Schechter Wealth Strategies opened an office in New York City late last year as the Birmingham-based firm looked to capitalize on a growing economy.
The new office in Midtown Manhattan is the second satellite office for the 74 year-old wealth management firm, which also has an office in the Flint area. Schechter Wealth Strategies has notched close to 30-percent growth in the last two years. It has a goal of 15-percent growth this year and 65-percent growth by 2015.
"We felt that now is the right time with the economy on the upswing," says Stephen Blocki, COO of
Schechter Wealth Strategies.
The New York City office is staffed by one person, who is one of the company's five new hires over the last year. Blocki was recently brought on as the company's new COO and
Jimmy King (of the University of Michigan's
Fab Five fame) as the new vice president of business development. The firm now employs 30 people.
Robert Langer is the managing director of Schechter Wealth Strategies' New York Office. Blocki says the firm decided to make the investment in a New York office as a way to replicate the firm's business model in new territory.
"Our goal is to grow into any market that has access to a network of high-net-worth individuals," Blocki says.
Source: Stephen Blocki, COO of Schechter Wealth Strategies
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.