After more than three decades as owners of national financial advisory firm FinDec, Fred and Nancy Lee, whose firm advised so many clients preparing for retirement, are ready for their own. Effective January 2021, they finalized the sale of their business to a company owned by current President and CEO Michael E. Lee and lead FinDec executives.
The transition allows the company to continue to serve all of its clients while moving into new territory under the continued leadership of Michael E. Lee, a military veteran and business executive who has overseen years of consistent growth since becoming President and CEO in 2013.
“This ownership shift is really the next logical step in the evolution of FinDec. I’ve grown up around my mom and dad’s business and had the opportunity to return eight years ago to lead an excellent team and continue to expand the firm,” Lee said. “Our legacy remains as a business built on family values helping people move forward in financial confidence. Fred Lee and Nancy Lee will stay on our board of directors as a strong voice to bridge the past, present, and future of FinDec.”
“We’ve come a long way since we first opened our doors more than 30 years ago,” said Fred Lee. “But what has always been at the core of what we do is an effort to earn the ongoing trust of our clients. So many clients have become lifelong friends. FinDec is also an extension of our family so it’s only fitting to have our son Michael, who has continued to innovate and guide FinDec for nearly a decade, purchase our business alongside a group of trusted executives.”
With offices in Stockton, California, and Phoenix, Arizona, FinDec has more than 10,000 participants and services more than $750 million in assets under advisement (AUA).
The firm plans to expand further in 2021, hiring a local team of financial advisors for its new Phoenix office which serves the entire southern part of the U.S. from Southern California to Florida, including Las Vegas. FinDec offers clients a suite of services: From individual wealth and risk management to financial planning and insurance services. FinDec also provides both Third-Party Administrator (TPA) and Recordkeeping along with consulting services and traditional service offerings.
“As we embrace new techniques, technologies and thinking, we always keep our eye on what’s most important: Our clients and the trust they have in us,” Michael E. Lee added. “We’ll always maintain the values Fred and Nancy Lee cemented in the company. We are here to build wealth for our clients over time. And to walk them across all of life’s major moments — to retirement and beyond.”
–AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.