((L-R) Awbrey Swanson, Stu Malakoff and Jessica Earls | Photo courtesy of Bend Wealth Advisors)
Bend Wealth Advisors Offers Customized Approach Tailored to Individual Goals
A fiscal guide who headed West after honing a wide range of skills over three decades, primarily on the East Coast, has established a foothold in Bend to further aims of helping clients take the reins of their financial future.
Bend Wealth Advisors President Stu Malakoff launched his company, which recently occupied a new location on Colorado Avenue, with a mission to serve as a trusted financial partner and provide an approachable environment to develop relationships, explore goals and instill confidence regarding customized plans towards achieving individual visions.
Malakoff chose to operate his enterprise through an affiliation with Raymond James to maximize flexibility, following a career primarily in institutional finance, and believes that what truly sets him apart from other financial advisors is a combination of his education, experience, and unwavering commitment to his responsibilities.
He said, “It’s routine that I keep abreast of developments that impact the financial markets, but I ultimately rely on my 30 years of experience to carefully consider how that information should influence the decisions I make on behalf of my clients.”
Malakoff is a Certified Financial Planner (CFP) professional and holds the Certified Divorce Financial Analyst (CDFA), Certified Plan Fiduciary Advisor (CPFA) and Chartered Retirement Planning Counselor (CRPC) among multiple designations — indicative of his commitment to expanding his knowledge base in order to best serve his clients.
As a CDFA, Malakoff provides financial guidance in the divorce process to one or both spouses and ideally likes to get involved “early on” as he says he has found that the biggest practical obstacle most people have around initiating a divorce is not knowing beforehand whether they can emerge financially independent so that they can confidently get on with their lives.
“That’s where I add the most value,” he said. “I help divorcing clients to inventory their finances and sources of income. Armed with accurate data, I can then give some clarity to one or both spouses on what their financial picture might look like post-divorce, and if it aligns with their priorities for their new life.
“Even very affluent families are unclear about how their resources will ‘translate’ into their desired post-marital lifestyle. Once articulated, those objectives can drive an optimal divorce settlement, so that a win-win outcome is achieved.”
He also provides support to attorneys and mediators who have been engaged by one or both parties to facilitate information gathering.
Prior to joining Raymond James, Malakoff was affiliated with Morgan Stanley and was a Senior Vice President with Merrill Lynch Wealth Management. He obtained a bachelor’s degree in economics from the University of Rochester in 1990, a Master of Business Administration with Beta Gamma Sigma honors from Columbia Business School in New York in 1996, and worked in corporate banking until 2001, specializing in lending to prominent media and telecommunications companies.
Malakoff has three grown children and along with his wife, Vicky, moved cross-country from the Princeton, New Jersey, area after visiting Bend when their son, Schuyler, attended an academic center of excellence program in Central Oregon.
He said, “We were originally focused on the East Coast but were drawn to Bend not necessarily for the lifestyle attributes, though they are undoubtedly attractive, but it’s more the community. The people that we knew who moved here said it is a given that you are happier in Central Oregon.
“In becoming an independent financial advisor, I also chose an affiliation with Raymond James as they provide a great platform for trading and research, as well as performing the critical compliance function, and I am able to effectively advocate for clients to deliver the end product
“One of the reasons I left Merrill Lynch to start this company was to be able to work with clients the way they want to work with me, rather than being an employee or simply an asset manager.
“I also work on a consultancy basis and one of the niches I have developed over the years is the financial analysis associated with divorce, which aligns well with a consultative approach and requires additional skills.”
Malakoff seeks to offer guidance for reaching important goals and while many people undoubtedly have a busy life, there comes a realization that putting a financial future “on the back burner” is not in their best interest.
Given that such planning may not be your area of expertise, he says BWA aims to fulfil a role as an experienced advisor who has clients’ financial well-being at heart and can help you put your best foot forward.
Describing himself as something of a “generalist” through gathering a broad array of skills during his professional career, Malakoff offers services including for:
- Families and Individuals — Planning that balances needs for today with goals for tomorrow, including college savings plans;
- Business Owners — Guidance on everything from 401(k) management to succession planning;
- Corporate Executives — Benefits planning and wealth strategies specific to each situation and needs;
- Retirees — Strategies for preserving assets and providing income for retirement;
- Women — Guidance specifically for the needs of women executives and entrepreneurs;
- Divorce Planning — Conversations to help move forward with your life.
He works with clients across 21 states and is ably assisted by Client Relationship Manager Awbrey Swanson and Client Associate Jessica Earls, who are both Bend natives.
Previously in her career, Swanson was a registered client service associate at Merrill Lynch, and a paraplanner and financial advisor at Ameriprise. She earned a bachelor’s degree in English with a minor in political science from UCLA in 2013.
She said, “I first gained experience in the investment services field right out of college working as a receptionist and was intrigued by the idea of helping people achieve financial independence and accomplish their goals.”
Earls has worked closely with clients in various customer service and hospitality industries throughout her career and prioritizes “communication, honesty, and attention to detail” for a positive working relationship, adding, “My desire is to ensure a high quality and trusting relationship with each client from day one.”
Malakoff said, “Having operated remotely for a while, we recently set up shop on an excellent location off Colorado Avenue in Bend in a building I purchased, close to the Box Factory development. Both Awbrey and Jessica grew up in Bend and are fantastic additions to the team, and we have the room to grow and will be looking to expand as things move forward and bring on additional professionals.”
During initial client meetings, he says it is important to not “put the cart before the horse” regarding aspirations and ascertaining what objectives are looking to be achieved,
A well-established discovery process for prospective clients that Malakoff developed more than 19 years ago begins by learning about the person and gathering relevant information about the current financial situation, including balance sheet and income.
He added, “While assembling financial documents is important, our success in delivering financial strategies stems from digging deeper and arriving at an informed understanding of your financial objectives — whether that be helping children with college, trying to retire, or having an interest in investing in real estate etc., all while balancing risk tolerance — which is the intangible part of financial planning that comes from a quality conversation and years of experience.
“You have to understand all those factors before making recommendations and developing a strategy but there is no one way we work with our clients, because no single client’s needs are exactly the same.
“Also, in visiting our office we have aimed to create an inviting environment, and rather than a formal feel it is more like a comfortable living room to facilitate good conversations and relationships.”
With a background in institutional financing and as a corporate banker on Wall Street before 9/11, Malakoff said he wanted to switch gears and help retail clients looking for a more “approachable” direction.
Though using communication tools like Zoom effectively, he still makes a point of meeting physically with clients on a regular face-to-face basis, adding “That matters to me — at the end of the day it is really a people business.
“Part of the vision of Bend Wealth Advisors is to deliver something different through a multi-faceted approach, including facilitating a thoughtful conversation about your family’s wealth, values, and future in terms of areas such as estate planning.
“We encourage people who want help with smart financial decisions and show how there are different resources to achieve various goals.
“There really is no substitute for experience and while being a board-certified Financial Planner as an advisor doesn’t necessarily make you an expert, it is the gold standard and certainly gives a broad knowledge base on which to build upon and indicates level of seriousness about what you do for a living.
“Our approach is that we know you have choices when working with us and offer a free initial consult to explore whether we can help achieve your financial goals, especially when clients realize they need assistance with managing their portfolios, making smart, tax-efficient financial decisions, and being methodical year-after-year in taking the necessary steps to grow their wealth.”
As a staunch community supporter, Malakoff has previously been a board member of the Princeton Elks Lodge, where he chaired their special children’s committee, and took the helm for a stint as president of the Princeton Elks Charitable Trust.
He said Bend Wealth Advisors is dedicated to improving the community by being involved with several charitable organizations and since 2019 he has served on the board of Friends of the Children Central Oregon, a 501(c)(3) nonprofit that provides professional K-12 mentorship to at-risk youth in order to break the cycle of generational poverty, currently serving as the board chair.
Friends of the Children is the only national mentoring program in the country with paid, professional mentors (called Friends) who walk alongside youth for 12+ years — no matter what.
He said it was “exciting times” for the program after it recently received a record-sized donation for major expansion in the form of $1,400,000 contribution from billionaire philanthropist Mackenzie Scott as part of a $44,000,000 gift to the Oregon-Based National Organization.
He added, “The timing is wonderful as we are starting on the five-year strategic plan, and it is a lot more fun with funding in place!
“This chapter started just before we moved here and it appealed to me as a mentorship program that produces fantastic results and massive outcomes, starting with kids in kindergarten.
“The Friends of the Children mission is something that matters profoundly to me. The unique model of purposeful, long-term commitment to disadvantaged youth produces tangible long-term benefits to society, such as lower incarceration rates, increased high-school graduation rates and successful transitions to adulthood, as quantified by a 2007 Harvard Business School study.
“Friends’ methodical, long-term commitment precisely aligns with my values, and I love the idea of supporting the very kids who, without this long-term program, are least likely to escape the gravitational pull of poverty.
“While one of Bend Wealth Advisors’ goals is to become the largest corporate contributor of Friends of the Children Central Oregon by 2025, I wanted our involvement to extend beyond financial support. That’s why I joined the board, and — aside from recently being named board chair — serve on the executive and finance committees.
“I actively advocate for Friends of the Children Central Oregon and am committed to raising awareness of its mission and providing intelligent guidance to the organization.”
About Bend Wealth Advisors:
Bend Wealth Advisors clients represent a wide range of ages and occupations, each unique in their goals, needs and financial situations. Realizing that such distinct lives and circumstances require tailored strategies to precisely fit each, Bend Wealth Advisors offers personalized guidance, applying knowledge and insight to the specific issues and needs of each individual client in a manner aligned accordingly.
541-306-4324 • 523 NW Colorado Ave., Suite 100, Bend, OR 97703
About Raymond James:
Since its founding in 1962, Raymond James has branched out to become one of the largest financial services firms in the United States. Its business units serve a variety of clients, from individuals and small business owners to municipalities and major corporations. Its stock is traded on the New York Stock Exchange (RJF) and through three broker/dealer subsidiaries, advisors currently support more than 2.8 million client accounts from offices across the US, Canada and overseas.
raymondjames.com/bendwealthadvisors
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Bend Wealth Advisors is not a registered broker/dealer and is independent of Raymond James Financial Services.
