While Halbert works on that, it’s also busy doing what it takes to remain relevant and growing. In 2013, it nearly doubled its assets after it added a $1.5 billion family office to the fold, which joins an existing family office with about $125 million in assets. That deal was less about the family office per se and more about gaining access to the investing acumen and industry connections of Duncan Smith, who Hill describes as “arguably one of the top three or four people in the history of money management.”

Smith was a key player at Frank Russell Co. back in the day, and has been the lead advisor to this family office for about 20 years. Halbert says Smith approached them about taking over for him as he transitions away from the family office.

Elsewhere, Halbert is involved in a couple of think tank-type endeavors looking at some of the big issues facing the advisory world. It started the New Retirement Forum, a nonprofit that works with academia to explore issues surrounding the so-called new retirement of increased activity and longevity. And Hill helped create the International Center for Wealth Advisory Excellence, an affinity group for founders and principals of wealth management firms who want to create a legacy by building sustainable, successful businesses that will survive their retirements.

Whether its industrywide or at Halbert itself, Hill and his team say they aren’t resting on their laurels. “We tend to keep pushing because you have to,” Hill says. “The worst thing that can happen is you get fat and satisfied and think things are going well so might as well keep it that way.”

 

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