By KAREN BILLING
Since opening in April 2015 in Solana Beach, Hall Private Wealth Advisors has become a local leader in the wealth management industry, offering a range of asset management, financial planning and advisory services.
“The practice has grown dramatically,” said Russell Hall, founder and managing director. “We’ve had excellent asset growth which has led to some wonderful new client referrals to our firm.”
Hall said he gets a great sense of satisfaction helping clients who come to him with problems he can help find solutions for. “People that come to us are generally unhappy with portfolio results and they’re starting to distrust in the relationship they have with their broker,” Hall said. “They’re tired of underperformance, not understanding what they own and paying excessive fees – they simply want integrity in the relationship that they have with their advisor.”
At Hall Private Wealth, Hall said they take the time to really understand clients’ objectives, ensuring that portfolios are structured and aligned with their needs. He aims to keep the practice’s relationships with clients collaborative and transparent. “Relationships are what it’s all about for me,” Hall said. “The clients we have are like family to us.”
What sets Hall Private Wealth apart is their money management style, leaning toward “deep value discipline”. Hall understands that clients have concerns about market changes, the geopolitical climate and future economic meltdowns. “We find value in almost any environment,” Hall said. “We’re very focused on preservation and making sure that we capture returns during the good times, while making an effort to protect during the bad times. Our deep value approach – finding hidden values – gives clients peace-of-mind knowing that we aren’t just jumping on the bandwagon.”
The son of a civil engineer, Hall grew up overseas in exotic places such as Pakistan, Trinidad, Puerto Rico and Mexico City – he attended high school in Long Island and college in Western New York before moving to San Diego in 1990 to start his career at PaineWebber. He spent 18 years as the senior vice president of PaineWebber (later acquired by UBS) before moving his practice to Morgan Stanley, where he spent seven additional years.
After 25 years he decided to open his own office, focusing on high net worth clientele. Hall said the practice’s primary focus is asset management, noting many of his clients have undergone liquidity events – senior executives at publicly-traded companies or founders who’ve had multiple exits. He also handles corporate wealth management for company retirement plans. “Generally, our clients are all looking for integrity and fairness,” Hall said. “We provide concierge level service to our clients.”
Hall has developed a proprietary key performance indicators snapshot, that helps clients pay attention to what’s happening in their portfolios. “If you’ve ever had a big bank account statement, it can be over 20 pages and it’s quite complicated,” Hall said. “We sought out a way to educate clients about what they should be paying attention to…they find it very helpful.”
Hall said he finds that about 80 percent of professional fund managers continually underperform versus the S&P500 and their respective benchmarks, due to excessive hidden fees and bad management. “It’s becoming common sense that the S&P is a low-cost option, accessible to all investors – so you’ve got investors recognizing that they’re better off taking an index fund approach,” Hall said. “Our shop offers full advisory service and a hands-on approach, but very competitive fees. Our clients appreciate having someone to call about life events and changes to their financial picture.”
“I’m blessed to have an amazing team around me, good people with good integrity,” Hall said. “We’ve got a deep variety of experience, so there is a depth of knowledge. We value transparency, simplicity, ethics and alignment – putting our clients’ interests first.”
Hall is also involved in the San Diego Tech Coast Angels, a leading angel investment group. An entrepreneur and founder of a tech start-up himself, Hall served as a TCA board member for four years and as a coach for the group’s annual Quick Pitch competition, where entrepreneurs give two-minute pitches to a panel of judges and an audience of investors, business leaders and community leaders.
“It has been incredibly enlightening to me, to learn firsthand how companies are conceived and funded, with all of the different aspects it takes to start a company and make it work. It’s been a wonderful experience to be involved in that community,” Hall said. “It’s been a privilege to meet some of San Diego’s brightest entrepreneurs and fellow angel investors.”
Hall Private Wealth Advisors is located at 462 Stevens Avenue, Suite 105, in Solana Beach. For more information, call (858) 263-1675 or visit hallprivatewealthadvisors.com.