This week on Generating Alpha, I’m joined by Alan Zafran — co-founder and managing partner of IEQ Capital, the $41.7 billion wealth management firm advising some of the most successful entrepreneurs, executives, and families in the world. Over more than three decades in the business, Alan has built a reputation for pairing sophisticated investment expertise with a deeply personal, relationship-driven approach to serving clients. Known for his ability to navigate both complex markets and complex family dynamics, he’s become a trusted advisor to those managing generational wealth.

Before launching IEQ in 2019, Alan co-founded Luminous Capital, growing it into one of the largest independent advisory firms in the country before selling to First Republic. His career has also included leadership roles at Goldman Sachs and Merrill Lynch, giving him a rare vantage point on how wealth management has transformed over the years—from a largely product-driven sales model to one centered on fiduciary advice, customized strategies, and holistic planning.

In this conversation, we explore Alan’s upbringing, his unconventional path into finance, and the lessons learned from advising clients with $10 million and $1 billion alike. We dive into his philosophy on risk, the opportunities and pitfalls of investing’s democratization, and the ways families can instill both drive and grounded values in the next generation. We also discuss the principles that have guided his career, how he thinks about building trust at the highest levels, and the single piece of advice he would give to a 15-year-old looking to make their mark in the world today.