Matthew Mondoux, Partner and Senior Financial Advisor at Blue Chip Partners, joined Keith Black, Managing Director of RIA Channel, to discuss how fintech can deepen advisor insights.
Blue Chip Partners had long been known for its in-house investment committee focused on investing in stocks with growing dividends. During the COVID-induced market downturn in 2020, the committee added some non-dividend paying stocks, such as Google, to client portfolios, which was additive to returns in the subsequent years.
At Blue Chip Partners, advisors are encouraged to earn the CFP credential. Senior advisors mentor junior advisors, with two advisors working on each client account. This provides better service to the client and helps grow the talent and experience of junior advisors.
The firm is a believer in using fintech solutions to add to the client experience. For example, Blue Chip Partners uses eMoney financial planning software to model Roth conversions. While down markets are a great time to implement a Roth IRA conversion, planning the move before the markets turn lower makes sense. Using software to generate investment and tax-related scenarios can help start client conversations.
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