Robert Scheinage 38

Managing director and partner, HighTower

I am an Idealist

40 Under 40
40 Under 40

I am a Leader

40 Under 40
Leaders

I am a Trailblazer

Trail Blazers

I am an Entrepreneur

40 Under 40
Entrepreneurs

I am a Visionary

40 Under 40
Visionaries

I am an Idealist

40 Under 40
Idealists

Meet the Leaders

Whether in their own firms or in their communities, these young people are leading the charge toward innovation in financial planning, bringing new opportunities to advisers and clients alike. Here, they share the best leadership advice they’ve received in their careers.

Meet the Trailblazers

This group doesn’t subscribe to groupthink. They are spearheading new ways of practicing and delivering financial advice — in some cases reaching populations previously considered unprofitable to serve. We ask them about the most unique and unusual ideas they’ve had.

Meet the Entrepreneurs

In addition to helping clients reach their financial goals, some in the advice industry face the challenge of running a business or a team. Others have started companies to support this pursuit. These young people are flourishing amid the balancing act — and some got an early start.

Meet the Visionaries

It’s not about what is, but what will be — and what can be — the future of the financial planning industry for this group of forward-looking advisers, educators and executives. Their insights pull the rest of the profession into the next stratum.

Meet the Idealists

Life experiences shape our ideals, especially for these young professionals who see challenges in the advice industry and the world — and set out to meet them. They also have words of wisdom for the next generation.

About Robert

Robert Schein was born to be a financial adviser.

The son of Croatian immigrants, he was dealing baseball cards at 12. He started in the financial industry a few years later by cold-calling leads for his brother, a broker in training at Merrill Lynch.

"My brother had an internship at Merrill in the '90s, and I piggybacked from there," Mr. Schein said. "I was working for advisers for free. My brother and I sat next to each other, and we would set up appointments for institutional money manager dinners. I had three jobs in college, including working for Merrill."

That turned into a job as a registered rep and adviser with Morgan Stanley, which he left in 2011 to join HighTower Advisors and HighTower Securities, where he is a partner and managing director. His team manages $550 million.

Mr. Schein's work as an adviser is based in his roots. His father invested in real estate, and Mr. Schein and his brother worked in investment management. "Our kitchen table conversation was arguing about investing in real estate versus the stock market," he said.

When his father died from cancer four years ago, Mr. Schein realized he could make an impact helping female clients like his mother.

"Mom never controlled the finances," he said. His brainchild was a leadership and community forum where women can gain the confidence to control their money and investments, called the Society of Financially Empowered Women, or FEW.

"Nine out of 10 women are solely responsible for their finances at the end of their lives," Mr. Schein said. "Everyone knows this, but no one is catering to this demographic."

ó Bruce Kelly

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Fast Facts

  • Has two dogs, Buddy and Marmaduke
  • Loves to travel and discover new food and wine
  • Secret of his success: "Listening, self-awareness and never stop learning"