The Diamond Podcast for Monetary Advisors: Freestone Capital


We frequently communicate concerning the aggressive panorama as a constructive offering most selection and optionality for advisors. However that additionally means most competitors—and a a lot greater steady of selection for shoppers.

For many who serve excessive web value shoppers specifically, their success is commonly pushed by innovation: considering effectively outdoors the field to create distinctive options round how they serve shoppers, prepare their groups, construct their companies, and even handle investments.

But, the power to suppose – 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 shoppers may – and may – be first above all else got here to him whereas at Smith Barney, but it was an ethos not attainable to comprehend throughout 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 Personal Shopper Companies group at Arthur Anderson) joined as President to guide the agency’s progress initiative.

And it proved to be a dynamic mixture that propelled Freestone from $250 million in property below administration to over $9 billion immediately.

On this episode with Louis Diamond, you’ll study:

  • Freestone’s progressive options round shopper service.
  • Why they centered on natural progress first earlier than hiring skilled advisors.
  • Particulars about their distinctive, scalable coaching program for latest faculty 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 simply’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 study extra about that!

Essentially the most profitable advisors and corporations acknowledge that progress and shopper service go hand-in-hand—so hearken to this dynamic episode to learn the way this staff discovered progressive methods to marry the 2.

Obtain a transcript of this episode…

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

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