Russ Prince

New York

Private Wealth Consultant and Writer at Freelance

Editor-at-Large at Financial Advisor

Founder at Private Wealth

Columnist at Elite Traveler

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Articles

Unlocking The Extraordinary Exit

1 week ago | fa-mag.com | Russ Prince

As a managing director at STS Capital Partners, Michael Smith leverages his experience as an entrepreneur and technologist to drive marketing and business innovation strategies. His 40 years of operational experience working with over two thousand clients enable him to guide clients towards achieving their "extraordinary exits." Russ Alan Prince: Michael, you've had an incredible journey from entrepreneur to managing director at STS Capital Partners. What motivated this transition?
How Vanguard Is Helping Under-Served Americans Increase Retirement Savings

2 weeks ago | fa-mag.com | Russ Prince

Steve Holman has been a leader in Vanguard’s retirement business since 2004. He currently serves as principal and head of Vanguard’s Workplace Solutions Distribution Enablement division, which aims to enhance the productivity, impact and consistency of the firm’s institutional client-facing teams.
Crescent Grove's Decade Of Purpose-Driven Growth And Innovation

2 weeks ago | fa-mag.com | Russ Prince

Gregg George, founder, managing director, and senior client advisor of Crescent Grove Advisors, specializes in collaborating with C-suite executives, entrepreneurs and business owners to coordinate the development and implementation of highly customized financial solutions. Russ Alan Prince: Crescent Grove Advisors recently celebrated 10 years of independence, during which the firm has grown threefold, recently surpassing $5 billion in AUM. What were the key drivers behind that growth?
How To Build A Pipeline Of Ultra-Wealthy Clients

2 weeks ago | fa-mag.com | Jerry D. Prince |Russ Prince

If you want to work with individuals and families whose net worth is $30 million or more, the best way to connect with them is through centers of influence (COIs), typically accountants and trusts and estates (T&E) attorneys. While many wealth managers are aware of this reality, they face several challenges. Some find it difficult to locate accountants or T&E attorneys who work with ultra-wealthy clients, and many struggle to form strategic partnerships with them.
In 2030, A Revitalized Wealth Squad Will Be A Major Profit Center

3 weeks ago | fa-mag.com | Russ Prince

A billionaire asked me to review a tax mitigation strategy he had been presented with. While it's not always billionaires seeking a second opinion, this is happening more frequently. Although I’m not a technician, I have a team of experts for this purpose. However, based on what he shared with me, it made a lot of sense to investigate further. Whenever you hear about complex partnerships, non-profits and a significant amount of nearly free life insurance, it’s wise to seek a second opinion.
7 Reasons Not To Create A Private Family Foundation

3 weeks ago | fa-mag.com | Russ Prince |Homer Smith

Creating a private family foundation offers affluent families a structured way to direct their philanthropic efforts and establish a lasting legacy that aligns with their values. However, this endeavor also poses a unique set of challenges. Understanding the obstacles and potential rewards is essential for families contemplating this path. Reason #1: High Setup And Maintenance Costs The initial and ongoing expenses of establishing a private family foundation can be significant.
3 Characteristics Required To Create A Pipeline Of HNW COI Referrals

3 weeks ago | fa-mag.com | Russ Prince |Brett Van Bortel |Jerry D. Prince

After three years, a wealth manager with about $100 million in AUM has quintupled that amount. Less than two years later, it reaches $1 billion in AUM. A two-person wealth management team with nearly $500 million in AUM has grown to almost $2.5 billion in three years. A life insurance producer earning nearly $400,000 annually triples her earnings in less than a year and a half. These results arise solely from organic growth.
Redefining Access To Elite Alternatives For RIAs And Family Offices

1 month ago | fa-mag.com | Russ Prince

Adriana Tullman is managing partner and head of capital markets at Peak Altitude Partners (“PeakAlts”). She focuses on driving growth and building lasting relationships with RIA, family office and multi-family office partners. Russ Alan Prince: Could you share more about the launch of PeakAlts and how the firm distinguishes itself from other alternative investment offerings?
What Investors Need To Know About Climate Investing

1 month ago | fa-mag.com | Russ Prince

Jim McDermott is a seasoned entrepreneur, investor and climate solutions advocate who has been launching, funding and scaling climate technology firms for over two decades. As the co-founder and managing partner of Rusheen Capital Management, McDermott specializes in scaling companies and innovations that address the climate crisis, focusing on clean energy, sustainability and carbon capture technologies.
Most M&A Multiples Will Decline By 2030

1 month ago | fa-mag.com | Jerry D. Prince |Russ Prince

Whether a wealth management firm is merging with another or if larger entities, such as RIA aggregators, are acquiring wealth management firms to lower costs and capitalize on their acquisitions, the multiples for these firms remain high and may continue to rise. However, that is, until the music stops, as it inevitably will within a few years. The music will stop as it becomes clear that many “promises” of selling or merging wealth management practices are largely illusory.