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This Taiwanese American In Texas Built A $3 Billion Business Connecting Hearts To Balance Sheets



This Taiwanese American In Texas Built A  Billion Business Connecting Hearts To Balance Sheets

Name: Loren Hsiao

Firm: 22 One Advisors | Northwestern Mutual

Location: Allen, TX

AUM: $3.1 billion

Forbes Rankings: America’s Top Financial Security Professionals, Top Financial Security Professionals Best-In-State, Best-In-State Wealth Management Teams

Background: The son of two Taiwanese immigrants, Loren Hsiao grew up in a suburb north of Dallas. After graduating from Texas A&M University in 2000 with a business administration degree, he stumbled across Northwestern Mutual at a business school career fair and became enthralled by the impact he could have on clients as a financial advisor. After joining the firm, he spent his early years trying to find clients and building his book. Now, 24 years later, he is one of three partners on a team that numbers 13. Many of Hsiao’s clients today are doctors or dentists, though he also works with lots of attorneys and several business owners.

Competitive Edge: Hsiao explains that his team’s name originates from Proverbs 22:1, which reads: “A good name is to be chosen rather than great riches.” The reason behind this choice of name is because they want clients to begin thinking about goals for their financial life beyond just net worth or rate of return. “We spend a lot of time with clients asking what is your ‘good name’ so that we as a firm can connect their balance sheet with their heart,” says Hsiao. Another differentiating factor is how he applies previous case studies in order to give clients as many options as possible: “One client’s hindsight can become another client’s foresight.”

Investment Philosophy/Strategy: “We have to humbly admit to a client that there are unknowns and those include things like market timing or equity selection,” says Hsiao. “Embrace the controllables by using proven techniques that help mitigate and reduce risks while still capturing a respectable rate of return in the market. What has stayed true among the past 24 years of chaotic moments are the controllables,” says Hsiao. “Adhere to a process rather than chasing headlines.”

Biggest Challenge: Hsiao points to his early days as an advisor: “Client acquisition paired with my youth was the most difficult challenge,” he recalls. “You don’t see the fruits of your labor in the early years, but if you plant a lot of seeds that harvest will come.”

Off The Clock: Hsiao’s favorite TV show: NBC’s This Is Us. “I love what it speaks to for the importance of family and how you stick together despite your flaws.

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