6 Months Later: Why a Former UBS Lifer Considers Independence His “Do Over”

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Mindy Diamond

A conversation with Ahmie Baum, Founder and CEO, Interchange Capital Partners

What if we all had the chance to take a “mulligan” at least once in our business lives?

That is, use the proverbial golf do-over rule as a way to reset our goals and expectations—and take that shot one more time, but this time from a whole new perspective.

That’s exactly the way Ahmie Baum describes his transition to independence.

While he was perfectly comfortable at UBS a decade ago, he started to see things a bit differently when his son Brian joined the business.

It was an awakening that made him dig deep and evaluate everything to create a clean slate. For the first time in decades, Ahmie started asking himself if UBS was indeed the right partner for the future of the business—a legacy that he and Brian would build upon and Brian would someday take over.

With $420mm under management, Ahmie felt confident in their growth and gained a new sense of courage to do it all over again.

So, in June of 2020, Ahmie, Brian and their team launched RIA Interchange Capital Partners in Pittsburgh, PA with the help of Dynasty Financial Partners.

Ahmie Baum

In this episode, Ahmie shares the unique perspective of an advisor who is just 6 months into independence – with the transition process and entrée into business ownership still very fresh – including:

  • The events that precipitated his change of heart after 4 decades in the wirehouse world—and what helped him to build his “confidence” in the independent space.
  • The other options he and his team considered—and how it was the voices of frustration with the wirehouses from millennial team members whom he heard most clearly.
  • The choice to partner with Dynasty Financial Partners—and how moving amidst the pandemic impacted planning and transition processes.
  • The limitations Ahmie faced at UBS—and how independence allowed him the ability to execute upon strategic growth initiatives in ways he could not have in the wirehouse.
  • Plus, Ahmie talks about the role of legacy—and how it became clear that once his son joined the firm, it was time to consider other options.

It’s a relatable story and engaging perspective from a wirehouse veteran who chose a new path based on answering the call of one key question. As Ahmie put it, “What would you do if you weren’t afraid?”

 

LISTEN TO ADDITIONAL EPISODES IN THIS SERIES

Ahmie Baum:

Ahmie E. Baum is the CEO and Founder of Interchange Capital Partners. Using a collaborative and comprehensive process developed over 40 years of practice in financial services, Ahmie has built a team that has passion for what they do that executes for each client’s unique needs. He and his team consistently strive to deliver a “WOW” client experience.

Ahmie has committed every day to helping clients and their families build financial safety nets. As a child, he experienced firsthand the challenges of financial hardship and consequently he has built his practice on the compassionate understanding of each client’s unique circumstances. Ahmie is committed to giving his clients the guidance, education and resources they need to make wise financial decisions that help them grow and protect their wealth while achieving their goals.

As a graduate from the University of Pittsburgh, Ahmie began his career with EF Hutton in 1973 and transitioned to UBS in 1993. During his 27 year career at UBS, he earned the prestigious Wealth Advisor designation. Nationally recognized, he has been named to the Barron’s Top 1,000 Financial Advisor List. Ahmie is a CERTIFIED FINANCIAL PLANNER™ (CFP®) and received the Executive Certificate in Financial Planning from Duquesne University School of Leadership and Professional Advancement.

Ahmie and his wife, Sara, have 3 children and a granddaughter; they live in the Fox Chapel area. He has found yoga, meditation and plant-based eating to enhance his values of health, love and gratitude. He enjoys wood turning, golf, reading, music and biking as well as time with family and friends. He and Sara are very active within the charitable community.

 

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