The Diamond Podcast for Financial Advisors Building a Multi-Family Office: How an Ex-Goldman Advisor Experienced Autonomy and Growth in Independence
May 26, 2022
Gary Hirshberg, Founder of Aaron Wealth Advisors and former Goldman Sachs advisor, shares his inspiring journey to independence. He discusses how a desire for true fiduciary advocacy prompted him to leave Goldman. Gary emphasizes the importance of building deep relationships with ultra-high-net-worth clients and creating a multi-family office model that prioritizes their needs. He reflects on the challenges of transitioning while maintaining client trust and the freedom of choosing tech partners to enhance service offerings. His vision for growth includes elite advisor recruitment and a focus on ethical practices.
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Leaving Goldman To Build His Own Brand
- Gary Hirshberg left Goldman Sachs in 2018 to build Aaron Wealth Advisors after questioning his ability to fully act as a fiduciary at Goldman.
- He wanted to build a brand that would be associated with his values rather than the firm’s name.
Retail Shift Undermines Ultra‑High‑Net‑Worth Focus
- Gary saw Goldman's shift toward retail as a threat to serving ultra-high-net-worth clients effectively.
- He believed independence would preserve advocacy and avoid product-driven conflicts.
Use Counsel To Preserve Confidentiality
- Protect confidentiality during exploration by using counsel to gather information discreetly.
- Validate advisors' processes before revealing your identity or intentions.