Many advisors come to us seeking a clearer picture of what the journey to independence is “really” like. That is, beyond the hype and the headlines—focusing instead on the mindset, motivation and processes an advisor goes through before, during and after he makes the leap. So Mindy Diamond reached out to Matt Celenza from Boulevard Family Wealth, a multi-family office managing approximately a billion dollars for ultra-high-net worth clients, which he founded in July of 2017.
In our candid interview, this 20-year wirehouse veteran shares extraordinary insights from his journey to independence. He discusses how his genuine desire to have complete freedom to build his business and service his clients as he saw fit became the driving force behind his successful move—and how that excitement trickled down to his clients.
To “own something,” as he noted, is the dream of so many entrepreneurial folks. So if that’s where your mindset is, as Celenza said, “Take the time now to get educated and explore.”
Diamond’s conversation with Celenza addresses these questions and more:
- What were the major catalysts that drove you to independence?
- How did your clients—especially sophisticated UHNW—react to your decision? Were they concerned about you leaving the big brand name behind?
- How did you justify giving up the short-term pay-off of a retention or transition deal?
- Why did you go the RIA route as opposed to becoming an independent broker/dealer?
- What are some things you are able to do—or anticipate doing—that you couldn’t do as an employee of a brokerage firm?
- What was going through your mind the day you actually resigned from Merrill?
- What can you tell other advisors who are considering independence?
- This is a rare opportunity to sit in on a “real” conversation that offers valuable information for advisors who, like Matt Celenza, desire greater freedom and flexibility in servicing clients, growing a business and ultimately maximizing its enterprise value.
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