It was May of 2020 when Justin Berman first shared his breakaway story on this series.
In “Life After Goldman Sachs,” Justin shared his perspective on leaving the prestigious brand to launch an independent firm. He discusses why, after 7 years at Goldman, he felt limited by changes at the firm in his ability to serve his high-net-worth clients’ needs and continue to grow the business into the future.
So, Justin launched Atlanta-based RIA Berman Capital Advisors, a firm that grew from managing $1 billion in client assets to $5 billion over the course of 10 years.
Then in September 2021, it was announced that Justin’s firm would merge with Cresset Asset Management.
The big question is why a successful independent firm would decide to align with a multi-family office and investment firm like Cresset.
As Justin put it, he once again considered the future, his clients’ needs, and his firm’s ability to serve those needs and grow the business going forward.
And it’s proving to be a good decision: In just three years, his revenue increased from $17 million to $27 million.
He revisits his journey with Mindy Diamond, filling in the gaps since his last visit and offering a unique perspective on the evolution of an advisory business, including:
- The choice to give up control of the business he built—and how that decision has proven to be the right one.
- The options he considered—and why Cresset was the partner he chose to align with.
- The impact of change on a business’s future—and what Justin specifically saw that inspired his decision.
- His incredible growth—and what key steps he finds most effective.
- What it means to be a “family’s first call”—and how a partner or business model can help facilitate that.
- The power of attracting top talent—and why it’s imperative to have a team and services that demonstrate growth and profitability.
Justin’s story is important because it shares how, instead of being feared, change should be embraced as a pathway to growth. Listen in to learn valuable insights that can help inspire your own evolution.
Download a transcript of this episode…
