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enterprisechronicles · 26 days ago

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Nicholas Subich: Leading the Charge in Financial Innovation

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Finance leaders are at the forefront of innovation and reliability, steering their organizations and clients through the intricacies of financial markets. Their exceptional skill in managing economic fluctuations, devising strategic investments, and building trust-based relationships distinguishes them in their field. They not only adapt to market changes but also shape them, leaving a lasting impact on both the industry and the communities they support. Their leadership goes beyond financial transactions, reflecting qualities of resilience, vision, and a commitment to excellence. These leaders are essential in shaping the financial sector and ensuring its growth, stability, and success.

Nicholas Subich, President & CEO of YTS Wealth Management, stands out as a prominent figure in finance. His career, marked by significant growth and innovation, has elevated YTS to a leading position in the industry. Nicholas’s strategic insights and dedication to client success have set a new benchmark in wealth management. Under his guidance, YTS has thrived, becoming known for its integrity, expertise, and exceptional client service. Nicholas’s pioneering approach exemplifies transformative leadership, making him a respected and influential figure in the field.

Professional Journey

Nicholas Subich embarked on his financial services career at Lincoln Financial Securities before moving to LPL Financial in 2020. Hailing from the Johnstown, PA area, Nicholas earned a Bachelor of Science in Business Administration with a focus on Finance and Economics from Lock Haven University. While in college, he juggled academics, athletic commitments, and earned his commission as an Army Infantry Officer in the PA Army National Guard. His dedication to community service persists as he currently serves as the Company Commander of Bravo Company 1/109th IN in Williamsport, PA.

Under Nicholas’s leadership, YTS has experienced remarkable growth, scaling its asset management from $85 million to an impressive $850 million. This growth reflects Nicholas’s strategic acumen and commitment to achieving exceptional outcomes for both clients and advisors. His contributions have been recognized with accolades such as Forbes Top Next-Gen Wealth Advisors and Pittsburgh Smart Business 50. Additionally, YTS was named one of the Top 20 Wealth Management Service Providers of 2023 under his stewardship. Nicholas’s influence extends to his community impact, evidenced by the Johnstown Magazine of the Year Award.

Nicholas’s career blends military service with civilian leadership. As a captain and company commander, he guides a unit of infantry soldiers, embodying the military’s principles of resilience. His leadership style, shaped by his military experience, has been pivotal to YTS’s success. With his team positioned for further growth, Nicholas remains dedicated to providing exceptional service and making a significant impact on his clients’ lives.

#INFOGRAPHICSYearAssets Under Management (AUM)2019$85 million2024$850 million

Personalized Wealth Management Services

In 2019, Nicholas Subich founded YTS Wealth Management with a steadfast commitment to its success. The firm, initially rooted in Pittsburgh, has since grown beyond its local origins, establishing offices in Pennsylvania, Maryland, and Virginia, and now serving clients in 25 states. In 2023, Nick Frazetta joined as a partner, bringing his expertise and strategic vision to elevate YTS Wealth Management’s mission.

Together, Subich and Frazetta are dedicated to enhancing the lives of clients nationwide. YTS Wealth Management is devoted to making a significant and lasting impact, ensuring that client financial futures are secured and supported through every phase of their lives. The firm prides itself on its client-centric approach, addressing challenges with unwavering commitment and providing comprehensive support.

YTS Wealth Management distinguishes itself by focusing on personal connections rather than relying solely on digital interactions. This approach, particularly relevant during the COVID-19 pandemic when clients sought more face-to-face financial advice, has fueled the firm’s impressive growth of 1200 percent in just four years. With nearly a billion dollars in assets under management, YTS offers a broad range of services including asset management, financial planning, insurance management, and tax preparation, all integrated into a cohesive financial platform.

Navigating Challenges

Nicholas Subich discusses the initial obstacles faced by YTS, identifying age as a significant challenge. Despite their youth, he points out that the team brings fresh, innovative ideas and strong execution skills that distinguish them from more seasoned competitors. Nicholas recognizes that their age often leads to skepticism and criticism, which can sometimes border on disrespect. Nevertheless, he views their youth as both a challenge and an advantage. While some competitors may doubt their expertise, Nicholas highlights their ability to adapt quickly and innovate, which allows them to surpass industry veterans who may be stuck in outdated methods. He argues that their agility and adaptability have been crucial to their success, enabling them to navigate economic challenges effectively in a rapidly evolving industry. Although age bias persists, Nicholas believes it ultimately strengthens their position, enabling them to execute projects with unmatched speed and efficiency.

Transformative Growth

Nicholas reflects on key moments that fueled the firm’s impressive growth. He pinpoints two major factors: the natural growth from client referrals and strategic acquisitions aimed at addressing the industry’s aging financial advisor population. Despite the COVID-19 pandemic’s impact in 2020, YTS saw a remarkable 20% increase in referrals, contrary to broader market trends. Nicholas credits this achievement to a strategic focus on enhancing client engagement through tailored events, which strengthened relationships and boosted trust. This approach set YTS apart from its competitors and reinforced its reputation as a reliable industry advisor.

Furthermore, Nicholas Subich emphasizes the strategic move towards acquiring and transitioning substantial client portfolios from retiring financial advisors. By efficiently scaling through bulk acquisitions, YTS completed seven transitions totaling over $600 million in assets in just two years. As a recognized authority in succession planning, YTS provides retiring advisors with a dependable solution for seamless client transitions. With a solid infrastructure and extensive expertise, YTS aims to further expand its acquisition strategy, targeting $1 to $2 billion in assets for the coming year. This swift yet deliberate approach has solidified the firm’s standing as a leader in managing large-scale transitions with integrity and dependability.

Action-Oriented Leadership

Nicholas credits the company’s success to its capacity for rapid and accurate execution. He underscores the significance of acting swiftly once ideas are conceived, a practice that differentiates YTS from its rivals. With a dedicated team of 25 to 30 professionals on staff, the firm can quickly adapt to economic signals or client requirements. Nicholas points out that the firm’s financial advisors excel at making on-the-spot decisions customized for each client, avoiding bureaucratic delays. This forward-thinking strategy allows for prompt client feedback, which highlights YTS’ responsiveness and dedication to client satisfaction.

Holistic Financial Approach

YTS employs a three-stage approach: evaluation, planning, and management. Nicholas Subich highlights the importance of a coordinated range of services to provide effective wealth management for clients. YTS’ offerings include financial planning, insurance planning, estate planning, and tax preparation, all seamlessly integrated to meet clients’ goals. The process starts with assessing clients’ objectives and needs, followed by crafting a customized financial plan that leverages expertise from various departments. The management phase then ensures that the plan remains relevant in light of changes in clients’ circumstances, market conditions, and investment prospects. Nicholas contrasts YTS’s proactive, client-focused approach with competitors’ more reactive, model-based methods. By providing a holistic solution within a single framework, YTS maintains a competitive edge and delivers significant financial management benefits to its clients.

Enhanced Integration Services

Nicholas announces the launch of the firm’s newest service: the Integration and Training Department. This department is dedicated to providing structured and customized support for retiring financial advisors as they transition their practices to YTS. Unlike other piecemeal methods, YTS offers a holistic and integrated process, ensuring a smooth transition for advisors across the country. Nicholas Subich underscores the department’s pivotal role in guiding advisors through the transition and acquisition phases, marking it as a significant differentiator for YTS in 2024. Now operational, the Integration and Training Department exemplifies the firm’s dedication to offering personalized solutions and fostering successful collaborations with retiring advisors.

Nationwide Expansion Strategy

Nicholas envisions the firm’s growth through the establishment of offices across every state, aiming for swift expansion driven by strategic acquisitions and transitions. By capitalizing on YTS’ resources and proven success, the goal is to attract advisors from all corners of the country. YTS seeks to become the top choice for aging financial advisors in search of a smooth succession plan or those looking to sell their practice. Nicholas’s forward-thinking strategy underscores YTS’ dedication to broadening its reach and providing nationwide service.

Forward-Thinking Approach

Nicholas Subich holds the view that the primary duty of an entrepreneur is to foster constant innovation. He perceives his role as challenging the organization to step outside its comfort zones, driving ongoing growth and adaptability. Nicholas underscores the importance of anticipating industry changes and steering clear of complacency. He considers innovation vital for advancing the organization and assisting clients in navigating financial uncertainties. Nicholas is dedicated to fostering a culture of innovation, leveraging the latest technology, strategies, and a talented team to provide exceptional service. This dedication to innovation encapsulates his vision of entrepreneurial leadership at YTS.

Nurturing Employee Growth

Nicholas highlights the company’s strong commitment to employee development and well-being. He firmly believes that prioritizing employee satisfaction is essential for retaining talent and creating a positive work environment. YTS distinguishes itself by offering competitive pay and benefits, supporting employees in both their personal and professional growth. Nicholas Subich is proud of the company’s focus on internal advancement, sharing numerous examples of team members rising from entry-level positions to leadership roles. This culture of ongoing development underpins YTS’s distinctive approach to team building. Nicholas places a high value on diversity, seeking out individuals with diverse backgrounds and experiences, understanding that varied perspectives are vital for fostering innovation. He believes that a diverse team enhances creativity and problem-solving, which is crucial for staying competitive in the rapidly changing landscape of 2024. YTS’s culture of continuous improvement and embracing diversity makes it stand out, ensuring the team remains dynamic and innovative in reaching its objectives.

Pinnacle Achievements

Nicholas Subich highlights three major milestones in his professional journey. His greatest source of pride is raising his son, Anthony, whose well-being inspires all his efforts. Nicholas deeply values the personal joy of nurturing and guiding his son through life. On the business front, he takes immense pride in the growth and success of his employees. Witnessing his team members being recognized for their contributions, reaching financial goals, and advancing in their careers gives him a profound sense of accomplishment. Furthermore, Nicholas views the nationwide expansion of YTS as a significant achievement. This expansion reflects his commitment to helping more people and making a positive impact on a broader scale.

Client-Centered Experiences

Nicholas Subich shares two significant experiences that highlight YTS’s dedication to its clients. During the uncertainty of the COVID-19 pandemic in 2020, Nicholas and his team were quick to assist a worried retiree. Despite their busy schedule, they assured the client of immediate help. Within hours, the team gathered at the client’s home to develop a personalized plan to address his concerns. This response underscores YTS’s dedication to promptly and thoroughly addressing client needs.

In another meaningful instance, Nicholas and his team extended crucial support to a terminally ill client. Understanding the urgency of his situation, they swiftly arranged a meeting to ensure all his affairs were in order. By providing guidance during his final days, YTS not only alleviated the client’s concerns but also exhibited a level of care that goes beyond typical client-advisor interactions. These stories exemplify the personalized service and unwavering commitment that characterize YTS’s approach to client care.

Community Engagement & Family Time

Nicholas is deeply involved in community service and leadership, actively participating on both the Murrysville Library Board and the Murrysville Parks and Recreation Foundation Board. He brings his expertise and dedication to enhancing cultural and recreational opportunities in the area. His commitment goes beyond his professional life, as he strongly believes in giving back to the community. Through his leadership, Nicholas Subich significantly contributes to the quality of life in Murrysville, PA, helping to create a strong sense of community among residents. Living in Murrysville, PA, Nicholas treasures time with his family, including his wife Regina, their son Anthony, and their cherished dogs, Conan and Caroline. Whether he’s taking a peaceful walk in the woods or enthusiastically supporting the Pittsburgh Steelers, Nick finds happiness in life’s simple joys.

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