Precedent Wealth Partners, a new Registered Investment Advisor (RIA), is set to launch in Texas with a profit-sharing program that could set a precedent for the industry. The five-person team previously managed over $1 billion in assets at Linscomb & Williams.
According to WealthManagment.com, one of the key features of Precedent's model is a profit-sharing program that will allow all employees to benefit from the firm's success. According to the founders, this program is designed to promote a culture of collaboration and teamwork and ensure that everyone is invested in the firm's success. Under the program, the firm's owners will reserve half of the declared after-tax profits each year to be returned to clients the following year in the form of fee credits and reduced costs.
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