Lake Avenue Monetary, a Pasadena, Calif.-based registered funding advisory agency with $115 million in consumer property, has employed Jess Bost, former vp of strategic partnerships and consumer success at Alpha Architect, as lead monetary planner.
Advisor Alex Chalekian based Lake Avenue in 2014, and the agency now contains Rosa Chalekian, his spouse, who serves as chief compliance officer.
Bost was laid off from Alpha Architect, the boutique asset administration agency based by Wes Grey. She mentioned the agency was transferring in a special course with its advertising technique, in the direction of digital advertising, which was not her robust swimsuit.
When she left, she determined to not keep on the funding aspect of the enterprise.
“My coronary heart has at all times been on the client-facing aspect, and actually working deep in plans to assist shoppers remedy their very own issues and transfer ahead,” she mentioned.
Bost’s hiring can also be a part of Lake Avenue’s transfer to deal with feminine shoppers.
“[Alex has] been experiencing numerous that inflow in his personal shoppers, and has actually loved working with girls,” Bost mentioned. “So he wished to maneuver the course of the agency towards being instantly targeted on serving the wants of ladies. That was one of many issues we mentioned is me heralding that new imaginative and prescient and that new course.”
Bost and Chalekian each have a big presence on social media and have been profitable at utilizing the channels to construct their particular person manufacturers. They had been notably energetic among the many advisor-centric “FinTwit” person base on Twitter, earlier than Elon Musk purchased the corporate, modified the identify to X and, some say, made the platform a much less fascinating house for self-promotion and “group constructing.”
Utilizing social media, Chalekian is the advisor identified for calling out, in actual time, what many deemed to be sexist feedback made by Ken Fisher at a non-public, off-the-record convention in 2019. The following detrimental publicity prompted some institutional traders to tug an estimated $3 billion from the agency, which managed $100 billion on the time.
The injury was short-lived. Fisher’s AUM has since grown to $275 billion, and he not too long ago bought a minority stake within the firm to personal fairness agency Creation Worldwide and a unit of the Abu Dhabi Funding Authority. The deal valued Fisher Investments at $12.75 billion.
