Explore Our
“Off The Wall” Blog

Unique, straight-forward, unfiltered opinion on topics of concern for individuals with newfound wealth.

HOT OFF THE PRESS – Two New Monument Partners

nextgenerationleaders

Monument recently celebrated its 13-year anniversary and we have some news to share.

I’m writing this announcement on behalf of both Dean and I…this is OUR announcement, together. Sure, I could write it in a single sentence, but that’s no fun. And if you know me at all, I’ll never pass up the opportunity to tell a story.

So, here’s a quick Monument story that includes some history, major decisions and milestones to frame this exciting news.

 

A Brief History

In 2008, Monument was founded by four partners. We broke away from a big, traditional Wall Street firm for a lot of reasons, but one of the major reasons was that we saw the world and opportunities in the wealth management space differently than the big firms. For me, the last straw was the day a junior manager at that firm walked into my office and asked me where my tie was.

By 2011, one partner’s vision did not align with the rest of ours, so we figured out an amicable way for both parties to pursue their own goals and the three remaining partners kept forging ahead.

Fast forward to 2014. There was another brewing divergence in philosophies. Dean and I knew the future of the business resided in giving advice that was clearly aligned to each client’s wealth plan and investments. The future was helping clients better understand obstacles through thoughtful planning while also inspiring them to make decisions guided by our unique opinions and straightforward advice.

We knew that this would require a meaningful, multi-year investment in smart people.

The remaining partner saw things differently, and by January of 2015, he chose to leave the partnership and pursue other opportunities outside of our industry.

 

Reinventing the Monument Team

Down to just the two of us, we embarked upon a journey to reinvent the “Monument Team.”

The Associated Press Stylebook says, “Capitalize nouns that constitute the unique identification for a specific person, place, or thing.”

We decided that the Monument Team constituted unique identification, so the first thing we did was ban the word “staff” and always capitalize the word Team.

From there, we set out to hire smart people, fill new roles on the Team, and flatten the organization so that the whole enterprise was running as one machine.

From a business perspective, we made changes that we knew would create some flat growth years. For example, we:

  • Transitioned to a fee-only revenue model
  • Transferred an affiliated, revenue-producing advisor and his entire client base out to another firm
  • Made a careful decision to part ways with some clients who were not a good fit for our new vision

It worked, and by January of 2018, we had entered a new era.

Since then, we have grown the size of our business by 120%. That’s a 1.2x increase of the amount of client assets we manage…in just three years.

Oh, by the way, “Since then, we have grown…” doesn’t mean just Dean and me; it means, “we the Monument Team.”

It’s been an exciting three years, but with growth comes adjustments. There is still a business to run, which means people have to run it…and learning to run a business takes time.

So that brings us to the news…

 

Monument’s Next Generation of Leaders

Our clients have always wanted clarity into our long-term business plans. It’s more than just general curiosity. We often ask them the question, “What would happen if you were gone tomorrow?” Clients want to know our answer, too, because they hire the Monument Team for the long term and for the next generation.

They want to know who’s going to be around.

Dean and I have figured it out.

We have decided to formally announce the next generation of leaders at Monument. Effective July 1st, 2021, Jessica Gibbs, CFP® and Emily Harper, CFP® became Vice Presidents and Partners at Monument. (See the official press release with more details here.)

Jessica and Emily are now equity owners and members of the LLC, right alongside Dean and me. With this decision, we have created a succession plan instrumental to providing straightforward and unfiltered advice for many years to come.

Oh, don’t worry…Dean and I are far from riding off into the sunset. Our wives would both kill us if we didn’t have anything to do all day. That day is so far out into the future, neither of us can even envision it.

Jessica and Emily deserve this, and frankly, so do our clients. They took the initiative years ago to think and act like owners and have dedicated themselves to being Team leaders.

We want to congratulate them formally, and we hope you take a moment to do so as well.

Jessica – jessica.gibbs@monumentwm.com

Emily – emily.harper@monumentwm.com

Keep looking forward.

Partners Signature

 

David B. photo

David B. Armstrong, CFA

President & Co-Founder

Dave got into the industry when he discovered his passion for finance in his mid-20’s. He’s a combat veteran and served as an officer in the United States Marines Corps on both active duty and in the reserves, retiring at the rank of Lieutenant Colonel. While serving on active duty, Dave was unable to spend money on deployments, so he became a self-taught investor. Along with a few bucks cash as a bouncer, his investing performance grew to be good....

Learn more ...

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument.

Please remember that if you are a Monument client, it remains your responsibility to advise Monument, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at https://monumentwealthmanagement.com/disclosures/. Please Note: IF you are a Monument client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

Please Note: Monument does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Monument’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.  It should not be assumed that your Monument account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your Monument accounts; and, (3) a description of each comparative benchmark/index is available upon request.

Stay up to date!

Subscribe to our “Off the Wall” Blog for articles and videos on all things wealth management, by all members of our Team. Unlike Facebook, we will never share your data with anyone.