Longtime advisors and brothers Harold Williams and George Williams have partnered with Dynasty Financial Partners to launch Precedent Wealth Partners, an independent firm in San Antonio. Also joining them is Grant Williams, the son of Harold, according to a news release.
The team previously managed more than $1 billion in assets at Linscomb & Williams, a Houston-based wealth management firm that was on the Barron's 2022 Top 100 RIA firms list. The brothers had been with the firm since 1995, when they entered the industry. Grant Williams joined in 2016, according to BrokerCheck.
The new firm, whose focused areas are investment management, wealth planning, estate planning, tax strategy, insurance/risk management, and retirement planning, will also introduce a fee-rebate program called ‘WillShare’ that will enable clients to share in the firm’s success, the release said.
“We launched Precedent Wealth Partners largely because we want to partner with our clients by creating an advisory entity that cannot easily be sold. We want our clients to feel they can count on our permanence and alignment with them,” co-founder Harold Williams said in a statement. “Our WillShare program aligns the clients’ interests with that of the owners, as we plan to share 33% of our distributable after-tax net income with our clients, via fee credits every year."
Harold Williams added that the team is looking to expand its message and grow organically rather than focus on growth through acquisition. “We want to be different; we want our clients to feel they are treated like fellow-owners,” he said. He noted that the WillShare program is new in the wealth management space and “will foster that feeling and lay the foundation for an enduring firm which they can count on to stay committed to its principles for many years to come."
The firm has selected Schwab and Fidelity as custodians and will work with eMoney for planning and Black Diamond for performance reporting, the release said.