James and Michael’s career paths initially intersected in Scottsdale, Arizona, at one of the largest brokerage firms in the industry. While their experience there accumulated valuable industry knowledge, it became apparent to them that client needs were not always at the forefront of the corporate agenda. “Although the corporate model is a profitable one,” explains James, “it seldom prioritizes the client-advisor relationship in the way we feel clients deserve. This is where we saw an opportunity to make a positive and compelling impact.”
While Michael continued his career for the next decade in Utah, James co-founded his first independent Registered Investment Advisory (RIA) firm in Scottsdale. As James’ RIA business grew, it became evident that it was time to explore a succession plan, which according to CNBC, over 70% of independent advisors do not have in place. James says, “I wanted to bring on a partner who could be trusted to take exceptional care of my family of clients. This person needed to have integrity, compassion, deep industry knowledge, and a zest for life. Having kept in touch with Michael over the years, the answer was obvious, but the path to make it happen wasn’t easy.”
In 2017 the vision for Strada Wealth Advisors began to take shape. “James reached out at a time when I was becoming less and less satisfied with the corporate environment,” said Michael. “I feel like any success I had in that world could mostly be attributed to my ability to connect with clients and build relationships. Unfortunately, that didn’t always align with the firm’s practices.” James and Michael both acknowledged that the most challenging aspects would be embracing and enhancing all the necessary components together – trading, compliance, technology, security, client support – while preserving the client-centric atmosphere which a boutique firm like Strada can provide.
The two partners agree that when people have a united philosophy and a common vision, the path to success becomes exponentially easier and more exciting. In 2019, Michael moved beyond the corporate world, and he and James embarked on the next leg of their journey together to create Strada Wealth Advisors.
Strada Wealth Advisors is the culmination of nearly three decades of experience in the financial services industry. Like most firms, Strada offers numerous investment options and models, but we go beyond simply offering investment solutions — we look for meaningful, long-term relationships.
Some investors choose to work with large corporate firms. That can work for those who don’t mind being just a number or being passed from one rep to another. At Strada, we don’t pat ourselves on the back for just knowing you by name. It’s a key part of our company philosophy to understand the context and circumstances of your lives.
We believe two-way communication is vital in developing a trusting relationship. Clients who trust their advisors naturally give them greater insight into their goals, concerns, struggles, and motivations. When headwinds inevitably come from time to time, facing them with a trusted partner like Strada results in better outcomes. That’s one big reason why we strive to maintain a family office environment for our clients that fosters personal long-term relationships.
Strada is the Italian word for road. We felt this was symbolic of the relationships we have not only with each other, but with our clients. All of us travel different paths, but we ultimately aim to reach the destination of financial security and independence.
The Strada logo represents colorful roads diverging into different paths and eventually merging together. This is emblematic of the founder’s paths and also indicative of our clients’ personal journeys.
Yes, we are fiduciaries. People may hear that term but not fully recognize its importance. As fiduciary investment advisors, we have a legally binding duty to act in the best interest of our clients, not just provide them with products that happen to be suitable for them. Part of the appeal for us to leave the corporate world and become fee-only independent advisors was to leave behind the conflicts of interest that can exist when acting as a broker who works off commissionable products. We pride ourselves on our fiduciary standards.
We’re proud to serve Strada clients all across the country, some of whom have worked with us for over 20 years. The vast majority of our growth has been organic through client referrals. We accept it as a huge compliment that our clients trust us and are confident to recommend us to family and friends.
As fiduciaries at Strada, we believe our success should be the byproduct of addressing and meeting our client’s needs and objectives, not based on product sales. This is why Strada is structured as a fee-only advisory firm and we do not work on commissions.
For years, we’ve been traveling on the Strada of life together with our clients, both financially and personally. Although roads can be smooth and straight, or filled with twists, turns and bumps, they should above all lead to a place of happiness and safety. Leading clients to this destination is our ultimate benchmark, so that Strada Wealth Advisors will be the last stop for our family of clients.