Paul Cohen: From Startup to Major League RIA Case Study

Paul Cohen’s journey

Entrepreneurship is in Paul Cohen’s DNA. He built his first firm, TWC Sports Management, in 1990 specializing in contract negotiations and endorsements for ultra-high-net-worth athletes. By the mid-‘90s, many of his clients began seeking his advice on complex wealth planning issues. Starting his own asset management firm seemed like the logical next step, so Cohen launched his next venture, Tarzana-California-based RIA Marest Capital.

Initially, Cohen opted to affiliate with another RIA that had an established relationship with a major custodian. But he became dissatisfied with the delayed response time, quality of service, and lack of control he had over his business. By the end of 2020, he decided to establish his own RIA and look for a custodian who could support his firm’s goals. “LPL offered the best combination of personal service and skill level,” reflected Cohen. “From a business perspective, a lot of what was offered was what we were looking for. Not just the basics, but advanced support for more strategic initiatives, including the possibility of acquisitions down the road.”

Be your own boss—without being on your own.

Although forming an independent RIA comes with more legal and financial responsibility, for entrepreneurs like Cohen, the freedom makes it all worthwhile. “It's so nice to be your own boss, especially in a situation like us with LPL where we’re our own boss, but don’t feel like we’re on an island by ourselves. Having a team behind you that’s equally committed to generating the business as you are, who can be that attentive and that good with the answers, is just a crucial aspect of success.”

Read more about Paul Cohen’s search for freedom and support for his RIA by downloading the full case study.