Financial advisors team up to launch the 1st RIA co-op platform, Avise Financial

By Press Release

Los Angeles, CA – January 10, 2024 – Financial advisors and co-founders Katrina Soelter, CFP® and Leighann Miko, CFP® today announced the launch of Avise Financial (Avise), the industry’s first and only RIA co-operative platform that puts ownership back where it belongs – in the hands of advisors.

Available to Certified Financial Planners™ nationwide, the virtual platform streamlines business administration so advisors can better support clients and diversify their impact, all while retaining full ownership of their firm.

“The financial advising profession is ripe for disruption,” shared Soelter. “Recognizing the delicate nature of the succession process and having personally experienced the burnout that comes with running our own RIA business, we were keenly aware of the immense potential that lay before us. As advisors and successors, we saw a remarkable opportunity to make a difference for other advisors and for the future of our industry.”

According to Cerulli’s U.S. RIA Marketplace 2023 report, 37.3% of advisors at RIAs anticipate retiring or taking a major step back from their businesses within the next 10 years, which would result in 35.2% of channel assets being in transition. Moreover, increasing diversity and representation in the profession remains a priority.

“Today, too many RIAs pay high fees to vendors and partners to operate their businesses, impacting their bottom line and prohibiting their ability to work with clients that fill their soul,” added Miko. “We’re focused on tapping into that potential by incorporating a residency program in our first year of operation to help improve both diversity and capacity in the industry.”

With a shared services/shared workload mantra, Avise breaks the economic mold of traditional businesses, empowering both younger advisors and those who feel like they don’t have the time they want to spend with their clients. Avise platform users become member-owners who are afforded one vote each, creating an equal playing field and allowing Avise to harness the ingenuity of all advisors, regardless of their AUM or size. Further, the community of like-minded advisors on the Avise platform creates inherent partnership and succession opportunities.

“Avise is the platform I always knew I needed but never knew existed. I started my firm to spend more time working with my clients, but I feared that more of my energy would be consumed by compliance and operations tasks,” said David Tassone, MBA, CFP®, Principal of Solidi Wealth Advisors, and the first advisor on the Avise platform. “Leighann and Katrina have the perfect combination of industry experience and passion to support me on my journey, and I am confident they are the right team to help me better serve my clients and grow my business.”