True North CEO Scott Wood Joins Steve Young on Alt Goes Mainstream Podcast

True North’s CEO and Co-founder, Scott Wood, recently joined NFL Hall of Famer and HGGC Partner, Chairman, and Co-founder, Steve Young, for an insightful episode of the Alt Goes Mainstream podcast. The episode offers an in-depth look at how values-driven leadership, cultural alignment, and the strategic use of alternative investments are reshaping the landscape of wealth management.

Hosted by Michael Sidgmore, Alt Goes Mainstream is a highly respected platform that brings together leaders in finance, private equity, and alternative investments to share their perspectives on where the industry is headed. Episode 106, featuring Scott Wood and Steve Young, delves into the partnership between True North Advisors and HGGC, a private equity firm with $7 billion in assets under management, which took a minority stake in True North as part of a broader wealth management investment strategy.

A Partnership Built on Shared Values

At the heart of the conversation, Scott and Steve discuss the foundation of their firms and how shared values guided their partnership. Scott reflects on how his journey from Wall Street led him to co-found True North Advisors with Mark Gehlbach in 2000, creating a firm that was focused on eliminating conflicts of interest through a fee-only model. Over the years, True North has grown into a firm with $4.4 billion in assets under management, with a significant portion allocated to alternatives.

Steve, who famously transitioned from a stellar 15-year NFL career to building HGGC, echoed the importance of culture and values in driving business success. The two leaders share their approach to building scalable and collaborative firms that prioritize long-term client relationships, especially when integrating private equity into the wealth management space.

Key Takeaways from the Episode

Listeners of this podcast will walk away with valuable insights into how Scott and Steve have built their respective businesses and why culture, trust, and alignment are essential in any successful partnership. Some of the key topics discussed include:

The Role of Private Equity in Wealth Management: How private equity can fuel the growth and scalability of independent wealth management firms while preserving their core values.
M&A and Cultural Fit: Why defining the relationship upfront and ensuring cultural alignment are critical when merging or acquiring wealth management firms.
Alternatives in Wealth Management: Scott shares how True North’s focus on alternatives, with over $812 million allocated to this asset class, offers clients a more robust investment strategy that goes beyond traditional models.
Long-term Thinking and the Concept of “Decading”: Both Scott and Steve emphasize the importance of thinking long-term in business and life, a mindset they call “decading,” which helps guide their decision-making processes and strategic planning.

The Power of Alternatives

A central theme of the discussion is how alternative investments are becoming a vital part of wealth management for sophisticated investors. True North Advisors has long championed the use of alternatives, recognizing their value in providing diversification and reducing risk. Scott explains how True North has integrated alternatives into its client portfolios, aligning with HGGC’s private equity expertise to deliver unique opportunities that meet the evolving needs of today’s investors.

Looking Ahead

The partnership between True North Advisors and HGGC represents a forward-thinking approach to wealth management, where the combination of private equity and independent advisory services creates a powerful platform for growth. As Scott and Steve discuss, this collaboration is about much more than financial returns—it’s about building lasting relationships, fostering trust, and driving innovation in an industry that is rapidly changing.

Listen Now

To hear more about Scott Wood’s leadership journey and his conversation with Steve Young, listen to the full episode of Alt Goes Mainstream on Apple Podcasts, Spotify, or Transistor.