In this episode of the RIA Edge Podcast, host David Armstrong speaks with Andrea Broughton, CEO and founder of WealthCrossing, about the firm’s growth from an Ernst & Young spinout to a $1.5 billion RIA. Andrea shares how the firm grew through client referrals, built tax planning into its client experience, and recently expanded its growth strategy through branding and digital marketing.

The conversation explores WealthCrossing’s approach to financial planning and tax strategy, its recent rebrand, talent development, growth initiatives, estate planning and its evaluation of emerging technologies, such as artificial intelligence, while maintaining a strong focus on client service.

Key takeaways:

How WealthCrossing spun out of Ernst & Young 21 years ago in response to Sarbanes-Oxley regulations, and grew to $1.5 billion in assets without relying on acquisitions.
How the firm’s tax-centric approach to financial planning plays out in its hiring decisions and its team-based approach to each client.
What drove the firm’s decision to outsource tax preparation eight years ago, and then bring it back in-house five years later.
Why after operating for 19 years without one, WealthCrossing partnered with a marketing firm, rebranded as “SBK Financial” and created a surprisingly high percentage of new client leads through digital channels.
Why Broughton and her team are taking a more cautious stance than many peers regarding AI integration into their technology stack, even while she personally uses AI tools for administrative tasks and individual productivity.

Resources:

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About Our Guest:

As CEO and founder of WealthCrossing, Andrea leads the strategic vision and operational oversight of the firm. She specializes in delivering integrated financial services, including investment advisory, tax strategy, retirement, estate, and other financial planning services tailored to high-net-worth individuals and executives. Andrea is known for her client-focused approach, providing services that align with each individual’s goals and aspirations.

Prior to forming WealthCrossing, Andrea worked in the financial counseling practice at Ernst & Young, spending more than 10 years in Ernst & Young’s Boston and Richmond offices. Early in her Ernst & Young career, Andrea audited a number of Fortune 500 companies and mutual funds. She believes her prior work as an auditor has been invaluable, allowing her to look behind the numbers in evaluating investment and business opportunities for the clients’ benefit.

A magna cum laude graduate of Babson College with a Bachelor of Science in Business Administration, Andrea is also a Certified Public Accountant. She is deeply engaged in her Richmond community, serving as a current Board Member and former President of the Brookfield Foundation.

Outside of work Andrea enjoys playing tennis and spending time with her family.