by bobby l. hickman
PUTTING CLIENTS
FIRST Understanding what people need, being there for them
Michael Calvelli spent more than 30 years working in financial services in New York and San Francisco before he began working directly with clients as a financial advisor. During that period, he spent his career at investment firms, custodial banks, clearing firms, and working with independent broker-dealers. He also started a broker-dealer in San Diego. “Through all that, I really thought that I would love to work with individuals,” Calvelli said. "It just felt like there was more to the financial industry that I was not experiencing.” That concern grew during the Great Recession and the economic fallout that continued for years afterwards. “Living through the 2008 mess, I really felt that clients were being underserved by the industry,” he said. “They were just looking for some more passion and understanding from their advisors about what they were going through.” Calvelli took some time away from the corporate environment to seek opportunities to work one-on-one with clients. He met a woman who ran a successful financial advising practice in Santa Rosa, California looking to retire who needed someone with Calvelli’s background to take over. The two worked side-by-side for a smooth transition. In 2015, Calvelli officially took over which brought him to his current
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role as the founder and registered principal at Open Trail Financial Consultants, and Office of Supervisory Jurisdiction (OSJ) supervisor of Protected Investors of America. Calvelli’s early experiences in the industry help shape Open Trail’s client service philosophy and their approach to helping clients, he said. That philosophy calls for team members to listen attentively and make every effort to understand their clients’ needs and then be there as a partner to help them. “Our Customer Relationship Management system is the key to executing on that philosophy,” he added. “We keep good records, so we never forget anything people have done. Before you make a call, you know exactly what's going on with the client. That high-touch approach is felt throughout our clients. They notice the difference in the attention to detail and genuine interest in what is going on in their lives.” Client education is another critical component in the Open Trail approach, whether they are new or existing clients. Advisors go through the entire process in detail with clients, reviewing reports and explaining procedures. The goal is to meet clients where they are and help them understand what is in their portfolios and how their money will be managed.
