With Gideon Drucker – President and CEO, Drucker Wealth Management

Overview

Gideon Drucker shares a multi-generational growth story, evolving from the insurance world, to independent broker dealer HTK, and most recently, to fully independent as an RIA. Now CEO, Gideon shares insights on his own evolution from next gen to leader, the advantages of independence, and their transition.

> Download a transcript of this episode…

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.

Many multi-generational wealth management businesses evolve from one generation to the next, with each generation making its mark and helping to drive the firm to the next higher level.

In this case, Bernie Drucker started in the life insurance world in 1959, building a practice helping families find financial independence. Bernie’s son, Lance, joined him in 1985, integrating investment management into their services. The third generation of Druckers, Gideon, came on board in 2016 after serving as a paratrooper in the Israeli military.

Gideon learned the insurance and wealth management business from the ground up, working alongside his father and extending the legacy born two generations earlier.

Drucker Wealth thrived for over 38 years with independent broker dealer Hornor, Townsend & Kent (also known as HTK), where they were the largest advisory team for 18 straight years, managing over $700mm in assets for their clients.

But just as Lance had helped take the business to the next level when he joined his father, Gideon set his sights on creating what he calls “Drucker Wealth 3.0”.

it was with that goal in mind that the team left the IBD world to become a stand-alone independent RIA firm.

Gideon now serves as the President and CEO of Drucker Wealth Management and talks with Mindy Diamond about the firm’s evolution, as well as his own, including:

• 
  
• The growth from one generation to the next—and how that motivated them through change.
  
• Signs they were outgrowing the broker dealer model—and what inspired them to explore their options.
  
• Their transition from HTK and the broker dealer world—and what advantages they gained as an RIA firm.
  
• Growing up in the business—and how his story can offer learnings for senior advisors and next gen alike.
  
• The transition from next gen to leader—and how Gideon needed to adapt and grow.
  
• Plus, Gideon offers a candid insider’s perspective just one year in—and describes what he sees as the next phase of evolution for the business.
  

It’s an episode that offers value to those considering how to create continuity and a legacy, as well as serves as a growth blueprint for any next gen or senior advisor.

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

From Insurance Sales to $8B RIA: A Northwestern Mutual Breakaway Story

Andy Schwartz went from selling insurance at Northwestern Mutual to managing $3.5B in assets and leading one of the firm’s largest groups. In 2014 they left to go independent as Bleakley Financial Group, now managing $8B in assets as a hybrid RIA.

The Succession Conundrum: How Advisors Can Balance Legacy and Liquidity

Multigenerational teams have several options for monetizing and transitioning the book from one generation to the next. So, how do they decide what’s best?

Wealth Management Landscape At A Glance: Focus on Independence

In a greatly evolved industry landscape, the independent space has expanded to offer a variety of models with varying levels of freedom and flexibility. Which one might be right for you?

Gideon Drucker

Founder and Director of the Wealth Builder Division

Gideon Drucker, Certified Financial Planner, Accredited Investment Fiduciary and Equity Compensation Associate, is the Founder and Director of the Wealth Builder Division at Drucker Wealth, a family wealth management firm started by his grandfather Bernie Drucker in 1959. The third generation Drucker, Gideon specializes in working with young professionals looking to take a more proactive approach to their financial future.

While meeting many of his firms’ pre-retiree clients during his first year, Gideon kept hearing a common refrain: “If Only I had met you 30 years ago.” This sentiment, repeated dozens of times by new Drucker Wealth clients approaching retirement, became Gideon’s inspiration for everything to come. Gideon created the HENRY Syndrome™ suite of services as a way to educate and empower young professionals, newlyweds, and young families to make smart financial decisions for their futures.

Gideon was recently named by Forbes as a Top Next Gen Advisor and is a sought after public speaker, presenting his HENRY Syndrome ™ workshops to hundreds of companies, organizations, and nonprofits throughout New York City and beyond with a primary focus in the tech community. Gideon graduated from Lehigh University before serving as a combat paratrooper in the Israel Defense Forces.

Browse other episodes in this podcast series…