A letter from Cassaday & Company, Inc. Founder Stephan Cassaday on the announcement of Allison Felix as President & Principal:  

Allison has a unique combination of traits that make her a natural leader. Her competence, compassion, and commitment to excellence have been a reliable constant for all of us, especially me. Her unique combination of wisdom, empathy, and firm-but-fair approach to the interpersonal dimension of management has made our staff feel secure and confident in their future, both individually and as a team.

Having a viable succession plan in place has been a top priority for the firm for years, and Allison is an integral part of this process. We consider it an abdication of fiduciary duty for advisors to not have a succession plan, yet 80 percent of advisory firms have failed to develop a plan for operational continuity.

Having a succession plan is of paramount importance to the sustainability of our firm. Allison has been groomed for the last 10 years to take over my role when I can no longer serve and to lead the executive team that will run the firm on a day-to-day basis. Through her continued excellence and growth in this role she has earned the confidence of her coworkers. I know Allison is dedicated to the success of the firm, and that she sees her role as not a job, or even a career, but as an essential part of her life.

This kind of commitment deserves recognition and acknowledgement at the highest levels. Effective immediately, I will become Chairman of Cassaday & Company. Inc. and retain the Chief Executive Officer title. Allison will become the firm’s President and will continue to maintain her COO responsibilities. She will also become the newest shareholder of the firm, joining Christopher Krell, Justin Harris and Christopher Young as a principal. I am proud and honored to say that each of these four shareholders have an average tenure with the firm of over 20 years.

Few know that only 16 percent of partners owners in the independent wealth channel are women. We hire and promote our people based on talent and ability and are proud of the fact that 6 of 8 department heads are female.

Please join me in congratulating Allison.

Sincerely,

 

 

 

Stephan Quinn Cassaday
Chairman & Chief Executive Officer