Tres Rouquette, CEO, Tiras Wealth Management
Invest: spoke with Tres Rouquette, CEO of Tiras Wealth Management, about investor sentiment, long-term planning, technology, and the firm’s focus on building multigenerational relationships. “We are developing a multigenerational advice center that can influence people’s lives for generations,” Rouquette said.
How would you describe investor sentiment in Houston and Texas, and what concerns are clients bringing to you most often?
There is tremendous demand for our services. There are more people living longer than ever before, and they also have wealth that no generation has ever had. That wealth is going to need to last a lot longer than it has ever needed to last in our history. This is a critical moment to make sure people are getting the right guidance and advice. At Tiras Wealth Management, we have leaned into our Built to Last campaign.
Built to Last is about understanding that the needs we are addressing today are going to live far past my lifetime and the lifetimes of the people we advise. We are developing a multigenerational advice center that can influence people’s lives for generations.
How are inflation, policy uncertainty, and broader complexity affecting the way clients approach investments and long-term planning?
Navigating that complexity is critical. I cannot imagine things being more complex or moving faster than they are now with technology and the pressure it has created. There is concern and interest in how to navigate those things in a seamless way. Most of this gets down to values and priorities. It gets down to helping clients align their decision-making with their priorities and values. So many factors, whether gas prices, inflation, or other issues, are out of our control. You want to focus on the things you can control: how you think, what you say, what you do, the people you allow around you to have a voice, and who you lean on for advice and input.
How is Houston’s growth and diversification creating opportunities for investors?
The more wealth that can be preserved and built in a pragmatic, disciplined way, the more opportunity there is. Most people are going to build wealth over the long term through consistent decisions. What we are really after is how we take technology and make it a true enabler. How do we create efficiency, optimization, and opportunity? If we can do that, we can help people give time, donate intellectual capital, and donate money to different causes. Houston has tremendous opportunity because of its size and scale. The question is how to access those capabilities and resources in the marketplace and bring people together for a common cause.
Which industries or client groups are driving growth for the firm?
In Houston, anyone in the oil and gas business, or supporting the oil and gas business, is significant. We also see a lot of doctors, attorneys, business owners, and entrepreneurs who are building businesses. We see people who are going through succession planning in their own businesses and who want to see their business work through generations. Those are the types of clients finding us because they have the means to leverage advice and they want to do more.
The clients we attract are similar to the people in our business. Scott Tiras built this from client No. 1 to client No. 2 to client No. 10, and the reason he is in this business is to have an impact and help others in a meaningful way. Many clients think the same way. They believe they can have an impact and influence future generations.
How is the firm using technology and AI, and how are clients thinking about those opportunities?
We work with Ameriprise, which has invested in a suite of tools that creates an ecosystem for us to operate, optimize, and serve clients well. That allows us to spend more time with clients and focus on personalization, customization, and helping people make decisions. AI is beginning to shape the financial industry. We are focused on how it enhances decision-making and advice, not how it replaces it. When tools like WebMD came out, there was concern that they would harm the healthcare industry.
Instead, people became more interested in being healthy and accessing information. We are seeing the same thing in the financial industry. AI will provide more information, but it will not replace the advisor. It will allow personalization, efficiency, and insight, but at the center of that is a human being advising clients around context, judgment, and trust. Financial advice is about knowing your client and customizing advice to fit that person and their values. Technology can enhance the experience, but it doesn’t replace the experience.
How are client expectations shifting in wealth management?
Technology and media influence what people observe and hear. When people hear things that sound scary or exciting, they want to talk about them. Eventually, they find an advisor and want to know how it impacts them and whether they should be doing something differently. People want safety. They want to take risks that they understand and know the consequences of. One of the biggest challenges in our industry is helping people make decisions in the face of uncertainty and emotions. That is emotional competence.
When markets are going up rapidly, people ask how much more they should invest. When markets go down, they want to cut their losses. Often, that is the opposite of what should be occurring if you are thinking long term. Emotional competence and decision-making in uncertainty are more important than returns or asset allocation. It is about thinking, habits, consistency, and decision-making.
How are families preparing for the generational transfer of wealth?
It is a mixed bag. Many clients are interested in the idea but are mostly unprepared. Sometimes health issues, a terminal illness, or the death of a friend or family member reminds them that they need a succession plan and an estate plan. As long as it is not too late, you can still do something about it.
Multigenerational planning is important, and we do a lot around that. Ideally, with the client’s permission, we get to know the beneficiaries of their accounts before a transfer happens. Not all generations think the same. You can start to shape how people think about the responsibility that comes with the money they have earned or inherited and align it with their values. Many of the people we work with want growth and impact, not just growth.
How is Tiras Wealth Management attracting and retaining talent?
When you think about a multigenerational business, you need people who reflect those generations. One success we have had over the last couple of years is attracting experienced advisors. We have also brought in younger people who are motivated, learning, and gaining experience. We find people from different backgrounds. Some are interns coming out of college. Some are changing careers. Some have served and helped other people and want to transition into this type of career. Retention starts with alignment of values.
If I am working with someone, my first question is what they want for themselves. I want to help them get it. We can build a customized and deeply personal plan for their development. Work is not all of who you are; it is a sleeve of who you are as a human. If people feel heard, understood, cared for, and supported, they want to stay. Then they carry that forward and help develop others.
What are your top priorities for the firm over the next two to three years?
We are going to embrace technology. AI is going to be an amazing tool that takes advice and how we deliver it to the next level, helping more families and more people have impact. I am optimistic about our industry and about Houston. We want to continue increasing capacity within Tiras Wealth Management. We want to deliver advice in a way that feels personal and customized, helps people feel understood, and gives them confidence and clarity. We also want to create the culture and consistency to carry this through to the next generation.
We have younger people in our business, and if we can shape how they think and make sure they understand who they are and why they are here, that has a big impact. We want to continue focusing on Built to Last, leaving a legacy, and creating more impact, more growth, and more opportunity. Houston can create something really special, and I am bullish on our firm, the industry, and Houston.
