"He needed help, and I knew I could help him." That is the simplest way Jay Healy, the founder and President of Century Wealth Management, can describe how his business got started 20 years ago when his father-in-law, Dick Gadomski, sold his Memphis-based engineering company, PSI. Gadomski was still running the business but knew his personal finances needed more attention. Healy was passionate about his own investments, was looking to move on from his career as a record producer and bring his family back to Memphis.
"When we moved back to Memphis in the summer of 2000, I said goodbye to the music business, set up shop as an independent, registered investment advisor, and treated my father-in-law like a client from day one."
This unique opportunity allowed Healy to explore how the industry worked, develop his skillset by obtaining a CFP® certification and an MBA, and build the foundation of services that eventually led to what is now Century Wealth Management.
"I was fascinated by the concept of a family office and how some entrepreneurial families, like the Wilsons and the Hydes, implemented sophisticated strategies to grow their wealth, while also giving a significant portion back to the community. That's what I wanted to do for other families."
While Century Wealth Management initially started with one client, it quickly grew into a multi-family office serving several other high-net-worth families in the Memphis area. Today, with an accomplished team of professionals, the firm caters to a wider range of families who benefit from Century Wealth’s expertise in investing and financial planning.
"We bring our best resources to the table for every client, but we also recognize that different families have different needs."
To align its broad array of services and solutions to each family’s specific situation, the firm offers two levels of engagement based on size, complexity and preference: wealth management and family office.
The firm's wealth management approach brings clarity to an individual's financial life. It begins by identifying their unique financial goals and developing a practical plan to meet them. Century Wealth Management believes the value of advice is in execution. Its advisors are there to implement every aspect of a plan by leveraging its investment expertise, institutional partners and comprehensive resources. Ongoing oversight and guidance are then provided to help clients make informed decisions and achieve long-term success.
Some families want and need a wider range of services than typical wealth management firms provide. A family's plan may require a multigenerational perspective that encompasses advanced estate planning, philanthropy and business planning. A client may want lifestyle services such as bill pay, bookkeeping and concierge services. By taking on the role of family CFO, the firm can build a unique model around a family’s unique needs. Century Wealth Management coordinates its investment management, advanced planning strategies and comprehensive administrative support to solve complex problems, ensure meticulous implementation and free up clients’ time.
Century Wealth Management’s mission is to inspire and empower families to live their ideals. "Nothing makes us happier than helping a family achieve their goals, and we are thankful for the support of our clients, our team and the community in helping us achieve ours – growing our firm and serving clients for 20 years."