Ep 406: Exiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors with Michael Kramer
Release Date: 10/08/2024
Ep 407: Building Retirement Portfolios With A Liability-Driven-Investing Approach To Manage Sequence Of Return Risk with Mark Asaro
Financial Advisor Success
Mark Asaro is the Chief Investment Officer of Noble Wealth Management, an RIA based out of Colorado that oversees $320 million in assets under management for 160 households. Mark stands out with his liability-driven investing approach, which builds retirement portfolios focused on managing sequence of return risk, leveraging the use of closed-end bond funds to generate income to cover client expenses during the critical early retirement years. Listen in as Mark shares how Liability-Driven Investing (LDI) matches retirement portfolios to client spending needs, securing early retirement finances...
info_outline
Ep 406: Exiting To A Perpetual Purpose Trust To Facilitate Internal Leadership Succession Without Indebting G2 Advisors with Michael Kramer
Financial Advisor Success
Michael Kramer is the Manager of Natural Investments, an RIA based out of San Francisco that has offices across the country and oversees $1.9 billion in assets under management for 1,300 households. Michael's firm uniquely employed a perpetual purpose trust structure for its internal succession plan, which allowed the founding partners to monetize their ownership without burdening new advisors with debt. This approach also fostered a more equitable leadership structure, not solely based on share ownership. Listen in as Michael talks about the firm's governance by "trust stewards" and the...
info_outline
Ep 405: When Being ‘Youthful’ Turns From A Liability To An Asset In Building Your (Long-Term) Advisory Business with Gaetano Sacco
Financial Advisor Success
Gaetano Sacco is a partner and senior financial advisor at Fountainhead Advisors, an RIA based out of New Jersey that oversees approximately $900 million in assets under management for 1,000 households. Gaetano transformed his early career challenge of perceived inexperience into a distinct advantage, highlighting his youthfulness to reassure retirees that he can be their dedicated financial advisor for the long haul. Since breaking away from the insurance world, he has impressively grown his practice to $75 million in AUM in just five years, capitalizing on his long-term commitment to clients...
info_outline
Ep 404: The Evolution Of Specializing In College Planning To Work With Mid-Career Professionals Who Save with Ann Garcia
Financial Advisor Success
Ann Garcia is a partner of Independent Progressive Advisors, an RIA based out of Portland that oversees approximately $115 million in assets under management for 120 clients. Ann has distinguished herself by developing a nationally recognized expertise in college financial planning, a specialty that has grown alongside her advisory business, now focusing on mid-career professionals who balance saving for their children's college education with their own retirement planning. This dual focus reflects the evolving needs of her clientele as they navigate significant financial milestones. Listen in...
info_outline
Ep 403: Carving Your Path As An Investment Nerd By Building A Fractional CIO Solution For Other Advisory Firms with Eric Stein
Financial Advisor Success
Eric Stein is a Partner at East Bay Investment Solutions, a firm that offers fractional Chief Investment Officer services, supporting over $6 billion in assets under advisement across 26 advisory firm clients. In this episode, we discuss how Eric leverages his extensive investment expertise not by managing portfolios for individual clients as a traditional financial advisor, but rather by embracing his role as an 'investment nerd' serving as a fractional Chief Investment Officer, supporting multiple advisory firms and their clients. Listen in as Eric shares how his fractional Chief Investment...
info_outline
Ep 402: Accelerating Early Advisor Growth With A (Federal Employee) Specialization That Evolves Over Time with John Mason
Financial Advisor Success
John Mason is the President of Mason & Associates, an RIA based out of Virginia that oversees $370 million in assets under management for approximately 390 client households. What's unique about John, though, is how joining a firm that served the niche of Federal government employees allowed him to quickly accelerate his own learning curve and demonstrate his expertise early in his career as a 20-something—ultimately enabling him to more quickly begin bringing in his own clients. Listen in as John shares how his firm’s specialization in serving Federal employees allows it to operate...
info_outline
Ep 401: One-On-One Advice Through Financial Wellness Programs To (Profitably) Expand The Reach Of Financial Planning with Zack Hubbard
Financial Advisor Success
Zack Hubbard is the Director of Financial Planning and Participant Engagement of Greenspring Advisors, an RIA based out of Maryland that manages $2 billion of private wealth assets under management for 1,300 client households and advises on an additional $5 billion in retirement plan assets. Zack and his firm have developed a financial wellness offering that profitably delivers both self-serve technology and direct one-on-one financial advice to employees of businesses using their fiduciary 401(k) services. This approach not only supports plan participants, but also generates a steady stream...
info_outline
Ep 400: Sizing Up Versus Scaling Up To Build An Enduring Advisory Business with Mark Tibergien
Financial Advisor Success
Mark Tibergien is the former CEO of Pershing Advisor Solutions, a former Principal with Moss Adams Consulting, and a longtime practice management consultant and thought leader in the financial advisory industry. Over his 50-year career in financial services, Mark has witnessed the evolution of the financial advice industry and has actively defined best practices for advisory firms aiming to scale up and build enduring businesses. His extensive experience has enabled him to measure and track the key strategies that help firms not just grow in size, but also enhance their scalability and...
info_outline
Ep 399: Maintaining Company Culture More Virtually (When Scaling Past $3B AUM With 10 Office Locations) with Kelli Kiemle
Financial Advisor Success
Kelli Kiemle is the Managing Director of Growth and Client Experience of Halbert Hargrove, an RIA based out of California that oversees $3.1 billion in assets under management for 75 households. Kelli uniquely spearheads initiatives at Halbert Hargrove to uphold the firm’s four core values and foster a strong corporate culture, a critical task as the company expands to 50 employees across 10 offices in the western United States. This growth makes even their in-person offices effectively 'remote' and 'virtual' relative to the leadership at the firm's main headquarters. Listen in as Kelli...
info_outline
Ep 398: Building A $2.5B AUM Advisory Enterprise Under The Umbrella Of A National CPA Firm With Eric Wulff
Financial Advisor Success
Eric Wulff is the CEO of Marcum Wealth, an RIA based out of Cleveland that oversees $2.5 billion in assets under management for approximately 2,700 households. Eric has uniquely developed Marcum Wealth into a multi-billion-dollar firm under the umbrella of a national accounting firm, largely by fostering mutually beneficial relationships with internal CPAs to secure referrals of their accounting clients to his financial planning business. This strategy has effectively integrated and leveraged the firm's existing services to expand its client base and enhance its financial planning division....
info_outlineMichael Kramer is the Manager of Natural Investments, an RIA based out of San Francisco that has offices across the country and oversees $1.9 billion in assets under management for 1,300 households. Michael's firm uniquely employed a perpetual purpose trust structure for its internal succession plan, which allowed the founding partners to monetize their ownership without burdening new advisors with debt. This approach also fostered a more equitable leadership structure, not solely based on share ownership.
Listen in as Michael talks about the firm's governance by "trust stewards" and the unique role of a "trust enforcer" to ensure accountability as well as why the firm chose this model over traditional ESOP or cooperative structures. Michael also reflects on building his practice from the ground up, leveraging public speaking to attract like-minded clients, and embracing his role as a "seed planter" to foster a business that embodies his values and sustains beyond his tenure.
For show notes and more visit: https://www.kitces.com/406