Ep #116: Building a Business Under a Large Firm Umbrella - The Careers of Andrew Damcevski and Devon Klumb

Building a new business is always a lot of work. This didn’t deter Andrew Damcevski and Devon Klumb from starting their practice, quickly adjusting, and putting it in the perfect position to succeed. By becoming part of a bigger firm, their business has been able to see a large amount of growth and they are able to reach the type of customers they are passionate about serving.

Andrew and Devon join in on this episode to spread some inspiration and great information about the unique way they structured and grew their business. They fill us in on how their three-advisor team with separate specialties works together to serve clients in a dynamic and truly helpful way. They also share how the merging process worked out so well for them and what it’s like to work with people who share their passion and values for running an ethical business and truly helping people.

Listen to the Full Interview:

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What You'll Learn from This Episode:

• Why they chose to join with a larger firm and how it adds value to their business.
• Why many small RIAs fail and what they did to avoid it.
• Why most larger RIAs are not able to work with the under smaller accounts and how they are able to reach that unique market.
• How their team of three advisors with different specialties work together to provide more value to their clients.
• What is behavioral finance and why is it relevant and important.
• Why real relationships with clients are crucial to the advising partnership and the future of the company.
• How the difference in culture and motive where they work had effected their business and clients.
• Why price transparency and fairness is so important to them.
• The importance of not wasting time, taking risks and not getting too comfortable.

Featured on the Show:

• Andrew Damcevski and Devon Klumb
• Rhinevest: Blog |Twitter| Facebook
• Truepoint Wealth Counsel
• Northwestern Mutual
• TD Ameritrade
• CFA
• CFP
• BFA
• Kaplan University
• Think 2 Perform
• Brad Felix
• Betterment