One Layer Deeper
It may be helpful to individuals checking us out, to go one layer deeper beyond HOW we are unique, to WHY we are unique. Whereas, the HOW continually evolves (because we regularly add new features and capabilities to our arsenal) the WHY is a constant.
Here is WHY we are Unique
We are privately held, super majority owned by a family that intends to majority own and smartly grow the enterprise for many decades to come. We also have a plan and program to provide lucrative ownership opportunities to key employees aligned with our same vision and time frame. This same family has consistently nurtured and grown the firm, with zero debt and constant profitability, since 1990 and has no plans, interest or desire to slow down, sell or change the focus of the firm.
2. We are focused on being a hero to a very specific niche of high and ultra-high net worth individuals and families, which we already have a 30-year advantage knowing and serving. Our focus is our strength and the more we uniquely develop our solutions, tailored to the needs and wants of our narrow niche, the stronger we become. Our view is that anyone less focused, no matter how big (what we believe becomes a liability after a certain point) or how prestigious (we don’t think status adds value), can match the value add, relationship, and utility to those we target.
We are selective in who we accept as clients – both in quantitative and qualitative terms. This enables us to have several built-in imbedded advantages in our structure and design, such as having an average account size more than double the industry average per peer groups studies* and having happy employees who love the clients we serve (we only seek clients who want to work with us, are wonderful to work with and who value and respect what we do and who we all are). We believe this scale advantage, compatibility advantage and other advantages like them enables us to function and operate at a completely different level.
We constantly invest in and develop our own proprietary systems, tools and processes (we are the only financial firm of our type we know of with its own patented system) and we also aggressively invest in what we classify as best-available industry systems, tools and processes that meet our high standards of excellence. Our people are strategically supported by technology where it serves us, and clients. We avoid technology where we believe it takes away from relationships or results. A constant “new capabilities” budget proactively funds our innovations. In fact, at any given time, we are piloting a variety of new innovations and broadly releasing those that make it past pilot tests.
We have a business operating system that engages all team members in collaborative efforts continually working in our business (serving clients) and working on our business (adding strategic new capabilities where they are needed most). This business operating system involves a 25-Year Founders Vision, a 10-Year Target, a 3-Year Vivid Picture a 1-Year Game Plan and quarterly and weekly “pulse” routines. Real-time scorecards on the most critical measurables related to these plans keep us focused, tuned in and engaged. Smart (focused on the right things) and healthy (open communication) collaboration is what our culture is all about.
We believe these five characteristics are what makes us unique. If you value them, you may be a good fit for our organization. If you don’t, other alternatives may be more suitable for you.
A Word About Consolidation Trends in our Industry
Many in our industry have been bought out by big banks, private equity groups or have grown through merger and acquisition - essentially buying-out and often retiring the top-notch people who were the soul of the organization. We question the ability of such organizations to deliver a quality client experience, day-in and out and to continually enhance that experience over time.
Our typical client seeks to avoid such entities that may have long abandoned personal relationship, a narrow-targeted focus and entrepreneurial zeal. We are tuned in as many of our clients come from such competitors. We’d be honored to help you think about and decide what is best for you.