In an era where financial planning often feels impersonal and driven by algorithms, a new firm has emerged with a refreshing emphasis on family values and personalized service. Based in Southfield, Michigan, this recently launched wealth management company opened its doors in July, aiming to redefine how families preserve and grow their legacies. Founded by two father-son teams, Jay Hack and Paul Hack, alongside Lowell Weiss and Leonard Weiss, the firm brings together over 130 years of combined expertise in financial advising. Managing an estimated $1 billion in assets, the company stands out by prioritizing family legacy planning and customized wealth strategies. This launch marks a significant moment in the industry, as the firm seeks to blend time-honored principles with innovative approaches to meet the evolving needs of its clients, particularly family businesses and professionals such as physicians and attorneys.
Embracing Independence for Better Client Solutions
The decision to establish an independent firm was driven by a long-standing vision among the co-founders to break free from the constraints of larger corporate structures. Previously associated with major financial institutions, Jay Hack, the managing partner from Bloomfield Hills, and Lowell Weiss, the operating partner from West Bloomfield, recognized that autonomy would allow for greater flexibility in serving clients. This shift enables the firm to explore a wider range of investment options, leverage cutting-edge technology, and provide detailed portfolio visibility. Clients benefit from seamless money movement and sophisticated reporting tools, as the firm can now “shop the market” for the most suitable solutions. This independence is not just a structural change but a commitment to aligning services with individual client goals, ensuring that every financial plan is as unique as the family it serves, while maintaining a high standard of transparency and adaptability in an ever-changing economic landscape.
Another key aspect of this independent model is the enhanced ability to respond to client needs without the bureaucratic delays often experienced in larger firms. The co-founders emphasize that this structure fosters quicker decision-making and more personalized interactions, which are critical in wealth management where timing can significantly impact outcomes. By eliminating layers of corporate oversight, the firm can focus on building direct, trust-based relationships with clients. This approach also allows for the integration of modern tools that streamline operations, from digital dashboards for real-time portfolio tracking to advanced analytics that predict market trends. For families looking to secure their financial future, this means having a partner that not only understands their values but also has the agility to act on opportunities and mitigate risks effectively, creating a tailored experience that prioritizes long-term stability and growth over short-term gains.
A Family-Centric Approach to Wealth Management
At the heart of the firm’s philosophy is a deep-rooted focus on family, reflected in its multigenerational founding team. The unique perspective of working as father-son duos allows the co-founders to empathize with clients on matters of legacy planning, business succession, and intergenerational wealth transfer. This personal connection is evident in their approach, which begins with listening to clients to fully grasp their aspirations and concerns before crafting customized financial strategies. Described as “one family serving another,” this ethos sets the firm apart in an industry often criticized for transactional interactions. The primary clientele includes family-owned businesses and professionals who seek not just financial growth but also a way to align investments with their core values, ensuring that wealth serves a purpose beyond mere accumulation for future generations.
Beyond the emotional resonance of a family-oriented model, the firm places significant emphasis on the technical aspects of legacy planning. This involves detailed strategies for transferring wealth across generations while minimizing tax burdens and ensuring business continuity. The co-founders draw on decades of experience to navigate complex issues such as estate planning and trust management, often collaborating with legal and tax experts to create comprehensive plans. For many clients, particularly those running family enterprises, the firm’s expertise in succession planning is invaluable, as it helps secure a smooth transition of leadership and ownership. By focusing on these intricate details, the firm not only preserves financial assets but also safeguards the family’s vision and unity, fostering a sense of confidence that their legacy will endure through careful, thoughtful stewardship.
Blending Tradition with Innovation
The firm’s philosophy strikes a compelling balance between honoring traditional values and embracing modern advancements. While rooted in the integrity and client-first principles instilled by the founding fathers, who began their careers at esteemed firms, the company is equally committed to leveraging future-oriented tools like artificial intelligence and transformative technology. This duality ensures that clients receive the best of both worlds: the trust and personal attention of a bygone era combined with the efficiency and precision of today’s digital solutions. The co-founders believe that lasting relationships are just as vital as technological efficiencies, creating a service model that respects the past while preparing for the future. This approach resonates with clients who value both heritage and progress in their financial planning journey.
Additionally, the strategic partnership with Elevation Point, an investment firm holding a minority stake, amplifies the firm’s capacity to innovate while staying true to its mission. After evaluating various models for growth, the selection of this partner was based on shared values and a mutual focus on investor growth. This collaboration provides access to resources and expertise that enhance service delivery, from advanced investment platforms to broader market insights. For clients, this translates into a more robust framework for decision-making, where cutting-edge tools are seamlessly integrated with personalized advice. The firm’s ability to adapt to major trends in finance, while maintaining a high-touch client experience, positions it as a forward-thinking player in wealth management, ready to address the complexities of a rapidly evolving financial landscape with both confidence and care.
Reflecting on a Vision Realized
Looking back, the launch of this firm marked a pivotal moment for the co-founders, who successfully turned a shared vision into reality. Their dedication to independence, family values, and innovation shaped a unique identity in the wealth management space. The firm’s early steps, backed by over a century of collective experience and a significant asset base, demonstrated a promising start. The partnership with Elevation Point proved to be a cornerstone in laying a foundation for growth, while the commitment to personalized service resonated deeply with clients. As the firm moved forward from its initial opening, the focus remained on expanding reach and refining solutions, ensuring that every family served could trust in a legacy built on both tradition and forward-thinking strategies. The journey ahead was viewed with optimism, as the co-founders aimed to set new benchmarks in how wealth management could honor the past while embracing future possibilities.
