50+ Employees

5

MRA Associates

Overall Ranking10

Employees54 Firm TypeRIA CEO and Managing PartnerMark Feldman LocationPhoenix Primary CustodianSchwab Advisor Services

Overall Ranking10

Employees54 Firm TypeRIA CEO and Managing PartnerMark Feldman LocationPhoenix Primary CustodianSchwab Advisor Services

When Mark Feldman joined MRA Associates in 2012 as CEO, he and the other partner had a definite vision for the organization’s sustainability.

When Mark Feldman joined MRA Associates in 2012 as CEO, he and the other partner had a definite vision for the organization’s sustainability.

“We decided that this should be a firm that doesn’t require a third-party transaction to monetize the shareholders,” he said. “We decided to build something for internal succession.”

As a result, Mr. Feldman and his team created an operating model that provides every financial adviser and high-performing professional an opportunity to become a shareholder. Financing was secured to enable the younger partners to buy into the practice. Since 2012, there have been 10 new partners.

The firm would not be able to attract and retain its talent without this program, he said. Other ripple effects include:

• Increased client satisfaction because low turnover means stable service relationships.

• Introduction of a formal and substantive mentoring program.

• Growth of a multigenerational team to serve a multigenerational clientele.

Another forward-looking strategy is the company’s inclusive decision-making structure, in which a 16-person management committee oversees running the firm. It gives more people an understanding of how the business operates, and sets up a structure for future growth, Mr. Feldman said.

— Deborah Nason

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