Optivest Wealth Management carves out unique business model: "Putting 10% of every client's fee toward philanthropy"
In a world where increased competition for asset gathering and performance metrics is affecting the wealth management industry, one financial advisor takes a different path through establishing a clinic in Indonesia to treat malaria-stricken lives and engaging in numerous other projects
DANA POINT, Calif., March 17, 2015 /PRNewswire/ -- Optivest Wealth Management, headquartered in Southern California, is focused as much on transforming lives as on creating wealth and value for its clients.
The company seeks to not just be a money-making investment firm, but also to be a "model for a philanthropic minded business or business owner," according to CEO Mark Van Mourick.
The model Optivest has chosen includes putting aside 10% of every client's fee toward philanthropy. "We take 10% of our revenue and put it into our foundation," Van Mourick said. "That gets taken off before expenses, rent, employee salaries and my salary. The magnitude of what we're giving away through the foundation is a multiple of my paycheck."
Optivest employees and clients are always invited to join Van Mourick in project trips. "In the fall, seven of us went to the Dominican Republic and joined about 20 other donors," Van Mourick said.
Van Mourick likened Optivest's approach to philanthropy to its approach to investments."We've got a great network on the investment side of deal sourcing. So, for over 30 years a lot of deals have come across our desk, and we vet every one. It's the same thing for philanthropy. Because we've been in this world for a while, we see dozens a week come across our desk. Even if it might be one out of 10 in our strike zone, we're aware of a lot of good things happening out there. So if a client comes and says, 'I'm interested in education, helping youth,' etc., then there is a good chance we can help point them in the direction of some well-vetted charities, at least to help them start that journey."
In 2014, the Optivest Foundation made distributions in excess of $600,000 to people and projects in Rwanda, Zambia, Mexico, Dominican Republic, Malaysia, Nepal, the United States and more. The foundation, since inception in 2007, has given away millions of dollars in funding to Christian ministries and organizations.
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SOURCE Optivest Wealth Management
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