Building nest eggs
Leadership and service may not be top considerations for most people contemplating an investment management career. But they were for Eric Van Der Hyde. The 2008 Jepson School of Leadership Studies graduate sought a career where he could apply his leadership knowledge with his desire to serve others. He has done just that as co-founder and partner of Concentric Wealth Partners, a financial planning and investment management firm based in Richmond.
His Jepson School internship with Northwestern Mutual in summer 2007 introduced him to investment management. After graduating a year later, he joined the financial services firm as a wealth management advisor. In 2015, he and fellow advisor Chris Vidler founded Concentric Wealth Partners under the Northwestern Mutual umbrella, eventually separating from the larger firm in 2021.
Today, with a team of four certified financial planners and two client services associates, Concentric Wealth Partners focuses on three core areas: retirement-preparation planning, wealth-management planning for highly compensated individuals, and helping business owners grow and transfer or exit their business according to their goals.
Van Der Hyde takes great satisfaction in guiding and reassuring his clients.
“Finances can be such a source of stress for people,” he said. “We are uniquely positioned to help remove that stress by giving our clients clarity about being on track toward their goals.
“The reward in this career is twofold for me. I have the opportunity and responsibility to guide families financially through what may be some of the toughest times they’ll experience, whether it is managing a devastating health diagnosis or a career setback. Helping people who are going through something unbelievably difficult doesn’t feel like work. The relief our clients express is what keeps me doing this. At the same time, I get to celebrate our clients’ career, personal, and financial successes along the way. I find both circumstances equally rewarding.”
His leadership studies education has been an asset, the financial planner said: “I spend a lot of time thinking about how to influence and guide clients to make decisions that will help them meet their financial goals. As a partner, I also think about how to continue building our firm, which involves visioning and strategic planning, while also developing and managing our team. The Jepson School taught me how to think critically when approaching situations, problems, and opportunities.”
All that thinking has paid off. Concentric Wealth Partners grew significantly in the last five years, boasting a growth in assets under management of 160 percent. Van Der Hyde and business partner Vidler landed in the top 25 of the AdvisorHub 2024 100 Fast-Growing Advisors to Watch list. In November, InvestmentNews named Van Der Hyde to its list of Rising Stars: Best Wealth Managers and Advisors Under 40 in the USA.
The alum’s commitment to his clients and his business is mirrored in his commitment to his community. He developed a love for community service while volunteering up to 10 hours a week with area nonprofits as a Bonner Scholar at the University of Richmond. One of his most memorable post-graduation volunteer experiences was a stint as president of his Rotary Club chapter, he said. His chapter collaborated with a Barbados Rotary Club chapter and a Richmond-based nonprofit to develop and fund an Eastern Caribbean neonatal caregiver program and conference in 2019.
Reflecting its founders’ values, Concentric Wealth Partners supports several nonprofit events. “We host a client holiday food drive for Feed More and sponsor the Children’s Hospital of Richmond annual gala,” Van Der Hyde said. “Richmond is a very giving community. I love this city.”