Kirk Loury is the President of Wealth Planning Consulting, Inc. (WPC), a project- and retainer-based wealth consulting firm serving wealth advisors of all types.
An affiliate company, Practice in Action! (www.advisorbusinesscoaching.com), delivers an innovative, 12-month business coaching program for leaders and managers of wealth management firms. Practice in Action! emphasizes the necessary business skills of planning, time budgeting, marketing, sales, and client services. Unique to Practice in Action! is its use of Action! Groups, which are peer-level accountability teams that drive concepts into action to produce results.
WPC is producing version 5.0 of the Balance Sheet Methodology (BSM) (www.balancesheetmethodology.com) under its own brand. BSM is a fully integrated wealth-planning tool set that has among its many functions, goals-based planning, cash-flow analysis, advanced estate planning, investment product evaluation, portfolio design and selection, investment product selection, integrated investment policy statements, proposal creation, trading/execution integration, portfolio rebalancing, and custody integration. BSM has further reshaped the industry through its highly innovative pricing structure.
In 2011, WPC produced one of the first RoboAdvisor systems on a private lable basis. Now rendered as Avenue RoboAdvisor (www.balancesheetmethodology.com/plus-roboadvisor/), advisors gain a significant service extension in which all revenues are advisor owned and the entire platform is under the advisor’s full control. At a fixed price of $6,000, Avenue RoboAdvisor represents a major advancement in volume-based investment advisory at an unprecedented value.
Previously, Loury was the Chief Investment Officer for Concord Wealth Management, an open-architecture, SMA/UMA-platform provider to investment advisory organizations. At Concord, he led all investment activities comprising investment research, asset class analysis, wealth management, investment planning, investment product due diligence, and portfolio construction, with a particular emphasis on executing research into themes that alter the competitive landscape. Loury established and was the relationship manager for the largest client at Concord as well as being the top closer for clients seeking to win large investment opportunities.
At Concord, Loury designed a wide array of investment and portfolio technology services executed at large and small clients alike: a) rules-based rebalancing, b) holdings-based portfolio monitoring, c) the entire due diligence process and systems, d) wholly-customizable, educationally-focused performance reporting, and e) the Balance Sheet Methodology.
He founded and led, as the managing executive, Concord Wealth Consulting, a firm in which Loury delivered his Intellectual Property to wealth-management firms in the areas of integrated investment research, investment education, investment marketing, investment administration, and business-planning services.
He also co-founded and served as chairman for Concord Canada, a joint-venture partner of HighView Financial based in Toronto, Ontario.
Loury’s investment research innovations included: 1) the Concord Coefficient, a value-factor scoring system that demonstrates high accuracy in identifying separate accounts and mutual funds likely to produce excess return over a universe’s benchmark. 2) R/ULR (Return per Unit of Loss Risk), a proprietary analytical tool that combines both Wealth Creation and Wealth Preservation portfolio goals in a single risk measure, 3) Structural Diversification, a portfolio construction strategy that overcomes the weaknesses of mean variance optimizers, and 4) Characteristic-Based Allocations, a method that integrates traditional and alternative investment products in portfolios.
A highly-regarded writer and speaker on investment topics, Loury has developed a library of investment research material that debunks many of the myths and misconceptions existing in the investment advisory business.
For high net worth individuals, Loury is a national expert in using private placement life insurance (PPLI) as a core, wealth-management tool. Toward this end, Loury was the editor and lead author of The PPLI Solution: Delivering Wealth Accumulation, Tax Efficiency, Asset Protection Through Private Placement Life Insurance published by Bloomberg Press in 2005.
Prior to Concord, Loury served as the President and Chief Investment Officer for Spencer Trask Asset Management, an advisory subsidiary of Spencer Trask & Co., a New York-based venture capital firm. In this capacity, he developed several portfolio advancements while becoming a national expert in alternative investments’ application in investment portfolios. In addition, he was the Chief Marketing Officer for Spencer Trask Ventures, where he instituted a number of innovations such as Angel Investor Magazine and Due Diligence Marketing.
In 1995, he conceived and founded InvestWorks (www.investworks.com), an investment analytics company serving investment consultants, investment managers, institutional investors, and financial advisors. InvestWorks achieved positive quarterly cash flow and the largest number of software licenses in its competitive segment just 18 months after its marketing launch. RogersCasey, a leading institutional investment consultant, provided initial funding and now owns the firm.
Previous positions included: 1) eight years at New York Life where he was a founding partner of Monitor Capital Advisors (a quantitative investment management firm now known as NYLIM Quantitative Strategies) and the Chief Marketing Officer of New York Life Asset Management’s institutional marketing efforts and 2) six years as a marketing representative for IBM serving large financial institutions.
Loury received his B.S. from the University of Colorado, Boulder and his M.B.A. from the Harvard Business School.