What does it take to build a nearly $3 billion investment firm over four decades?
In our very first episode of Long Story Short, we sit down with Lowell Pratt, President of Burney Company, for an intimate conversation about his 40-year journey from IT support to firm leadership.
We cover:
- How Burney Company became a beta firm for Advent Software in the 1980s
- The military culture that shaped the firm's foundation and still drives it today
- Lessons from legendary mentors Jack Burney and Ted Rosenberg
- Why performance still matters in an industry that's given up on beating the market
- The transition from managing a handful of $50K accounts to overseeing nearly $3 billion
- How AI represents both the biggest opportunity and risk facing advisory firms
⏱️ Timestamps:
- (0:00) Welcome & introducing Lowell Pratt
- (1:35) How Lowell joined Burney as the original IT guy
- (2:48) First impressions: A firm beating the S&P by 2-to-1
- (4:48) Mentorship from Jack Burney and Ted Rosenberg
- (6:06) Military culture and "truly magnificent" leadership
- (10:14) The transition to owning client relationships
- (13:24) Advice for younger advisors: Become an owner, keep the passion
- (15:27) 50 years of change: From paper records to $3 billion
- (18:55) What clients really want: Peace of mind above all
- (21:17) Looking ahead: AI as the next great disruption
- (23:01) Core values that will never change
#WealthManagement #InvestmentAdvisors #FinancialPlanning #BurneyWealth
The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.
