We thank our clients for our organic growth
Every year, Financial Advisor magazine ranks the nation’s RIAs (Registered Investment Advisors) according to their assets under management, or AUM. We are proud to have made the list for the first time in our history, leaping into the asset category of ‘$500 million to <$1 billion.’
It’s a level of growth we’re delighted to achieve, but perhaps for very different reasons than many of our industry counterparts. Here are three reasons we believe our growth sets us apart from the crowd—and why our client family continues to expand at such a rapid pace:
- Our growth is 100% organic.
If you follow the financial press industry at all, you have likely noticed the extreme uptick in mergers acquisitions. It’s a trend that has shifted the RIA world as we know it. In the article announcing this year’s ranking, an attorney shared that even before Covid-19 he saw “small RIAs having ‘stupid money’ shoved in their faces from aggregators wanting to acquire clients and assets… even if the advisor didn’t want out of the business.” Acquisitions have bolstered AUM at many firms, but at a significant cost to their clients. One firm buys another and the keys are handed over, along with the clients and their millions in assets. And though the new firm is bigger, it’s not often better for the client who, instead of calling their trusted advisor, must now learn a host of new names, or worse, face a dreaded 1-800 number. It’s growth for the sake of growth.
At LCM, growing our AUM has been a purely organic process. At the time of this year’s ranking, we reported $664 million in assets under management (AUM). As of July 30, 2023, that number jumped even higher to a record $715 million. One of the key drivers of that growth has been the work we do every day to earn our clients’ trust. Thanks to your confidence in us, you have referred us to your friends, family members, and colleagues over and over again. The same is true for the lawyers, accountants, and estate planning professionals we collaborate with to meet your needs. Plus, you can trust that we are not handing over the keys to our business or our client family to anyone. We have a solid succession plan in place, so you can rest assured you won’t be dialing 1-800 to reach us—ever.
- Our focus is on the success of our clients.
Rather than growing for the sake of growth, we have grown our AUM by focusing entirely on your success. Every decision we make is for the benefit of your financial health and your portfolio. Our investment decisions are made in-house by our own investment committee, and the members of that committee are your personal advisors. This is in stark contrast to large, multinational firms who demonstrate a critical disconnect between the teams that make their investment decisions and the advisors that work one-on-one with their clients. At LCM, our traders have direct lines of communication with our advisors, and our trades are selected based on sophisticated software and, importantly, our manual review of every account—something that is simply not feasible at behemoth financial organizations. Even where we chose to move when we outgrew our original office space was based on convenience to you—just a few floors up in the same freeway-accessible building you know well. Everything we do is for you. It’s that simple.
- Our team is entirely homegrown.
From the start, our strategy has been to grow our team like a family. Marr, Gideon, and Ray joined together in 2002 with a singular mission of growing and protecting every client’s assets by working in their best interest. Marr persuaded John to come on board in 2010 to support marketing and client development, followed by Patrick and Avery who both began at ground level. Patrick joined LCM as an intern back in ’06, was hired as an analyst in ’07, and is now a Principal and Senior Investment Officer with a growing group of dedicated clients. Avery joined us as an analyst in 2019, immediately became part of our Investment Committee, and was promoted to Investment Advisor in 2022. On the client service side, Sandra has been with us since the early days, Christina joined us from Charles Schwab in 2015, and Barb, the newest member of our team, joined in 2021. Today, our small team consists solely of individuals who were introduced to our processes, thinking, and clients from day one and who have truly come into their own as highly trusted professionals. Having amazing people represent us in every area of our business has opened the door, literally, to working with more amazing clients than ever.
Yes, we’re proud to be named among America’s highest-ranking RIA firms. What we’re most proud of, however, is what brought us here: the faith and trust of our clients. As we continue to grow, the fundamentals of what we do and why we do it will remain constant. Investment decisions will be made in-house, in your best interest, by our experienced investment committee. When you call our office, you will reach someone who knows you by name. And you will always have a personal relationship with an advisor who understands the nuances of your finances and the details of your portfolio, and who will offer guidance that is best for you. At LCM, that is how we will continue to serve you—today, tomorrow, and always.
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