When Phil Telpner established his own Registered Investment Advisor firm in the spring of 2020, some of his colleagues told him his timing could have been better. They cautioned Phil that a professional detour from Wall Street to become president of an independent wealth management firm was an endeavor suited to 2021.

Phil was hardly the new kid in town. His experience with volatility and market crises dated back to the early days of his career as a trader on the Chicago exchange. His interest in finance and investing extended to his childhood when he would treasure birthday gifts of stock shares from his grandfather at a time when stock certificates were printed on paper. Less than 15 years later, Phil was trading thousands of futures contracts on the floor of the Chicago Board of Trade.

In January, Phil knew 2020 would be the year he left behind Wall Street to travel a different road. He had learned from his father, who worked as a CPA for five decades, that finding satisfaction at work was the result of helping clients and developing longstanding relationships built on trust and transparency. By May 2020, Phil had everything set up for his practice in record time with one exception. He could not decide what to name his new firm.

After Phil dismissed dozens of names as too impersonal or downright expected, his son Andrew stepped in with an assist. Calling upon his extensive experience as a hockey player, Andrew saw that the concept of “breakout” on the ice could have an equally powerful meaning for his father.

Phil explained, “The term ‘breakout’ is used in hockey to move the puck out of the defensive end of the ice. Andrew thought it would be cool to use it for the firm name because it could also mean to break out of old Wall Street and provide independent advice to my clients. Pretty impressive for a 17-year-old.”

When Phil reached out to the Wealth Advisor Alliance, he was planning for the short term and analyzing the benefits of having a strategic partner behind the scenes for the long term. In essence, he had a new team to provide him with the support he required so he could focus on his clients.

Jonathan Rogers, co-managing partner of the Wealth Advisor Alliance, noted that Phil’s determination to move forward with his plans in 2020 is a testament to his long-term approach to wealth management: “It takes courage to leave behind what is comfortable and set up an independent practice, especially given the times we are in. I am proud we could help him in doing so. Phil’s resolve to seek out the right partners and the right approach even during turbulent times will serve his clients well when they face their own challenging times.”

With more than 25 years in the financial services industry, Phil has channeled his knowledge of capital markets into helping his clients avoid the pitfalls and traps that sabotage most investors. He credits the support of his family across three generations as the driving force that led him to found Breakout Private Wealth, the culmination of a lifelong love of investing and the majestic sport of hockey.

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