The Diamond Podcast for Financial Advisors Life After Goldman Sachs: A Story of Extraordinary Success
May 28, 2020
Justin Berman, founder and CEO of Berman Capital Advisors, shares his intriguing journey from Goldman Sachs to creating a successful independent firm managing nearly $3 billion. He discusses the daunting experience of garden leave and the motivation from family bonds that drove his departure. Justin reveals insights on client retention and the importance of ethical practices, detailing how he reassured clients while navigating Madoff-era fears. He also touches on innovative client communication during COVID and his strategic growth plans for the future.
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From Goldman Employee To Founder
- Justin left Goldman in 2011 to start Berman Capital Advisors after seven years at the firm.
- He built the firm into a multifamily office serving high-net-worth families and nearing $3B AUM.
Entrepreneurship Vs Corporate Safety
- Justin says true entrepreneurship requires ownership beyond a corporate safety net.
- He left to control decisions and to align entirely with clients' best interests.
Ask Mentors For Introductions
- Call mentors and ask for introductions to managers and strategies you want access to.
- Use due diligence and relationships to gain fund access as an independent advisor.