Farpointe Wealth Partners is entering an important stage of growth.

With multiple wealth management businesses, continued acquisition activity and a network of affiliated offices, Farpointe has an opportunity to establish a more unified, scalable operating model before its next stage of expansion.

As discussed, the objective is not necessarily to make every Farpointe business operate identically.

Rather, it is to determine where consistency creates efficiency and scale, while preserving differences where they provide value or are operationally necessary.

As Farpointe described it:

“Same where effective, different where necessary.”

Farpointe is also currently completing additional acquisitions while leadership remains focused on transactions, advisors and growth.

As a result, several important operational initiatives have remained in the firm's “parking lot” simply because the internal capacity and specialized resources have not been available to execute them.

Select Advisors Institute will serve as an extension of the Farpointe team, providing the capacity, expertise and implementation support required to move those initiatives forward while creating the foundation for the Farpointe Model Office.

The SAI Core 4

Over the 12-month engagement, SAI will work across four interconnected components of Farpointe's business:

1. PROCESS

Create consistent, efficient and scalable operating processes across Farpointe's businesses.

Review

Our review may encompass:

• Client onboarding

• Prospect-to-client handoffs

• Account opening

• Asset transfers

• Client service workflows

• Client meeting preparation

• Client meeting follow-up

• Service calendars

• Advisor-to-operations handoffs

• Internal task ownership

• Approval and escalation processes

• Asset allocation processes

• Trading and rebalancing

• Money movement

• Documentation standards

• Existing SOPs

• Quality-control procedures

• Recurring operational processes

• Manual and duplicative work

• Workflow automation opportunities

• Processes currently differing between businesses

• Acquisition integration processes

• Tulsa versus existing Farpointe operating practices

• Opportunities to share resources across businesses

• Areas where standardization would create efficiency

A central component of this work will be determining which processes should become standardized across Farpointe and which should appropriately remain different.

Recommend

SAI will develop future-state recommendations that may include:

• Standardized operating workflows

• Model client onboarding

• Client service standards

• Meeting preparation and follow-up processes

• Defined roles and handoffs

• Approval and escalation procedures

• Workflow automation

• Standard operating procedures

• Quality-control processes

• Shared-resource opportunities

• Acquisition integration procedures

• Model Office operating standards

Implement & Train

SAI will work alongside Farpointe to:

• Build agreed-upon workflows

• Develop SOPs

• Create checklists and templates

• Establish ownership

• Implement standardized processes

• Coordinate changes across businesses

• Develop implementation plans

• Train employees on new processes

• Support rollout and adoption

Monitor & Optimize

Following implementation, SAI will monitor adoption, gather feedback, identify bottlenecks and refine processes based on how they operate in practice.

2. PLATFORM

Determine the optimal technology environment within Farpointe's Cetera ecosystem and maximize the capabilities of the platforms selected.

Farpointe operates within a defined technology universe. Certain technology is required by Cetera, while other categories provide multiple approved options. Therefore, the objective is not to search the entire technology marketplace.

Instead, SAI will evaluate the relevant Cetera-approved universe against Farpointe's business requirements and determine which solutions provide the strongest combination of functionality, integration, efficiency and scalability.

Review

Our review may encompass:

• Cetera-required technology

• Cetera-approved third-party solutions

• Current technology stack

• Redtail CRM

• Redtail functionality and utilization

• CRM workflows

• CRM fields and data structure

• CRM adoption

• AdviceWorks integration

• Financial planning technology

• AI tools

• AI note-taking/intake platforms

• Portfolio management systems

• Trading and rebalancing technology

• Client reporting

• Client portals

• Document management

• E-signature

• Scheduling technology

• Communication platforms

• Workflow automation

• System integrations

• Data feeds

• API capabilities

• Data quality

• Reporting and dashboards

• Duplicate technology across businesses

• Technology costs across businesses

• User adoption

• Technology training

• Security and privacy considerations

• Technology scalability for acquisitions

Recommend

Technology recommendations will consider not simply which system has the most functionality, but which solution best fits Farpointe.

For each major decision, SAI may evaluate:

• Available approved options

• Functionality

• Cetera/AdviceWorks integration

• Data feeds

• API capabilities

• Ease of use

• Current utilization

• Implementation requirements

• Training requirements

• Scalability

• Cost

• Benefits of standardization

• Pros and cons of migration

• Operational trade-offs

For example, if Farpointe determines Redtail remains the appropriate CRM, the engagement does not stop with that decision. Farpointe indicated that it may currently be utilizing only approximately 25% of Redtail's capabilities.

SAI would therefore evaluate how the organization can leverage the existing platform substantially more effectively.

Implement & Train

Depending on the agreed-upon solution, SAI may assist with:

• CRM optimization

• Workflow development

• Fields and data structures

• Automation

• System configuration

• Dashboard and reporting development

• Technology rollout

• Vendor coordination

• Data organization

• User documentation

• Employee training

• AI training and adoption

• Technology adoption across businesses

Where specialized development, migration or third-party vendor work is required, SAI will help define requirements and coordinate with the appropriate parties.

Monitor & Optimize

SAI will monitor utilization and adoption following implementation to ensure Farpointe is capturing the intended value from its technology investments.

3. PEOPLE

Build the organizational structure, roles, capacity and accountability required to support Farpointe's increasingly integrated business.

Review

Our review may encompass:

• Organizational structure

• Leadership structure

• Roles and responsibilities

• Reporting relationships

• Staffing and capacity

• Resource sharing between businesses

• Workload allocation

• Role clarity

• Decision-making authority

• Delegation

• Management structure

• Compensation

• Incentive compensation

• Performance expectations

• KPIs

• Accountability

• Hiring needs

• Recruiting

• Employee onboarding

• Training

• Career development

• Succession planning

• Key-person dependencies

• Team communication and meeting cadence

Recommend

SAI may recommend:

• Future-state organizational structure

• Revised roles and responsibilities

• Shared-resource opportunities

• Staffing and hiring plans

• Reporting structures

• Compensation and incentives

• KPIs and scorecards

• Accountability frameworks

• Performance-management processes

• Training plans

• Leadership and management structures

Implement & Train

SAI may assist with:

• Organizational design

• Job descriptions

• Role scorecards

• KPI frameworks

• Compensation plans

• Accountability systems

• Performance-management tools

• Hiring processes

• Training

• Internal rollout

• Management rhythms

• Adoption of revised responsibilities

Monitor & Optimize

SAI will monitor the effectiveness of organizational changes and recommend adjustments as Farpointe continues integrating businesses and adding scale.

4. GROWTH & CLIENT STRATEGY

Ensure Farpointe's growth strategy and client model are positioned to capitalize on the operating infrastructure being built.

Review

Our review may encompass:

• Growth strategy

• Sales process

• Advisor business development

• Prospect journey

• Lead management

• Referral strategy

• COI strategy

• Client acquisition

• Client segmentation

• Service segmentation

• Client experience

• Client journey

• Client retention

• Client communication

• Cross-selling

• Share-of-wallet opportunities

• Pricing and fees

• Service models

• Value proposition

• Firm positioning

• Sales messaging

• Sales training

• Advisor training

• Growth KPIs

• Conversion measurement

Recommend

SAI may develop recommendations related to:

• Growth priorities

• Sales processes

• Referral and COI strategies

• Client segmentation

• Service models

• Pricing

• Cross-selling

• Client experience

• Positioning and messaging

• Advisor business development

• Sales methodology

• Growth KPIs

Implement & Train

SAI may help Farpointe:

• Build sales processes

• Develop prospect and client journeys

• Implement segmentation models

• Develop referral programs

• Build cross-sell processes

• Create messaging and sales tools

• Establish growth KPIs

• Train advisors

• Coach team members

• Implement new client experience standards

Monitor & Optimize

SAI will evaluate adoption and results and refine strategies as Farpointe's operating infrastructure and growth needs evolve.

How We Will Work Together

The SAI Core 4 are not intended to operate sequentially.

Based on our discussions, Process and Platform will represent the initial areas of emphasis, with work occurring simultaneously where appropriate.

People and Growth & Client Strategy will remain part of the engagement and will be addressed as priorities, dependencies and opportunities emerge throughout the year.

This allows SAI to focus first on the areas Farpointe has identified as most urgent while recognizing that the four components are inherently interconnected.

Across each Core, our approach will remain:

REVIEW → RECOMMEND → IMPLEMENT & TRAIN → MONITOR & OPTIMIZE

Timeline

The engagement will commence on a Start Date established by SAI following receipt of Client’s initial payment and completion of the initial onboarding requirements.

SAI will establish and maintain a working roadmap outlining anticipated priorities, sequencing and target timelines for the engagement. Because the nature and timing of the work will depend upon findings, Client priorities, implementation requirements, third-party availability, Cetera requirements and Client responsiveness, the roadmap may be modified throughout the engagement.

The engagement is intended to progress continuously throughout the 12-month term. The 12-month term will not be extended due to delays caused by Client, including delays in providing requested information, system access, feedback, approvals, personnel availability or decisions.

If Client delays prevent SAI from completing or implementing work within the 12-month term, SAI will have no obligation to complete such work after expiration of the term unless the engagement is renewed or otherwise extended in writing.

The End Result: The Farpointe Model Office

The objective is not to make every Farpointe business identical.

It is to establish a common operating foundation where consistency creates value, while maintaining flexibility where differences are appropriate.

At the conclusion of the engagement, the objective is for Farpointe to have:

• More unified processes across its businesses

• Better utilization of shared resources

• A clearly defined technology strategy within the Cetera ecosystem

• Greater utilization of existing technology

• Reduced duplication and unnecessary costs

• More consistent workflows and operating procedures

• Greater organizational capacity and clarity

• A more scalable client experience

• Improved readiness to integrate acquisitions

• A repeatable Model Office framework for continued expansion

Ultimately, SAI's role is to provide the capacity and expertise to move important initiatives out of Farpointe's parking lot and into implementation, allowing leadership to remain focused on acquisitions, advisors and growing the organization. That is exactly how Brian described the value he sees in the relationship.

Engagement Structure & Investment

Engagement: Farpointe Model Office & Business Optimization

Term: 12 Months

Investment:$5,500 per month