(Apex Wealth)
Independent wealth management
Massachusetts native Cliff Ambrose worked in management at a large insurance company for years and had a small financial advising practice on the side. Then, in 2019, Ambrose decided to go all in on his business, opening Apex Wealth. In his interview, Ambrose shared his business philosophy and why he was set on running an independent financial advising practice.
“Primarily, Apex Wealth focuses on wealth management and retirement planning, and we also work with business owners on financial planning. It’s a fee-based advisory business. We also help our clients with insurance products like life insurance and annuities. But we're completely independent and agnostic. We don't work specifically for an insurance company or an investment bank. All of our relationships are independent, so we're not incentivized by anyone, which allows us to truly be fiduciary in our capacity with our clients,” Ambrose said.
The independent financial advisor shared that Apex Wealth’s name and logo reflect his philosophy on retirement planning. “We have an analogy—retirement planning is a lot like mountain climbing. There's the accumulation phase, which is the ascent up the mountain, and then the distribution phase is compared to the descent down the mountain. And from what I understand about mountain climbing, the most difficult part is the descent down the mountain. It's the same with retirement planning; a lot of people don't quite realize how difficult the distribution phase or the descent down the mountain is. There are different challenges, such as inflation, market volatility, long-term care healthcare and social security taxes. What I've tried to do is become an expert in helping people come down the mountain as well as strategically align myself with external partners who are experts in other areas.”
Apex Wealth partners with other experts, including estate planning attorneys, CPAs and tax attorneys, to help his clients manage their finances during retirement.
When asked what he likes best about his job, Ambrose enthusiastically answered, “I really enjoy the aspect of teaching people about the different financial tools and instruments and understanding taxes and being a coach or a teacher. No one ever teaches you any of this stuff growing up. Our focus is really retirement planning because that's a very difficult phase of people's lives.”
It's no surprise that Ambrose enjoys the coaching aspect of his job because he was an athlete in high school and college and currently volunteers his time at a youth flag football organization.
Although Apex Wealth is in Danvers, MA, it serves clients all over the United States. Ambrose said that he has a robust marketing plan and attracts new customers through public relations and social media marketing, including posting videos.
“Digital marketing has allowed us to really have a strong presence, show our experience and build credibility,” the entrepreneur noted.
In addition to youth sports, Ambrose is heavily involved with the Sunrise Fund, a nonprofit in Gloucester that helps recovering alcoholics and addicts get into treatment and cover the costs.
The business owner deeply appreciates the North Shore, noting that he was raised in Gloucester, MA, and lives nearby in Danvers. “I just love the North Shore. It's a really cool place. It's a good combination of blue-collar and white-collar. My family is mostly blue-collar and built their own business. There are a lot of people around the North Shore who have done that themselves. I appreciate that a lot of my friends own and operate their own small businesses. There are a lot of hardworking, good people around here. I also love the change in seasons,” the business owner shared.
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