According to WealthManagement.com, three financial advisors who departed Edward Jones in 2023 have founded Uptick Partners, a new platform designed to help other advisors transition from captive broker-dealers to independents.

The three have established Holistic Planning in Nacogdoches, Texas, managing around $462 million in client assets. They aim to leverage their experience with the challenges of leaving a non-protocol, captive broker-dealer like Edward Jones to assist others in similar transitions.

Holistic Planning operates as an investment adviser representative of Uptick, and others joining Uptick will come under its ADV. Although not limited to Edward Jones's advisors, the founders expect many recruits from the firm due to their extensive knowledge of its transition intricacies. They plan to target small-town advisors seeking to leave non-protocol firms.

WealthManagement.com reports that Uptick offers a comprehensive support package, including transition assistance, a technology stack, operational back-office support, human resources, billing, marketing, and legal and compliance services. Advisors retain 100 percent of their book of business and receive a 95 percent payout, with Uptick charging a platform fee between five and 10 basis points, decreasing with higher asset levels.

The technology stack features a customized version of Advyzon and includes tools like Nitrogen, Right Capital, MoneyGuidePro, Presults, and Holistiplan. Uptick primarily uses Pershing as its custodian, with some assets held at Schwab and Altruist. Pershing was chosen for its in-person DocuSign capabilities, which accommodate clients in small towns who may not have email addresses for electronic document signing.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.