Saturday, December 9, 2023

Embracing the Worth of Personal Fairness and Interdependence

“Interdependence” is an fascinating phrase—notably when used within the context of the impartial area.

As a result of for a lot of, the considered beginning an impartial follow conjures visuals of being extra solitary and self-dependent.

But for Michael Nathanson, the notion of interdependence is one which fostered the expansion of RIA The Colony Group.

It’s a philosophy that revolves round embracing partnerships and the merging of concepts, experiences, and experience. And it extends to offering something and every part their purchasers want in a multi-family workplace assemble.

And it’s that very philosophy that fueled the agency’s progress from $1.2B to some $20B in property beneath administration in simply over a decade.

In his earlier life, Michael was a Senior Accomplice on the worldwide regulation agency of Wilmer Cutler Pickering Hale and Dorr LLP when he was first launched to The Colony Group. In 2004, he resigned his function on the regulation agency to “take an opportunity to do one thing completely different,” as he put it, opting to turn out to be The Colony Group’s CFO and Common Counsel. Michael shortly superior to President and CEO of the agency, and now serves as Chair and CEO.

So how does a former lawyer turn out to be such a driving power behind the tradition and imaginative and prescient of an impartial wealth administration agency?

On this episode, Michael shares his journey with Mindy Diamond, together with:

  • The Colony Group’s extraordinary progress—and the way the idea of “interdependence” turns their mission right into a actuality.
  • The actual worth of fairness companions—and why they selected Focus Monetary over others.
  • Key points of the agency’s acquisition technique—and the way their distinctive tradition and household workplace providers are engaging promoting factors.
  • The “curated” providers they provide excessive web value purchasers—and the way “democratizing” entry to providers as soon as obtainable to solely ultra-high web value purchasers is a cornerstone of their success.

Michael gives a singular perspective on a altering panorama and why “specializing in what made our business nice within the first place, which is independence and being fiduciaries in placing our purchasers first,” is the important thing to success. There’s quite a bit to study on this episode, for worker advisors and enterprise house owners alike.

Obtain a transcript of this episode…

Hearken to extra episodes of Mindy Diamond on Independence: A Podcast for Monetary Advisors Contemplating Change

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