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How this Top 40 advisor grew his practice by nearly $300M

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Aric Zamel’s high-net-worth practice is getting more selective — and bigger.

Zamel, this year’s No. 9 on our Top 40 Advisors Under 40, says his practice is focused on clients who match their value proposition. “We have become more selective in regard to taking on new clients.”

That judicious approach helped boost his place on the ranking. Last year, he was No. 18, posting annual production of approximately $3.9 million and AUM of $424 million. This year, he reported $4.2 in production and AUM of $711 million.

Getting to that level was no easy feat. Among Zamel’s new clients in 2019 was one with $200 million, he says, noting the competition he faced from other advisors at competing firms. Zamel is based in Beverly Hills, California.

Below, he discusses his practice’s approach to teamwork, client acquisition and what he wants to spend 45 minutes a day doing in 2020.

To see who else made this year’s Top 40 ranking, please click here.

What type of clients do you serve — and how do you meet new ones?
We serve high-net-worth families and business owners. New clients are sourced primarily through referrals.

Have you ever turned away a client for being a bad fit for your practice?
Yes — we have become more selective in regard to taking on new clients. This is purely because we are looking for clients for whom we can provide value, and who in turn will benefit from our advice and guidance.

What was your biggest work accomplishment in 2019, and was there something that nearly kept you from achieving it?
Biggest accomplishment of 2019 was bringing in over $200 million for a family who sold a business. We faced competition from several other brokerage firms and were able to secure the new account after holding a private briefing for the client at our headquarters in New York City.

What was your biggest personal accomplishment in 2019?
Coaching my son's sports team and spending quality time with my wife and kids throughout the year.

How do you keep abreast of changes in wealth management?
I have several close friends who are in the wealth management business and we all speak frequently to update each other on trends in the industry.

These advisors oversaw $26 billion in combined client assets.
January 23

What trends are you watching in 2020?
There is a growing demand for lending from our clients — from unsecured lines of credit to residential and commercial real estate loans. It will be interesting to see how this plays out more generally across the industry in 2020.

What qualities do you admire in your team members?
Each member of our team has become a specialist in an area of the business (i.e. portfolio management, lending, etc.), yet each also has the ability to assume a generalist role to back-up another member of the team whenever needed. This allows us to be more well-rounded in our areas of expertise and serve our clients in a holistic way.

What was the last good book you read?
“Grant” by Ron Chernow.

What TV show are you currently streaming?
There aren't any shows that I’m currently streaming, but I enjoy watching MLB and NBA games with my kids.

What goal, professional or personal, do you want to achieve in 2020?
To be able to spend quality time each day with my kids, and to grow in my overall learning by dedicating 45 minutes daily to reading.

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