Three years ago, when Christopher Hill joined his father’s firm as a managing partner, he remembers being told to carve out a niche that relates to his personal story.
“I remember my father saying something along the lines of ‘the world doesn’t need more one-size-fits-all advisors. Find specific real-world problems that tie into your own story and put in the work and develop expertise around that niche.’”
Having gone through numerous personal losses in his family, including death, disease and divorce, it did not take the Hills long to decide where they wanted to take the practice that Jeffrey Hill founded 1984. “We experienced firsthand how financial turmoil can prevent families from grieving in a healthy way,” Christopher Hill said.
In March, Global Wealth Management Group, which catered to expatriates and foreign nationals, was rebranded as Ambient Financial Advisors, which helps individuals and families navigate the financial turmoil caused by significant transitions and loss. The father-son firm, based in Boulder, Colo., works with families from diverse and cultural backgrounds, cultural identity, and geographical locations.
In recent weeks, the firm also has taken a stand on social justice and inequality issues. Christopher Hill, in July, penned a blog post in response to the deaths of George Floyd, Breonna Taylor and Ahmaud Arbery, three unarmed Black Americans, who were killed by police officers and, in the case of Arbery, by civilians. The killings spurred mass Black Lives Matter protests throughout the nation.
“I wrestled with the privilege that comes with being white and male ... In our efforts to engage those who find themselves in times of transition, grief and loss, we recognize that the recent events, and inequality in general, bring significant amounts of pain that demand empathy, care, rethought and action. It is our determination to not sit on the sidelines of these movements,” Hill said in the post.
Hill, who spoke last week during LPL’s annual Focus conference, which was held virtually, explained that the firm decided to go public with its stance after a conversation with his father and the firm’s administrative assistant, Karla Fernandez, he said.
“Our team was quick to point out that by releasing these words, we are taking a side in an industry that often avoids taking (intentional) sides. But our ears and hearts are reverently turned towards the Black community as we process the most recent and long-standing loss of life. We will remember this time,” Hill wrote in the blog.
He noted that prior to posting the blog, he sought feedback from LPL’s vice president of advisor diversity and inclusion, Lauren Taylor. LPL serves as Ambient’s broker-dealer.
Hill said the discussion of how financial planning can be different for different groups started at his firm when he was much younger. Those conversations, he said, revealed two big disconnects in the industry.