Brandywine Oak Personal Wealth, a registered funding advisory agency nestled within the Delaware Valley of southern Pennsylvania, was based in 2018 by 5 breakaway wirehouse advisors with $500 million in consumer property between them.
The agency has grown by greater than 68% in simply 5 years, primarily by means of natural progress, whereas including seven extra employees and creating an affiliated tax follow with three devoted accountants. At this time, Brandywine Oak oversees round $1.5 billion in property and co-CEOs Michael Henley and Alison Brooks count on to succeed in $5 billion over the approaching decade.
Associated: The RIA Edge 100: Rising Above and Past
However not by attracting extra purchasers. The alternative, in reality.
“We’re really making an attempt to shrink the variety of purchasers that we work with,” mentioned Henley. “And improve the dimensions of these purchasers.”
Associated: S.C. Advisor Reunites with Brandywine Oak Personal Wealth Staff
Tracy McGuire; Steve Maconi; Alison Brooks; Michael Henley; Lisa Quadrini; Mark Jackson; Chris Smith.
If the agency’s median consumer has $3 million in manageable property, he defined, they’re focusing on purchasers within the $5 million vary. And when their median consumer reaches $5 million, they’ll be courting households with greater than twice that quantity.
“The extra we will go up-market, we discover these households have extra refined planning wants which are a greater match for our talent set,” Henley mentioned, including that it additionally is smart from a capability standpoint. “You may solely deal with so many households. In case your common consumer is $2 million, you in all probability shouldn’t be onboarding a bunch of $1 million purchasers—however I see it occurring on a regular basis.”
Brooks and Henley mentioned they left positions at Merrill Lynch—the place every spent greater than a decade—as a result of they discovered they have been unable to provide goal and unconflicted recommendation below the captive wirehouse mannequin. They based Brandywine Oak with Chairman Steve Maconi, Tracy McGuire and Mark Jackson, all Merrill Lynch expats with 75 years of expertise between them.
“We’re now able to be on the identical aspect of the desk because the purchasers,” Henley mentioned. “And we’re younger; we have now an extended runway forward of us and in the end didn’t need to be trapped into sure funding merchandise, sure recommendation, et cetera.”
One of many companies included on WealthManagement.com’s RIA Edge 100 listing, created in partnership with Discovery Knowledge, Brandywine Oak has grown at a considerably quicker tempo than its extra established friends, whereas additionally sustaining an above common client-to-advisor ratio and investing in skilled certifications.
In just some brief years, the agency has added and expanded companies and capabilities by means of considerate additions, ongoing skilled improvement and a proactive staffing coverage to handle progress.
In addition to monetary planning companies, Brandywine Oak presently presents funding administration, retirement planning, tax planning and preparation, insurance coverage and property planning, entry to sure banking companies and ongoing monetary training. The agency has native legislation and insurance coverage companies on retainer to supply the related experience and obligatory paperwork—however introduced taxes in-house 18 months in the past, launching an adjoining follow with CPA Chris Smith and three workers.
“That has been an enormous differentiator when it comes to aggressive benefit,” mentioned Henley, noting that the tax follow constantly units the agency other than Merrill Lynch and Wells Fargo, in addition to bigger RIAs like Inventive Planning.
“What we underestimated,” he added, “was the overwhelming variety of purchasers that wished to instantly swap over to having their taxes executed. We anticipated round 10% within the first 30 days, and it ended up being nearer to 40%. So, it was lots, nevertheless it was actually a game-changer.”
Each below the age of 40—together with 80% of the agency’s employees—Henley and Brooks venture a cushty administration dynamic that deserves credit score for at the least a few of their success.
“Michael is the agency’s visionary,” mentioned Brooks. “He works with our most refined purchasers and comes up with all these concepts which have actually been key to our progress.”
“And Alison is aware of how one can execute on these concepts,” Henley mentioned.
That co-management philosophy extends all through all the agency. Every consumer is roofed by at the least one lead advisor and two devoted associates and has entry to all of the experience and expertise Brandywine Oak has to supply.
“None of our advisors have their very own purchasers,” Henley mentioned. “They’re all purchasers of all the agency and that’s vital.” He defined that the mannequin permits his employees to stay extremely concerned with every consumer whereas lessening the day-to-day workload for senior advisors who can focus their power on extra sophisticated duties for more and more refined wants.
Inside group constructing can also be an essential exercise at Brandywine Oak, he mentioned—and an excellent enjoyable one with a predominantly millennial employees. One latest tour took all the agency to the Porsche Expertise Middle in Atlanta, Ga.
“We had allBrandywine Oak Personal Wealth, a registered funding advisory agency nestled within the Delaware Valley of southern Pennsylvania, was based in 2018 by 5 breakaway wirehouse advisors with $500 million in consumer property between them.
The agency has grown by greater than 68% in simply 5 years, primarily by means of natural progress, whereas including seven extra employees and creating an affiliated tax follow with three devoted accountants. At this time, Brandywine Oak oversees round $1.5 billion in property and co-CEOs Michael Henley and Alison Brooks count on to succeed in $5 billion over the approaching decade.
Associated: The RIA Edge 100: Rising Above and Past
However not by attracting extra purchasers. The alternative, in reality.
“We’re really making an attempt to shrink the variety of purchasers that we work with,” mentioned Henley. “And improve the dimensions of these purchasers.”
Associated: S.C. Advisor Reunites with Brandywine Oak Personal Wealth Staff
Tracy McGuire; Steve Maconi; Alison Brooks; Michael Henley; Lisa Quadrini; Mark Jackson; Chris Smith.
If the agency’s median consumer has $3 million in manageable property, he defined, they’re focusing on purchasers within the $5 million vary. And when their median consumer reaches $5 million, they’ll be courting households with greater than twice that quantity.
“The extra we will go up-market, we discover these households have extra refined planning wants which are a greater match for our talent set,” Henley mentioned, including that it additionally is smart from a capability standpoint. “You may solely deal with so many households. In case your common consumer is $2 million, you in all probability shouldn’t be onboarding a bunch of $1 million purchasers—however I see it occurring on a regular basis.”
Brooks and Henley mentioned they left positions at Merrill Lynch—the place every spent greater than a decade—as a result of they discovered they have been unable to provide goal and unconflicted recommendation below the captive wirehouse mannequin. They based Brandywine Oak with Chairman Steve Maconi, Tracy McGuire and Mark Jackson, all Merrill Lynch expats with 75 years of expertise between them.
“We’re now able to be on the identical aspect of the desk because the purchasers,” Henley mentioned. “And we’re younger; we have now an extended runway forward of us and in the end didn’t need to be trapped into sure funding merchandise, sure recommendation, et cetera.”
One of many companies included on WealthManagement.com’s RIA Edge 100 listing, created in partnership with Discovery Knowledge, Brandywine Oak has grown at a considerably quicker tempo than its extra established friends, whereas additionally sustaining an above common client-to-advisor ratio and investing in skilled certifications.
In just some brief years, the agency has added and expanded companies and capabilities by means of considerate additions, ongoing skilled improvement and a proactive staffing coverage to handle progress.
In addition to monetary planning companies, Brandywine Oak presently presents funding administration, retirement planning, tax planning and preparation, insurance coverage and property planning, entry to sure banking companies and ongoing monetary training. The agency has native legislation and insurance coverage companies on retainer to supply the related experience and obligatory paperwork—however introduced taxes in-house 18 months in the past, launching an adjoining follow with CPA Chris Smith and three workers.
“That has been an enormous differentiator when it comes to aggressive benefit,” mentioned Henley, noting that the tax follow constantly units the agency other than Merrill Lynch and Wells Fargo, in addition to bigger RIAs like Inventive Planning.
“What we underestimated,” he added, “was the overwhelming variety of purchasers that wished to instantly swap over to having their taxes executed. We anticipated round 10% within the first 30 days, and it ended up being nearer to 40%. So, it was lots, nevertheless it was actually a game-changer.”
Each below the age of 40—together with 80% of the agency’s employees—Henley and Brooks venture a cushty administration dynamic that deserves credit score for at the least a few of their success.
“Michael is the agency’s visionary,” mentioned Brooks. “He works with our most refined purchasers and comes up with all these concepts which have actually been key to our progress.”
“And Alison is aware of how one can execute on these concepts,” Henley mentioned.
That co-management philosophy extends all through all the agency. Every consumer is roofed by at the least one lead advisor and two devoted associates and has entry to all of the experience and expertise Brandywine Oak has to supply.
“None of our advisors have their very own purchasers,” Henley mentioned. “They’re all purchasers of all the agency and that’s vital.” He defined that the mannequin permits his employees to stay extremely concerned with every consumer whereas lessening the day-to-day workload for senior advisors who can focus their power on extra sophisticated duties for more and more refined wants.
Inside group constructing can also be an essential exercise at Brandywine Oak, he mentioned—and an excellent enjoyable one with a predominantly millennial employees. One latest tour took all the agency to the Porsche Expertise Middle in Atlanta, Ga.
“We had all
