What if we all had the chance to take a “mulligan” at least once in our business lives?
That is, use the proverbial golf do-over rule as a way to reset our goals and expectations—and take that shot one more time, but this time from a whole new perspective.
That’s exactly the way Ahmie Baum describes his transition to independence.
While he was perfectly comfortable at UBS a decade ago, he started to see things a bit differently when his son Brian joined the business.
It was an awakening that made him dig deep and evaluate everything to create a clean slate. For the first time in decades, Ahmie started asking himself if UBS was indeed the right partner for the future of the business—a legacy that he and Brian would build upon and Brian would someday take over.
With $420 million under management, Ahmie felt confident in their growth and gained a new sense of courage to do it all over again.
So, in June 2020, Ahmie, Brian and their team launched RIA Interchange Capital Partners in Pittsburgh with the help of Dynasty Financial Partners.
In this episode, Ahmie shares the unique perspective of an advisor who is just six months into independence—with the transition process and entrée into business ownership still very fresh—including:
- The events that precipitated his change of heart after four decades in the wirehouse world—and what helped him to build his “confidence” in the independent space.
- The other options he and his team considered—and how it was the voices of frustration with the wirehouses from millennial team members whom he heard most clearly.
- The choice to partner with Dynasty Financial Partners—and how moving amidst the pandemic impacted planning and transition processes.
- The limitations Ahmie faced at UBS—and how independence allowed him the ability to execute upon strategic growth initiatives in ways he could not have in the wirehouse.
- Plus, Ahmie talks about the role of legacy—and how it became clear that once his son joined the firm, it was time to consider other options.
It’s a relatable story and engaging perspective from a wirehouse veteran who chose a new path based on answering the call of one key question. As Ahmie put it, “What would you do if you weren’t afraid?”
