Former Vanguard consultant launches new firm to support RIAs
After a successful 30-plus year career, wealth management veteran and former Vanguard consultant Don Bennyhoff, who co-created Vanguard Advisor’s Alpha, is turning over a new leaf post-retirement.
The launch of his new venture, Bennyhoff and Co. is a fractional chief investment officer business serving fiduciary independent registered investment advisors. The new firm aims to provide traditional investment services like model portfolio evaluation, model construction, manager search and oversight and investment content as well as relationship management support to RIAs.
Bennyhoff’s background spans roles as a financial advisor, consultant, and chief investment officer, giving him a unique perspective on the challenges facing many RIA firms today.
“A lot of RIAs are struggling more than they realize,” Bennyhoff explains. “They have good intentions, but many are spread too thin, wearing multiple hats within their firms. By being able to allocate some of the investment and the portfolio-related responsibilities to us means that they can fully focus on their clients. We will fully support their efforts.”
That relationship is “part and parcel” with whatever growth efforts RIAs have, Bennyhoff says, because to have satisfied clients means that they have to feel good about the relationship they have with the advisor. “The trust they have with the advisor is also being satisfied with the performance of the portfolio,” Bennyhoff says.
Bennyhoff believes the firm’s true value will come from its focus on relationship management, helping RIAs enhance their client relationships and better articulate their value proposition.
“Too often, advisors get so focused on investment performance that they neglect the importance of the client
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