Seeing the opportunity to address the growing demand for comprehensive financial planning and high touch service, Taylor Heininger and Hart Williams leave Bessemer Trust to form Cloud Capital with Seattle-based Venture Capitalist, Sean Sternbach.
Cloud Capital is re-imagining wealth management by bringing planning and investment tools from Bloomberg’s Top Rated Advisory firm, combined with scalable family office services. With offices in Seattle and Los Angeles, Cloud Capital is well-positioned to serve clients across the Western United States.
“We saw that clients were being underserved in a variety of scenarios, so we sought to change that,” said Hart Williams, Co-Founder and CEO. “We uncovered that wealth management clients desire a more detailed and comprehensive planning process, and that they need services to scale with them as they progress through life. We use innovative technology paired with expert guidance to meet those needs.”
Cloud Capital’s offering includes:
- Comprehensive financial planning with a liability-driven investment framework
- Tax-efficient investment management
- A family office suite of services through strategic partnerships
- Total alignment between clients, owners, and employees
- Technologies that enable clients to interact and communicate seamlessly
Leveraging years of industry experience, Cloud Capital provides a comprehensive planning-focused approach inclusive of illiquid assets, personal assets (cars, art, and homes), current liquid assets, and potential future events (pension distributions, social security, business sales or estate distributions). This foundation is then layered with a liability-driven investment approach allowing clients to dictate what financial goals and objectives are essential, important, and discretionary. With this understanding, the client’s asset allocation becomes prescriptive, rather than a guess at risk tolerance.
Clients are supported with family office services through strategic partnerships. These partnerships cover insurance, tax advice, trust administration and documentation, family communication assistance and next generation planning and private aviation. This structure ensures clients only pay for the services they use. Day-to-day client management has been built with select technologies, creating a more consistent experience. This approach is drastically different from what most clients experience at large banks and multi-family offices.
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“We know that every client situation is unique, and we strive to deliver the most value possible by developing a customized solution that accounts for all the client’s current and expected assets, including their expected human capital. This allows us to minimize subjectivity in the risk assessment, leading to an asset allocation that is in alignment with the client’s current needs and long-term goals,” said Taylor Heininger, Co-Founder and President. “Aligning our values and interests with our clients is critical, which is why all of us [at Cloud Capital] are fee-paying clients of the firm’s services.”
The founding leadership team represents decades of experience from some of the largest and most prestigious firms in the industry. Cloud Capital is partnered with Charles Schwab, one of the largest custodians following the acquisition of TD Ameritrade. Partnerships are also established with top-tier asset management companies including Dimensional Fund Advisors, Vanguard, and others.
“Amazon has taught us about creating the best customer experience,” said Sean Sternbach, co-founder, and CIO. “It is our mission to create the best customer experience at Cloud Capital and in doing so, democratize access to financial resources at fair prices. As we continue to grow, this access will include private placement opportunities that our clients would not have been able to access before.”
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