Name: Holly Kroft

Firm: Neuberger Berman

Location: New York, NY

Team Custodied Assets: $4.4 billion

Background: After graduating from University of Michigan, Kroft spent roughly a decade working in media and telecommunications investment banking, including roles at Oppenheimer and several boutique firms, where she advised clients on capital raises and mergers and acquisitions. In 2005, seeking more control over her schedule and a more relationship-driven career, she transitioned to wealth management at Neuberger Berman. She started from scratch, building her practice independently and relying on relationships formed during her banking career. Today, Kroft leads a nine-person team serving roughly 175 ultra-high-net-worth households.

Competitive Edge: Kroft credits her success to building deep, long-term relationships that extend well beyond financial planning. “Building and maintaining successful relationships is the key to all success in life, but it’s certainly the key to building a successful wealth management practice,” she says. Her clients often turn to her for guidance on issues beyond investing, including health, philanthropy and family dynamics. “A wealthy life—and a successful wealthy life—encompasses far more than just your investments,” she says. Kroft also positions herself as a central coordinator for clients’ broader financial lives. “I like to say I’m the client’s quarterback, and I want to partner with all of your advisors and build a team that’s there to support you and your family,” she says. “It’s a safe space.”

Investment Approach: Kroft emphasizes asset allocation as the foundation of portfolio construction. “I believe that the most important investment decision an individual, a family, a foundation—anyone—can make is their asset allocation, because an asset allocation is a direct reflection of their risk tolerance,” she says. Her portfolios typically follow a hub-and-spoke approach, with U.S. large-cap equities forming the core allocation. In more efficient asset classes, she often favors passive strategies with tax overlays, while active management is used in more opportunistic areas such as small-cap stocks, international equities and emerging markets. Kroft also incorporates individual bonds, opportunistic fixed income and alternatives such as private equity, private credit and commodities where appropriate. “I position my client portfolios to withstand volatility, whether it’s headline volatility like today or real fundamental volatility, so that my clients can sleep at night,” she says.

Best Advice: Kroft encourages clients to focus on long-term discipline and avoid chasing trends. “Be true to yourself. Try to stay away from trends, and invest with people that make you feel comfortable,” she says. She also reminds clients that periods of market stress can reinforce sound decision-making. “When the market’s been up significantly, everyone wants to be 100% invested in the Mag 7. Then volatility comes and the stocks that went up the most come down the most.”