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Saturday, April 6, 2024

The Diamond Podcast for Monetary Advisors: Freestone Capital

We regularly converse concerning the aggressive panorama as a constructive offering most selection and optionality for advisors. However that additionally means most competitors—and a a lot larger steady of selection for purchasers.

For individuals who serve excessive web price purchasers particularly, their success is usually pushed by innovation: pondering properly outdoors the field to create distinctive options round how they serve purchasers, prepare their groups, construct their companies, and even handle investments.

But, the power to assume – and act ­– with this degree of freedom isn’t essentially attainable for these constructing their companies within the wirehouses.

For Gary Furukawa, the concept that purchasers may – and may – be first above all else got here to him whereas at Smith Barney, but it was an ethos not attainable to appreciate inside the assemble of the brokerage world.

So in 1999, Gary launched Freestone Capital, a self-financed agency he constructed from the bottom up (a way more difficult endeavor than he imagined). In 2000, Erik Morgan (from the Non-public Shopper Companies group at Arthur Anderson) joined as President to steer the agency’s development initiative.

And it proved to be a dynamic mixture that propelled Freestone from $250 million in belongings underneath administration to over $9 billion at the moment.

On this episode with Louis Diamond, you’ll be taught:

  • Freestone’s progressive options round shopper service.
  • Why they targeted on natural development first earlier than hiring skilled advisors.
  • Particulars about their distinctive, scalable coaching program for current school grads.
  • Their novel strategy to investing and why they choose to function a direct non-public fairness investor.

And it’s the latter that you just’ll discover most attention-grabbing, as their roster of investments consists of golf programs, actual e

state, and even barrels of bourbon. However you’ll must tune in to be taught extra about that!

Probably the most profitable advisors and corporations acknowledge that development and shopper service go hand-in-hand—so take heed to this dynamic episode to find out how this crew discovered progressive methods to marry the 2.

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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