Continuing our series of profiling leading advisors who are having success with the Black Diamond Wealth Platform, we had the unique pleasure to recently sit down with the leadership team at Johnson & White Wealth Management (JWWM), based in York, PA.
Co-founders and Managing Directors Chris Johnson and Tim White, along with Wealth Advisor Rob Allan shared their unique story and how they are growing their business with the latest advisor technologies.
While JWWM was founded as an independent RIA just a few years ago, the core team of six has been together since the early 2000’s. “We came from a large institution, however as entrepreneurs, we always wanted the opportunity to do it our way and as a result broke away from the large wirehouse setting to form our own independent RIA,” said White.
As part of that focus, JWWM differentiates itself through its focus with a multi-generational time horizon, serving investors who “Value advice, long-term relationships and who delegate and demand accountability.”
This mission has served JWWM’s growth plans well, now managing $165 million in AUM for individuals, along with a few retirement plans. In order to fuel their growth, JWWM is placing a large focus on technology, although their journey was not a smooth one at first.
“When we first broke away, we were so busy getting set up that we made the mistake of adopting an integrated technology bundle,” Johnson noted. “At the time, we ran with it, thinking that it would work as an integrated bundle of reporting, CRM and planning. However, we found that it was not as integrated as promised and we needed a better solution.”
That search for a better solution led the team to Black Diamond.
“Black Diamond stood out immediately through its ability to customize reports – a night and day difference from our previous solution,” noted Allan. “Additionally, Black Diamond was easy to use, and the ability to be able to manipulate the system to pull out the data we needed really made it compelling, and with a very competitive price point, it was a very simple decision.”
For situations where advisors need to be able to do performance reports on the fly, such as when clients would show up unexpectedly, for example, Allan was also sold on the inherent flexibility of the Black Diamond platform.
Looking forward, JWWM is focused on continued growth of the firm, both organically and inorganically. “In order for us to continue to grow, we need scalable technology solutions, systems that integrate with each other,” Johnson said. “With Black Diamond, we have seen a dedicated focus on bringing multiple solutions together and we’re confident they’ll continue to deliver on that promise.”
From a business partnership standpoint, Johnson also appreciated the size and approach of Black Diamond. “We thought in the beginning that Black Diamond would be approachable and receptive to our suggestions on developing the product, and to our delight, we were correct.”
What has really stood out to both Johnson and White is the ability to actively participate in the growth and evolution of the Black Diamond platform. “A few weeks ago, we had the opportunity to join the Black Diamond team in Jacksonville for the first ‘Client Hackathon’ event and it was an impressive experience,” they both agreed. “To be able to communicate directly with the technical analysts and developers and talk to them in detail about how we are using the system is a very unique opportunity. What it shows to us is Black Diamond’s commitment to listening, an extremely valuable aspect of the relationship.”
The JWWM team also appreciated the opportunity to network with other Black Diamond clients at the event. “While the technology is critical to our success, the opportunity to be part of a vibrant community of our peers stands out as something that excites us about our relationship with Black Diamond,” White concluded.
To learn more about Johnson and White Wealth Management, check out their website at http://www.johnsonandwhite.net.