Before becoming a financial advisor, Sam Huszczo was going to have an entirely different career. With an economics major under his belt, the founder of Michigan, Detroit-based SGH Wealth Management had a position lined up with the Bureau of Labor Statistics in Washington, DC.
However, his would-be boss got fired, causing the Bureau of Labor to reassess his employment. Huszczo now considers that a blessing in disguise. “I don’t know where I’d be today,” he says.
Indeed, he has a lot to be thankful for after his firm grew 32 percent over the past year. It's an achievement recognized by him being named an InvestmentNews Awards 2024 Excellence Awardee, with the winners announced on June 20 at 583 Park Avenue, New York in a glitzy, red carpet ceremony. Click here to register to attend.
According to a recent Schwab survey, Huszczo said, the average firm gets 6 percent of their new business from social media sources. In the case of SGH Wealth Management, they’ve achieved over 70 percent.
“That's really our superpower right now,” he highlights.
Since becoming a financial advisor, he’s served as president at the CFA Society of Detroit, making him the second youngest president in the organization’s history. Huszczo has made it his personal responsibility to help educate the future generation of financial planners take a substantive path in the field, as he highlights the average employee age is 25 years old.
Reflecting on the second half of his career, Huszczo is thinking about legacy and growth, adding his firm is going to be preeminent and at the forefront as older advisors retire,
‘If I can collect all the future of finance people to take over that changing of the guard, we're positioned to be in a really interesting spot right now,” Huszczo says.
The "Crypto Mom" departure would leave the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
