Blue Chip Partners, led by founder Robert Steinberg, has established itself as a top RIA firm in America with a team that custodies assets worth $1.3 billion. Steinberg’s background in accounting and law, as well as his previous experience at Deloitte and Honigman, has provided him with the expertise needed to offer clients a wide range of financial planning services. The firm, which was started in 2004, now boasts 33 employees who serve around 800 clients, many of whom were originally colleagues of Steinberg from his days as an estate-planning attorney.
Blue Chip Partners prides itself on building strong relationships with clients by offering a comprehensive range of services, including investments, taxes, and estate planning. The firm has different subsidiaries that specialize in each segment of financial planning, making it a one-stop shop for clients. Additionally, Blue Chip Partners actively educates clients through social media and a podcast, ensuring that clients are well-informed about their financial decisions.
A key competitive edge for Blue Chip Partners is its focus on excellent employee hiring and retention. Prospective hires undergo the Caliper Profile assessment, a personality test designed to predict future job performance. By hiring team players who understand the importance of collaboration, the firm is able to provide top-notch service to its clients. Steinberg believes that this emphasis on hiring the right people has been instrumental in the firm’s success.
In terms of investment philosophy, Blue Chip Partners takes a unique approach by focusing on dividend growth as the primary equity portfolio strategy. This strategy involves investing in companies with a track record of paying and growing dividends, which helps to boost client confidence even during market downturns. The firm also maintains a 70/30 allocation of equities with the rest in cash and fixed income, favoring a plain vanilla approach to fixed income investments.
Looking ahead, Steinberg remains optimistic about the economy and the markets, anticipating that inflation will continue to moderate. While he doesn’t expect significant changes that would impact the market, he believes that interest rates will likely remain stable. Despite potential challenges, Steinberg advises clients to remain patient and resilient, reminding them that setbacks are temporary and that their investments will continue to perform well in the long run.
In conclusion, Robert Steinberg and Blue Chip Partners have built a strong reputation as a top RIA firm by offering comprehensive financial planning services, building strong relationships with clients, and focusing on excellent employee hiring and retention. The firm’s unique investment philosophy, which emphasizes dividend growth, has proven successful in boosting client confidence during market downturns. As the firm looks towards the future, Steinberg remains cautiously optimistic about the direction of the economy and advises clients to stay patient and focused on their long-term financial goals.
