Westcott Associates introduces new Video division- Media Stream Productions

August 15, 2021

Westcott Associates opened a new social media business; Media Stream Productions.  It’s objective is to provide businesses with profession video/media/animation services to leverage the growing popularity of advertising  platforms like YouTube, Instagram, Google and Facebook.

“We have long recognized that traditional print advertising is too expensive and inefficient.,” said David Westcott, President of Westcott Associates.  “If you produce high quality media content demonstrating your company’s core competencies, they can be used across your website, social media platforms or emailed directly to your clients and prospects.”

To demonstrate the effectiveness of this approach, Westcott Associates just completed a short video for Shattemuc Yacht Club.   Click Here.

“The results have been dramatic and impressive,” said Westcott.

Westcott believes companies shy away from video because they believe production is expensive and too complicated to produce.  Westcott Associates is demonstrating that media can be created quickly and within traditional marketing budgets.



Westcott Associates and The RIA Works announce a Strategic Partnership

Financial Advisor Transition, Marketing and Consulting Services

NEW YORK, NY, October 1, 2019 – Westcott Associates & The RIA Works announced today that they will combine their experienced teams in a strategic partnership to provide transition, marketing and consulting services to financial advisor teams and individuals. Working with a select group of advisors, The RIA Works and Westcott Associates have launched more than 75 firms together and separately.

“I founded The RIA Works two years ago and ever since we have been running to keep up with our amazing growth,” said Becca Knauss, Founder and CEO of The RIA Works®, which is based in Chicago, Illinois. “I believe this strategic partnership with Westcott Associates, along with others, will help us provide more of the quality services RIAs and advisors are looking for.”

Based in Bedford Corners, NY, Westcott Associates is celebrating its ninth year in business. President and CMO David Westcott sees this as the evolution of his 25-year career in financial services.

“Combining Westcott’s marketing expertise with the transition and consulting businesses of The RIA Works will enable advisors to find a one-stop shop to help them transition to independence or take their business to the next level, without sacrificing ownership or control,” said Westcott

Both Knauss and Westcott worked together at Dynasty Financial Partners and Sanctuary Wealth in their critical first years of business. In addition, Knauss worked at High Tower as they developed their business models.

“We were both there at the beginning of the real growth phase of the RIA Industry and understand its strengths and weaknesses,” said Westcott. “It’s hard to find people with our experience in the industry, so it’s natural for advisor teams to call on us to guide them towards independence.”

“My work at High Tower, Dynasty and many other firms taught me that transitioning to independence, or any one of the ten or so models, can be a complicated process,” said Knauss. “It should be carefully thought out before an advisor makes a choice. It is our job to help them choose the right path and make their transition as smooth as possible.”

The combined strength of the firm will offer complete transition, marketing, PR, writing, video and consulting services for advisors considering transitioning their businesses or growing existing businesses.

More information about the services offered by Westcott Associates or The RIA Works can be found www.theriaworks.com or www.westcottamm.com

About Westcott Associates Marketing & Media ®

Westcott Associates is a boutique marketing firm founded in 2010. It specializes in marketing, digital media and communications for financial services firms and professionals. The firm’s extensive knowledge of this industry draws upon years of working with financial advisors, RIAs, brokerdealers, and firms of all sizes. This strong foundation sets Westcott apart from its competitors who are often less familiar with the sophisticated work advisors do for their clients.

About The RIA Works®

The RIA Works was founded in 2017 with a focus on three services: The RIA EDGE, which focuses on all forms of transitions such as wirehouse and broker dealer breakaways, breaks from aggregators or existing RIAs, to splitting from an existing team, and additional services including due diligence, planning and execution. The RIA NEXT focuses on an ongoing operational and advice support model, focusing on best practices, workflows and on overall outsources COO. The RIA TRAJECTORY provides guidance’s around acquisition, M&A, resource partners and integrated services.

The RIA Works

345 N. LaSalle DR. #4201

Chicago, IL 60654




Westcott Associates

1 Cliffside Lane

Bedford Corners, New York 10549

(914) 672-0892

(914) 241-2347



The Age of Enlightenment – Advisor Independence began in the Wirehouses

Some thirty years ago, the President of Smith Barney, Joe Plumeri, II, was speaking to about 500 of the firm’s top Financial Consultants (advisors) at an offsite meeting when he said the following things to them:

  • It’s your business, no one else’s.
  • What makes your business grow is your passion and commitment to what you do for your clients
  • Our products are commodities; stocks, bonds, mutual funds, you can get them anywhere, but what makes them different is your heart and dedication to always doing what is right by our clients. They depend on you and no one else.
  • To be successful, you have to think and act like entrepreneurs. It’s your reputation that’s on the line every day, not the reputation of this firm.

At the time, I didn’t realize he was telling us his vision for an independent Advisor, not a financial consultant. I listened intently to what he said and thought he was either very brave or very stupid, because in the early 1990s, the wirehouses had all the power and even the top “brokers” were employees that were set-up by the large brokerage firms to sell products to their clients.  I was sure that no one at Primerica or Travelers or later Citigroup truly believed that their consultants were any more than highly paid employees and that Joe was considered a heretic for his views.

However back then, the technology, product development and back-office was expensive and time intensive to manage. No individual or team of consultants could afford to support their businesses with essential services like legal, marketing, advertising, platform technology, custody and human resources, let alone office space and furniture.   The wirehouses had a lock on their business and Joe Plumeri was not going to change that. If anything, he would just make them more productive. No one was going anywhere.

But it turns out, Joe was right.   Advisors are entrepreneurial by nature and it also turns out because of their dedication to their clients’ interests, their clients will follow them anywhere, even if it means leaving the large wirehouses.   The connection between the advisors and their clients is undeniable.

Over the last 10-15 years, the decreasing costs of technology, product development, open architecture has created the Registered Investment Advisors (RIAs) movement. It was slow at first, because many advisors grew up thinking they were not equipped to run their own businesses. After all, that’s what “Mother Merrill “ and the rest were there to do.

The turning point came in 2008 – 2010, when Wall Street and their self interests blew themselves up. Suddenly, the sterling reputations of firms like Merrill Lynch, Smith Barney, UBS, Bear Sterns, Citigroup, Lehman Brothers and Goldman Saks were lost.   It was not the fault of Financial Advisors that the investment bankers and mortgage departments at their banks outsmarted themselves, but none-the-less they were all tied together.

Suddenly, Advisors realized their reputations and businesses were no longer in their control. As a result of the mortgage crisis, the banks not only clamped down on their product developers, but in large part on their advisors, limiting them in doing or saying anything to their clients.

This did not go over well with Joe’s entrepreneurial army. They have rebelled in great and growing numbers. Over the past five years over 950 advisers or adviser teams with $258.8 billion in assets left the wirehouses for a different platform, according to Investment News.

I have worked with many of these newly minted RIAs and they tell me they want to be in control of the relationship with their clients again.

As increasing numbers of advisors realize that they are living in an age of enlightenment and that Joe Plumeri was right, the number of RIAs will keep growing and the flow of assets away from the large wirehouses will keep steadily growing.


Joe Plumeri went on to become Chairman & CEO of Primerica, the CEO of Citibank North America and the Chairman & CEO of Willis Group. He is an author and philanthropist.


David Westcott is the CEO and President of Westcott Associates, a boutique marketing and media firm that specializes in helping Advisors transition to independence.


Bridging Your Marketing from the Past into the Future

I was asked recently how marketing has changed over the past 25 years. After laughing about how many ways I could answer that question, I said, “While the tools marketers use have changed, the challenges of marketing and communications have not.”

The key marketing challenges of any business have always been:

  • To identify target markets, their key concerns and needs
  • To communicate with clients and prospects simply and directly
  • To educate and inform clients and prospects about all aspects of your business, your philosophy and your value-add to them
  • To remind current clients why they do business with you
  • To provide objective advice that will help your clients make the right decisions

Despite the fact that these challenges have not changed, our approach has evolved because of improvements in the tools we use. Technology provides us with more precise information about our clients and prospects. We can better understand our clients and prospects by studying their demographics and web usage patterns. Using vast amounts of data, we can determine who is most profitable to target in our marketing and what materials will appeal to them. We can now target them with direct mail, email, by telephone and targeted advertising both in print and online. We can then analyze our data and focus our search even further making our marketing much more efficient and effective.

So, how do we learn from our key marketing challenges and apply today’s marketing tools? Over the next few months, I will present you with a number of marketing case studies I have worked on over my career, explaining how we addressed the challenges then and how we would use technology and data knowledge to address these challenges today.

My first article in the series for April is about how to communicate complex financial products and services simply and directly.

WAMM #1 — Marketing Complex Financial Products

I look forward to your comments and observations and to hearing some of your own experiences.


David C. Westcott
President & CMO

Westcott Associates Launches New Branding

After seven years and more than thirty-five clients, Westcott Associates is re-launching our business with a new brand and website. Our emphasis, as ever, is on helping financial firms customize and target their messaging and branding to broaden their reach to new clients.

When you choose a marketing firm to help you launch your company, to advertise your services or to clarify your image, you should ask three questions:

  1. Does the firm understand my business, my industry and my clients?
  2. Do they have the experience to present new approaches to old problems?
  3. Can they create award-winning writing, graphics, animation and video?

Over the past seven-plus years, Westcott Associates has represented personalized service, quality execution and innovative use of media and technology. Our new independent status allows us to provide our clients with greater resources and customized services on a personal level. Going forward, our company is refining our model and leveraging our experience with advanced media production and social media. Our new website reflects the beauty and elegance of design, while incorporating our unending commitment to detail and innovation.

We are excited to begin our new chapter and look forward to continuing our work with our existing clients. Thank you for your support. To our future clients, know that we are going to always surprise you with new and innovative ways to brand your company or to launch new products and services.

As we say in New York – Excelsior! (Onwards and upwards)

David Westcott