Isaiah Green recently stopped by the office of Heron Wealth in mid-town Manhattan. Here are his impressions:
I swapped my airline boarding pass for a MetroCard as I met with RIAs on my own turf to discuss new hires, fintech solutions and handling whatever the market throws at you.
To start my day, I headed no further than a few floors above Citywire’s humble abode, to the office of Shikiar Asset Management, where I met with managing director Samuel Shikiar.
For my next meeting, I hopped on the seven train to the east side of Manhattan to sit down with David Edwards, founder and president, and Chris Jennings, wealth advisor at Heron Wealth.
Edwards, Jennings and their team work out of a sleek, modern WeWork in the heart of New York with spectacular views of the growing skyline and the East River.
The $378 million RIA offers a full-service wealth advisory platform that includes financial planning, tax, estate and philanthropic planning, in addition to overall investment management. The lean, mean team (at least that’s how they describe themselves!) of six leverages technology to handle 175 client relationships and manage more than 500 individual portfolios.
The firm offers a progressive account minimum schedule that takes into account both a client’s level of investable assets and age. For example, clients aged 35 and under can use Heron’s investment management services regardless of the size of their investable assets. However, clients over the age of 40 must have a minimum account size of $250,000 in assets. Anyone aged between 45 and 50 must have $500,000, and anyone who has hit the big five-oh must have at least $1 million.