Vince DeCrow and Van Spankeren
RISE Investments, a Chicago-based Registered Investment Advisor (RIA), has been launched and is targeting generations of investors who are expected to receive more than $84 trillion as part of the Great Wealth Transfer.
RISE Investments is a partnership between Vince DeCrow, Founding Principal, and Van Spankeren, Chief Investment Officer, and will draw on the approximately 20 years of investment, advisory and client service experience and their position in the Millennial Generation. The firm serves the needs of all demographics and generations including a natural focus on high-earning millennials, an underserved segment of the market, who may also be in line for significant wealth transfer.
According to the Cerulli Group, of the $84 trillion expected to be inherited through 2045 as part of the Great Wealth Transfer, Generation X and Millennials will receive a cumulative $57 trillion from older generations. The Cerulli Group also estimates that 40% of advisor-managed assets will transition in the next ten years.
“Bridging the generational gap is a logical and foundational goal,” said DeCrow. “RISE’s mission is to be the favored permanent home not just for the next generations of investors, but also the wealthier existing generations, such as baby boomers and gen Xers. We personally have a long, 30-plus year runway to help our clients and their children build and preserve their wealth.”
An aging financial advisor population is another significant factor. According to J.D. Powers, the average age of a financial advisor is 55, with 20% age 65 or older. Further, the industry is undergoing significant consolidation of wealth managers run by older generations that have little to no succession planning in place. In the long run, that creates an element of disruption that can have a significant impact on wealth building.
“A new generation of clients, millennials, is approaching their peak earning years,” Van Spankeren said. “As millennials with long runways ahead, we’re optimally positioned to relate to and serve the younger generations.”
DeCrow noted these scenarios can also create uncertainty and concern for older generations who are focused on building and maintaining family wealth that gets passed down to their children and grandchildren. A skilled, younger advisor can bring confidence and peace of mind for all concerned.
The combination of their diverse investment experiences and industry credentials allow Van Spankeren and DeCrow to better leverage both public and private markets to build more diversified and tax efficient investment portfolios.
“Our broad range of experience and deep understanding of both public and private markets, including real estate, shapes a unique perspective and allows us to be more holistic in our approach,” Van Spankeren said. “Investors are used to what they’ve done in the past, even if it sacrifices the element of diversification.”
DeCrow has 10 years of experience. Most recently he was a Vice President of Investor Relations with Origin Investments, a Chicago-based real estate fund manager he joined seven years ago. He launched his career as a Business Valuation Associate at Duff & Phelps. He earned his Bachelor of Finance from Kent State University and a Masters from The Ohio State University.
Van Spankeren has 10 years of experience and most recently was a Portfolio Manager at Bank of America Private Bank. He joined the Bank more than seven years ago. Like DeCrow, he also launched his career as a Business Valuation Associate at Duff & Phelps. He earned a Bachelor of Finance from the University of Illinois.
Van Spankeren is further distinguished by earned professional designations. In 2019 he earned the CFA Charter, the gold standard in the wealth management industry. He also holds the CFP® credential, a designation held by only 30% of professionals in the industry. Holding both charters is a rarity in the industry.
As an independent advisory firm, RISE Investments delivers tailored investment management, financial planning, tax planning, and estate planning services to its clients. The firm has built relationships with and has access to legal, tax, insurance, and other professional service advisors.
For more information about RISE Investments, its philosophies, services, and principals please visit www.riseinvestmentsusa.com.
About RISE Investments
RISE Investments is a Chicago-based Registered Investment Advisory (RIA) firm originally established in 2019. The millennial-led RIA firm bridges the multi-generational wealth management Gap and delivers tailored investment management, financial planning, tax planning, and legacy planning services to its clients of all generations. With 20+ years of relatable experience, the principals of the firm are trusted, long-term advisors to current and future generations of high-earning, high net-worth individuals. For more information about RISE Investments, its philosophies, services, and principals please visit www.riseinvestmentsusa.com.
