Richard Haas

Richard Haas, founder of San Jose, California-based Financial Catalyst Group, manages approximately $60 million for 40 clients and client families by using the same sort of responsible practices that he has applied to the rest of his life. From his days in the Peace Corps to his initial choice of profession (estate planning-oriented life insurance) and his current wealth management business, Haas has always been driven by one goal: to do what's right.

His clients have similar value systems that emphasize personal responsibility and family stewardship. "My clients share my kind of world view, and that is why I am so pleased to work with them," Haas says. "I won't spend time with somebody who believes that wealth makes you better or different than anyone else. Wealth is a resource and a means to an end, and the end is a well-lived life. We see eye-to-eye on that sort of thing."

Haas is not kidding around when it comes to being highly selective about whom he takes on as a client. It says so right on his Web site: "We restrict our business to work only with those situations where we feel we can add significant value by establishing and maintaining a mutually beneficial and respectful relationship."

To ensure that they do right by their clients, Haas and his firm offer consultative wealth management designed to position wealth so that it fully supports all that clients deem important to themselves and their loved ones. Haas' approach is based on a deep understanding of his clients and their values, as well as their financial resources. Working with a team of experts, Haas develops and oversees investment plans built around fiduciary standards of care and prudence— with a special emphasis on advanced areas of wealth transfer and charitable giving. "Our goal is to maintain a lasting relationship based on delivering responsive and accurate service along with those financial products that we agree are appropriate for the client's situation. For that reason, above all, we are committed to the highest level of integrity and care."

His care for others also extends well beyond his client base. In 2000, he co-founded The Fistula Foundation with his daughter Shaleece and served as its chair until his resignation in 2005. During that time, the foundation raised more than $5 million to help women in Ethiopia injured during childbirth. He continues to be involved in raising money for various causes.

Haas' emphasis on personal responsibility began at a very young age: He was an only child, and his father died before Haas was a teenager. Later, he joined the Peace Corps and served as a teacher in Ethiopia from 1967 through 1969. After finishing his Peace Corps assignment, he moved to the San Francisco Bay Area and began his career in financial services with a major life insurance company. He founded Financial Catalyst Group in 1977 and earned a master's degree in taxation from Golden Gate University in 1980. Today, Haas is a licensed insurance agent in several states and a registered representative and investment advisor representative with NFP Securities, Inc.
Haas' dedication to wealth management is largely the result of the training in this area that he has received from CEG Worldwide, the leading advisor coaching firm. "Everything that CEG Worldwide does is rooted in real-world research," Haas explains. "That's why the information they provide works so well. It is grounded in what people truly want and need and rings true on many levels. Their approach can change clients' lives and businesses for the better."

Haas says that the CEG Worldwide programs have changed his business by reminding him of some of the basics of successful entrepreneurship, such as systems and planning. From a systems standpoint, Haas has ensured that his day-to-day procedures are both routine and documented. From a planning perspective, Haas has begun to discuss ways that the business can evolve with at least one other talented and younger wealth manager.

Whether or not Haas ultimately brings a new professional on board, he's committed to a succession plan that will provide his clients with appropriate continuity. "It is very important to me that the continuity of the firm be respected," Haas says. "Otherwise there is no real business. A business is a sum of its parts, and in this case, the business has as much to do with the clients as it does with me. If someone were to come along without the values that my clients and I share, we might gain some revenue, but the real reason the business exists—as a way of adding value to shared personal and professional priorities—would be lost."

Because of his background and his values-based commitment to personal, professional and family responsibilities, Haas continues to be selective, regardless of potential opportunities or the current economic climate. "We could be bigger," Haas says, "and perhaps we should be more concerned about growth. But in fact, we've done very well and it is more important to me to ensure that we work with clients whom we can fully support than with clients who are wealthy but do not necessarily share our values."

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