Tim Kochis, CEO of Aspiriant, to step down in November
Tim Kochis, one of the living legends of the financial advisory business, will step down as chief executive of San Francisco-based Aspiriant LLC on Nov. 1.
Tim Kochis, one of the living legends of the financial advisory business, will step down as chief executive of San Francisco-based Aspiriant LLC on Nov. 1.
He will be succeeded by Rob Francais, 43, who has been the chief operating officer of the firm since it was formed in January 2008.
Aspiriant has nearly $4 billion in assets under management,.
Mr. Kochis, 63, said he will take a five-month sabbatical and return to the firm on May 1 as chairman of the board — a new role at the firm where he will concentrate on business development, strategic initiatives, international outreach and serving senior clients.
“I’m going to try and make the best use of my talents,” Mr. Kochis said, in an interview.
“Tim Kochis put the independent advisory firm on the map as competition to the traditional Wall Street model,” said Tim Welsh, president of Larkspur, Calif.-based Nexus Strategy LLC, a wealth management industry consultant.
“He was always an industry leader and his persona and aura in northern California was huge. Hands down, he was the guy.”
Mr. Francais said he expected “rapid growth” for Aspiriant beyond the firm’s existing offices in San Francisco and Los Angeles beginning next year.
New York, Chicago, Dallas, Atlanta and Seattle will all be considered as potential markets for expansion, he said.
“Finding the right match with the people and clients we would be joining forces with will be the primary focus, rather than where they are located,” Mr. Francais said.
Reflecting on a 36-year career, Mr. Kochis noted that wealth management has “grown enormously” and that he expected “even more growth in the future.”
“Independent-wealth advisory firms are best equipped to deliver objectivity, comprehensiveness and integrity and the demands for those services will continue to grow, ” he said.
Mr. Kochis founded Kochis Fitz Tracy Fitzhugh & Gott Inc. in 1991, which last year merged with Los Angeles-based Quintile Wealth Management, which was co-founded by Mr. Francais in 2002.
“Rob has the entrepreneurial energy and client service and staff development passion that will serve Aspiriant’s clients and its people extremely well for many years to come,” Mr. Kochis said.
Tom Tracy, 50, who has been a wealth manager for Kochis Fitz, will succeed Mr. Francais as Aspiriant’s chief operating officer.
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