With more than $7.7 billion worth of assets under management, Harris myCFO Investment Advisory Services already ranks among the world's most elite independent financial advisement firms for the high-net-worth investors.
But top executives believe it's only beginning to scratch the surface of its potential.
The goal now is to build on the momentum that propelled the Menlo Park, Calif.-based firm to No. 7 on Forbes' Top 50 Financial Advisors list to attract more clients with at least $100 million in assets without compromising the comprehensive, personalized investment services that put it on the map in the first place.
In a post-Madoff world where even the wealthiest of the wealthy were victimized by supposed financial wizards and institutions once thought beyond reproach, independent, fee-only registered investment advisors provide a welcome alternative to the Wall Street mainstays that have historically dominated this highly coveted clientele.
With its integrated family office offering, built on a proprietary technology platform that was custom designed by some of its founding clients, Harris myCFO tries to be all things to all people with a portfolio of services that include investment advisory, income tax planning and compliance, estate planning, expense management, philanthropic advisory and financial reporting.
Whether you're a trust fund baby or a software chieftain, Harris myCFO's overarching strategy is to offer all the investment services and products found at the big investment firms but deliver them in an impartial, personalized and technologically convenient fashion.
"Harris myCFO has the size and scale that enables us to provide our clients with a depth of talent, high-quality investment research and risk management that is expected of a highly ranked wealth management organization," said myCFO President Joe Calabrese.
"Yet, our boutique-like culture allows us to provide innovative, highly customized solutions to our clients in a highly personalized manner," he added.
The strategy, described by Harris myCFO Advisory Services President Craig Rawlins, as "defining the client experience," means giving clients a single person to contact for any and all issues who is armed with the expertise and information amassed by teams of advisors with specialized skills across the financial spectrum.
And, because most of these high-net-worth individuals are always on the move, extremely busy and increasingly technologically savvy, Harris myCFO clients can securely tap into its financial advisory and technology platform online to examine every nook and cranny of their personal financial information.
Harris myCFO has eight offices sprinkled throughout the U.S. and 140 financial advisors. Company officials would not disclose how many clients it's now servicing or elaborate on any plans to expand its advisor roster.
"The number of advisors we have in the future will be driven by the clients we serve," Rawlins said. "The objective is to provide an industry defining client experience which requires keeping the client to advisor ratio low."
While broker-dealers and other independent RIAs are vying for many of the same high-net-worth clients targeted by Harris myCFO, Rawlins said the household investment firms-- some of which he characterized as "remarkable asset gathers"-- remain his firm's chief competition.
But he's confident that will soon change.
"If we are successful in articulating the range, integration and quality of our services to buyers that value independence and objectivity and desire an advocate, the competition in our space is limited," he said.
While proud of ascending to the top-tier of the most prominent independent RIAs responsible for managing a combined $140 billion in total assets this past year, Rawlins said "it's trumped by the excitement brewing at our firm regarding the future."
In addition to adding new advisors, Harris myCFO will serve up some new products this year to give high-net-worth investors even more money-making options.
"We are working on a series of pooled investment vehicles that may provide our clients with access to otherwise closed or asset-constrained investment managers," he said.