News & Awards
Read the latest news about KAR.
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In his recent Q+A with ThinkAdvisor, Dustin Gale, CFP®, CPWA® discussed the biggest challenges facing advisors today, his volunteer work with Project ECHO (Entrepreneurial Concepts Hands On!), his approach to wealth management and much more.
Highlights from the Q+A:
What do clients need most from advisors, given the current market and economic conditions?
Communication that’s tailored to their specific objectives, goals, needs and circumstances.
Clients need a good grasp of what’s going on financially [in general], so that when they see volatility spiking or a lot of big [negative] headlines, they know not to panic too much.
Your firm uses alternative investments. Do you ever recommend them to your clients?
Yes, either as a customized approach to reduce volatility or provide more consistent income as a diversifier away from traditional fixed income. It depends on the scenario.
What else differentiates your practice?
I’ve had quite a strong background in credit on the bank side. I have the ability to look at both sides of the balance sheet and talk about credit opportunities with clients.
Tell me more about your role in the [Project Echo] program.
Youths create their business ideation and business plan, work on their pitch and present to a roomful of entrepreneurs and [other] professionals.
We have a mix of at-risk youths and other students who have had more advantages and opportunities.
Read the full conversation: Helping Millionaires Next Door Build Their Assets and Spend Them
The ThinkAdvisor Luminaries Community Impact award will be announced in November 2023 and will cover the year 2023. KAR has not paid fees to participate in nomination for the award.
Alternative products can carry additional risks including liquidity and credit risk. Some alternative products may only be available to accredited investors and/or qualified purchasers. Please consult with your financial professional for definitions of accredited investor and/or qualified purchaser. Certain credit opportunities, including margin loans, may not be suitable for all clients and carry risks including risk of unlimited losses and incurrence of margin interest debt. Please consult with your financial professional to learn more about the risks associated with alternative products and credit opportunities, including margin loans, to determine whether these products are appropriate for your financial circumstances and risk tolerance.
The information provided here should not be considered to be insurance, legal, or tax advice and all investors should consult their insurance, legal, and tax professionals about the specifics of their own insurance, estate, and tax situations to determine any proper course of action for them. KAR does not provide insurance, legal, or tax advice, and information presented here may not be true or applicable for all investor situations.
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Kayne Anderson Rudnick (KAR) announced today that it has ranked eighth on Forbes’ ‘Top 100 RIA Firms’ list for 2023, marking the second consecutive year KAR has ranked within the top 10.
“Kayne Anderson Rudnick takes great pride in this recognition as it offers a small glimpse into how important the client experience is to its employees,” said Stephen A. Rigali, KAR Executive Managing Director. “We recognize that in a competitive landscape, and an uncertain economic environment, client service must come above all else.”
This ranking considers quantitative metrics such as revenue, assets under management, portfolio performance and client related data, while also reviewing qualitative data through virtual interviews, compliance records and community involvement, among other varying factors. According to R.J. Shook, President of Shook Research, this allows measurement of processes that are inherent in each client relationship, team purpose, and underlying culture throughout all levels of employees.
For more information on the ranking, visit: https://www.forbes.com/lists/top-ria-firms/?sh=2e0c219d3cd5
Kayne Anderson Rudnick also appeared on the Forbes ‘Top Next-Gen Wealth Advisors Best-In-State’ and ‘Best-In-State Wealth Advisors’ lists for 2023.
The Forbes 2023 Best-In-State Wealth Advisors ranking was issued in April 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings and has not paid fees for a license to reprint and distribute the results of the rankings.
The Forbes 2023 Next Gen Best-In-State Wealth Advisors ranking was issued in August 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings and has not paid fees for a license to reprint and distribute the results of the rankings.
The Forbes Top RIA Firms 2023 ranking was issued in October 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings.
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In a recent Citywire special, Andrew Grant, Director of Manager Research, shared his view on the 60/40 portfolio allocation model and why it may need some adjusting. Andrew also discussed the role of fixed income in portfolios and why it “looks more compelling when paired with an allocation to alternatives.”
Read the special report: https://bit.ly/46jOlCl
For information on our fixed income investment services, check out this page: https://kayne.com/wealth-management/fixed-income-services/
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The Certified Financial Planner (CFP) designation signifies expertise in financial planning, demonstrating a commitment to high ethical and professional standards. Obtaining this certification involves a rigorous two three-hour session exam over the course of a day. Senior Wealth Advisor and CFP instructor at University of California, Irvine, Brian Chang, CFP®, CFA shares his advice with Barron’s Advisor’s The Big Q on how to best prepare for taking the exam.
He shares his tactic for addressing multiple choice responses citing that “if you’ve done the studying, you will know that certain responses are clearly wrong. Getting those out of the way narrows down your choices.”
Brian also notes that “when it comes to the actual CFP content, it’s a lot of breadth and a little bit of depth” so while there are a lot of topics covered, it does not necessarily mean that you need to delve deeply into each subject.
For more, check out the article here: https://www.barrons.com/advisor/articles/the-cfp-exam-is-brutal-5-pros-offer-their-best-tips-for-acing-it-cee177f8
Access to this article requires registration or a subscription.
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This is the eleventh consecutive year Powell, a Barron’s ‘Hall of Fame’ advisor, and the KAR team have ranked within the top 10, including five years ranked first overall (2017-2020, 2022).
For more information on the ranking, visit: https://www.barrons.com/advisor/report/top-financial-advisors/independent/2023?page=1&
“We are humbled by the consistency our team has displayed, again ranking highly on this prestigious list,” said Stephen A. Rigali, Executive Managing Director at KAR. “We believe the team’s unwavering commitment to understanding each client’s unique financial objectives and consistently earning their trust has been pivotal in delivering optimal experiences.”
In addition to varying qualitative factors, this ranking takes into consideration the amount and types of assets the advisor manages, the growth of the advisor’s practice, and their client retention.
Since 1984, KAR has provided its clients with comprehensive wealth advisory services. Today those services include financial planning, executive services, investment advisory, and investment consulting, all customized to meet clients’ goals and address their unique situations.
KAR’s Wealth Advisory team also appeared on the following industry lists over the course of the last 12 months: Barron’s 2023 ‘Top 1,200 Advisors by State,’ Forbes 2023 ‘Top Next-Gen Wealth Advisors Best-In-State,’ Forbes 2023 ‘Best-In-State Wealth Advisors’ and Forbes 2022 ‘Top RIA Firms.’
This information is being provided by Kayne Anderson Rudnick Investment Management, LLC (“KAR”) for illustrative purposes only. Information in this article is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date listed on the correspondence, and KAR does not undertake to update the information presented. This information is based on KAR’s opinions at the time of publication of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein.
Past performance is no guarantee of future results.
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Senior Wealth Advisor, Kevin O’Regan, CFP® CIMA®, shares his insights on how the changing tax landscape could impact an individual’s or couple’s estate. Discover how he’s helping clients plan ahead for the end of the TCJA which sunsets in 2025.
Read the Wall Street Journal article: Tax Moves to Consider Now where you’ll learn about what advisors are saying about the potential effects on income taxes, estate taxes, gifts, and charitable giving.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Brian Chang, Senior Wealth Advisor, has been recognized as a ’40 Under 40’ honoree by the Greater Irvine Chamber of Commerce for 2023. This award program highlights the next generation of business leaders and advocates who are making strides in their industries and the business community in Orange County.
For additional information on this award and the full list of honorees, visit: https://greaterirvinechamber.com/signature-events/40-under-40
“The Executive Committee would like to congratulate Brian on this well-deserved honor acknowledging his transformative and far-reaching contributions both to our firm and Orange County,” said Stephen A. Rigali, Executive Managing Director. “Brian’s dedication to Kayne Anderson Rudnick, his clients and his local community are indicative of the type of person and professional he embodies.”
According to the award program’s methodology, each honoree brought innovative and effective practices to their organization, made a positive impact in their industry, and has contributed their time and expertise to charitable organizations, youth programs, education, volunteer opportunities, etc. throughout their career.
The Greater Irvine Chamber is one of seven chambers in California, and one of 120 in the nation, to have a 5-star accreditation from the U.S. Chamber of Commerce. Only 1.7% of all chambers in the U.S. currently hold this distinction which recognizes high quality, expertise, and strong leadership.
The Irvine Chamber of Commerce 40 Under 40 awards were announced in September 2023 and cover the year 2023. KAR has not paid fees to the award sponsor to obtain the award or to license use of the logo.
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Director of Manager Research and Investment Solutions Andrew Grant discussed how higher interest rates are leading individuals to select more conservative securities. Andrew highlights that it’s hard to get people out of cash when it’s paying well on the short end. For more, read The Wall Street Journal article here: https://bit.ly/3PPw6ij
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Julie Biel, CFA shared how the Fed might keep rates elevated based on last week’s inflation data. Julie highlights that it bolsters the idea that we may be higher for longer because there are pockets that are stubbornly high. For more, read the full The Wall Street Journal article: https://bit.ly/44S5mBL
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Kevin O’Regan has been recognized as a Forbes ‘Top Next-Gen Wealth Advisor,’ ranking 47th within the state of Massachusetts for 2023.
For the full ranking and additional information on this award, visit: https://www.forbes.com/lists/best-in-state-next-gen-advisors/?sh=6db64e175fc3
“Kevin is able to offer clients confidence that they are receiving a thoughtful, personalized experience, even during turbulent markets, through his highly communicative practice,” said Stephen A. Rigali, Executive Managing Director. “This style of practice separates Kevin from the competition and is reflective in this prestigious honor.”
According to R.J. Shook, President of SHOOK Research, the Forbes Next-Gen Wealth Advisors rankings, is based on an algorithm of qualitative criterion—mostly gained through telephone, virtual, and in-person due diligence interviews—and quantitative data. Advisors that are honored are considered to have a minimum of four years’ experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass the highest standards of best practices.
The sixth annual Forbes ‘Top Next-Gen Wealth Advisors Best-In-State’ list features over 1,400 advisors, collectively managing assets of nearly $2.5 trillion.
The Forbes 2023 Next Gen Best-In-State Wealth Advisors ranking was issued in August 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings and has not paid fees for a license to reprint and distribute the results of the rankings.
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Many provisions of the Tax Cuts and Jobs Act (TCJA) will sunset at the end of 2025. How should you be preparing?
Senior Financial Planner Thomas Pontius responds in a recent Financial Advisor Magazine article: https://bit.ly/3E1JkkZ
Learn more about our tax planning services: https://kayne.com/wealth-management/our-services/tax-planning/
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From our perspective, a good financial plan can be used as a guidepost to create a well-balanced portfolio tailored to an investor’s specific needs. Wealth Advisor Tyler Sterk, CFP®, CPA discusses how clients should not rush into #investing without first creating a thoughtful financial plan.
Read the full article here: https://bit.ly/3NYhyvJ
At KAR believe investors should try to avoid the temptation of jumping into the stock market without first creating a detailed plan of attack. Instead, focus on creating a well-diversified portfolio and invest with clear goals and objectives.
To speak with one of our advisors, contact one of our offices today: https://kayne.com/wealth-management/contact/
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“We’re humbled to be recognized as a top 15 RIA by Financial Advisor Magazine for the second consecutive year,” said Stephen A. Rigali, Kayne Anderson Rudnick Executive Managing Director. “The perseverance that the entire firm exemplifies on a yearly basis, even during volatile years like 2022, is part of what distinguishes Kayne Anderson Rudnick as a premier RIA in the country.”
To be eligible for the ranking, firms must be independent registered investment advisors, file their own ADV statement with the SEC and provide financial planning and related services to individual clients. This survey does not apply to hybrid RIAs and corporate RIAs.
The Financial Advisor Magazine’s “RIA Survey & Ranking” List was published in July 2023 and covers the year 2023. KAR did not pay any fees to participate in the Financial Advisor Magazine ranking.
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Read Andrew Grant’s insightful Q&A featured in Private Wealth Financial Advisor Magazine where he highlights long-term opportunities in private credit and the qualities we look for in private credit managers. Gain valuable insights into his market outlook for the rest of 2023 and his strategies for navigating key risks. Check out the article here: https://bit.ly/3Oht1GT
Contact us to learn about KAR’s wealth management and investment advisory services.
This information is being provided by Kayne Anderson Rudnick Investment Management, LLC (“KAR”) for illustrative purposes only. Information in this article is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date listed on the correspondence, and KAR does not undertake to update the information presented. This information is based on KAR’s opinions at the time of publication of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein.
Past performance is no guarantee of future results.
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LOS ANGELES — July 10, 2023— Sam Waltman, CFA, CFP® Senior Wealth Advisor, has ranked on AdvisorHub’s “200 Fast Growing Advisors to Watch” list for 2023. Waltman was ranked 82nd out of the 200 honorees from over 374 nominations.
For additional information on the ranking and the full list, visit: https://www.advisorhub.com/advisors-to-watch-fastest-growing-2023/
“Sam’s ability to educate clients, no matter their level of experience, has proven to be advantageous during any type of market environment, but especially during the volatility we saw in 2022,” said Stephen A. Rigali, Executive Managing Director. “The Executive Committee congratulates Sam on this ranking, which recognizes how, through education, he has become successful by helping clients remain grounded without making emotionally driven decisions.”
As stated by the publication, this ranking is intended to “shine a light on advisors who have grown through uncertain markets.” This ranking’s criteria is based on the scope of practice measured by assets, production and level of service; growth of practice consisting of year over year growth in assets, households and production; and lastly, professionalism which includes regulatory record, community service and team diversity.
Contact our Salt Lake City office to speak with Sam. https://kayne.com/locations/wealth-management/salt-lake-city/
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‘Should wealthy clients delay taking social security?’ Senior Financial Planner, Thomas Pontius, CFP® shares the pros and cons of doing so, and the different factors that should impact decision making. Read more in the Financial Advisor Magazine article below: https://bit.ly/3pPfWel
Want to learn more? Check out our article on Understanding Social Security and Medicare.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Sam Waltman, CFA, CFP® discusses the importance of listening when couples are at financial loggerheads. Sam highlights that making sure both partners feel invited & welcomed at every meeting is crucial. Read his thoughts Financial Advisor Magazine: https://bit.ly/3qBvGSa
To speak with Sam, contact us: https://kayne.com/locations/wealth-management/salt-lake-city/
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Senior Financial Planner Thomas Pontius, CFP® shares his insights on Health Savings Accounts and the significant growth potential it can have over time in Jeff Stimpson’s Financial Advisor Magazine article: https://bit.ly/45NSVZt
Learn about KAR’s tax planning services or contact our office.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Strategic estate planning is one of the most important roles of an expert financial advisor. With rules and regulations changing often, it is important to keep up-to-date on both federal and state exemptions.
New Federal Tax Law Impacting Heirs is on the Horizon
Are you familiar with the significant estate and gift tax exemption changes in the Tax Cuts and Jobs Act (TCJA) of 2017 ? When it was enacted, it made substantial changes allowing lifetime estate and gift tax exemption for individuals to shield $11.18 million of the value of an estate up from $5.6 million and couples could protect $22.36 million up from $11.18 million, nearly double. Currently, the exemption stands at $12.92 million per person and $25.84 million for a married couple. But these were temporary changes.
After 2025, the 2017 TCJA will sunset certain tax laws that may affect how you plan your future estates. It will be imperative that you begin to take the steps for proper planning and estate administration before this takes place as these changes may cause you to redraft some important documents, including wills and trusts. For more information about these changes and the steps you can take to prepare, check out a new article in Financial Advisor Magazine written by Kevin O’Regan, Senior Wealth Advisor, who outlines how this new law will affect wealthy clients. Kevin O’Regan is an East Coast based senior wealth advisor at Kayne Anderson Rudnick with more than 16 years of industry experience.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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KAR is proud to announce that four of our senior wealth advisors have been named as Five Star Wealth Managers for 2023.
Los Angeles:
- Spuds Powell, Managing Director & Senior Wealth Advisor: 12th Year
- Curt Biren, Senior Wealth Advisor: 11th Year
- Dustin Gale, Senior Wealth Advisor: 4th Year
Orange County:
- Randy Allen, Senior Wealth Advisor: 4th Year
According to Five Star Professional, the program’s objective is to recognize wealth management professionals who “show a commitment to clients, demonstrate strong industry credentials, and are evaluated on the quality of their current practice.”
Spuds, Curt, Dustin, and Randy all have over 15 years of experience in the wealth management industry. The wealth advisory team at Kayne Anderson Rudnick has a wide range of experience in investment advisory, consulting services, executive services, and financial planning. We strive to use our customized and proactive approach to wealth management to help our clients achieve their financial and retirement goals. Contact our wealth advisors to hear more about the services they can provide for you.
For more information on the Five Star award and the research/selection methodology, go to https://www.fivestarprofessional.com/public/wmresearch. 3,629 Los Angeles-area wealth managers were considered for the award; 155 (4% of candidates) were named 2023 Five Star Wealth Managers. 2,576 Orange County-area wealth managers were considered for the award; 160 (6% of candidates) were named 2023 Five Star Wealth Managers.
Five Star Wealth Manager 2023. The Five Star Wealth Manager Award was given in May 2023 and covers the year 2023. KAR has not paid fees to the award sponsor to obtain or participate in the award. The firm has paid a fee to license use of the Five Star Wealth Manager Award logo.
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To read the full honoree feature, including individual profiles of Spuds, Darnel and Dustin, visit: LA Business Journal 2023 Visionaries Online Magazine
“KAR is thrilled that Spuds, Darnel and Dustin have been recognized once more as a leader in their respective field,” said Stephen A. Rigali, Executive Managing Director. “Their commitment to our clients and individual communities is what makes our distinguished team stand out, and is reflected not only in their work, but within this achievement.”
In order to be recognized, each honoree had to demonstrate continued success and accomplishments over the last 24 months. Qualitative characteristics such as leadership in and outside of the office within charitable organizations had also been considered.
The honorees profiled in this special edition of the publication were nominated by their colleagues and peers and selected by the publication’s stakeholders. Honorees represent commercial banking, investment banking, asset/investment management, lending, and private equity sectors as well as service executives across the legal, accounting and insurance sectors.
The LA Times B2B Publishing 2023 Visionaries honor was given in March 2023 and covers the year 2023. KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award.
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Thomas Pontius, CFP® shares what the wealthy should be prepared for with the possible end of provisions of the Tax Cuts and Job Act (TCJA) in Financial Advisor Magazine article.
“A surprise that many wealthy taxpayers won’t be expecting is potentially being subject to the alternative minimum tax again.” Pontius says.
Read the full article: https://bit.ly/40GDuiH
For information on KAR’s tax planning services, check out:
https://kayne.com/wealth-management/our-services/tax-planning/
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Carina Berlin, CFP® shares her insights on financial emergency preparedness – where to stash your cash & how the central point isn’t just security but convenience.
Read the full article for tips and more: https://bit.ly/3Kr2ljZ
To speak with Carina, contact our Los Angeles office.
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Revenue Ruling 2023-02 provides important guidance on the tax treatment of certain transactions, clarifying the rules and regulations for taxpayers. Senior Financial Planner, Thomas Pontius discusses the ruling and how it will impact affected wealthy clients and their estates. He shares with Financial Advisor Magazine how he is advising such clients.
Read Thomas’s insights: https://bit.ly/3Hs6FyD
Learn about KAR’s tax planning services or contact our office.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Spuds Powell, Managing Director and Tom Connaghan, Senior Wealth Advisor, have ranked on Forbes “Best-in-State Wealth Advisors” list within the state of California for 2023. Powell, ranked seventh in Los Angeles, and Connaghan, ranked second in San Francisco, were both recognized for their work with high-net-worth clients.
“Spuds’ and Tom’s consistent ranking on this prestigious list is an achievement in itself, though also an acknowledgment of exceptional work for their clients,” said Stephen A. Rigali, Executive Managing Director. “The Executive Committee congratulates them for this ranking that was earned during a turbulent year.”
For additional information on the ranking and the full list, visit: https://www.forbes.com/lists/best-in-state-wealth-advisors/?sh=336befc96ab9
The Forbes 2023 Best-In-State Wealth Advisors ranking was issued in April 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings and has not paid fees for a license to reprint and distribute the results of the rankings.
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Spuds Powell, Managing Director of Kayne Anderson Rudnick (KAR) Wealth Advisors, and the KAR Wealth Advisory team have ranked third within the state of California on the Barron’s Top 1,200 U.S. Financial Advisors by State list for 2023.
The three main components of this ranking include assets under management (AUM), revenue produced for the firm and quality of practice. Barron’s considered AUM and revenue as reputable indicators of client satisfaction, and quality of practice “is based on a constellation of questions aimed at evaluating an advisor’s character. These questions address regulatory records, professional experience, education, community involvement, and more.”
“Spuds Powell and the KAR Wealth Advisory team shined during a year riddled with economic uncertainty by prioritizing client communication and education,” said KAR Executive Managing Director Stephen A. Rigali. “This ranking is a reflection of the team’s dedication to strengthening client relationships through trust and transparency.”
For more information on this ranking, visit: https://www.barrons.com/advisor/report/top-financial-advisors/1000?page=1&.
Powell was also recently inducted into the Barron’s Hall of Fame and ranked #1 on Barron’s list of Top 100 Independent Financial Advisors for 2022. For more information on these recognitions, visit: https://kayne.com/news/kar-ranked-as-barrons-top-independent-advisor-for-2022
The Barron’s “2023 Top Advisor Rankings by State” was given in March 2023 and covers the year 2023. KAR has not paid a fee to participate in the rankings or for a license to reprint and distribute the results of the rankings.
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Dustin Gale, Senior Wealth Advisor, and Bridget Costello, Wealth Advisor were recently recognized as “Leaders of Influence: Wealth Managers” by the Los Angeles Business Journal for 2023.
The professionals featured in this issue were nominated by their colleagues and peers and chosen based on a demonstration of impact made on the profession and on the Los Angeles community. Nominations included information about their careers and practice and contributions to the local economy.
“On behalf of the executive committee we congratulate Dustin and Bridget on this special recognition for our firm, especially considering the ties to the Los Angeles area,” said Stephen Rigali, KAR Executive Managing Director. “We are grateful for the impactful work our advisors do within their own communities and on behalf of all of their clients.”
Profiles of the winners included their career accomplishments and their involvement with industry associations, community nonprofits and/or mentorship.
To read the full honoree feature, including individual profiles of Dustin Gale and Bridget Costello, please click here.
The 2023 LA Business Journal Leaders of Influence award was given in March 2023 and covers the year 2023. KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award.
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Bay Area based wealth advisor, Grace Apuy, CFP®, CDFA was among a group of celebrated women leaders who have made an impact in their local community.
Read Grace’s profile here: https://www.bizjournals.com/sanfrancisco/potmsearch/detail/submission/6528161/Grace_Apuy
To meet with Grace, contact our Bay Area/San Francisco office.
SF Business Times People on the Move Women’s History Month 2023: The SF Business Times People on the Move Women’s History Month professional recognition was given in March 2023. KAR has not paid fees to the publisher to obtain the recognition but has paid fees for the publication of Grace Apuy’s profile in the SF Business Times. Payment for publication of the profile was not a prerequisite to receiving the recognition.
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Kayne Anderson Rudnick has been awarded a PSN Top Guns distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers. KAR received the PSN Top Guns Manager of the Decade recognition for several of its investment strategies. The KAR Small Cap Core, KAR Small Cap Sustainable Growth, KAR Small-Mid Cap Core, KAR Small-Mid Cap Value, and KAR Mid Cap Core strategies all received the Manager of the Decade designation for the 10-year period ending December 31, 2022.
Through a combination of Informa Financial Intelligence’s proprietary performance screens, *PSN Top Guns (*free registration to view Top Guns) ranks products in six proprietary categories in over 50 universes. This is a well-respected quarterly ranking and is widely used by institutional asset managers and investors. Informa Financial Intelligence is part of Informa plc, a leading provider of critical decision-making solutions and custom services to financial institutions.
Learn more about Our Investment Strategies and Contact Us today.
The PSN Top Guns Manager of the Decade ranking was issued in February 2023 and covers the ten-year period ending December 31, 2022. KAR did not pay any fees to participate in the ranking; however, KAR has paid fees for a license to reprint and distribute the results of the ranking and use of the PSN Top Guns Manager of the Decade logo.
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Sam Waltman, CFA, CFP® recently shared insights on financial planning for couples who disagree. Sam highlights that these couples generally understand the importance of compromise & working together on achieving goals.
Read the Financial Advisor Magazine article here: https://bit.ly/3ZhIp9o
Contact Sam to learn about our financial planning services.
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Thomas Pontius, CFP® shared his insights with on how tax loss harvesting may be an opportunity to realize losses with investments that no longer align with the strategy or allocation.
Read the full Financial Advisor Magazine article: https://bit.ly/3kxtM2s
Contact our team to learn about how we can help you with tax planning.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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According to Barron’s Hall of Famer Spuds Powell, CPWA® the worst mistake investors make is letting emotions influence your investment judgement. Spuds highlights that emotion can have a significant impact on your financial well-being.
Read Spuds’s full insights on Barron’s Advisor: http://bit.ly/3Excx8f (a subscription may be required to view the article).
To speak with Spuds, contact our LA Office.
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Financial Planner Thomas Pontius, CFP® shared his latest insights in Financial Advisor Magazine on how to begin tax planning for the eventual sunset of changes brought about by the Tax Cuts and Jobs Act (TCJA).
“Another tax bill prior to the reversion could potentially extend some provisions or eliminate others altogether. What a new tax bill will propose will be dependent on the political landscape at that time,” Pontius said.
Check out the full piece for more: https://bit.ly/3EsKrLe
Contact our team to learn about our tax planning services.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Wealth Advisor Bridget Costello, CFP shared insights with Barron’s Advisor on how the stakes for divorce can be higher for executives due to the size and nature of assets that are involved. Bridget highlights that life insurance also plays a huge factor.
Read the Barron’s article here: http://bit.ly/3lDXEuc (a subscription may be required to view the article).
Contact our LA Team to learn about our advisory services.
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Banks and credit unions have been raising the interest rates creating opportunities for savers. KAR wealth advisor, Carina Berlin, CFP® weighs in on the pros and cons in deciding between opening a money market and savings account. In addition to the variation in interest rates offered, money market accounts can differ from savings accounts in account features and mininum deposit requirements. Read the Fortune article to learn more: https://bit.ly/414SKXB
Contact our LA Team for more financial planning tips.
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CIO Doug Foreman, shares his 2023 global outlook in Pensions & Investments in which he states that the mix of higher rates, high inflation and slowing growth will likely spell a mild recession in 2023.
Read the full piece: https://bit.ly/3XkQ4C8
For more of Doug’s insights, check out our 4Q2022 Market Review Commentary.
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In a recent Financial Advisor Magazine article, Thomas Pontius, CFP® shares his outlook on how clients should proactively plan for taxes and recognize that major changes will likely begin in 2026.
Read the piece: https://bit.ly/3CAQU60
Contact us to learn more about our tax planning services.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Despite the ups and downs of 2022, Randy believes there are still opportunities for advisors to leverage the market conditions of 2023 in service of preserving clients’ portfolios. Among the areas of opportunity are tax loss harvesting, Roth conversion strategies, and long-term flexible planning.
Read the full outlook here: https://bit.ly/3i39qgo
To speak with Randy, contact our Newport office.
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According to Doug, strong employment continues to be the Fed’s Achilles Heel. Doug highlights that any reduction of labor demand growth will be seen as a positive indicator by the Fed to slowing the economy.
Read the article here: https://bit.ly/3YlXer7 (Note: a subscription to Barron’s is required for access)
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Managing Director and Barron’s Hall of Famer, Spuds Powell, was recently profiled by Steve Garmhausen in Barron’s Advisor discussing the organic growth of the Kayne wealth advisor team, his journey and evolution as a financial advisor and the value of building strong client relationships. Read the full piece here: https://webreprints.djreprints.com/2360511WR.pdf
Contact Spuds today to learn more.
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Dustin Gale, CFP®, CPWA® shares his outlook on how clients should keep emergency cash during these high-inflation times and discusses that in time, the payout rates may get better. Check out the Financial Advisor Magazine article for more: https://bit.ly/3Ali27V
Learn more about our wealth management services or contact our office.
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Doug Foreman recently shared his insights in Lawrence Light’s Chief Investment Officer Magazine article on what the market will look like in the coming decade. He notes that many overlook that the drawdowns create bargains that can set up ‘above-average returns’. Read the full article: http://bit.ly/3Ea7ycx (login credentials are free to create and required to view the article)
Contact us to speak with our Investment Team.
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Tyler Sterk, CPA recently shared insights on how the expansion of marginal tax brackets gives retirees the ability to convert more assets from their tax-deferred IRAs to their tax-free Roth IRAs. Read the full Financial Advisor Magazine article here: bit.ly/3AeNNj7
Learn more about our tax planning services or contact us to discuss your options.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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For more information on the Forbes Top 100 RIA ranking, visit: https://www.forbes.com/lists/top-ria-firms/?sh=46b1696c3cd5
“We are especially proud of this recognition which took into account an understanding of the overall client experience, among other criteria,” said KAR Executive Managing Director Stephen A. Rigali. “The entire KAR wealth management team has the best interest of their clients at the forefront of their work, and it is an honor that we have ranked this highly out of over 36,000 nominations.”
According to R.J. Shook, President of Shook Research, the Forbes Top RIA ranking is based on an algorithm of qualitative criteria, mostly gained through telephone, virtual and in-person due diligence interviews, and quantitative data such as revenue, assets under management, and client-related data including retention rates.
Kayne Anderson Rudnick’s wealth management team also appeared on Barron’s 2022 list of the Top Independent Advisors, Top 1,200 Advisors by State and Forbes’ 2022 list of Best-In-State Wealth Advisors.
Forbes’ Top RIA Firms 2022 and Forbes’ 2022 Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings. For additional information on the Forbes’ Top RIA Firms 2022, please visit here. For additional information on the Forbes’ 2022 Best-In-State Wealth Advisors Ranking, please visit here.
For the Barron’s “Top 100 Independent Advisors” Barron’s utilizes the results from a 102-question survey that is completed by advisors who wish to be ranked. Barron’s verifies that data with the advisors’ firms and with regulatory databases and then applies its rankings formula to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets (2) Revenue (3) Quality of practice. Barron’s also measures the growth of advisors’ practices and their client retention along with a wide range of qualitative factors, including the advisors’ experience, their advanced degrees and industry designations, the size, shape, and diversity of their teams, their charitable and philanthropic work, and their compliance records. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings.
For more information on the ranking, visit: https://www.barrons.com/advisor/report/top-financial-advisors/independent?mod=faranking_subnav.
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Brian Chang shared why bear markets are a time to “develop a deeper understanding of clients’ biases and fears, which will strengthen the future advisory experience.” Financial planning is both an art and a science, especially during times of turmoil. Read more in Financial Advisor Magazine: https://bit.ly/3FKPCri
Contact Brian to discuss your financial plan.
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Executive Manager Director, Stephen Rigali, shared his insights on KAR’s high-quality investment strategy, the unique approach to our leadership team & how our investment management division works alongside the wealth management division in the recent Private Wealth Financial Advisor magazine piece: https://bit.ly/3FAIrSz
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Sam Waltman recently shared advice on how to build an emergency savings fund during periods of high inflation. He suggests that one should create a line item for savings in their budget as a way to consistently contribute. Read more in CNBC article: https://cnb.cx/3yCdQQj
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Wealth Advisor Tyler Sterk, CFP®, CPA shares his insights on estate planning and how the lifetime exemption will revert to its old level or lower by 2026.
Read the article in Financial Advisor Magazine: https://bit.ly/3fFVEPj
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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The honorees profiled in this special edition of the publication were nominated by their colleagues and peers and selected by the publication’s stakeholders. Honorees represent commercial banking, investment banking, asset/investment management, lending, and private equity sectors as well as service executives across the legal, accounting and insurance sectors.
“We are proud to congratulate Randy and Brian for being recognized as Orange County Visionaries,” said Stephen Rigali, KAR Executive Managing Director. “This recognition is well deserved and highlights the remarkable leadership demonstrated by the KAR wealth advisory team throughout the challenges presented over the last year.”
Profiles of the winners included their “backgrounds, skill sets and remarkable accomplishments and how they’ve propelled their organizations, their clients and our community at large towards success,” highlighting the personal and professional drivers in their lives.
To read the full honoree feature, including individual profiles of Randy Allen and Brian Chang, please click here.
OC Times B2B Publishing 2022 Visionaries are nominated by colleagues and peers and selected by B2B stakeholders. Selections are made without regard to whether an individual or company advertises with the OC Times. KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award. KAR sponsored an ad in the 2022 B2B Banking & Finance publication but doing so was not a prerequisite to winning the award.
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This marks the fifth time Powell has ranked first overall among Barron’s top independent advisors and the tenth consecutive year within the top 10, including a four year stretch as number one from 2017-2020. Powell is the only independent advisor to hold the number one ranking for five or more years. His ten-year milestone achievement automatically triggered the Hall of Fame induction.
“Spuds Powell and the KAR Wealth Advisory team’s capability to maintain their presence on this prominent list for the past decade is a testament to their consistency in developing and sustaining client relationships,” said KAR Executive Managing Director Stephen A. Rigali. “Our ranking at number one is reflective of the team’s commitment to client communication and their work during a tumultuous year.”
The Barron’s Top Independent Advisor ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms, and the quality of the advisors’ practices. The scoring system assigns a top score of 100 and rates the rest by comparing them with the top-ranked advisor. KAR has not paid to participate in the ranking or for the ranking itself.
Kayne Anderson Rudnick’s wealth management team also appeared on Barron’s 2022 list of the Top 1,200 Advisors by State and Forbes’ 2022 list of Best-In-State Wealth Advisors.
For more information on the ranking, visit: https://www.barrons.com/advisor/report/top-financial-advisors/independent?mod=faranking_subnav.
For more information on the Barron’s Hall of Fame, visit: https://www.barrons-advisor.com/hall-of-fame.html.
For the Barron’s “Top 100 Independent Advisors” Barron’s utilizes the results from a 102-question survey that is completed by advisors who wish to be ranked. Barron’s verifies that data with the advisors’ firms and with regulatory databases and then applies its rankings formula to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets (2) Revenue (3) Quality of practice. Barron’s also measures the growth of advisors’ practices and their client retention along with a wide range of qualitative factors, including the advisors’ experience, their advanced degrees and industry designations, the size, shape, and diversity of their teams, their charitable and philanthropic work, and their compliance records. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings.
The Barron’s Hall of Fame Advisor Award is an award honoring a group of advisors who exemplify long-term success and commitment to their clients. Each member of the Hall of Fame has appeared in Barron’s annual Top 100 Advisor rankings for 10+ years, and their long-looking commitment to excellence is a hopeful example for the industry to follow. KAR has not paid a fee to participate in the award or to reprint and distribute the result of the award.
Forbes’ 2022 Top Wealth Advisors and Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm that measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings.
For additional information on the Forbes’ 2022 Best-In-State Wealth Advisors Ranking, please visit here.
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Portfolio Manager and Senior Research Analyst Julie Biel, CFA recently shared that despite the tumultuous market we’re facing, we are one step closer to recovery. In terms of possible correction with today’s high inflation, we still have a long way to go.
For more, read the full Bloomberg News article: https://bloom.bg/3UJFyEf
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In this piece, Portfolio Manager & Senior Research Analyst, Hyung Kim discusses his background growing up in South Korea, areas of opportunity in emerging markets, and KAR’s approach in identifying quality investments.
Read the full feature: https://www.virtus.com/articles/how-an-emerging-market-stock-fund-stays-on-top-with-less-risk
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Wealth advisor, Tyler Sterk, shares his insights on how carried interest tax is generally at the more favorable long-term capital gains rate at 20%, rather than the ordinary income tax rate at 37%.
Read full article: https://bit.ly/3ADYEDK
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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At KAR, our investment thesis centers around identifying and investing in high-quality companies. We seek to own differentiated businesses with enduring competitive protections, favorable long-term prospects, and exceptional economic characteristics. Given the current rising interest rate environment and volatility in the equity market, we believe there are opportunities created for advisors and their clients to invest in high quality names.
Read Sam’s mid-year outlook: https://bluetoad.com/publication/?i=758140&article_id=4327006&view=articleBrowser&ver=html5
Contact Sam to learn about our wealth advisory services.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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Senior Wealth Advisor Dustin Gale was quoted in a Financial Advisor Magazine piece regarding options to access emergency cash given rising interest rates. Read the full article: https://bit.ly/3R4A7NF
Do you have questions about accessing cash for an emergency? Contact Dustin.
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“Part of the problem is that investors are fighting their own psychology. They’ve been conditioned to believe that if they try harder, they will get better results.” – Brian Chang
More than ever, in today’s environment, advisors must understand how their clients react to market events and how that influences their decision-making. In his byline, Brian discusses encouraging clients to act in concert with risk tolerance, the strategy of holding sufficient cash to feel comfortable during a market correction, and considering alternatives as a substitute for low-return traditional assets.
Read the full article here: https://rethinking65.com/2022/08/11/is-cash-really-king-in-tumultuous-markets/
Contact Brian to learn about your investing options in a volatile equity market.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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The listing is ranked by local assets under management for individual client accounts. The list includes wealth management firms with offices located in the Bay Area, specifically Alameda, Contra Costa, Marin, San Francisco, and San Mateo counties. Information required to compile this ranking was obtained from firm representatives and independent San Francisco Business Times research. KAR has not paid fees to the award sponsor to obtain the ranking.
View the complete ranking here.
Contact us to schedule time to speak with our SF based advisors about your investment portfolio.
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Boston based Kevin O’Regan weighs in on Bailey McCann’s recent piece on whether now is a good time to convert a traditional IRA to a Roth IRA. He also shares how to plan for the tax penalties/benefits that come with it.
Read the article: https://on.wsj.com/3vS1AK0
Contact Kevin with your questions about Roth IRA conversions.
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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The ranking methodology includes 2021 year-end discretionary and non-discretionary assets under management, percentage of growth in assets from 2020-2021, assets per client, percentage of growth in assets per client and percentage change in number of clients.
For the full ranking consisting of 534 RIAs, visit: here.
“We are honored to be recognized by Financial Advisor Magazine with a top 10 ranking of over 500 notable RIA firms,” said Stephen A. Rigali, Kayne Anderson Rudnick Executive Managing Director and Member of the Executive Management Committee. “This ranking is reflective of our specialized, high quality investment strategies and the approach of our investment and wealth managers during a unique time in the market cycle.”
To be eligible for the ranking, firms must be independent registered investment advisors, file their own ADV statement with the SEC and provide financial planning and related services to individual clients. This survey does not apply to hybrid RIAs and corporate RIAs. KAR did not pay any fees to participate in the Financial Advisor Magazine ranking.
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The June 2022 edition of Acclaim Magazine recognized leaders across the global wealth management industry through the WealthBriefing Awards Programme. Recognized for the category “Best CSR Staff Programme- Americas”, Jeannine comments “We are known for our investment acumen. We see this award as a way to showcase our commitment to forging meaningful connections with the people around us, attracting community-oriented advisors and creating an outlet for CSR-minded clients.
She shares community initiatives that the firm focuses on and how clients and employees participate in KAR’s CSR program.
Read the full article to learn more about our CSR program.
The Wealth For Good Awards are independently judged based solely on the basis of entrant’s submissions and their response to a number of specific questions, which are answered by focusing on the client experience rather than purely quantitative performance metrics. The awards recognize the very best operators in global wealth management with “independence”, “integrity”, and “genuine insight”, the watchwords of the judging process. While the judging process is completely independent of any commercial arrangements between the participants and the organizers, it is expected that winners have an obligation to work with the organizers to promote their award and this obligation is separate to attendance at an awards ceremony. KAR did not pay any fees to participate in the Wealth For Good Awards; however, KAR did pay fees for an advertisement and article placement after it was notified that it won. For additional information regarding the Wealth For Good Awards and methodology, please visit https://clearviewpublishing.com/events/the-wealth-for-good-awards-2022/
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In this special report, Spuds joins other experts to weigh in on how this bear market is different than past ones and the investing opportunities it could create.
“Despite the doom and gloom, there’s a lot to be optimistic about in the current market that could steer the economy away from a recession, or at least make it a minor one.”
Click to read the full article: https://labusinessjournal.com/finance/banking/bear-market-no-stress/
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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Spuds follows a three-step process for getting his clients up to speed on taking charge of their financial affairs and provides a surviving spouse checklist to help manage financial obligations.
Learn about the steps he takes in Jeff Benjamin’s recent InvestmentNews profile: https://bit.ly/3OvGwjL
The information provided here should not be considered legal or tax advice and all investors should consult their legal and/or tax professional about the specifics of their own legal and tax situation to determine any proper course of action for them. KAR does not provide legal or tax advice and nothing herein should be construed as legal or tax advice, and information presented here may not be true or applicable for all legal and income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur. Past performance is no guarantee of future results.
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For more information on 40 Under 40, visit: https://40under40inadvice.com/about-2/.
“Brian’s background and ability to speak Mandarin allows him to uniquely gain trust and comfort from his clients, many of which are of Chinese descent,” said Stephen A. Rigali, Kayne Anderson Rudnick Executive Managing Director and Member of the Executive Management Committee. “KAR ensures that every client, no matter their ethnicity or cultural relationship with money, is understood. Brian is a model example of that, and the KAR Executive Committee would like to congratulate him on this recognition.”
In addition to his work with clients, considered for this recognition was Brian’s philanthropic work volunteering with the Los Angeles-area Taiwanese Chamber of Commerce, giving frequent presentations on financial topics to teenagers and pre-retirees.
Read more about Brian Chang and his 40 Under 40 recognition, here.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick is an investment and wealth advisory firm founded in 1984 by John Anderson (a Forbes 400 billionaire and the benefactor of UCLA’s Anderson School of Management). Based in Los Angeles, the firm has $65 billion in assets under management as of December 31, 2021. The company manages assets for corporations, endowments, foundations, public entities, and high net worth individuals. With over 30 years of experience, the firm is known for its commitment to high quality in its business practices, investment strategies and wealth solutions.
KAR makes no warranty as to the accuracy or reliability of the information contained herein. KAR has not paid fees to the award sponsor to obtain the award. The firm has paid a fee to license use of the InvestmentNews 40 Under 40 logo.
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As a long-time wealth advisor in the Bay Area, I’ve seen my share of young entrepreneurs catapulted into higher income brackets and new lifestyles after their tech start-up generated a windfall of cash. But while they welcome financial success, they are often unprepared for the diversification, risk mitigation and tax liability reduction decisions their newfound wealth requires.
Such windfalls, of course, are not reserved for Silicon Valley luminaries. They are also common among early-stage employees who’ve accumulated shares at multiple companies and children who’ve become sudden heirs after the untimely death of a parent. Whether from major cash-outs, accumulated company shares, unexpected inheritances or divorce settlements, significant wealth creation can pose unexpected challenges for these clients.
The Face of Newfound Wealth
Clients with newfound wealth can include founders, co-founders or early-stage employees of start-ups that generated windfalls from an IPO during or after their employment. Some acquired new wealth may also result from a merger, acquisition, or other liquidity event.
They might emerge from a six-year stint to capture a $20 million windfall after taking a tech venture public. They may be surprised by a $15 million pay-out as a result of an IPO at a previous employer where they thought their shares had been diluted.
The intense success over a compressed timeframe with little exposure to loss can leave young entrepreneurs with a distorted sense of risk. Most of their wealth, and therefore risk, is typically tied up in their company. Founders who became wealthy by employing risky strategies may be wired to assume outsized risk with their assets or prone to miscalculating risk with highly concentrated positions.
That distortion might be more acute with clients who invested entirely within the recent bull run—and all within the confines of the Silicon Valley ecosystem and its disproportionate number of successful start-ups. They may become overly optimistic and unprepared for an eventual downturn if their company vastly outperformed the broader market for several years. It’s critical for them to understand the role diversification and risk management plays.
Other clients may have seen their wealth balloon in their late 20s before experiencing additional windfalls in their 30s from multiple firms, requiring ongoing risk and balance sheet management. Instead of instant wealth from a major IPO, they have accumulated shares in the form of restricted stock units (RSU) or other compensation.
As early-stage employees, they receive the most valuable equity at the firms. But that equity dilutes over time. Once the RSUs are vested, they have less incentive to stay and often leave to restart the cycle at another firm.
It could also be a client who receives a family inheritance after the unexpected death of a parent, perhaps with assets from appreciated property values, a scenario which has become more common during the pandemic.
Understanding Risk & Protecting Assets
Financial advisors serve as a client’s guide through defining and achieving their financial goals, oftentimes shepherding them through uncharted territory. While some seek advice in anticipation of a windfall, others wait until their money is in hand. By the time they reach our office, they are often overwhelmed by the management their wealth demands. That is why, in our experience, it is important to engage with an advisor they trust, and as early in the process as possible.
Some clients may struggle to understand the consequences of holding a concentrated position with company stock. They seek our expertise about whether they should hold their shares or sell them immediately and, if they sell, how to reinvest the proceeds. Others want to know the tax implications and whether they qualify for a federal exemption. For some, company stock that comprises the bulk of their compensation plan may have lost value.
Through consistent communication, we strive to help clients understand how to grow and protect their assets. Specifically, we ensure accounts are organized, estates are properly settled, and investments are seamlessly transferred. We also connect them to a wider network of accountants, estate attorneys, and other third-party professionals.
Additionally, we research companies and conduct risk assessments to gauge tax liability. By generating detailed analyses, we believe we can illustrate how market events can impair businesses. We help them understand the scope of their wealth and work to deter them from making mistakes common among the newly wealthy.
As collaborators, we offer access to what we believe are timely investing ideas and walk clients through capital markets complexities that technologically based alternatives, such as robo-advisors, may not offer. As we see it, we are trusted advocates who strive to actively identify investment opportunities – many of which clients are unaware of – and provide counsel on the latest investment trends dominating headlines.
For example, we can diversify a portfolio for someone who is sitting on a highly concentrated position with company stock simply to avoid a hefty capital gains tax. We may suggest cutting existing shares to reduce that liability for a client who has vested shares periodically coming due.
Clients are typically focused on growing and taking risks. But for those prioritizing risk management over performance, we might reserve one portion of their assets for living expenses and another for risk taking.
For sudden heirs, we can serve as a guide through a time of stress and confusion. In instances where we have already advised an heir’s parents, we believe we are better positioned to incorporate their specific allocation needs and risk tolerances, whether conservative or uber aggressive. If needed, we can expand our role by identifying tax efficiencies or ways to unwind exposure for heirs at publicly-traded tech companies.
These scenarios present a prime opportunity for advisors to help clients navigate new terrain. For us, they create an opening to demonstrate our value with younger investors who may not be sophisticated investors but are less likely to hire an advisor. We can pick up where self-directed brokerage accounts leave off. Ultimately, we believe we can cultivate lasting relationships, helping clients achieve the financial freedom and security they crave.
Contact our San Francisco office today.
Reprinted with permission from the June 9, 2022 online edition of Think Advisor © 2022 ALM Global Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or .
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KAR is proud to announce that four of our senior wealth advisors have been named as Five Star Wealth Managers for 2022.
Los Angeles:
- Curt Biren, Senior Wealth Advisor: 10th Year
- Dustin Gale, Senior Wealth Advisor: 3rd Year
- Spuds Powell, Managing Director & Senior Wealth Advisor: 11th Year
Orange County:
- Randy Allen, Senior Wealth Advisor: 3rd Year
According to Five Star Professional, the program’s objective is to recognize wealth management professionals who “show a commitment to clients, demonstrate strong industry credentials, and are evaluated on the quality of their current practice.”
Commenting on the recognition, Stephen Rigali, KAR Executive Managing Director said: “The KAR team is pleased to have Curt, Dustin, Spuds and Randy named as a Five Star Wealth Manager once again. Being recognized across consecutive years is a testimony to their ongoing commitment to delivering a high level of service to their clients.”
For more information on the Five Star award and the research/selection methodology, go to https://www.fivestarprofessional.com/public/wmresearch. 3,781 Los Angeles-area wealth managers were considered for the award; 150 (4% of candidates) were named 2022 Five Star Wealth Managers. 2,482 Orange County-area wealth managers were considered for the award; 143 (6% of candidates) were named 2022 Five Star Wealth Managers.
Five Star Professional conducts market-specific research to identify outstanding service professionals. Founded in 2003, the Five Star award program is the largest and most widely published award program in North America, covering more than 45 major markets. Professionals recognized as award winners are published by Five Star Professional and its partners. Award winners cannot pay a fee to be included in the research or the final list of award recipients. For more information regarding Five Star Professional’s program and research methodology, please visit their website here: https://www.fivestarprofessional.com/public/wmresearch
Learn more about Why our clients choose KAR and Contact Us today.
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Los Angeles – KAYNE ANDERSON RUDNICK DEMONSTRATES COMMITMENT TO ETHICAL STANDARDS WITH WEALTH FOR GOOD AWARD
Kayne Anderson Rudnick was awarded the ‘Best CSR (Corporate Social Responsibility) Staff Programme – Americas’ at the Inaugural WealthBriefing Wealth for Good Awards, 2022. The firm joins the growing ranks of the global wealth management industry which recognizes the importance of promoting the highest standards of ethical and sustainable behaviors.
Showcasing the most ethical wealth management businesses globally, the awards have been designed to recognize outstanding organizations grouped by specialism and geography which the prestigious panel of independent judges deemed to have ‘demonstrated commitment to the highest standards in relations to clients, colleagues and the wider community during the year’.
The WealthBriefing Wealth for Good Awards are part of a global program run by WealthBriefing and its sister publications WealthBriefingAsia and Family Wealth Report, encompassing all the world’s major wealth management centers.
Participants around the world recognize that winning awards is particularly important in these challenging times as it gives clients reassurance that their advisors and business partners are upholding the highest standards in the industry as well as in the solidity and sustainability of the winner’s business and operating model.
Commenting on the firm’s triumph, Jeannine Vanian, KAR Chief Operating Officer said: “We dedicate ourselves to developing a team that exemplifies diversity and embraces the needs of the people who surround us, and it is our honor to receive this award.”
Find out more here.
The Wealth For Good Awards are independently judged based solely on the basis of entrant’s submissions and their response to a number of specific questions, which are answered by focusing on the client experience rather than purely quantitative performance metrics. The awards recognize the very best operators in global wealth management with “independence”, “integrity”, and “genuine insight”, the watchwords of the judging process. While the judging process is completely independent of any commercial arrangements between the participants and the organizers, it is expected that winners have an obligation to work with the organizers to promote their award and this obligation is separate to attendance at an awards ceremony. KAR did not pay any fees to participate in the Wealth For Good Awards; however, KAR did pay fees for an advertisement and article placement after it was notified that it won. For additional information regarding the Wealth For Good Awards and methodology, please visit https://clearviewpublishing.com/events/the-wealth-for-good-awards-2022/
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The rising inflation environment is leading consumers to reevaluate where their dollar is spent. Specifically, subscription based streaming services that thrived during the pandemic lockdown are beginning to see their subscription numbers drop.
Click here to read the full article.
Get in touch with Our Team today to learn how KAR managers respond to new market forces.
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Senior Wealth Advisor Brian Chang, CFA, CFP® recently shared his insights with Ben Mattlin of ThinkAdvisor regarding how investors responded to past economic crises and how that strategy relates to today’s combat against market volatility & inflation. Read the full article: https://bit.ly/3kKbE1L
See what sets our Wealth Managers apart at KAR, and get in touch with Our Team today.
Related Article: Learn why investors should avoid the “noise” of everyday media.
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Recent market volatility may provide investors with an opportunity to offset capital gains by selling securities at a loss. Senior Wealth Advisor Spuds Powell shares his thoughts on how to make employing a tax loss harvesting strategy effective by having an interim strategy to maintain exposure to the markets.
Read the Barron’s Advisor article: https://bit.ly/3lGJXaw
Learn more about our Wealth Advisory Services and contact Spuds today.
The information provided here should not be considered to be tax advice and all investors should consult their tax professional about the specifics of their own tax situation to determine any proper course of action for them. KAR does not provide tax advice and nothing herein should be construed as tax advice, and information presented here may not be true or applicable for all income tax situations. Tax laws can and frequently do change, and KAR does not undertake to update this should any changes occur.
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Commenting on the honorees, Stephen Rigali, KAR Executive Managing Director said: “The KAR team is proud to congratulate Spuds and Darnel on this well-deserved recognition. Their commitment to our clients and the values of the firm exemplifies the goals of KAR as an organization and our culture.”
According to the Los Angeles Business Journal, the honoree profiles were drawn from submitted nomination materials, and “those selected for inclusion were reviewed by the editorial department and chosen based on a demonstration of impact made on the profession and on the Los Angeles community.” The nominee profiles feature information about their careers, practice, and a look at what makes them leaders in their field.
A highlight from the write-up on Spuds included: “Powell also is recognized as a wealth manager who advocates for ‘playing great defense’ during challenging economic environments. Clear communications with clients to define risk and their comfort giving a little upside in periods of volatility and high market risk is a strategy that Powell’s clients say they greatly value.”
Darnel’s profile highlighted: “Bentz focuses on the integration of alternative investment strategies and the customization of client financial plans. His ability to connect and build strong bonds with his clients allowed him to achieve a record year at KAR, adding $100 million in client assets as of the end of 2021. Bentz’s professional priority is for clients to experience the highest-quality service, gain valuable peace of mind, and have confidence that their life goals are obtainable and will be achieved.”
To read the full honoree feature, including individual profiles of Spuds and Darnel, click here.
To access the full list honoree PDF, click here.
Learn more about Why Our Clients Choose KAR and contact our Wealth Management team today.
KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award. KAR sponsored an ad in the 2022 Los Angeles Business Journal Leaders of Influence: Wealth Management publication but doing so was not a prerequisite to winning the award.
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Please see the full list and coverage in Forbes here.
According to the authors of the list, Forbes and SHOOK Research, each advisor “is chosen based on an algorithm of qualitative and quantitative criteria, including: in-person interviews; industry experience; compliance records; revenue produced; and assets under management.”
Within the methodology write up, Forbes comments, “Here’s what our research has found: the very best advisors are laser focused on having a positive impact on their clients’ lives, they want to add meaning and help them live better lives.”
The full list features more than 6,500 advisors managing a collective $10 trillion.
Commenting on the recognition, Stephen Rigali, KAR Executive Managing Director said: “The KAR team is proud to congratulate Spuds and Tom on this achievement. Being recognized among this esteemed list showcases the professionalism and acumen of Spuds and Tom and highlights the commitment of the firm to all of our clients.”
To view Spud’s featured profile within the list, click here: Spuds Powell (forbes.com)
To view Tom’s featured profile within the list, click here: Thomas Connaghan (forbes.com)
Learn more about our Wealth Advisory Services and contact Spuds and Tom today.
Forbes’ 2022 Top Wealth Advisors and Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm that measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings but has paid fees for a license to reprint and distribute the results of the rankings.
For additional information on the Forbes’ 2022 Best-In-State Wealth Advisors Ranking, please visit here.
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Commenting on the honorees, Stephen Rigali, KAR Executive Managing Director said: “The whole KAR team joins me in congratulation Spuds, Darnel, and Dustin. They personify the firm’s values of honesty, integrity, and transparency as well as our belief that the right thing is helping clients make the most of their wealth.”
The honorees profiled in this special edition of the publication were nominated by their colleagues and peers and selected by the publication’s stakeholders. Honorees represent commercial banking, investment banking, asset/investment management, lending, and private equity sectors as well as service executives across the legal, accounting and insurance sectors.
Profiles of the winners included their “backgrounds, skill sets and remarkable accomplishments and how they’ve propelled their organizations, their clients and our community at large towards success,” highlighting the personal and professional drivers in their lives.
To read the full honoree feature, including individual profiles of Spuds, Darnel and Dustin, click here.
Learn more about our Wealth Advisory Services and contact Spuds, Darnel, and Dustin today.
KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award. KAR sponsored an ad in the 2022 B2B Banking & Finance publication but doing so was not a prerequisite to winning the award.
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The annual Family Wealth Report Awards program recognizes who they believe to be the most innovative and exceptional firms, teams and individuals serving the family office, family wealth and trusted advisor communities in North America.
Commenting on being selected as a finalist, Stephen Rigali, KAR Executive Managing Director said: “We are delighted to have been selected by the judges as a finalist for this prestigious award. It is a great honor to be recognized in the shortlist of finalists and this is testament to the hard work that the team puts in every day to ensure our clients are getting best-in-class products and services.”
Stephen Harris, ClearView Financial Media’s CEO, and publisher of Family Wealth Report, was first to extend his congratulations to all finalists, “This year we had a record number of registrations and submissions for this program: more than 500 submissions in nearly 70 categories. The firms and individuals in the 9th Family Wealth Report program are worthy competitors and the ones that have reached the Finalist stage are truly outstanding. These awards are judged by an expert panel of more than 40 judges and finalists are selected on the basis of entrants’ submissions and their response to a number of specific questions, focusing on both qualitative and quantitative performance metrics. These awards recognize the very best operators in the private client industry. The judging process is rigorous and independent and all conflicts of interest are avoided, ensuring that these awards truly reflect excellence in family wealth management.”
Winners will be announced on 4 May 2022 at the Gala Ceremony at the Mandarin Oriental Hotel in Manhattan, New York.
To discuss our investment approach with the KAR investment management team, contact us today.
KAR has not paid fees to the award sponsor to participate in the nomination.
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A fully stocked kitchen, adoption support programs, and a day to celebrate diversity are among the perks KAR offers. Our COO, Jeannine Vanian, spoke with Steve Garmhausen of Barron’s Advisor to discuss what makes working at KAR so special.
Read what Jeannine had to share: https://bit.ly/3KUh5q4
Interested in joining our team? Apply today.
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KAR received the PSN Top Guns Manager of the Decade recognition for several of its investment strategies. The KAR Small Cap Core, KAR Small-Mid Cap Core, KAR Small Cap Quality Value, KAR Small Cap Sustainable Growth, KAR Mid Cap Core, all received the Manager of the Decade designation for the 10-year period ending December 31, 2021.
Through a combination of Informa Financial Intelligence’s proprietary performance screens, *PSN Top Guns (*free registration to view Top Guns) ranks products in six proprietary categories in over 50 universes. This is a well-respected quarterly ranking and is widely used by institutional asset managers and investors. Informa Financial Intelligence is part of Informa plc, a leading provider of critical decision-making solutions and custom services to financial institutions.
Learn more about Our Philosophy and Contact Us today.
Ranking Criteria
PSN Top Guns Manager of the Decade: In order for an investment manager to be considered a PSN Top Gun Manager of the Decade, investment strategies must have had an r-squared of 0.80 or greater relative to the style benchmark for the latest 10-year period. Moreover, an investment strategy’s had to have returns greater than the style benchmark for the latest 10-year period and also standard deviation less than the style benchmark for the latest ten-year period.
The complete list of PSN Top Guns and an overview of the methodology can be located on https://psn.fi.informais.com/
For more details on the methodology behind the PSN Top Guns Rankings or to purchase PSN Top Guns Reports, contact Margaret Tobiasen at
About Informa Financial Intelligence’s Zephyr Financial Intelligence
Zephyr Financial Intelligence is part of the Informa Intelligence Division of Informa plc, is a leading provider of products and services helping financial institutions around the world cut through the noise and take decisive action. Informa Financial Intelligence’s solutions provide unparalleled insight into market opportunity, competitive performance and customer segment behavioral patterns and performance through specialized industry research, intelligence, and insight. IFI’s Zephyr portfolio supports asset allocation, investment analysis, portfolio construction, and client communications that combine to help advisors and portfolio managers retain and grow client relationships. For more information about IFI, visit https://financialintelligence.informa.com. For more information about Zephyr’s PSN Separately Managed Accounts data, visit https://financialintelligence.informa.com/products-and-services/data-analysis-and-tools/psn-sma
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The Best Firm Culture: Large Firms category recognizes the achievements of a large ($10bn plus) wealth management firm or family office that has led the way in terms of creating an inclusive and positive working environment for its staff, while also having a well-developed succession/business continuation structure in place for the future.
“Thank you to the entire team for their individual contributions that truly create a firm culture that we are proud of,” said Stephen Rigali, Executive Managing Director, Kayne Anderson Rudnick. “Our founder, John Anderson had a mantra to always ‘do the right thing’ and each person at Kayne Anderson Rudnick embodies that mindset. Our firm is run by smart, driven people whose varied backgrounds inform everything we do, from nurturing client relationships to implementing investment strategies.”
Often regarded as the “Oscars” of the US private asset management industry, the PAM Awards has over two decades of recognition as identifying top investment professionals, wealth advisors, legal firms, consultants, and other key service providers, showcasing the incredible achievements they have accomplished.
To be considered for the PAM Awards, the Kayne Anderson Rudnick team provided evidence of the steps taken to achieve a positive working environment, testimonials from staff, and turnover statistics that would support their submission. Kayne Anderson Rudnick is described as striving to do the right thing and maintaining a team-oriented culture of accessibility, open and honest communication, and respect. The firm encourages an environment of intellectual honesty and believes in empowering and growing its people.
Learn more about Who We Are and contact Us today.
KAR has not paid fees to the award sponsor to obtain the award and does not anticipate that it will pay fees to re-license the award. KAR sponsored part of the virtual gala for the awards ceremony, but doing so was not a prerequisite to winning the award.
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Portfolio Manager Hyung Kim spoke with Institutional Investor regarding his take on why emerging markets may be in a better position to face an interest rate increase than the U.S.
Click here to read the article.
Contact Our Investment Management Team today and listen to our expert insight on-the-go on our KayneCast podcast.
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Spuds Powell was recently featured in ThinkAdvisor regarding his work with widowed clients. Read what Spuds had to share on his strategy in Jane Wollman Rusoff’s piece – ‘This Top-Ranked Advisor Has Never Been Fired by a Widowed Client’: https://bit.ly/3umta2b
Learn more about Who We Are and contact our Wealth Management team today.
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Hyung Kim, Portfolio Manager and Senior Research Analyst, recently spoke with Lawrence Light of Fortune Magazine regarding investing in emerging markets, his view on China, and his 2022 outlook in the space.
Click here to read the article (a subscription may be required to access).
Learn why emerging markets could be a smart play and contact Our Team today.
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Wealth Advisor Erik Orbach shares with Financial Advisor Magazine how you can navigate through various equity gifting strategies: https://bit.ly/3zOJCsT
Learn more about Who We Are and contact Erik today.
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Brian discusses allocating to alternatives, inflationary concerns, and emerging markets exposure.
Read the full byline here: https://bit.ly/332R1sg
Hear more of our expert insight on our podcast KayneCast.
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Committing to a charitable gift amount as a couple [and then] splitting the amount between spouses, each for their own interests, is often a great approach. – D. Gale
Click to read the ThinkAdvisor article. https://bit.ly/3dVLwh2
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Health Savings Accounts (HSAs) offer a unique triple tax advantage allowing you to set money aside to cover qualified medical expenses with tax-free withdrawals.
Senior Wealth Advisor Dustin Gale, CFP®, CPWA® recently spoke to Barron’s Advisor regarding HSAs, their tax advantages and why there’s nothing else quite like them.
Read the full article here: https://bit.ly/3nMFHbE
Learn more about Who We Are and contact our Wealth Management team today.
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KAR Senior Wealth Advisor Brian Chang spoke with Andrew Foerch of Citywire RIA to shine light on how history and culture have led many Chinese investors to prioritize real estate over equities. Brian dove into how he advises his clients to overcome their biases. Read the full article: https://citywire.com/americas/news/the-unique-challenges-of-advising-chinese-clients/a1581314
Find out Why our Clients Choose KAR and get in touch with Our Team today.
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Managing emotions and money is not always easy. There are psychological drivers that can impact the decision-making process for investors.
“This is where a behavioral finance advisor can be of tremendous benefit – because they recognize that in the real world, human decisions are often influenced by emotions, biases and cognitive errors.” – B. Chang, CFA, CFP®
Click here to read the article. Note: Mr. Chang does not hold a Behavioral Finance Advisor (“BFA”) certification.
Learn more about Who We Are and contact our Wealth Management team today.
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LOS ANGELES – Spuds Powell, Managing Director of Kayne Anderson Rudnick (KAR) Wealth Advisors, and the KAR Wealth Advisory team have ranked among Barron’s Top 100 Independent Advisors for 2021.
This marks the ninth consecutive year that Powell and team have been recognized by Barron’s among the Top 10 Independent Advisors, including a four year stretch from 2017-2020 in which they were ranked first overall.
“Spuds Powell and the KAR Wealth Advisory team have demonstrated great ability to nourish client relationships even during the most uncertain of times,” said KAR Executive Managing Director Stephen A. Rigali. “We would like to thank our clientele for their earned trust, and we are honored to be recognized once more in this prestigious ranking.”
The Barron’s ranking reflects the volume of assets overseen by the advisors and their teams, revenues generated for the firms, and the quality of the advisors’ practices. The scoring system assigns a top score of 100 and rates the rest by comparing them with the top-ranked advisor.
Members of Kayne Anderson Rudnick’s wealth management team also appeared on Barron’s 2021 list of the Top 1,200 Advisors by State and Forbes’ 2021 lists of Top Wealth Advisors and Best-In-State Wealth Advisors.
At Kayne Anderson Rudnick, you can trust our wealth management advisors to build and protect your wealth with integrity and discipline. Contact us today.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick is an investment and wealth advisory firm founded in 1984 by John Anderson (a Forbes 400 billionaire and the benefactor of UCLA’s Anderson School of Management). Based in Los Angeles, the firm has $61.2 billion in assets under management as of June 30, 2021. The company manages assets for corporations, endowments, foundations, public entities and high net worth individuals. With over 30 years of experience, the firm is known for its commitment to high quality in its business practices, investment strategies and wealth solutions.
Click here to view the special report.
Learn more about Why Our Clients Choose KAR and contact Our Wealth Management Team today.
Ranking Criteria
Barron’s “Top 100 Independent Advisors” and “2021 Top Advisor Rankings by State”: The rankings are based on data provided by individual advisors and their firms. Advisor data is confirmed via regulatory databases, cross-checks with securities firms and conversations with individual advisors. The formula Barron’s uses to rank advisors is proprietary. It has three major components: assets managed, revenue produced, and quality of practice. Investment returns are not a component of the rankings because an advisor’s returns are dictated largely by the risk tolerance of clients. The quality-of-practice component includes an evaluation of each advisor’s regulatory record. KAR has not paid a fee to participate in the rankings, but has paid fees for a license to access reprints and distribute links to the results of the rankings via email, social media, and KAR’s website for a prescribed period of time.
For additional information on the ranking, please visit here.
For additional information on the ranking, please visit here.
Forbes’ 2021 Top Wealth Advisors and Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm that measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings, but has paid fees for a license to reprint and distribute the results of the rankings.
For additional information on the Forbes’ 2021 Top Wealth Advisors ranking, please visit here.
For additional information on the Forbes’ 2021 Best-In-State Wealth Advisors Ranking, please visit here.
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‘In client meetings, Costello harnesses her mental energy to focus on the here and now. Stepping into the client’s shoes, she tells herself, “This is one of the most important conversations they will have all year, like talking with their doctor.”‘ Click here to read the full article.
For a similar experience, get in touch with Bridget Costello / Our Wealth Management Team today.
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Julie Biel spoke with Reuters to discuss the latest in US markets and cautions investors that “markets may now be prone to a crash diet instead of a more considered weight-reduction plan”.
Read the full article here: https://reut.rs/3mlXYdW
Check out our additional Insights.
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‘In my 15 years as a financial planner, I’ve seen how jarring the transition to retirement can be for clients as they navigate major lifestyle changes, tackle difficult family dynamics, and adjust to a dramatically different relationship with money.
Sometimes that transition results in decision-making or behaviors that adversely impact financial growth and well-being. As a wealth advisor, my goal is to identify and eliminate these problem areas and ensure financial plans reflect the clients’ true wishes — while maximizing the potential for wealth preservation and accumulation.’
– G. Apuy
In addressing the potential challenges one faces at retirement, it is first helpful to understand the emotions at play and the triggers behind them. Click to read the full piece: https://bit.ly/2ZMEdV9
Learn Why Lower-Risk Investing is Important in Retirement and get in touch with our Wealth Management Team today.
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For additional information on the ranking, visit: https://www.forbes.com/top-wealth-advisors/#5bf3382c1a14.
“On behalf of the KAR Executive Committee, we congratulate Spuds Powell and his team on being recognized by Forbes as a top wealth advisor in America for the third straight year,” said Stephen A. Rigali, Kayne Anderson Rudnick Executive Managing Director and Member of the Executive Management Committee. “Spuds’ commitment to maintain the highest level of integrity and honesty to his work with clients is exactly the guiding principle in which our firm was founded on.”
According to R.J. Shook, President of Shook Research, Forbes ranking of the top wealth advisors in America from wirehouses, independent broker-dealers and RIAs, is based on an algorithm of qualitative criteria, mostly gained through due diligence interviews, and quantitative data. SHOOK Research uses an algorithm which weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients.
Members of Kayne Anderson Rudnick’s wealth management team also appeared on Forbes’ 2021 list of the “Best in State Wealth Advisors” and ranked first overall in Barron’s 2020 list of “Top 100 Independent Financial Advisors” list for the fourth consecutive year.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick is an investment and wealth advisory firm founded in 1984 by John Anderson (a Forbes 400 billionaire and the benefactor of UCLA’s Anderson School of Management). Based in Los Angeles, the firm has $61.2 billion in assets under management as of June 30, 2021. The company manages assets for corporations, endowments, foundations, public entities and high net worth individuals. With over 30 years of experience, the firm is known for its commitment to high quality in its business practices, investment strategies and wealth solutions.
Learn more about our Wealth Advisory Services and contact Spuds today.
Forbes’ 2021 Top Wealth Advisors and Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm that measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings, but has paid fees for a license to reprint and distribute the results of the rankings.
For additional information on the Forbes’ 2021 Top Wealth Advisors ranking, please visit here.
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Barron’s Steve Garmhausen checked in with wealth management executives and top advisors, including KAR’s Spuds Powell, to ask the big question about how advisors approaching the conversation with tax-averse clients to rebalance.
Click here to read the article.
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Spuds connected with Jeff Stimpson of Financial Advisor Magazine to discuss the hardships that come with being financially independent following the loss of a spouse and how he tries to step in as his client’s confidant and advocates for their interests. Click here to read Spuds’ full quote: https://bit.ly/3CTl0QD
Learn more about our Wealth Advisory Services and contact Spuds today.
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A potential increase in taxes has been at the forefront of client conversations, though Spuds Powell is preaching patience. Spuds believes there will be a tax increase of some kind, but not at a level where he is advising clients to make dramatic changes in order to mitigate the increase—risking the loss of a potential gain and getting hit with a retroactive tax hike in the end regardless.
“It’s common for people to make the mistake of being so focused on either minimizing or avoiding taxes, that they end up making decisions that compromise their investment portfolio.”
Spuds believes the worst mistake an investor can make is letting their emotions – especially fear – impact their investments.
Click here to read the article (a subscription may be required to access).
Learn more about our Wealth Advisory Services and contact Spuds today.
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The international and emerging markets small cap asset classes are both large and inefficient, and our team tries to make the most of those inefficiencies and find great businesses at attractive valuations.
Hyung Kim talks with The Wall Street Transcript about opportunities within these inefficiencies and how he believes KAR’s strategy can provide investors with emerging markets exposure to interesting high-quality small businesses.
Learn more about KAR’s International Small Cap Portfolio.
Learn more about KAR’s Emerging Markets Small Cap Portfolio.
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Ranked by assets under management in Los Angeles County as of December 31, 2020.
The full list of firms can be found here: https://www.cbjonline.com/a2labj/lists/2021-MoneyMngrs.pdf
Learn more about our Wealth Advisory Services and Contact Us today.
LABJ Largest Money Management Firms: For the LABJ Largest Money Management Firms ranking, firms are ranked by assets under management in Los Angeles County as of December 31, 2020. Financial information is obtained from the U.S. Securities and Exchange Commission filings. KAR has not paid fees to the publisher to obtain the ranking and does not anticipate that it will pay fees to re-license the ranking. For more information regarding the ranking, please visit the link provided here: https://www.cbjonline.com/a2labj/lists/2021-MoneyMngrs.pdf
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Independently managing financial obligations during a period of loss can seem frightening and almost impossible, especially if you had no prior involvement in family finances.
For Spuds, everything starts with developing deep, personal relationships with clients from the beginning so they know they can rely on him to navigate any life circumstance.
“The key is to express genuine and authentic interest in them and their spouse and their families, how they’re feeling, what their worries are, what keeps them up at night. Ask really good questions. Be a great listener. Be present.”
Read the full Citywire feature: https://citywireusa.com/registered-investment-advisor/news/trust-and-confidence-how-one-advisor-forges-personal-bonds-with-widowed-clients/a1532957
Learn more about What to Look for in a Financial Advisor and contact our Wealth Management Team today.
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Learn more about KAR’s Long-Short Strategy.
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Portfolio Manager and Senior Research Analyst Chris Wright joined one of his former UCLA Anderson professors, Eric Sussman, for a panel discussion focused on the equity markets and challenges investors are facing. Chris addressed questions regarding opportunities in the current market, his views on liquidity, real estate observations and where he stands on the debate between value vs growth.
Learn about our High Conviction Investing Approach and get in touch with Our Investment Management Team today.
Disclosures: This information is being provided by Kayne Anderson Rudnick Investment Management, LLC (“KAR”) for illustrative purposes only. Information contained in this material is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date of the material, and KAR does not undertake to update the information presented should it change. This information is based on KAR’s opinions at the time of publication of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein.
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KAR received the PSN Top Guns Manager of the Decade recognition for several of its investment strategies. The KAR Small Cap Core, KAR Small Cap Sustainable Growth, KAR Small-Mid Cap Core, KAR Small-Mid Cap Value, and KAR Mid Cap Core strategies all received the Manager of the Decade designation for the 10-year period ending December 31, 2022. Learn more: https://kayne.com/news/kar-awarded-top-guns-designation-for-2022-by-informa-financial-intelligence.
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The article discusses the slowdown in small cap stocks which started in April, following six months of strong gains.
To discuss our investment approach with the KAR investment management team, contact us today.
Disclosures: This information is being provided by Kayne Anderson Rudnick Investment Management, LLC (“KAR”) for illustrative purposes only. Information contained in this material is not intended by KAR to be interpreted as investment advice, a recommendation or solicitation to purchase securities, or a recommendation of a particular course of action and has not been updated since the date of the material, and KAR does not undertake to update the information presented should it change. This information is based on KAR’s opinions at the time of the recording of this material and are subject to change based on market activity. There is no guarantee that any forecasts made will come to pass. KAR makes no warranty as to the accuracy or reliability of the information contained herein.
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The listing is ranked by local assets under management for individual client accounts.
A link to the full article can be found here: https://www.bizjournals.com/sanfrancisco/subscriber-only/2020/06/05/largest-bay-area-wealth-management.html?b=1591257542%5E21684558
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SF Business Times Largest Bay Area Wealth Management Firms: For the SF Business Times Largest Bay Area Wealth Management Firms ranking, firms are ranked by assets under management in the Bay Area as of December 31, 2020. Financial information is obtained from the U.S. Securities and Exchange Commission filings. KAR has not paid fees to the publisher to obtain the ranking and does not anticipate that it will pay fees to re-license the ranking. For more information regarding the methodology, please visit the link provided here: https://www.bizjournals.com/sanfrancisco/subscriber-only/2020/06/05/largest-bay-area-wealth-management.html?b=1591257542%5E21684558
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LOS ANGELES — February 11, 2021— Thomas Connaghan, Senior Wealth Advisor for Kayne Anderson Rudnick Wealth Advisors, has ranked on Forbes “Best-in-State Wealth Advisors” list for 2021. Connaghan has ranked among California’s top wealth advisors on Forbes “Best-in-State Wealth Advisors” list for the second consecutive year.
For additional information on the ranking, visit: https://www.forbes.com/best-in-state-wealth-advisors/#6434c433291d.
“Tom’s customized, dynamic financial planning, and singular focus on building long-term relationships is evident and reflected in this honorable ranking,” said Stephen A. Rigali, Kayne Anderson Rudnick Executive Managing Director and Member of the Executive Management Committee. “The KAR Executive Committee congratulates Tom Connaghan and his team on being recognized by Forbes as a top wealth advisor in San Francisco, California for the second straight year.”
According to R.J. Shook, President of Shook Research, Forbes ranking of the top wealth advisors in America from wirehouses, independent broker-dealers and RIAs, is based on an algorithm of qualitative criteria, mostly gained through due diligence interviews, and quantitative data. SHOOK Research uses an algorithm which weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices and approach to working with clients.
Members of Kayne Anderson Rudnick’s wealth management team also appeared on Forbes’ 2021 list of the “America’s Top Wealth Advisors” and ranked first overall in Barron’s 2020 list of “Top 100 Independent Financial Advisors” list for the fourth consecutive year.
About Kayne Anderson Rudnick
Kayne Anderson Rudnick is an investment and wealth advisory firm founded in 1984 by John Anderson (a Forbes 400 billionaire and the benefactor of UCLA’s Anderson School of Management). Based in Los Angeles, the firm has $61.2 billion in assets under management as of June 30, 2021. The company manages assets for corporations, endowments, foundations, public entities and high net worth individuals. With over 30 years of experience, the firm is known for its commitment to high quality in its business practices, investment strategies and wealth solutions.
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Forbes’ 2021 Top Wealth Advisors and Best-In-State Wealth Advisors: Forbes includes wirehouses along with RIAs in their ranking. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, gained through telephone, virtual and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their approach to working with clients. Each variable is graded and represents a certain value for each measured component. The algorithm that measures thousands of advisors against each other. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. KAR has not paid a fee to participate in the rankings, but has paid fees for a license to reprint and distribute the results of the rankings.
For additional information on the Forbes’ 2021 Best-In-State Wealth Advisors Ranking, please visit here.
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Active management allows managers to zero in on up-and-comers with business advantages that aren’t yet widely known. One example is Bill.com Holdings, said Christopher Armbruster, senior research analyst at Kayne Anderson Rudnick, which manages money for institutions.
Stock in the company, whose cloud-based software automates back-office financial operations, has almost quadrupled since its late 2019 initial public offering (IPO). While it has not yet turned a profit, revenue is burgeoning. The outfit can cut a small business’s spending on receivables in half, he said.
A link to the full article can be found here: https://www.ai-cio.com/in-focus/market-drilldown/index-besotted-institutions-miss-good-deal-stock-pickers/
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The article discusses what may cause investors to rotate out of tech and other sectors in a post COVID environment.
https://www.ai-cio.com/in-focus/market-drilldown/stock-markets-tech-leaders-will-ousted/
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In the Wall Street Journal in an article titled “Dividend Darlings Trail Stock Market Despite Pumped-Up Yields.”
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A sister publication of Family Wealth Report, titled “What Advisors Should Avoid When Working From Home.” Read Connaghan’s dos and don’ts for effective client communications and successful portfolio management.
https://www.wealthbriefing.com/html/article.php?id=188751#.X33bPmhKiUl
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Read why Armbruster sees many companies as likely to “grow and recover faster, and realize better margins.”
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“Time to Check Your Risk Tolerance?” discusses the importance of making sure an investor’s risk tolerance reflects their actual behavior and then allocating the right mix of assets to minimize fear and anxiety during periods of market volatility.
https://bluetoad.com/publication/?i=671224&article_id=3748608&view=articleBrowser&ver=html5
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KAR CIO Doug Forman Comments on Nasdaq Tradetalks
To anyone following the stock market today, it’s clear that there is a significant gap between the market’s enthusiastic highs and the current state of the economy, which is — to be blunt — in a recession. So is the stock market delusional, or is there a real reason for this level of optimism?
Kayne Anderson Rudnick Chief Investment Officer Doug Foreman recently joined Jill Malandrino on Nasdaq #TradeTalks to discuss the gap between current market news and the everyday economy.
Foreman pointed out that the Fed and others’ quick implementation of significant fiscal, monetary policies have been very supportive of the markets. For example, Fed policy designed to support the bond market has had a secondary positive impact on the equity markets.
He also noted that the stock market has not moved as a single unit.
“It is a market of stocks, not a stock market,” he commented. At-risk industries like travel, restaurants, and brick-and-mortar retail have been hit hard, while digital businesses that got a boost from the pandemic’s acceleration of business technology implementation have been pulling the overall market up.
One crucial question is how much longer the supportive fiscal policies can prop the market up and when we might have to pay the piper. The day will come, according to Foreman, but not while the recession lasts.
And what does all of this mean for investors? It’s likely that great buying opportunities will be scarce. “Over a trillion dollars of cash is sitting on the sidelines right now,” Foreman remarked. “As everyone tries to put this money to work again, prices will rise, and buyers will have to buy higher.”
“We encouraged our investors to ride it out and stick to their investment plan. Don’t try to time the markets; it’s difficult if not impossible, as the recent market has definitely proven.”
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Chris Armbruster answers on TD Ameritrade Network.
With stocks aggressively defying pandemic-era economic reality, possibly the most hotly debated issue in investment circles today is the current existence — or not — of a stock market bubble. If it looks like a bubble, and it buys and sells like a bubble, is it really a bubble? Because we know bubbles ultimately burst.
Chris Armbruster, a portfolio manager at Kayne Anderson Rudnick, is not a proponent of the theory that the stock market is in a major bubble right now. “We think there are a lot of fundamentals that indicate this is not the case,” he stated recently in an interview for TD Ameritrade Network.
Yes, the economy is in recession, and some signs have appeared that indicated bubble-like conditions in the past, such as the behavior of retail investors, the IPO market, and “blank-check companies.” However, Armbruster believes the market has actually done an impressive job, “climbing a wall of worry.”
Armbruster advocates an investment strategy that focuses on the qualitative characteristics that lead to superior long-term quantitative financial characteristics. “In other words, when we look at fundamentals, we’re analyzing how these companies will be performing in a couple of years.” Armbruster doesn’t believe the stock market’s price actions are totally disassociated with what the fundamentals will be as companies emerge on the other side of the pandemic crisis.
His optimism is fueled by what he sees as extraordinary efforts by the medical community and global fiscal policymakers. “We’re confident that the medical community will eventually develop a vaccine…In the meanwhile, there is an unprecedented level of stimulus around the world that we think will bridge the economic gap until we get back to a more normally functioning economy.”
Watch the full video to learn more and hear if Armbruster thinks the high prices for digital transformation companies are building a mini-bubble.
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The article discusses the decline of small caps amid a resurgent coronavirus pandemic.
A link to the full article can be found here: https://www.reuters.com/article/us-usa-stocks-weekahead/fund-managers-navigate-night-of-the-living-dead-in-small-caps-idUSKCN24I1WG
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The list includes firms from 39 states and Washington, D.C. More than 760 RIAs competed for the top 300 list and were graded on AUM, asset growth, the company’s age, industry certifications of key employees, SEC compliance record and online accessibility.
A link to the full list can be found here: https://www.ft.com/content/6a45556e-6c21-4770-bc94-468fee0de563?FTCamp=engage/CAPI/webapp/Channel_Moreover//B2B
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FT 300: Top Registered Advisers: The Financial Times (“the FT”) and Ignites Research compose their list based on the examination of a database of RIAs registered with the U.S. Securities and Exchange Commission with at least $300 million in AUM. Qualifying RIAs are then invited to complete a detailed questionnaire, which is then used to select the final 300 for the list. The formula the FT uses to grade advisers is based on six broad factors, which is then used to calculate a numeric score for each adviser. Areas of consideration include AUM, asset growth, the company’s age, industry certifications of key employees, SEC compliance record and online accessibility. KAR has not paid fees to the FT to obtain the ranking and does not anticipate that it will pay fees to re-license the ranking. For more information regarding the methodology, please visit the link provided here: https://www.ft.com/content/6a45556e-6c21-4770-bc94-468fee0de563?FTCamp=engage/CAPI/webapp/Channel_Moreover//B2B
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KAR Wealth Manager Spuds Powell was quoted in a Barron’s article titled “Putting Values at the Center of Wealth Planning.” Powell shared his thoughts on structuring charitable giving for the younger generation.
https://www.barrons.com/articles/how-to-instill-values-when-teaching-kids-about-money-51590192190
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KAR Senior Wealth Advisor Darnel Bentz was quoted in PlanAdviser in an article titled “The Pull of Managed Accounts: Protection in Downturns.” Bentz supports the idea that actively managed accounts, especially during periods of volatility, have the flexibility to take more active positions and overweight or underweight sectors versus target-date funds that may mirror a broad-based index with hundreds of stocks. They also allow for tax-loss harvesting.
https://www.planadviser.com/exclusives/pull-managed-accounts-protection-downturns/
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https://www.pionline.com/special-report-top-performing-managers/technology-growth-funds-move-front
Meet our equity team and hear their expert insight on-the-go, on our KayneCast podcast.
Pension & Investments Top Performing Managers: The Pension & Investments Top Performing Managers report is based on data provided from Morningstar’s global separate account/collective investment trust database. The data for the rankings on which the report is based were pulled Feb. 5, 2020. KAR did not pay any fees to participate in the Pension & Investments Top Performing Managers. For additional information regarding the Pension & Investments Top Performing Managers and methodology, please visit https://www.pionline.com/special-report-top-performing-managers/technology-growth-funds-move-front.
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Dustin Gale – The Atlantic
How much inheritance is too much? KAR senior wealth advisor Dustin Gale is quoted in The Atlantic among other advisors addressing this must-read topic.
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