Hanley Sayers represents a trend among advisors who are increasingly making the shift from big banks and wirehouses to independent RIAs. He recently joined Cresset Asset Management as a Partner, Managing Director, and Wealth Advisor after serving as a Vice President with Goldman Sachs, where he oversaw more than $500 million in client assets.
Below, Hanley explains why he made the decision and what independent RIAs like Cresset offer to entrepreneurial advisors.
Q. What made you decide to leave Goldman Sachs and join Cresset?
Hanley: Most simply, it was the culture and the people. Cresset has built the most unique wealth management firm I have ever come across. The resources and the efficiencies created by the founders truly make for a deep family office experience for clients. Most importantly, however, it is the fiduciary construct and the true partnership with clients that drew me to Cresset.
Q. What else is it about the independent space that attracted you? It seems like a lot of advisors are making the move.
Hanley: There is a clear exodus out of wirehouses and big banks and into the RIA space. In the independent space, we are not tied to quarter-to-quarter performance. We can act in the unequivocal best interests of our clients with no worry about hitting “sales goals,” pushing products or “maximizing public shareholder value.” That is hugely attractive.
Q. How are you better able to serve your clients at Cresset?
Hanley: Every firm talks about the resources and the scale they have, but once the dust settles and the talking ends, there is often zero action. At Cresset, I have seen action in spades and resources that I was not even aware existed. We are a partnership in its truest form – colleagues and clients. I believe Cresset offers a more robust platform at a lower cost, a curated and unique private investment offering that few other firms can match, and we provide comprehensive family office services by some of the most accomplished professionals in the country. That’s hard to pass up.
Q. How does a firm like Cresset help you build your business better than a big bank or wirehouse?
Hanley: I believe a firm like Cresset offers so many resources for advisors, from cutting-edge digital marketing to amazing institutional-quality private investing opportunities. Beyond the robust platform, we are encouraged to act like the owners we are, and that is incredibly empowering. We are all invested in doing the best we can for our clients. Put it all together, and no one does it like Cresset.
Q. Culture matters more than ever within an organization. What is it about Cresset’s culture that resonates with you?
Hanley: Team. Transparency. Trust. That really sums it up. Nothing is more important than those three things, and it is open and visible to all who work with Cresset. I am proud to be a part of Cresset because of its transparent and supportive culture. My family and I feel like we are home, and we will strive to contribute and build upon what has been created, which is truly exciting.