Stephen Davis: Building a Simple, Elegant Wealth Management Practice

Several years ago, Stephen Davis found himself at a crossroads. As a generalist advisor, he worked with a wide range of clients but struggled to build strong relationships with the CPAs and centers of influence who served the high-net-worth individuals he aspired to attract.

Today, Davis leads Safe Harbor Asset Management in Huntington, New York—a boutique wealth advisory firm defined by steady recurring revenue, consistent referrals, and a sharply focused client base. His transformation was shaped in part by strategies he refined through the CEG Worldwide coaching programs, which provided a framework for building a high-value practice.

1. The Wealth Management Formula

Davis understood early on that investment management alone was no longer enough for affluent clients. He had already begun advising on 1031 exchanges to help mitigate capital gains taxes. But through CEG, he adopted a more formal and systematic approach to delivering and communicating his services using a simple, powerful formula:

Wealth management =
Investment consulting + Advanced planning + Relationship management

• Investment consulting addresses affluent clients’ top priority: preserving their wealth.
• Advanced planning tackles four key areas beyond investments—wealth enhancement, wealth transfer, wealth preservation, and charitable giving.
• Relationship management includes two dimensions: nurturing deep, long-term client relationships and coordinating with other professionals (such as attorneys and CPAs) to implement complex planning strategies.

2. Building an Expert Team

One of Davis’s key breakthroughs was assembling a collaborative team of specialists. He now partners closely with a CPA, an estate planning attorney, and a tax attorney to address the multifaceted needs of his clients. This structure enhances client outcomes and naturally leads to introductions to ideal prospective clients. Davis also draws on CEG’s extended network for high-end planning needs, including specialized insurance strategies.

3. Mind Mapping: A Visual Discovery Process

As part of his discovery process, Davis uses mind mapping to visually capture a client’s goals, relationships, and key concerns. Displayed on a large screen, these visualizations help clients see the big picture—how their financial strategies align with their broader life objectives.

“Mind mapping connects the dots for clients in a very powerful way,” says Davis. “It helps them clearly see the value we bring to the table.”

The Outcome

The result is what Davis describes as “a simple and elegant practice.” With a highly capable staff, a trusted network of experts, and a streamlined process, his firm now operates with exceptional efficiency—freeing him to focus on what matters most: serving high-net-worth and ultra-high-net-worth families with clarity, purpose, and impact.