Frequently Asked Questions
Independence
Why did you choose to go independent and start your own firm?
The primary reason we chose to launch Tenet Wealth Partners, LLC* is simple: to better serve our clients at the absolute highest level possible. Nothing matters more to us than serving our clients, period. As an independent firm, we are not subject to any competing obligations or barriers. Our model also allows us the latitude to streamline our focus and devote all resources and time towards enhancing the wealth management client experience.
With the freedom provided by launching our own, independent firm, we have:
- Complete objectivity and freedom to design a truly client-centric service model and experience
- Full access to the most innovative technology and integrated online platform
- Complete financial control of our business to reinvest capital into
- solutions and first-class professionals, enhancing the client experience and service model
- Best-in-class planning and strategic solutions
- Freedom to design a goal-based investment approach and strategy that is disciplined yet versatile and dynamic
- A truly open-architecture platform of client-centric tools, resources, and solutions
- Strategic partnerships that allow us to build and grow the business around our clientele yet provide the size, strength, and resources needed to support our vision
* We own 100% of Tenet Wealth Partners, LLC which is a DBA of Sanctuary Securities, Inc.(Member FINRA, SIPC) and Sanctuary Advisors, LLC an SEC Registered investment Advisor. Many of the solutions we provide are registered products and subject to regulatory governance so therefore we selected Sanctuary, and we are Registered Representatives of Sanctuary Securities Inc. (Member FINRA, SIPC) and Investment Advisor Representatives of Sanctuary Advisors, LLC, an SEC Registered Investment Advisor.
Why wasn’t I told sooner about your decision to launch a new firm?
We absolutely would have liked to discuss our plans with you and asked for your feedback ahead of time. However, legal considerations and contractual restrictions prevented us from doing so. We are committed to respecting and abiding by those covenants as professionals, even though it was incredibly difficult to not have the ability to speak with you beforehand.
What differentiates your new firm, and how will clients benefit?
Our structure and strategic partnerships allow for the enhancement and expansion of many processes, services, technology, and solutions. You will benefit from our new model in a plethora of ways. Please refer to the “DIFFERENCE” section for a description of the ways that Tenet Wealth Partners is distinguished as a wealth management firm.
While the array of services and solutions is expansive at Tenet, our core philosophy of aligning recommended strategies with each client’s specific situation and needs remains steadfast.
Is establishing an independent firm unusual in the wealth management profession?
It is not unusual and is actually more common than you may think. Independence is incredibly appealing to client-centric, fiduciary advisors because it removes corporate barriers that may limit the ability to innovate, enhance, and invest in the client experience.
Additionally, the flexibility and freedom provided by going independent provides greater access to more innovative, open-architecture technology solutions and a broader platform of services and solutions that better align with clients’ wealth management and planning needs.
The movement away from a corporate model to a more client-centric model in the independent space is, and has been, a long-term trend.
Why did you choose Sanctuary Wealth as your strategic partner?
We are able to leverage the technology, tools, and standardized processes available through Sanctuary that help maximize scalability and manage risk so that we can invest time where it matters most—with our clients. Sanctuary provides the required regulatory registrations and compliant platform that delivers a wide array of investment and wealth management solutions we can offer our clients. By partnering with Sanctuary, we will also deliver operational excellence to our clients; have a strong culture of compliance; and offer a robust cybersecurity program, which will safeguard the assets clients entrust to our guidance. Sanctuary also provides us with access to a solid community of like-minded, elite independent financial advisors. Together we share best practices and can tap into the community’s intellectual capital to deliver more specialized expertise to clients.
Are you limited in the geography that you can serve clients?
Absolutely not. While our home base is the Champaign-Urbana community, we can still serve clients across Central Illinois and nationwide.
Custodian
Will my assets and information be safe?
The safety and security of your assets is of supreme importance to us. With that in mind, and after a rigorous due diligence process, we have selected BNY Mellon Pershing as our Custodian. With over $37 trillion in assets under custody, BNY Mellon is the largest custodian in the world by a significant margin.
Beyond their size, financial strength, stability, and reputation, BNY Mellon Pershing’s service model is client-centric, just like us. Also, just like us, they offer a high-touch level of service and maintain a partnership philosophy that is team-based. Our aligned beliefs and values further solidified our decision and instilled a deep level of trust.
Lastly, BNY Mellon’s private banking services and solutions, including best-in-class depository and lending solutions combined with a flexible, open-architecture platform, provided the confidence that we can deliver and implement our client-first service model and approach.
Investing
What is Tenet’s investment philosophy and approach, and how is it differentiated from others?
While we maintain a core philosophy of building a robust, well-diversified portfolio, we are implementing an enhanced approach that is dynamic, innovative, and evolved. Our approach will employ a hybrid method, blending low-cost passive management in more efficient markets with active management in markets that are less efficient.
The foundational component will be long-term and strategic in nature, supporting your core goals, while the allocation to tactical diversifiers allows us to both augment diversification and capitalize on opportunities. We believe this approach combines the best of two strategies that are supported by years of academic and professional research.
Our investment approach will also incorporate the key elements of our value-seeking philosophy, including the management and minimization of taxes, costs, and volatility.
Fiduciary Standard
Are you a fiduciary at your new firm?
Absolutely. We believe that being a fiduciary is not just a legal requirement but a mindset and philosophy that is woven into the fabric of our firm. Our duty to our clients is non-negotiable and sits at the core of who we are as professional advisors.
In fact, we believe independence allows us to elevate our duty to the next level, becoming a true advocate and steward with an even deeper level of care and dedication.
Contact Information
Where are you located and how can I reach the team?
We are located on the 3rd floor of M2 in Downtown Champaign and are excited to welcome guests to our new office (following all necessary social distancing, mask, and sanitizing protocols). For those that are not local, we are happy to provide a virtual tour of our space.
Our address and contact information are as follows:
301 N. Neil Street, Suite 303
Champaign, Il 61820
We invite you to contact us to learn how we can help you build greater value into your financial situation.