Ep 345: Differentiating With Institutions And Ultra-High-Net-Worth Investors As A Serious Investment Firm With Lori Van Dusen

Financial Advisor Success

Michael Kitces

News, Business, Entrepreneurship, Business News

4.8 • 696 Ratings

🗓️ 8 August 2023

⏱️ 100 minutes

🔗️ Recording | iTunes | RSS

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Summary

Lori Van Dusen is the CEO of LVW Advisors, an independent RIA based out of New York state that oversees more than $2 billion in assets under management for over 450 small-to-mid-sized institutions and ultra-high-net-worth households. Lori's unique niche lies in her multi-decade expertise in handling the complexities of investment issues faced by small-to-mid-sized institutions and ultra-high-net-worth families, which she leverages to differentiate her RIA focused on serious investing.

Listen in as Lori shares her journey to amassing extensive investment expertise, adopting a unique portfolio management strategy, establishing a governance calendar for client interactions, enduring a lawsuit from Citigroup post-independence, and learning the significance of due diligence when selecting an advisor platform. Lori also reflects on the aftermath of her decision to launch her own RIA, the challenges faced and lessons learned, her journey to rebuild billions in AUM, and her persistent optimism that shaped her into the successful advisory firm owner she is today.

For show notes and more visit: https://www.kitces.com/345

Transcript

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0:00.0	Welcome to the Financial Advisor Success Podcast, where you go behind the scenes with
0:06.8	financial planner, speaker, and consultant Michael Kitsis to hear stories of how leading
0:12.1	financial advisors navigated the inevitable challenges that arise on the path to success,
0:17.2	and get insight from leading industry consultants about how to break through to the next
0:21.9	level in your advisory business. And now here's your host, Michael Kitsis. Welcome, everyone.
0:28.7	Welcome to the 345th episode of the Financial Advisor Success Podcast. My guest on today's podcast is
0:34.8	Lori Van Dusen. Lori is the CEO of LVW Advisors, an independent RIA based in Pittsburgh, New York, that
0:41.2	oversees more than $2 billion in assets under management for more than 450 small to mid-sized
0:45.9	institutions and ultra-high net worth families.
0:48.8	What you think about Lori, though, is how through her multi-decade career, she's built a deep
0:52.7	expertise in the investment intricacies
0:54.7	and complex issues that face small to mid-sized institutions and ultra-high-hithe families with
0:59.2	tens of millions of dollars each and is built Nari that focuses on that serious investing
1:04.5	expertise as her differentiator. In this episode, we talk in depth about how Lorry built her
1:10.2	in-depth investment knowledge while working with large institutions and endowments at wirehouse firms like Shearson Lehman Brothers and Citigroup Smith Barney.
1:17.8	How Laurie approaches portfolio management with an approach of don't fix what isn't broken and assumes most large portfolio she manages will only need incremental changes from what they're already holding,
1:28.3	which she identifies by stress testing every portfolio and hidden levers to identify where they
1:32.8	need to be short up further. And why Lori and her firm developed a governance calendar to
1:37.4	systematize and scale their quarterly deliverables and check-ins with ongoing clients.
1:42.3	We also talk about how Lori dealt with being sued by Citigroup
1:45.8	and the lengthy legal battle that ensued after she decided
1:48.3	to break away and go independent,
	...

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