Barron's Advisor Tom Klingman: The Best Things About Independence | Next Gen
Jul 17, 2025
Tom Klingman, managing partner of Klingman & Associates, shares insights from his extensive experience in managing wealth for high-net-worth families. He discusses the power of independence in driving innovation and change without bureaucratic constraints. Klingman reflects on the unique challenges of generational wealth transfer and underscores the importance of strong client relationships. He also touches on navigating family dynamics within financial advisories and emphasizes the value of collaboration and personal growth in leadership roles.
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Tom's Career Journey
- Tom Klingman shares his personal journey from working in investment banking to joining his father's independent RIA firm.
- He highlights the contrast between transactional banking and relationship-driven wealth management.
Benefits of Independence
- Being an independent RIA allows nimbleness and no red tape, letting advisors drive innovation and tailor client solutions.
- Independence helps remove conflicts and lets the firm choose technology and custodians best suited for client needs.
Use AI for Efficiency
- Use AI to boost efficiency in tasks like note-taking and manual account updates without fully automating core business functions.
- Find small scalable improvements to drive productivity and ease workload on your team.