How This Ex-Broker Created a Billion Dollar Wealth Management Firm
August 11, 2022 at 05:41
After escaping the brokerage world in 2012, Gil Baumgarten started Segment Wealth Management, a fiduciary advisory firm where he could advocate for his clients and their best interests.
Segment Wealth's business model focuses on low fees, tax efficiency and long-term results. The firm will allocate clients' assets according to their risk appetite and optimize investment strategies to their specific goals.
Quality Over Quantity
To benefit the client and the firm, Baumgarten strives to only work with clients whose investment and risk tolerance philosophies align with his own. With plenty of new accounts coming in annually, averaging about $50 million per year, Segment has grown into a billion-dollar company serving only qualified clientele of high-net-worth individuals or outsourced family offices willing to put forth at least $5 million.
"I worked to create an asset management experience that fit with my principles. Once I figured out how to articulate my beliefs to others, my solo practice really took off, growing from $250 million to over $1 billion in a decade," says Baumgarten.
Baumgarten was named one of the Top-20 Exchange Traded Fund Thought Leaders in America by Barron's and the Wall Street Journal. He is one of only a handful of professional money managers with a 16-year all-ETF portfolio track record.
Under Baumgarten's leadership, Segment Wealth stays true to their core strategies such as Exchange Traded Funds and the Tax-Efficient Dividend Growth Strategy, while staying away from the stock market trends that may appeal to other investors.
"We believe investors with a long-term investment perspective can produce strong future income and capital appreciation by maintaining a portfolio of stocks with consistent and growing dividends," says Baumgarten.
Segment Wealth Management is SEC-registered and recognized by Barron's and the Houston Business Journal as one of the top advisory firms in America and the Greater Houston area.