Michael Leanza, a 20-year industry veteran, took his business independent just a few months before the market collapsed in 2008. And yet his business is thriving, thanks to what he calls his “active-passive” approach, a simple strategy any advisor can adopt that seems to work well for wealthy clients.
Leanza, founder and president of The Genwealth Group in Maplewood, N.J., got his training at a wirehouse before joining Bank of America, where he spent 17 years before going independent through LPL’s hybrid RIA program in May 2008. Leanza currently manages $120 million in assets for 120 clients, but he expects to grow his assets to $500 million over the next two or three years via high-touch service and his popular momentum portfolio strategy, a discretionary service he has offered since July 2009.
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