In part two of our Meet the Team series, we talk to CEO Trey Ruch, Consultant Adair Moody, and Senior Consultant Thomas Reid. Our Q&A style is designed for you to get to know us better so you can understand our background, experiences, and why we love being a part of the LibertyFi family.
Each person at LibertyFi has spent their careers building and managing their own client relationships. We are an experienced, hands-on group committed to helping RIAs scale and build their businesses by leveraging technology, program administration, and middle-office consulting.
Tell us about your role at LibertyFi and your areas of responsibility.
Trey Ruch: As Managing Member, I spend most of my time focused on business strategy, strategic partnerships, marketing, legal, regulatory, and finance.
Adair Moody: My primary responsibilities include assisting advisors with account specific related items, providing best practices, and general problem resolution. I also provide training for new and existing firms on the onboarding process and service request capabilities.
Thomas Reid: For our firms, I handle all billing administration from end-to-end, including firm setup, fee calculation, collection, and payments. I work with advisors to make sure they fully understand their fees so they can be transparent and clear with their clients. I also help firms with aggregating data for their ADVs and any SEC reporting requests as well as some internal policies and analysis for LibertyFi.
What’s the most important risk you took and why?
Trey: We made several bets about the viability of our business plan. We felt that the same global point-of-service efficiencies that make the software scalable at the practitioner level would allow us to scale our coverage of all the practices that are working with us. Our service delivery and support strategy has worked even better than expected.
How do you keep your teammates motivated?
Trey: LibertyFi is endowed with a group of young and experienced experts (I am the only person in the company that is not in the Millennial club!) who cut their teeth in the cloud-based fintech service delivery space. We are an experienced, talented, successful, and self-directed group of highly motivated professionals, according to our own design! We all knew what we were getting into when we started the company, since many of us worked together building and operating a successfully B2B prototype of LibertyFi for a leading regional NYSE firm.
Adair: The passion each of us have for the service we provide to our firms keeps me motived. We all have similar goals and expectations of our work which keeps us on the same track as we motivate each other.
Thomas: I provide the team with statistical analysis on our firm and our partner firms on a regular basis, highlighting certain items that serve as motivation towards achieving our goals.
How would you describe the culture at LibertyFi?
Thomas: Incredible. Better than any I’ve been around and it’s not even close. Everyone here works very hard and is incredibly driven, but we don’t have any of the toxicity that can sometimes come with that. No one is above doing any certain type of work. During a big conversion, when something needs to get done right away, we all put our heads down and split the work and get it done. We’re all friends and know each other’s spouses and kids well. We have fun together and enjoy being together.
Adair: Unmatched. We have such a unique team and all work really well together. We all have similar work ethic that positions us for success.
What tip do you have for RIAs looking to grow in the coming year?
Adair: Shop for an end-to-end solution, that allows them to streamline their business so that they are able to focus on growth. We’ve all seen the trend of clients utilizing technology more than ever and Envestnet offers a great solution for that.
Trey: COVID-19 accelerated the trendline in terms of raising client expectations about digital access to data, two-way communication, routines, and tools. Take a critical look at how you routinely interact with your clients, from their perspective. Are you behind, moving with, or ahead of the curve?
To learn more about the LibertyFi team, or for help growing your RIA, contact Alli Jordan.