Welcome to our ongoing series that answers your questions. This week, we asked Greg your question about his retirement plans. Here is his answer. Send us your questions at firstname.lastname@example.org and feel free to comment below!
Question: When is Greg retiring?
Answer: I have no plans to ever retire. You never know what life event may change my perspective, though. If I ever get to the stage where I am not making a solid contribution to the clients and the team, I will step down.
I enjoy working with our clients and team members. I’m excited about what we’re doing at Wambolt & Associates and the changes we’re making to the firm. I am actively engaged in leading the firm. That said, nothing stands still. My role has changed, and continues to change. I’m currently focusing on developing what the firm will look like in two to three years through recruiting and training talent. I continue to actively focus on vetting investment tax strategies and structures that can benefit our clients now and into the future.
I am also working to ensure that the firm, Wambolt & Associates, continues uninterrupted regardless of what health or age may bring to me personally. The firm has an internal succession plan. We’re bringing in new talent of all ages to the firm. We’re expanding our specialty areas to give you more options and tools to solve more problems (opportunity funds and historic easements are just two such opportunities new to the menu).
We have excellent leadership in place and a strategy built for longevity. Our goal is to be the ‘right size’ for our clients. Too small and we wouldn’t be able to bring all the strategies and tactics our clients need. Too big and our firm would become disjointed. At the right-size, we’ll be able to stay a boutique, independent advisory firm, working in a fiduciary capacity, directly for the client.
We are already positioned where the rest of the industry is attempting to go. Only a small percentage of the wealth management industry looks like our firm currently, offering a comprehensive, integrated and independent approach to wealth management. We know every financial decision has tax and legal implications. Our approach addresses each of these three disciplines as we help build financial plans and wealth management strategies that deliver better outcomes for our clients. Please contact us for a consultation to see how we can help you.