Nicholas Subich: Leading the Charge in Financial Innovation

Nicholas Subich: Leading the Charge in Financial Innovation | The Enterprise World

Leaders in finance hold the beacon of innovation and trust, guiding their firms and clients through the complexities of the financial markets. Their acumen in navigating economic uncertainties, crafting strategic investments, and fostering integrity-based relationships sets them apart. They adapt to market dynamics and redefine them, creating lasting impacts on the industry and the communities they serve. Their leadership transcends mere financial transactions, embodying the principles of resilience, foresight, and commitment to excellence. Such leaders are pivotal in sculpting the financial landscape and ensuring growth, stability, and prosperity.

Among these luminaries stands Nicholas Subich, the President & CEO of YTS Wealth Management, who has emerged as one of the most iconic leaders in finance to watch. With a distinguished career marked by remarkable growth and innovation, Nicholas has catapulted YTS into the spotlight, establishing it as a powerhouse in the financial sector. His strategic vision and a genuine passion for client success have set a new standard in wealth management. Under his leadership, YTS has flourished, becoming synonymous with integrity, expertise, and unparalleled client service. As a trailblazer in the industry, Nicholas epitomizes the essence of transformative leadership, making him a figure to admire and emulate.

Professional Journey

Nicholas Subich’ journey in the financial services industry began at Lincoln Financial Securities before transitioning to LPL Financial in 2020. Originally from the Johnstown, PA area, Nicholas holds a Bachelor of Science Degree in Business Administration with a specialization in Finance and Economics from Lock Haven University. During college, he balanced academics with being a student-athlete and earning his commission as an Army Infantry Officer in the PA Army National Guard. Nicholas’ commitment to community service continues today as the Company Commander of Bravo Company 1/109th IN in Williamsport, PA.

Under his leadership, YTS has seen significant growth, managing $85 million in assets to an impressive $850 million. This expansion underscores Nicholas’s strategic vision and dedication to delivering outstanding results for clients and advisors. His outstanding contributions have earned him several recognitions including Forbes Top Next-Gen Wealth Advisors, Pittsburgh Smart Business 50, etc. Additionally, under Nicholas’s guidance, YTS was honored as one of the Top 20 Wealth Management Service Providers of 2023. Nicholas Subich’s leadership is further highlighted by the Johnstown Magazine of the Year Award, showcasing his impact within the community.

Nicholas’s journey combines military service and civilian leadership. As a captain and company commander, he leads a unit of infantry soldiers, drawing on the military’s ethos of perseverance. His leadership philosophy, shaped by his military background, has been instrumental in YTS’ success. With a team poised for continued growth, Nicholas Subich remains committed to delivering exceptional service and making a meaningful difference in clients’ lives.

YearAssets Under Management (AUM)
2019$85 million
2024$850 million

Personalized Wealth Management Services

In 2019, Nicholas Subich established YTS Wealth Management with a resolute dedication to its prosperity. Since then, the firm has transcended its Pittsburgh beginnings, expanding nationwide with offices in Pennsylvania, Maryland, and Virginia, serving clients across 25 states. Joining as a partner in 2023, Nick Frazetta brought his expertise and vision to amplify the mission of YTS Wealth Management. 

Together, they endeavor to enrich lives throughout the country. With an unwavering commitment to service and a focus on creating a lasting positive impact, YTS is committed to making a meaningful difference for future generations. At YTS Wealth Management, our clients are our priority, and we are committed to safeguarding their financial futures. With steadfast dedication, we address any challenges our clients face, providing support at every stage of life’s journey.

YTS Wealth Management has a distinct vision: to redefine the landscape of wealth management by prioritizing personal relationships over digital detachment. Its mission stood out amidst an industry trend toward remote interactions and automation. The onset of the COVID-19 pandemic inadvertently supported the firm’s approach as clients increasingly sought in-person financial guidance. This unique strategy propelled YTS to extraordinary growth, boasting a remarkable 1200 percent increase in four years. Managing nearly a billion dollars in assets, the firm offers comprehensive solutions for every aspect of its clients’ financial lives, specializing in retirement planning. Services encompass asset management, financial planning, insurance management, and tax preparation, all seamlessly integrated into a single financial platform.

Navigating Challenges

While discussing the initial hurdles faced by YTS, Nicholas highlights age as a primary challenge. Despite being a young group, Nicholas notes that they bring innovative ideas and execution capabilities that set them apart from more established competitors. He acknowledges the common skepticism encountered due to their age, often manifesting as disrespectful remarks or criticism. However, Nicholas Subich sees their youthfulness as both a challenge and an advantage.

While competitors may question their expertise, he emphasizes their ability to pivot and innovate rapidly, outpacing industry veterans stuck in outdated practices. Nicholas asserts that their agility and willingness to adapt have been key to their success, allowing them to stay ahead of economic challenges in a fast-paced, ever-changing industry. While age bias remains a hurdle, Nicholas believes it strengthens their position, enabling them to execute with unparalleled speed and efficiency.

Transformative Growth

Nicholas reflects on pivotal moments that sparked the firm’s remarkable growth trajectory. He identified two primary drivers: organic expansion through client referrals and strategic acquisitions to address the industry’s aging financial advisor force. Amidst the challenges of the COVID-19 pandemic in 2020, YTS experienced a 20% surge in referral growth, defying market trends. Nicholas attributes this success to a strategic shift towards increased client engagement through personalized events, fostering deeper connections and amplifying trust. This proactive approach distinguished YTS from competitors, solidifying its position as a trusted advisor in the industry.

Additionally, Nicholas Subich highlights the strategic pivot towards acquiring and transitioning large client portfolios from retiring financial advisors. Recognizing the efficiency of scaling through bulk acquisitions, YTS successfully executed seven transitions, totaling over $600 million in assets within two years. Positioned as an industry expert in succession planning, YTS offers retiring advisors a reliable resource for seamless client transitions. Leveraging robust infrastructure and expertise, YTS is poised to expand its acquisition strategy further, projecting to acquire $1 to $2 billion in assets in the upcoming year. This rapid yet meticulous approach has cemented the firm’s reputation as a leader in managing large-scale transitions with integrity and reliability.

Action-Oriented Leadership

Nicholas Subich attributes the firm’s success to its ability to execute quickly and precisely. He emphasizes the importance of taking immediate action upon conceptualizing ideas, which sets YTS apart from competitors. With a team of 25 to 30 in-house professionals, the firm can swiftly implement changes in response to economic indicators or client needs. Nicholas highlights the firm’s financial advisors’ ability to make real-time decisions tailored to individual clients, bypassing bureaucratic hurdles. This proactive approach garners immediate feedback from clients, who appreciate YTS’ agility and commitment to their best interests. 

Holistic Financial Approach

YTS offers a three-step process: assess, plan, and manage. Nicholas Subich emphasizes the necessity of a synchronized suite of services to effectively deliver wealth management to clients. YTS’ services encompass financial planning, insurance planning, estate planning, and tax preparation, all coordinated to align with clients’ objectives. The process begins with assessing clients’ goals and needs and developing a tailored financial plan integrating various departments’ expertise. Subsequently, the management phase ensures ongoing alignment with changes in clients’ lives, the economy, and investment opportunities. Nicholas contrasts the firm’s proactive, client-centric approach with competitors’ model-driven, reactive strategies. By offering a comprehensive solution under one roof, YTS stays ahead of the curve and delivers impactful financial management to its clients.

Enhanced Integration Services

Nicholas Subich introduces the latest addition to the firm’s service lineup: the Integration and Training Department. This department offers systematic and personalized support to retiring financial advisors transitioning their practices to YTS. Unlike ad hoc approaches, YTS’ process is comprehensive and integrated, ensuring a seamless transition for advisors nationwide. Nicholas highlights the department’s role in guiding advisors through the transition and acquisition process, emphasizing its importance as a key differentiator for YTS in 2024. Already in operation, the Integration and Training Department reflects the firm’s commitment to providing tailored solutions and facilitating successful partnerships with retiring advisors.

Nationwide Expansion Strategy

Nicholas Subich outlines the firm’s vision for expansion by establishing offices in every state nationwide. He envisions rapid growth achieved through strategic acquisitions and transitions, leveraging YTS’ resources and success stories to attract advisors nationwide. By providing a seamless succession solution for aging financial advisors, YTS aims to position itself as the preferred destination for advisors looking to transition or sell their practice. Nicholas’s proactive approach reflects YTS’ commitment to expanding its footprint and serving clients nationwide.

Forward-Thinking Approach

Nicholas believes the foremost responsibility of an entrepreneur is perpetual innovation. He sees his role as pushing the organization beyond comfort zones, ensuring continual progress and adaptation. Nicholas Subich stresses the necessity of staying ahead of industry shifts and avoiding complacency. He deems innovation crucial for propelling the organization forward and guiding clients through financial uncertainties. Nicholas emphasizes his duty to cultivate an innovative culture, utilizing cutting-edge technology, strategies, and a skilled team to deliver outstanding service. This commitment to innovation epitomizes his vision of entrepreneurial leadership at YTS.

Nurturing Employee Growth

Nicholas emphasizes the firm’s commitment to employee development and well-being. He believes prioritizing employee satisfaction is paramount to retaining talent and fostering a positive work environment. YTS stands out for its dedication to providing competitive pay and benefits, ensuring employees are supported in their personal and professional growth. Nicholas Subich takes pride in promoting internal advancement, citing numerous instances of team members progressing from entry-level roles to leadership positions within the organization.

This culture of continuous improvement drives YTS’ unique approach to team building. Nicholas values diversity and seeks individuals with varied backgrounds and experiences, recognizing the importance of diverse perspectives in fostering innovation. He believes that a diverse team enhances creativity and problem-solving abilities, crucial for competing effectively in the evolving landscape of 2024. YTS’ culture of constant improvement and embracing diverse perspectives sets it apart, ensuring the team remains dynamic and innovative in achieving its goals.

Pinnacle Achievements

Nicholas reflects on three significant achievements in his professional journey. Foremost among them is his pride in raising his son, Anthony, whose well-being drives his endeavors. Nicholas Subich cherishes the personal fulfillment of nurturing his son and guiding him through life. In terms of business achievements, Nicholas finds immense satisfaction in witnessing the growth and success of his employees. Seeing team members recognized and rewarded for their contributions, achieving financial milestones, and advancing their careers brings him unparalleled pride. Additionally, Nicholas considers expanding YTS’ reach nationwide a notable accomplishment. Enabling the firm to help more people and make a positive impact on a larger scale is a testament to Nicholas’s vision and dedication. 

Client-Centered Experiences

Nicholas Subich recounts two profound experiences showcasing YTS’ client-centric ethos. Amid the uncertainties of the COVID-19 pandemic in 2020, Nicholas and his team swiftly responded to a distressed retiree. Despite a packed schedule, they assured the client of immediate assistance. Within hours, the team convened at the client’s home, crafting a personalized plan to address his concerns. 

This tailored approach reflects YTS’ commitment to promptly and comprehensively meeting clients’ needs. In another poignant encounter, Nicholas and his team provided invaluable support to a terminally ill client. Recognizing the urgency of his situation, they promptly arranged a meeting to ensure all his affairs were in order. By offering guidance during his final days, YTS not only eased the client’s concerns but also demonstrated a level of care that transcends traditional client-advisor relationships. These anecdotes epitomize the personalized service and commitment that define YTS’ approach to client satisfaction.

Community Engagement & Family Time

Nicholas actively engages in community service and leadership roles. He serves on the Murrysville Library Board and the Murrysville Parks and Recreation Foundation Board, contributing expertise and dedication to enriching cultural and recreational offerings. His commitment extends beyond his professional endeavors, reflecting a deep belief in giving back. Through his leadership, Nicholas Subich plays an integral role in shaping the quality of life in Murrysville, PA, fostering a sense of belonging among residents. Residing in Murrysville, PA, Nicholas cherishes moments with his family, including his wife Regina, son Anthony, and their beloved dogs, Conan and Caroline. Whether enjoying a leisurely walk through the woods or passionately cheering on the Pittsburgh Steelers, Nick finds joy in life’s simple pleasures.

“Nicholas emphasizes the importance of taking immediate action upon conceptualizing ideas, which sets YTS apart from competitors.”

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