"Our latest research shows that the majority of traditional financial advisors have started to explore the benefits associated with a shift toward a family office model," says Rick Flynn, head of the Rothstein Kass Family Office Group. "These advantages can include greater client retention, enhanced revenues and improved client acquisition."
Kasza had never heard of a family office until after he left the Secret Service and became involved with one. He went to work with an asset management firm to build a security program and then got involved in the CEO's family office.
Among the common problems faced by wealthy families is the embezzlement of their money by employees, often over long periods of time. When families are alerted to these crimes, they are typically in denial, Kasza says, and reject the report. Why would somebody so close betray them? Typically, the motive is greed or the employee's feeling of entitlement or even behavioral problems. It makes it more difficult for the family to trust anyone.
In December 2011, Kasza was recruited by Hillard Heintze, a security firm based in Chicago, to serve as senior vice president and managing director of strategic relationships. The firm was founded in 2004 by Terry Hillard, who previously served as Chicago police superintendent, leading 13,500 officers, and Arnette Heintze, who has planned, designed and implemented security strategies for U.S. presidents and other world leaders.
"I've known Arnette for over 20 years, and I like them and admire their work ethic," Kasza says.
Kasza quibbles with my idea that Secret Service agents look like Eastwood. "We are a very diverse group," he says. One of his friends in the service had been the first chair violinist in a symphony orchestra before joining. All agents go through training in Glenview, Ga., and then "go out and learn the ropes in the field," Kasza says.
Agents are trained to evaluate and judge the amount of risk involved in a particular situation. The Secret Service describes its two areas of operation as "investigative" and "protective." Kasza ran the service's counterfeit money squad in New York. He later became the agent in charge of the Chicago office, which includes parts of Illinois, Indiana and Wisconsin. Whenever a person of importance came to Chicago, Kasza arranged the protective services.
He acknowledges that being security-minded is part of the character of an agent. Your observation skills are never turned off. "If you are good at the job, they are an element of your character."
Hillard Heintze works with corporations, families and government agencies worldwide. The firm was named by the city of Chicago as a liaison between the business community and police. It also provided security for the NATO talks in Chicago in May 2012.
"So many firms use security as an add-on and consider it a money burner," Kasza says. But "everything starts with risk assessment and vulnerability." He believes he has found his ideal spot with Hillard Heintze. He loves the security work he does and the role he plays in protecting people from threats they may not even know about. But what he remembers most about his 30-year career is "the good times you have with colleagues." Kasza says: "I feel really blessed to have gotten to do exactly what I wanted to do."