University Employees' Financial Journeys: A Guide by an Expert Advisor

Discovering a Niche in the University Sector

Natalie Pine, who studied electrical engineering at Rice University in Houston, joined Briaud, the financial advisory firm started by her mother, in 2007. She quickly took on the role of COO at the College Station, Texas-based firm, which manages about $830 million in client assets. “I became the person who implemented our strategic initiatives,” says Pine, now 47.

As COO, Pine began digitizing the firm’s records and examining client accounts. What she found surprised her: a significant portion of the firm's clients were university professors and administrators. This insight led her to focus on developing the firm’s specialty in serving this sector.

The Origins of the Educational Niche

Pine credits her mother’s network for the firm’s initial connection to the university community. When her mother founded the firm in 1986, her husband was a civil engineering professor at Texas A&M University. This connection helped build a client base that included many university professionals. Over time, the firm expanded its reach beyond Texas A&M, attracting clients from other universities as well.

The commonalities among these clients, such as their retirement benefits, became a key factor in shaping the firm’s approach. Professors often go through three stages of retirement planning: thinking about it, really considering it, and then setting dates. They typically have a pension or an employer-only defined-contribution plan, along with a 403(b) and a 457, which is deferred compensation. Unlike in a company, the 457 can be rolled over into an IRA, offering additional flexibility.

Tailoring Services to Meet Unique Needs

Pine emphasized the importance of understanding the specific needs of university employees. Many are in their 50s and need help with investment planning. The firm focuses on helping them optimize their retirement benefits, which can vary significantly between institutions.

When Pine identified the niche, the firm had four advisors. They initiated a training program to ensure the team understood the nuances of working with university professionals. This included topics like retirement planning and choosing between defined contribution and pension plans.

Expanding the Business Through Awareness and Education

To market their expertise, the firm launched an awareness campaign among existing clients. This allowed them to showcase the value they added and encouraged referrals. Word-of-mouth became a powerful tool, as satisfied clients shared their experiences with others.

The firm also focused on thought leadership by publishing blog posts and hosting webinars. These efforts not only educated clients but also attracted new ones who were looking for expert guidance on optimizing their benefits.

Adapting to the Preferences of University Professionals

University professionals, particularly professors, value expertise. Pine noted that they expect thorough analysis and data-backed recommendations. This aligns with her own background in electrical engineering, where detailed explanations are essential.

She also highlighted the importance of presentation style. Engineers and academics appreciate comprehensive information, which helps build trust and confidence in the firm’s advice.

Expanding Beyond Universities

In recent years, the firm has also begun serving government employees, whose benefits and retirement planning needs are similar to those of university professionals. Pine emphasized the importance of ensuring clients meet the required retirement thresholds to maximize their benefits.

A New Specialty: Supporting Families with Special Needs

Pine’s personal experience with her son, who has special needs, led to another area of focus for the firm. Around the time her son was 12, a family with a child who had special needs approached the firm for help. Although Pine couldn’t assist due to the firm’s minimum asset requirements, this experience inspired her to develop a network of resources for such families.

She worked with nonprofits, CFPs, and special needs attorneys to provide guidance and support. The firm also joined the Academy of Special Needs Planners and obtained the Chartered Special Needs Consultant credential.

Serving All Clients, Regardless of Assets

For clients who don’t meet the firm’s minimum asset requirements, the firm offers referrals to professionals who can provide the necessary support. This ensures that all families, regardless of their financial situation, receive the help they need.

Through her work, Pine has demonstrated how a deep understanding of specific client groups can lead to meaningful and successful business strategies.