Matthew Lipscomb
Ashford Advisors
name: Matthew Lipscomb
Stiff: Ashford Advisors
position: Atlanta, Georgia
Assets under management: $1.8 billion
Forbes Ranking: America’s Top Financial Security Expert, State’s Top Financial Security Expert
background: Matthew Lipscomb (55) moved from Milwaukee to Atlanta with his family when he was 6 years old. He recalls that there were many things his family couldn’t afford growing up, such as him and his siblings eating free lunches as his father’s business struggled. Lipscomb remembers starting babysitting and other odd jobs to earn an income. By the time he was in middle school, he was lending money to friends and acquaintances. At one point, he even lent his sibling $2,000 to buy a car. After self-funding his tuition at the University of Georgia, Lipscomb graduated with a degree in finance from YEARTK. He joined Ashford Advisors immediately after college and began building his own business by calling lawyers and going to shopping mall businesses.
Competitiveness: “I actually believe that if my clients want to invest in something, they should,” Lipscomb says. That means if an entrepreneur wants to pull money from their investment account and invest in real estate, he supports that decision, even if most experts would consider it a risky move and advise against it. “Not only do you have to have a good understanding of taxes and asset protection, but you also have to understand the entrepreneurial mindset,” Lipscomb says. He also insists on high-touch service. “I’m very sensitive about communication and response times with my clients. It’s a simple thing for me, but my clients really appreciate it.”
Investment philosophy/strategy: Many of Lipscomb’s clients prefer to buy and sell assets. “The most important thing for my entrepreneurial clients is access to and control of capital,” Lipscomb says. “So I’m not a big fan of IRAs or 401k’s because I don’t think it’s a net tax deduction for my clients,” he adds. “That doesn’t mean everyone should do it, but for my clients who we think will have higher income and net worth in the future, that strategy may not be the best because there’s no access and control.” Lipscomb uses low-cost indexed solutions on behalf of his clients, not only as a way to get solid market returns, but more importantly, as a tool for clients who expect to have large capital gains in the future. Lipscomb is a big fan of tax loss strategies that cap future capital gains. So, for example, if a client sells a business, existing losses can be offset on their tax return. “Investing my clients’ money means we’re going to do a good job, but at the same time, we’re leaving it sitting in the parking lot waiting for a client to put in when they see an opportunity.”
Best advice: “When I talk to clients, I have to explain complex situations, from taxes to trusts, in a way that a sixth-grader can understand,” Lipscomb says. “I keep my team jargon-free.”
Off the Clock: Outside of work, Lipscomb is an avid hunter, hunting everything from deer to alligators to hogs. A father of four and a recent grandfather, Lipscomb enjoys traveling with his family, often to their lakeside home, hunting grounds, or to University of Georgia football games.
Forbes
