With Tony Smith — CEO, Stonegate Investment Group

Overview

Tony Smith of Stonegate Investment Group discusses transitioning from UBS after 14 years and $4.4B in AUM to independence and building the business to $6B, including the motivations to make a change at this stage of his career, how they achieved such extraordinary growth in a short time, and much more.

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

“Constrained.”

It’s a word that many advisors who live in the wirehouse world use when describing the motivations around their move.

It’s a descriptor that demonstrates the feeling of a lack of freedom to serve clients and grow the business in a way that resonates with their vision—and not the mandates of a larger firm, bank entity, or shareholders.

Tony Smith was one of a team of seven at UBS serving HNW clients, generating some $18mm in annual revenue and managing assets in the vicinity of $4.4B.

Yet the feeling that things had changed during his 14-year tenure at the firm had grown stronger over time. Increasing constraints, bureaucracy, and an overall lack of freedom—all threads that Tony saw as a common symptom of life in the big brokerage firms.

And ultimately, the desire to have greater flexibility and autonomy became a strong pull to consider independence.

With two team members having some 5 decades in the industry each, one might think independence was a bridge too far. Yet Tony led the team in their launch of Stonegate Investment Group to achieve what they describe as an unconstrained and highly personalized experience for their high net worth clients.

And since its launch in 2021, Stonegate has grown to managing $6B in client assets.

Tony shares an incredible story of growth with Mindy Diamond, including:

• 
  
• After growing the business to $4.4B, why Tony and his team chose to explore their options—and why they opted for independence.
  
• The limitations they experienced at UBS—and how independence offers them greater latitude in serving their clients.
  
• The complacency plateau—and how never reaching it is key to building an extraordinary business.
  
• “Your clients, your business, your self”—and why Tony feels it’s a long-term decision that should be thought through in that order.
  
• And much more.
  

It’s an incredible story that offers a perspective on why advisors seek change and how that motivation and clarity around goals can result in extraordinary growth—relevant to employee advisors and business owners alike.

Want to learn more about where, why, and how advisors like you are moving? Click to contact us or call 908-879-1002.

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Tony Smith

CEO 

Tony Smith is the CEO of Stonegate Investment Group and has been advising wealthy families and institutions for more than three decades.  Tony also serves as the Chief Investment Officer at Stonegate. After beginning his career in corporate finance, Tony advised Ultra-High Net Worth family groups at Smith Barney for 15 years.  In 2007, Tony and his entire team joined UBS Financial Services, where he served as Managing Director – Investments and Senior Portfolio Manager and Branch Manager.  Tony has been recognized as one of the nation’s top financial advisors by Barron’s, the Financial Times and Forbes, ranking as Barron’s top Financial Advisor in Alabama in 2018 – 2021.  In 2021, Barron’s named Tony’s team as one of the Top 100 Private Wealth Management teams in the country. Tony has been ranked in Barron’s 2023 Top 100 Independent Advisors and the #2 Financial Advisor in Alabama.  In July 2021, Tony and his partners formed Stonegate Investment Group, LLC., an independent Registered Investment Advisory firm.

Tony has been happily married to his high school sweetheart, Tammy, for 38 years.  He has two children Justine (34) and Haley (30), and 3 grandchildren.  He enjoys hunting, fishing, spending time at his farm, and traveling.

Tony holds a BS in Finance and an MBA from the University of Alabama at Birmingham.

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