Stephen Rischallage 29
Co-founder and financial adviser, 1080 Financial Group
- Wanted to be a professional snowboarder growing up
- Has a 12-year-old dog named Duke
- Guilty pleasures: skiing and mountain biking
Stephen Rischall got a taste of finance when investing his bar-mitzvah money as a teenager, but it wasn’t until Mr. Rischall’s mother was financially defrauded in his later teens that he forayed into the world of financial advice.
The fraud occurred despite her having a financial adviser, and Mr. Rischall took it upon himself to dig into the mess to see how it could have taken place.
“My first client was my mom,” Mr. Rischall said.
Mr. Rischall co-founded 1080 Financial Group, a fee-only registered investment adviser in California’s San Fernando Valley, when he was 26 years old. He turned down an offer to work for his mentor during college, an independent adviser, so he could go out on his own.
A third of 1080 Financial Group’s business is derived from millennial clients, and Mr. Rischall takes a lead role with this younger clientele.
“We’re willing to help anyone,” Mr. Rischall said. “We’ll never have account minimums, no matter how big our firm gets.”
He’s been an active participant in the San Fernando Valley Jaycees, a local member chapter of Junior Chamber International, for the past seven years, putting on free financial workshops for attendees mainly around the concept of behavioral finance, which is the “root cause” for financial faux-pas, according to Mr. Rischall.
He also gives talks on financial planning to young professionals at the Jewish Federation of Los Angeles, several times per year, to help guide those fairly new at managing their finances.
– Greg Iacurci