SageSpring Private Wealth's Winston Justice - from protecting star quarterbacks to protecting families' wealth
Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets
Understanding True Fiduciary Relationships and Client Education
This chapter explores SageSpring's distinctive fiduciary model that prioritizes client interests, distinguishing them from conventional financial advisory firms. It emphasizes the necessity of educating clients on the significance of true fiduciary relationships and the implications of such partnerships.
Welcome back to the Alt Goes Mainstream podcast.
Today’s podcast is with an elite performer on and off the field who has gone from protecting quarterbacks to protecting families’ wealth.
We sit down with former NFL and USC star Winston Justice, whose entrepreneurial spirit that was stoked while he was still playing in the NFL has led to a successful and impactful career in wealth management.
He was recently named CEO at SageSpring Private Wealth, a $7B independent wealth management firm, as they look to grow organically and inorganically and expand their offerings in private markets for their clients.
A former NFL offensive lineman, Winston played for the Philadelphia Eagles, Indianapolis Colts, and Denver Broncos from 2006 to 2015. He also co-founded an early stage investment vehicle, MJC Capital, and Elixr, a gourmet café and coffee roastery, while he was playing. He also won 2010 Walter Payton Philadelphia Man of the Year Award for his community service.
He transitioned into financial services and wealth management post-career, starting at Wells Fargo Securities, where he specialized in institutional and family office advisory. He then was a portfolio manager at PIA’s Alternative Investment Group, and then an investment Manager at AllianceBernstein.
Winston and I had a fascinating conversation. We discussed:
- The parallels between sports and finance.
- How Winston navigated the transition from professional athlete to a finance professional.
- What stoked his entrepreneurial spirit.
- Why wealth management is so critical to people’s lives.
- Why culture fit is so important when integrating advisors into wealth management platforms through acquisition.
- How private markets can add to an advisor’s practice.
Thanks Winston for coming on the show to share your story, wisdom, and expertise.
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Show Notes
00:04 Our Sponsor, Juniper Square: Revolutionizing Fund Management
00:30 Empowering GPS with Juniper Square
00:38 Juniper Square's AI Innovation
00:51 Scaling Your Business with Juniper Square
01:37 Welcome to the Alt Goes Mainstream Podcast
01:40 Introducing Winston Justice
03:35 Winston's Background and Early Life
03:49 College Years and Initial Business Ventures
03:59 Realization and Transition to Finance
04:10 Starting a VC Fund and Coffee Shops
04:31 Transitioning from NFL to Finance
05:04 Winston's Career at Wells Fargo and Beyond
05:17 Immersing in Wealth Management
07:01 The Sacredness of Financial Management
07:50 Importance of Wealth Management
08:04 Private Markets in Wealth Management
08:19 Early Lessons in Wealth Management
09:10 Transferring Values and Knowledge
09:32 Managing Assets Beyond Numbers
10:19 Combining Finance and Mission
12:11 Mentoring Advisors at SageSpring
12:43 Skill Sets for SageSpring Advisors
12:51 Client Focus and Community Leadership
14:01 Balancing Client Delivery and Business Growth
14:56 Impact of Growing AUM
16:10 Testing Advisors' Commitment
16:55 Business Constructs in Wealth Management
17:43 Division of Labor in Wealth Management
18:52 SageSpring's Unique Approach
19:53 Client Understanding of Fiduciary Role
20:41 Trust in Financial Services
21:17 Sophistication in Choosing Investment Partners
21:57 Role of Relationship in Financial Services
22:30 Evaluating Investment Opportunities
23:44 Partnership with Dynasty Financial
24:43 Customizing Investment Solutions
26:44 Educating Wealth Managers on Private Markets
27:00 Benefits of Alternatives in Portfolios
30:48 Effective Storytelling in Investments
32:13 Future of Wealth Management Industry
33:08 Client and Advisor Service in Wealth Management
34:55 Favorite Private Markets Investment
37:18 Conclusion and Final Thoughts
Editing and post-production work for this episode was provided by The Podcast Consultant.
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