Gideon Drucker

Drucker Wealth’s clients in their 60s and older kept saying they loved working with the firm’s founder, Lance Drucker. They just wished they had met him earlier in life.

Those testimonials gave his son, Gideon Drucker, an idea about how to build on the firm’s success by targeting young people who are making a lot of money but don’t have a high net worth, so called HENRYs — high earners, not rich yet.

“It kind of happened by hearing the same story over and over again from our senior clients,” Gideon Drucker, 31, said of the strategy that resulted in wealth builder division he now runs.

The initiative gained more than 200 clients for the firm over the last two years and is on track to add more than 150 this year. They’re mostly people in their late 30s and 40s who own their own businesses or work in technology and other startups. They haul in healthy six-figure salaries that comfortably fund their lifestyle expenses. But they’re often the first in their family to generate wealth and aren’t necessarily looking ahead financially.

“A lot of my clients make a dangerous amount of money,” Drucker said. “You still need a plan of attack.”

Drucker and four other advisors help clients formulate that strategy by developing a financial plan for a flat fee. He credits the team, which also includes paraplanners, for the division’s growth.

“We are thinking about the future,” he said. “We want to change things. Everyone sees themselves as a stakeholder in what we’re building.”

—Mark Schoeff Jr.