January 30, 2024

Navigating the Advisor’s Journey to Independence With Chuck Failla (Ep. 452)

33 minutes

If you’re considering breaking free and going the independent route, this episode is a can’t-miss.

Matt Halloran talks to Chuck Failla, the Founder and CEO of Sovereign Financial Group, about the world of independent financial advising. Discover the power of independence in serving clients without constraints, explore his unique cooperative-like structure supporting advisors, and learn how good old-fashioned mailers are driving growth.

Matt and Chuck discuss:

The ways in which Sovereign Financial Group is more like a cooperative than a traditional broker-dealer

How to incentivize your compliance team to say ‘yes’

Why targeting 401(k)s that “suck” can be a powerful marketing technique

The story behind the creation of goRIA, and the role of educational marketing

The three core businesses that will allow Sovereign to scale without having to take on more than their cap of 40 advisors

And more

Resources:

Top Advisor Marketing Podcast: The Expert Guide to Breaking Up with Your Broker-Dealer with Alanah Phillips (Ep. 446)

Website: Argus Media

Website: Efficient Market Hypothesis

Website: Newport Group

Website: goRIA

Website: Nitrogen Wealth (formerly Riskalyze)

Service: eMoney

Service: RightCapital

Service: NaviPlan

Service: MoneyGuidePro

Connect with Chuck Failla:

LinkedIn: Chuck Failla

Website: Sovereign Financial Group

Facebook: Sovereign Financial Group

Twitter: Sovereign Financial Group

Connect with ProudMouth:

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ProudMouth

LinkedIn: Matt Halloran

Twitter: Matt Halloran

LinkedIn: ProudMouth

Facebook: ProudMouth

Twitter: ProudMouth

YouTube: ProudMouth

About Chuck Failla:

Chuck has been a financial advisor for more than 25 years. He started in the early 90s as a “cold calling cowboy” in NYC selling individual stocks. As he built his book, he always planned to go independent and did so in 1999 by opening an independent branch of Raymond James Financial. At that time, Chuck earned his CFP® designation and transitioned from individual stock picking to financial planning and asset allocation using mutual funds and SMAs. Chuck’s practice evolved into what is today Sovereign Financial Group, Inc., an SEC registered RIA. With offices and advisors in the Northeast, Florida, and Colorado, Sovereign is one of the fastest growing RIAs in the country. Chuck is also the Director of Sovereign Advisor Solutions (SAS)– a division of Sovereign Financial Group, Inc. SAS helps advisors transition to RIA by offering a comprehensive plug and play solution for going independent. Chuck’s ties to the financial planning community run deep. He currently serves on the Board of Directors for the FPA of Connecticut and Chairs their Pro Bono / Public Outreach Committee.

Chuck received his degree in Finance from The University of Connecticut and completed his coursework for the CFP® certification with The American College. He resides in Connecticut with his wife, two children, black lab and cats. In his spare time, he enjoys all things travel & outdoors — on the weekends you will find him with his family hiking, camping, skiing, boating or just enjoying some grilling in the backyard.

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