Samantha Garcia, Senior Wealth Advisor for Halbert Hargrove, joined Julie Cooling, Founder and CEO of RIA Channel, to discuss the value of providing advice to divorcing clients.
Halbert Hargrove started as a broker-dealer in the 1930s and started an independent RIA in the 1980s. The firm has $3 billion in AUM, which is relatively large for an employee-owned firm. The chairman of the firm has resisted acquisition offers, as he has a strong conviction to remain independent and employee-owned.
Garcia is a Certified Divorce Financial Analyst (CDFA) professional who specializes in pre-divorce financial planning. It is important for clients to understand the long-term financial implications of divorce as divesting or keeping specific assets may have different wealth implications. A CDFA professional specializes in the financial implications of divorce, and may provide advice that attorneys or mediators typically do not.
Garcia is also a member of Harbert Hargrove’s investment committee, which evaluates funds and investment managers. Participating in this process allows her to better understand the firm’s offerings as well as bring the client’s perspective into the fund selection process. The firm has long offered clients access to alternative investments, which provided higher return options than fixed-income allocations in the recent low-yield environment.
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