Practice Intel announced the launch of its growth platform, which provides insights and tools to help advisors improve advice quality and increase valuations. The platform includes advisor development resources, embedded growth valuations, research capabilities and AI-driven insights.
The firm’s leadership team comprises executives from fintech, business, academia and financial services including Succession Link, Charles Schwab, eMoney, J.D. Power and Disney. Led by Tom Rieman, Founding Partner and CEO, the team includes Preston Cherry, Co-Founder and Chief Evangelist; Kathy Cottrell, Co-Founder and Chief of Staff; Larry Shumbres, President; Nicholas Gudz, Chief Growth Officer; and Andrew J. Evans, Chief Experience Officer.
Rieman said, “Practice Intel’s advisors will know with certainty what their clients think about their advice. We provide an irrefutable moment of truth to motivate change and illuminate the path to delivering a great advice experience and create more value for their practice.”
“The common narrative in our industry is that we can’t readily replicate the best advisors,” Rieman continued. “But we’ve cracked the code by understanding both the strategic drivers of an ideal advice experience and the mechanisms to accelerate their adoption. By providing a model for success, guidance on execution, and the ability to measure progress, we can help experienced advisors up their game and reduce future advisors’ learning curves by years.”
The firm developed a proprietary Relationship Quality Index (RQI) that measures the quality of client relationships.
Gudz said, “Every advisor should know their number. Their RQI score is a direct reflection of their value proposition and the value of their practice.”
“I’m drawn to Practice Intel’s mission because, when executed thoughtfully, the advice experience can be truly transformative for both clients and advisors,” said Cherry. “As advisors, we have the potential to make a significant impact on our communities. Comprehensive advice provides individuals with a better grasp of their financial well-being, leading to success defined on their terms. Additionally, as our referral networks grow through advocacy, we can extend our help to more people, amplifying our positive influence.”
Rieman first spoke with WSR about Practice Intel during the Future Proof Festival last month in Huntington Beach, California.
James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.
