$1.6B 6 Years Later: Matt Celenza on Doubling Growth, Opportunity, and Life After Merrill

With Matthew Celenza, Founder and Managing Partner at Boulevard Family Wealth

Overview

Wirehouse advisors often wonder what they are missing as they watch peers and colleagues break away to the independent space. Matt Celenza was once that guy. He believed he had access to everything his UHNW clients needed—until his move revealed just how much more he could do with true open architecture to improve client service and grow faster. 6 years after his first visit on this series, Matt comes back to share an insider perspective on “what he wishes he knew before breaking away”—the good and the bad.

Listen in…

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NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation.

About this episode…

It was nearly six years ago when we welcomed our first guest on this series.

At that time, Matt Celenza was just a few months into life as an independent business owner, the founder of Boulevard Family Wealth in Beverly Hills.

A seasoned industry professional hailing from Morgan Stanley, Smith Barney Citigroup, and later Merrill, Matt made the leap to independence after building an extraordinary $800mm-plus business serving ultra-high net worth clients.

Yet he left Merrill to build his own RIA firm.

A transition like this begs the questions: Why leave when business is good? What could possibly be missing that would warrant the risk and hassle of a move? And what about upsetting momentum?

Matt’s motivations, even back in 2018, mimic many of the advisors we speak with today—most importantly, a focus on the long-term.

In this episode, Matt looks back at his transition and shares an insider perspective on “what he wishes he knew before breaking away”:

Why he believed he had “open architecture” access to everything he needed to serve his UHNW clients in the wirehouse world. What he can do now for clients and the business that he could not do as an employee of a wirehouse. How, even though it wasn’t a primary driver for his move, he is now able to grow faster AND live a better business life.

Today, Matt’s firm has more than doubled in assets under management—and he attributes that to gaining the ability to think and act strategically.

Listen in as Matt revisits that breakaway decision with Mindy Diamond:

• The perspective of hindsight—and what he might have done differently.

• The journey of building an independent business—and how he achieved such extraordinary growth.

• Their value proposition—and why it’s evolved over time.

• The partners they chose—and how they continue to benefit from them today.

• His long-term focus—and how it is empowering him and his team.

Listen in as Matt shares a point of view relevant to any advisor who has taken the time to consider their goals and is striving to live their best business life.

Want to learn more about where, why, and how advisors like you are moving? Email mdiamond@diamond-consultants.com or feel free to give us a call at 908-879-1002.

Related Resources

A View from the Top: An Interview with Breakaway Broker Matt Celenza

What drives a wirehouse advisor to make the leap to independence? And what happens once they get to the other side? Hear it first hand in this one-on-one interview with breakaway broker Matt Celenza.

What We Can Learn When Top Advisors Leave Their Firms

If changing firms made sense to these $1B+ financial advisors, what lessons can be learned by those who manage less but aspire for more?

The Independent Alpha: Making the Breakaway Math Add Up

Advisors breaking away for independence know what they are giving up, so how can they justify making this leap? The answer starts and ends with growth.

Matthew Celenza

Founder and Managing Partner

As Founder and Managing Partner of Boulevard Family Wealth, Matt brings over 20 years of experience servicing the ultra-high net worth marketplace. Matt’s focus is marshaling all of the integral resources and providing the highest level of service needed to properly structure a multi-family office platform.

Matt began his career at Morgan Stanley before moving to Smith Barney Citigroup where he was one of the original members of the Citi Family Office. After 12 years there he moved to the Merrill Lynch Private Bank and Investment Group. Matt made the decision to take our business independent in order to truly offer best-in-class opportunities and service to our clients.

Matt is very active in the local community, serving as chairman of the board for A Better LA, and working hard with other organizations to bring equality to the inner city of Los Angeles. When out of the office, he enjoys traveling and spending quality time with his wife and their two sons.

Matt graduated with honors from Niagara University’s business program.

Licenses include: Series 7, 63, 65, Life and Health

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