‘The only Regret I Have Is that I Didn’t Do It Sooner’: Vardhan Wealth CEO on Going RIA

Why It Matters

The successful transition demonstrates how fiduciary positioning, tech integration, and autonomy can drive rapid client retention and asset growth for advisors leaving wirehouses, signaling a broader industry shift toward independent RIAs.

Key Takeaways

• Vardhan retained 95‑97% of UBS clients within four months
• AUM doubled to over $600 million since 2021
• Affiliated with Summit Financial for aggressive technology stack
• Team grew from four to seven advisors, another joining soon
• CEO cites fiduciary status and tax benefits as key motivators

Pulse Analysis

The wealth‑management industry is witnessing a steady exodus from traditional wirehouses to independent registered investment advisors (RIAs). Advisors cite greater autonomy, the ability to structure compensation, and tax advantages of 1099 status as primary drivers. Monish Verma’s move from UBS, where he spent over a decade, to launch Vardhan Wealth Management in May 2021 exemplifies this trend. By shedding the constraints of a W‑2 employment model, Verma gained control over team composition and strategic direction, positioning his firm to respond quickly to market shifts and client needs.

Retaining existing clients is the litmus test for any RIA spin‑off, and Vardhan’s results are striking. Within four months the firm migrated 95‑97 % of Verma’s UBS book, climbing to 115 % of the original client base after eight months as referrals and deeper wallet share took hold. The transition was anchored by a clear fiduciary narrative; clients recognized the formal duty to act in their best interest, which translated into higher loyalty and new business. Such client‑centric positioning underscores why many advisors view the fiduciary label as a competitive advantage.

Technology has become a decisive factor in the RIA playbook, and Vardhan’s alliance with Summit Financial illustrates that reality. Summit’s aggressive tech stack—centered on Salesforce for CRM, eMoney for planning, and Addepar for aggregation—allowed the fledgling firm to scale operations without heavy legacy overhead. The seamless integration accelerated Vardhan’s asset growth, now exceeding $600 million AUM, and enabled a staff expansion from four to seven advisors, with more hires on the horizon. As Verma eyes acquisitions of practices with $100 million‑plus assets, the combination of fiduciary credibility and robust tech infrastructure will likely shape the next wave of independent advisory growth.