‘Our clients are part of our family’

At the heart of Larry Sprung’s philosophy is the belief that financial advising is more than just managing assets; it’s about building relationships. Now, as the founder of Mitlin Financial, Sprung has embedded these values into his culture.

“Our clients are part of our family, our team is part of our family – and that’s the way we want to look at things,” he says.

Mitlin Financial caters to a diverse clientele, including romance authors, entrepreneurs, business owners, and regular families. Sprung’s primary criteria for client relationships are mutual respect and enjoyment. This approach to client selection is not just about professionalism; it’s about creating a positive, collaborative environment.

“We want to work with good people who we enjoy working with,” says Sprung. “If you don’t pass those criteria, we’re not going to work with you.”

This dedication to family-led values and culture really shines through in Sprung’s new book, Financial Planning Made Personal, which also generated interest in the sector.

“The book has been extremely helpful, actually,” Sprung says. “Next week we have a meeting with a gentleman who reached out to us – he borrowed the audiobook from his local library, looked us up, and booked us as a result of that.”

In an era in which digital presence is crucial, Sprung has leaned into various media to reach and educate potential clients – including podcasts and blogs.

“Some people are not going to be bothered with reading a book, but they’ll listen to a 45-minute podcast or read a five-minute blog,” he says.

The subsequent growth of Mitlin Financial, which is headquartered in Hauppauge, New York, has been noteworthy. Sprung attributes this success to strategic partnerships and a commitment to continuous expansion and improvement.

The partnership with RIA Carson Partners, a decision made three years ago, has been particularly influential. Reflecting on the options he had – aligning with a firm, selling his practice, or building something independently – Sprung believes that this relationship was a pivotal decision that spurred on Mitlin’s significant growth.

As for the future, Sprung isn’t one to rest on his laurels. He plans to increase his speaking engagements, further driving the firm’s business and fostering connections.

“Four or five years ago, I was thinking, ‘I’m a stand-alone lifestyle practice – how do I get to the next level?’ I could either strategically align myself with a firm like a Carson, I could sell my practice into a larger firm and tap into their resources, or I could build something huge myself – which you know from a technology, time, and money standpoint probably wasn’t that reasonable. And now, we’ve basically doubled in the last three years.

“We’re looking to continue that progress into 2024 – hopefully double down and increase our growth, as well as the impact that we’re having, not only on the current families we serve but also to allow us to extend that to many more families as a result.”