It’s about showing up for your wealth. Relationship Manager Milo Kremer was joined by Holly Ruxin, founder and CEO of Montcalm, to discuss engaging with your wealth on a deeply personal level. 

by Milo Kremer

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A core tenant of our work at Ethic is that wealth management is about not only financial performance but also developing a concrete, values-aligned relationship with your portfolio.  Relationship Manager Milo Kreme sat down with Holly Ruxin, founder and CEO of Montcalm, for an important discussion on understanding the intersection of their clients’ day-to-day lives and managing their wealth.

Some Key Takeaways:

Understanding the Full Financial Picture
It is important to know what clients own, owe, earn, and need before offering advice. This holistic understanding allows advisors to address not only the numbers but also the values and beliefs that influence clients' financial decisions.

Focusing on Long-Term Goals Over Short-Term Performance
It can be beneficial to support clients in envisioning long-term financial success by aligning investments with their life goals and managing risk effectively. This approach helps clients stay disciplined and confident as markets fluctuate.

Empowering Clients Through Financial Clarity
In order to move clients from financial uncertainty to confidence, it can be helpful to break down financial data in minutia. Helping clients understand and engage with their finances leads to informed decisions and a stronger sense of financial control and empowerment.

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Milo: Your mission is to evolve the world’s relationship with money. How do you do that with your clients?

Holly: Before offering any advice, I take time to understand the infrastructure of my clients' financial lives—what they own, owe, earn, and need. This foundational knowledge provides a clear starting point for meaningful discussions about their relationship with money.

But financial well-being isn't just about numbers—it’s also about mindset and behavior. Many people carry beliefs about money that stem from their upbringing, past experiences, or societal influences. For example, a client may believe they "can't afford" something when, in reality, they can. In these moments, I help them explore why they feel that way. Is it fear? A scarcity mindset? A past financial setback? Uncovering these beliefs allows us to reframe their thinking, making financial decisions less about fear and more about strategy and empowerment.

My approach is not just about budgets and balance sheets; it’s about aligning money with life goals. Whether a client wants to make a big purchase, plan for retirement, or simply feel more at peace with their finances, I guide them toward informed decisions that support both their present needs and future aspirations.

Ultimately, I help my clients move from a place of financial uncertainty to financial confidence—not just by organizing their finances, but by reshaping the way they think about and interact with money.

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Milo: Everyone is talking about performance these days. How do you frame that for your clients? 

Holly: When it comes to performance, I encourage my clients to shift their focus from short-term fluctuations to long-term financial success. Rather than chasing immediate returns, I help them develop a strategic plan that aligns with their long-term financial goals and desired lifestyle.

The first step in this process is understanding where my clients need to be financially to support the life they envision. For some, that number may not be significantly different from where they are today, while others may need to grow their wealth substantially. Once we establish that financial target, we can work backward to determine what kind of portfolio returns are necessary to achieve it.

With this framework in place, we can then make informed investment decisions based on a personalized asset allocation strategy. This involves assessing the balance between different asset classes—such as lower-risk bonds, equities with an expected return of around 8 percent, and potentially higher-return private investments. The key is to build a portfolio that is optimized for both growth and stability while staying aligned with the client’s risk tolerance and time horizon.

I emphasize that investing isn’t just about maximizing returns—it’s about managing risk effectively. The relationship between risk and return is fundamental, and I help my clients understand how to be compensated appropriately for the risks they take. We analyze market cycles, diversification strategies, and how different investments perform over time, ensuring that their portfolio is structured to weather volatility while still achieving long-term financial objectives.

Ultimately, performance should be measured not just by short-term market movements but also by the progress my clients make toward financial independence and security. By taking a disciplined, goal-oriented approach, I help them stay on track and make investment decisions that serve their future—not just the next quarter.

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Milo: You often talk about having clients “show up for their wealth.” What does that mean to you?

Holly: To me, showing up for your wealth means actively engaging with your financial life rather than passively following a plan without understanding it. It starts with knowing your financial infrastructure—what you own, owe, earn, and need—so you can make informed decisions about how to grow your wealth in a way that aligns with your goals and values. Many traditional advisors place clients into predesigned investment strategies, but I believe true financial success comes from customization, ensuring that your portfolio is built around your unique circumstances and aspirations. Beyond strategy, showing up also means taking responsibility for what you invest in and understanding how your money is working for you. Do you know what you’re invested in, how you’re earning returns, and what impact your money is having on the world? These questions are critical, and for many of my clients, being able to align their investments with their personal values—such as through tools like Ethic—brings a deeper sense of purpose to their financial decisions. However, engagement doesn’t mean you have to manage everything alone; even if you work with a trusted advisor, staying informed, asking questions, and ensuring your investments serve your broader life vision is key. At the end of the day, your wealth is a tool to build the life you want, and the more involved you are, the more empowered you become to make financial decisions that truly support your future.

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Milo: Holly, you’ve built some incredible client relationships. What’s a recent conversation surrounding a client’s interaction with their wealth that inspired you?

‍Holly: One of the most rewarding experiences for me, and the reason I love what I do, is when a client finishes a phone or Zoom call with me and says, "Wow, I feel so much better." More often than not, clients come to me stressed about their financial situation—whether it’s their path to retirement, cash flow, or how their investments are performing. But what’s remarkable is that, more often than not, that stress is completely unfounded when we look at the actual data. The true picture of their financial situation is often much more positive than they realize, but their emotions and misconceptions have clouded their view of their wealth. The most inspiring moments come when we take the time to unpack the math, clarify the results, and understand the root of their concerns. When we break it down, we’re able to create clarity and open up new possibilities.

There are so many examples of this from my clients—whether it’s a couple arguing over how to spend money or worrying that they don’t have enough, and I can show them that they do and help them get on the same page. Or perhaps it’s someone who thinks buying a second property is out of reach, only to discover that it’s not only possible but also achievable within their current financial means. The beauty comes from separating the emotional response to money from the cold, hard facts of what the numbers really say. This process is incredibly fulfilling for both me and the client because it creates more opportunities, more clarity, and, ultimately, a greater sense of abundance.

Ultimately, what inspires me most is watching a client walk away from a conversation with a sense of empowerment—able to make more informed decisions, feel more confident about their financial future, and see that they can truly create the life they desire. To me, that’s what wealth is for: creating possibilities and abundance in every aspect of life.

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