It was May 2020 when Justin Berman first shared his breakout story in this series.
in “Life after Goldman Sachs”, Justin shared his perspective on leaving the prestigious brand to start an independent firm. He discusses why, after 7 years at Goldman, he felt constrained by changes at the firm in his ability to serve the needs of his high net worth clients and continue to grow the business into the future.
So Justin launched Atlanta-based RIA Berman Capital Advisors, a firm that grew from managing $1 billion in client assets to $5 billion over 10 years.
Then, in September 2021, it was announced that Justin's firm would merge with Cresset Asset Management.
The big question is why a successful independent firm would decide to affiliate with a multifamily office and investment firm like Cresset.
As Justin said, he once again considered the future, the needs of his clients, and his firm's ability to serve those needs and grow the business moving forward.
And it's turning out to be a good decision: in just three years, his income grew from $17 million to $27 million.
He revisits his journey with Mindy Diamond, filling in the blanks since his last visit and offering a unique perspective on the evolution of a consulting business, including:
- Choosing to relinquish control of the business he built – and how that decision has proven to be the right one.
- The options he considered – and why Cresset was the partner he chose to align himself with.
- The impact of change on the future of a business – and what Justin saw specifically inspired his decision.
- His incredible growth—and what key steps he finds most effective.
- What it means to be a “family's first call” – and how a partner or business model can help facilitate this.
- The power of attracting top talent—and why it's imperative to have a team and services that demonstrate growth and profitability.
Justin's story is important because it shows how, instead of being feared, change should be embraced as a path to growth. Listen to learn valuable insights that can help inspire your own evolution.