Elements Unveils RIA Partnership Model to Help Advisors Serve More Clients


Advisors with prospects or clients that have the potential to be good fits but generate little revenue today can now offer a new service through a trusted partner

SALT LAKE CITY, October 31, 2023–(BUSINESS WIRE)–Elements, a modern growth platform that helps financial advisors demonstrate their value faster, today announced the forthcoming launch of Elements Money, a registered investment advisor (RIA) designed for consumers who don’t fit into the traditional wealth management model. Uniquely, Elements will partner and co-brand with financial advisors, enabling them to extend Elements Money as a service option for prospects and clients who aren’t good fits for their businesses today.

This new way of serving clients aims to bridge the gap and provide access to professional financial advice for individuals with modest assets or relatively simple financial situations. It will allow those who may not meet the minimum assets under management (AUM) requirements at traditional wealth management firms to access valuable advice from seasoned financial professionals.

“Elements has developed this creative model in response to advisors’ feedback,” said Reese Harper, CFP, chief executive officer of Elements. “They often want to offer a more affordable, scalable service to clients who don’t fit the usual wealth management mold today but could be great clients some day; however, their time constraints make it really hard to do so. With this in mind, we’ve created a platform where advisors can offer their prospects or clients a more cost-effective option for guidance while still maintaining a presence in the relationship. It’s a mutually beneficial arrangement for advisors because, when these clients have ad-hoc needs that might require more time or specialized expertise (and eventually, a full-time relationship), we refer them back to the advisor. In this sense, Elements is truly a partner to advisors by helping them more efficiently serve and nurture clients they otherwise wouldn’t be able to today.”

Elements Money harnesses the intuitive Elements scorecard and mobile app, streamlining the process for clients to effortlessly provide and translate their financial data. As a result, when Elements refers opportunities to advisors, they can quickly assess the client’s current situation, providing valuable guidance during client meetings without the need for extensive pre-work.

Starting later this year, Elements Money will offer two distinct tracks:

  • The free Basic Membership is designed for individuals who have money questions but aren’t ready to invest in financial advice. This membership level is rooted in trust-building and offers a glimpse into personalized financial guidance. Central to this is the Elements Scorecard app, providing a financial health snapshot alongside a guide explaining the score implications. Upon the completion of onboarding, a video assessment highlights their financial strengths and areas for attention, sparking consideration for expert financial guidance. The membership extends learning through ongoing content distribution containing short-form videos and podcasts tackling common financial queries. Additionally, members can forward their questions and receive video responses via email, contributing to an ever-enriching library accessible to all members. This membership is a stride towards demonstrating the value of financial advice, fostering trust, and ultimately converting engaged free members into a paid advice relationship.

  • The paid Premium Membership is geared toward individuals ready for more financial and investment guidance. It aims to address financial questions, open investment accounts, and hasten the transition to a full-service financial planning relationship with the referring advisor. Upon enrolling, members can receive investment management guidance tailored to their risk profiles, with a dedicated team available for inquiries. A “Chat Anytime” service provides a way to access Elements Money’s CFPs for education, decision-making assistance and second opinions, fostering continuous financial learning. Moreover, the membership facilitates access to a network of advisors where a client can pay a one-time fee to an advisor for ad-hoc needs that might require more time or specialized expertise. Notably, advisors who refer prospects or clients to the membership program will get prime positioning to fulfill these client requests.

To date, there has been a lot of anticipation for this solution; many advisors who use Elements have already indicated they would refer prospects and clients to Elements, demonstrating strong industry interest in this novel approach.

“A common challenge that many advisors face today is finding a suitable place to send a prospect who doesn’t meet their minimum or doesn’t fit in their niche,” Harper added. “We wanted to change that. Now, advisors will have a reliable place to send these consumers. Furthermore, it is a best practice for advisors to periodically refine their client base to make room for more profitable, right-fit clients and improve their client service quality. With this program, advisors can right-size their business without fully terminating those client relationships. At Elements, our ultimate goal is to help provide financial advice to all who want it.”

Financial advisors seeking to learn more can schedule a demo here. Register to attend a webinar about Elements Money on November 14, 2023 at 1 p.m. MT.

About Elements

Elements is financial assessment software for financial professionals to demonstrate their value quickly and get new clients. Financial professionals use Elements to accelerate their business development activities (email, referrals, webinars, workshops, social media) and scale their impact beyond traditional limits. Elements distills the complexity of a potential client’s financial life into simple, comparable, financial ratios that expose the value of professional guidance in a fraction of time. For more, visit getelements.com.

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Allie Zendrian


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