This is an amazing piece of news we received today – Financial Advisor Magazine has just put out their 2017 list of the 50 Fastest Growing RIAs in the country and we’re in the number four slot! The list is based on year-end assets under management versus the prior year. According to this data, we saw 97% growth through the calendar year.
I’m incredibly proud of the whole team for making this happen. The stuff you see Michael, Barry, Tony, Ben and I do on our blogs is the tip of the iceberg. Beneath the surface, there are fourteen highly dedicated advisors, operations people and technology folks who ensure that everything runs according to plan. As any advisor will attest – a growth rate like this requires an incredible amount of attention to detail, diligence and efficiency behind the scenes.
Three of the things that have contributed to our growth last year:
Institutional asset management: Ben Carlson joined the firm a couple of years ago to help us create and build out the institutional version of our portfolios for foundations, endowments and family offices in the $5 to $50 million space, which he believes are currently being ill-served by the hedge fund-happy consulting firms that dominate. Ben’s message is gaining some traction now and we’re really excited to be competing there.
Tactical asset allocation: We don’t talk about our in-house tactical strategy, which we call Goaltender, all that much. And frankly, in the current bull market, there isn’t much to say. But savvy investors – even those who tend to lean toward passivity – know that a tranquil bull market environment is precisely the time that you want to be thinking of a mechanism that lightens up for the inevitable downtrend. People who haven’t found an answer they like to the question “What’s the right way to do this?” are coming to us a lot.
Milestone Rewards: The last thing I’ll mention here is the Milestone Rewards program we created a couple of years ago. Last fall, on our third anniversary, the original clients of the firm became eligible for it. In a nutshell, we are an organization that believes investor behavior will be the single most critical factor in whether or not people make it to retirement (and beyond) with the returns they need. In deference to this idea, we’re constantly thinking of ways to make it easier for clients to adopt the right mindset. Milestone Rewards is a program wherein we automatically reduce our investment management fees for clients by an average of 14% upon their 36th month with us. It is an achievement clients earn by being loyal to their own financial plans – a behavioral bonus, if you will. The reduced fee they attain is forever. So far, the feedback has been tremendous.
Anyway, there are other things worth getting into at a later date, but for now I just want to say thanks to the team for all their hard work, thank you to our amazing clients for believing in us and thanks to all of our colleagues in the wealth management space who inspire us every day.
And by the way, if you’re an investor looking for some help with a plan, a portfolio or both – let’s talk!
And if you’re an advisor looking to be a part of what we’re building, give us a shout. It’s still early, and we’re really going for it.