Richard E. Balamucki ChFC
Richard is the founder of Cranbrook Wealth Management, LLC. He was a pioneer in comprehensive financial planning in the 1980s and in the adoption of fee-based asset management in the 1990s. Richard's client-first approach, acute attention to detail, and the comprehensive nature of his planning services often placed him at odds with the executives of these insurance companies and broker dealers as they were much more focused on a transactional approach and the manufacture and distribution of commissioned “financial products.” Accordingly, Richard made the brave decision to start his own independent firm in 2004 where he and his associates could better control client costs, eliminate many conflicts of interest, operate independently, and offer comprehensive planning services over a variety of complex disciplines.
Richard earned a Bachelor of Arts degree from Michigan State University. He currently resides in Chapel Hill, North Carolina and splits his time between there and Metro Detroit. This allows Richard to work with business owners, executives, retirees, and independently wealthy families all over the country, as he has extensive experience in asset management and complex estate and business succession planning. He is a big sports fan, tennis player, and is committed to health and fitness. He believes that the next frontier in wealth management will focus on the development of even deeper client relationships in order to help them achieve financial security along with more personal and familial goals.