Introducing Milestone Rewards

This morning we launched a major new initiative for our clients that we’re really excited about. I’ll have a lot more to say on the topic later, for now, the official press release, via PR Newswire:

Ritholtz Wealth Management Celebrates Second Anniversary with a Reward for its Clients

Investment advisory firm launches groundbreaking initiative to recognize the prudent behavior and long-term outlook of its customers

Ritholtz Wealth Management, a New York-based Registered Investment Advisory (PRNewsFoto/Ritholtz Wealth Management)

Ritholtz Wealth Management, a New York-based Registered Investment Advisory (PRNewsFoto/Ritholtz Wealth Management)

The firm, serving high net worth households, corporate retirement plans, endowments and charitable foundations across America, has launched this program in order to recognize the determination and tenacity of its clientele in maintaining a long-term outlook.

Milestone Rewards was inspired by an article written by long-time Wall Street Journal columnist Jason Zweig. In his June 5, 2015piece, Why Mutual Funds Should Pay Investors for Loyalty, Zweig laments the ever-shrinking holding period for mutual fund investments, which currently stands at an average of just four years. He notes that the investment management industry currently does little to change this state of affairs:

One possible way to encourage greater patience: loyalty points like those common in other industries. Your supermarket and drugstore and bank and gas station offer you points or loyalty discounts. Even airlines—which shoehorn you into a cramped seat and feed you little bags of stale peanuts—give frequent-flier miles. Yet most money managers do almost nothing to show their appreciation for investors’ loyalty.

Zweig goes on to cite research about financial advisors indicating that “very few—if any—offer lower fees for clients who stay put for years on end.”

“Jason’s article was a eureka moment for us,” according to Joshua M. Brown, CEO and co-founder of Ritholtz Wealth Management. “We constantly preach the message that behavior is the most important determinant of investment success over the long term. The ability to stick with a sensible strategy will have a greater effect on future outcomes than the state of the economy, level of interest rates, valuation of the stock market or fund selection.”

Barry Ritholtz, Chairman and Chief Investment Officer, believes that offering Milestone Rewards to clients who remain invested with the firm’s portfolios for more than three years helps reinforce the kind of behavior that produces successful results. “We’re putting our money where our mouth is. This initiative will be a cost for us in the short run, but over time we believe the tangible positive impact for the clients we serve will be tremendous.” The program acknowledges the commitment to good behavior and prudence that investors must maintain in order to be successful, according to Mr. Ritholtz.

Mr. Brown echoed this sentiment, saying “We’re always seeking to align the best interests of our clients with the future prosperity of our firm. When this idea to reward our clients for their persistence came up in an employee meeting, every single head in the room was nodding.”

Effective immediately, all Ritholtz Wealth Management clients are eligible for the lowered management fee upon the completion of their 36th month with the firm. This reduction in management fees will result in approximately 16% average annual savings for clients, according to internal calculations.

About Ritholtz Wealth Management
Ritholtz Wealth Management is a national Registered Investment Advisory firm based in New York City. Ritholtz Wealth offers a full suite of financial planning and asset management services to high net worth households, corporate retirement plans, endowments and charitable foundations. The firm’s core principle is bringing value-added investment and financial planning help to its clients as a fee-only fiduciary advisor. For more information, please visit and follow us on Twitter @ritholtzwealth

SOURCE Ritholtz Wealth Management


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