We are pleased to announce the promotion of Andrew Altfest, MBA, CFP^®, to President and Principal Advisor of Altfest Personal Wealth Management^®.

This has been done with a lot of thought about Andrew’s contributions to the firm, the leadership role he is already playing, as well as the needs of the firm and our clients as we move into the future.

Andrew will take a stronger role on the firm’s six-member leadership team in this new position.  Andrew’s promotion reflects a new title; however, he will maintain his current daily responsibilities.

Importantly, Lew Altfest will continue his active involvement as Chief Executive Officer, Chief Investment Officer and Principal Advisor, and Karen Altfest will remain Executive Vice President and Principal Advisor, creating educational programs for our clients while continuing her focus on women’s financial needs. Both Lew and Karen continue to find great satisfaction and meaning in their work, and have no plans to retire.

Andrew’s promotion reflects his invaluable contribution to the firm for more than 15 years. His excellent work and leadership with clients and investments have been key drivers of Altfest’s success. He has been instrumental in moving Altfest into the future with ideas designed to enhance the client experience while maintaining the firm’s signature personal touch.

Andrew’s accomplishments and contributions include:

• Creating a customized portfolio process that seeks to generate above-market returns
• Recommending various sector funds (financials, healthcare, real estate, etc.) for our client portfolios that have generated above-average returns
• Organizing the firm into wealth management teams to serve clients better
• Leading a number of initiatives to strengthen and expand the firm and its offerings by providing more services, including estate plan issues, elder care planning, taxes, gaps and opportunities in insurance, loan evaluations, and more
• Realigning the investment team into generalists and specialists to optimize results for you
• Enhancing the due diligence and selection process for mutual funds and managers
• Driving the firm’s adoption of leading technology to improve decision-making and productivity

Andrew advises clients about their personal finances and drives financial planning strategies across the firm. He is an active member of our Investment Committee and the Portfolio Action Group, which shapes our world-class, value-oriented investment strategy for client portfolios.

Andrew has spearheaded a number of initiatives to expand the firm. These have included organizing practice groups focused on different client interests, launching private equity solutions and directing the firm’s Young Professionals group, aimed at millennials.

He also has encouraged formalizing our investment processes, and led the introduction of a new technology process that enables digital financial planning to enhance decision-making, client interactions and productivity. Additionally, Andrew leads the firm’s efforts in the tax management of investment portfolios and advises clients on charitable contributions.

Andrew’s Biography

Andrew joined the firm in 2003. He received his BA with honors in English from Cornell University, and his MBA from Columbia University’s Graduate School of Business. He is a Certified Financial Planner^®.

Andrew is a frequent speaker at local universities, industry conferences and the American Association of Individual Investors, and he mentors young financial advisors and New York University students seeking to become Certified Financial Planners^TM. He is Chairman of the New York City Chapter of the National Association of Personal Financial Advisors (NAPFA). He has appeared regularly in the press, including The Wall Street Journal, Bloomberg News and Dow Jones Newswires.

Andrew is a Board Member of the Lower East Side Jewish Conservancy, and sits on the Junior Advisory Board of the New York Common Pantry.

Awards and Recognition

• Forbes Best-In-State Wealth Advisor in New York City, 2018, 2019^[1]
• InvestmentNews 40 Under 40 in the Financial Advisory Industry, 2018^[2]
• Forbes List of America’s Top Next-Generation Wealth Advisors, Top 15 Percent, 2017, 2018^[3]
• Financial Advisor magazine’s Due Diligence/Research Manager All-Star Team, 2012, 2013^[4]

Please join us in congratulating Andrew on this well-deserved promotion.

 

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[1] Forbes’ Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained via phone and in-person due diligence interviews, and quantitative data. Advisors who are considered have a minimum experience of seven years. The algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their business and in their approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. There is no fee to participate.
[2] InvestmentNews’ 40 Under 40 recipients are selected after a review of key criteria editorial staff have used to weigh the average 1,000 nominations received each of this project’s five years, including accomplishment to date, contribution to the industry, leadership and promise. There is no fee to participate in the ranking.
[3] Forbes’ ranking of America’s Top Next-Generation Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of professionals with a minimum of four years’ relevant experience. Factors reviewed include revenue trends, assets under management, compli­ance records, industry experience and best practices. Also, interviews are held via telephone and in-person conversations. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. There is no fee to participate.
[4] Nominations for an All-Star Research Team are sought from readers of Financial Advisor and Private Wealth Management magazines, as well as from attendees of the Fiduciary Research Manager Summit. Nominations from individuals outside a nominee’s firm are weighted far more heavily than those who were nominated by themselves or their partners. There is no fee to participate in the ranking. Frequency of a nomination also played a role in selection. While the top nominees have different investment philosophies and disciplines, they all have a practice or strategy that sets them apart. There is no fee to participate in the nomination process.

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