James Pelmore
Q&A With James Pelmore: Redefining Independence for Advisors
Foundation Wealth Partners (FWP) is a partnership-driven portfolio management firm providing independent advisors and portfolio managers with the optimal balance of autonomy, operational efficiency, and strategic support. With offices in Ontario, B.C., and Alberta, FWP enables advisors to focus on delivering exceptional client service while leveraging industry-leading technology and advanced wealth planning capabilities.
A defining moment for FWP came in 2018 when Foundation Wealth partnered with Advisor Solutions by Purpose (ASP), a premier technology platform designed to empower independent advisors with cutting-edge technology, compliance support, and business infrastructure. This collaboration allows FWP advisors to maintain full control of their practice while eliminating the operational burdens that often hinder independent firms.
We sat down with James Pelmore, Partner and Private Wealth Manager at Foundation Wealth Partners, to discuss the value of true independence and how FWP is setting a new standard for advisors seeking to break free from traditional models.
What advice would you give to advisors considering independence?
The first step is to define what independence truly means to you. Many independent platforms are structured as employers with restrictive oversight, limiting the freedom they claim to offer. FWP, on the other hand, is a firm that welcomes independent business owners who desire true independence with the benefits that come with efficiencies of size and scale. ASP has a management services relationship with FWP, to provide a technology platform with bundled services in management and compliance.
If you're considering independence, the question I would pose is whether you want to build your own portfolio management firm from the ground up, with the associated costs, management and compliance or join an established portfolio management firm like FWP, where you retain full autonomy while benefitting from streamlined operations and compliance solutions. How much time and energy do you want to allocate to management and compliance versus time spent managing portfolios and serving clients?
How does the ASP platform enhance the experience for advisors at Foundation Wealth Partners?
The greatest advantage is efficiency. Managing compliance, regulatory filings, and evolving industry mandates can be overwhelming for independent firms, taking focus away from clients. ASP handles these complexities seamlessly, allowing us to concentrate on what truly matters—delivering value to our clients.
By integrating with ASP, FWP has eliminated much of the administrative burden that can stifle growth. The platform ensures we stay ahead of regulatory changes, operate with superior technology and benefit from shared costs, while keeping our practice running smoothly, all without compromising the independence of our partners and advisors.
What long-term benefits does the ASP platform offer to independent advisors?
Beyond operational efficiency, ASP creates opportunities for advisors to scale their business and enhance their value proposition. Advisors can develop proprietary investment solutions tailored to their clients, gaining greater control over assets under management, while reducing costs and improving client outcomes.
Another key advantage is compliance support. In many firms, compliance departments are seen as problematic rather than business facilitators. At FWP, our compliance team is a strategic partner, ensuring regulatory adherence while enabling growth. Their proactive, solutions-oriented approach makes a significant difference in how we operate and expand our business.
