2023, and how the firm reached the milestone of managing $1 billion in assets.
By focusing on direct and private investments, Destiny Wealth Partners successfully distinguished itself as a firm providing unique investment opportunities for high net-worth clients. By establishing a family office and providing value-based offerings in both traditional and alternative investments, the firm was able to appeal to high-net-worth clients and ultra-high-net-worth families seeking uniquely tailored investment routes beyond traditional stocks and bonds, venturing into areas like SpaceX, Reddit, and private trusts.
With both regulatory and technological changes affecting the financial industry, Ruggie highlighted some of the ways Destiny Wealth Partners has stayed competitive and ahead of the curve. By embracing new technology and transitioning to a fee-only business model early on, the firm successfully found ways to enhance client services and operational efficiency while still offering its one-of-a-kind personalized service.
When asked about the firm’s core philosophy and approach to business, Ruggie noted, “It's the small things that make the difference. We do a very good job on the small things.” Highlighting the importance Destiny Wealth Partners places on meticulous attention to detail, strategy, and client satisfaction.
To learn more about Tom Ruggie and Destiny Wealth Partners, click here to watch the full interview.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
New Treasury and IRS proposals would let employers add tax-free payroll contributions to the retirement accounts as advisors weigh the fit for client families.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
