Portland wealth management firm promotes founding team member to president
Photos / Courtesy, Great Diamond Partners, and Jim Neuger
Great Diamond Partners President and CFO Helen Andreoli and CEO Steve Tenney.
Great Diamond Partners, a wealth management firm based in Portland, has promoted CFO Helen Andreoli to president, the company announced Wednesday.
Andreoli, part of the team that launched Great Diamond Partners in March 2019, will continue as CFO as she takes on her new role as president, which entails overseeing all day-day-day operations at the firm. Great Diamond Partners is led by CEO Steve Tenney and has more than $670 million in assets under management.
"This announcement is an acknowledgement of her incredible contributions and current responsibilities," Tenney told Mainebiz in a phone interview. Andreoli "has done a tremendous job of shaping the culture at the firm, and that's been reflected in the interest from people wanting to join us."
"She's got a great mind for organizational development," he added, "and her emotional intelligence is fabulous."
A 22-year veteran of the financial services industry, Andreoli has worked at Morgan Stanley, Merrill Lynch and UBS Financial Services. She grew up in Boothbay and is a graduate of Bates College in Lewiston and the University of Maine's Master of Business Administration program. She is also the former owner of a statewide waste and recycling hauling company.
Looking ahead to her new role, Andreoli said, "The biggest thing for me is protecting and building our culture, but it's also about our commitment to conscious capitalism in an industry that doesn't always have the greatest reputation."
She was referring to a growing national movement, with a Portland chapter, that puts purpose on a par with profit and was profiled in an April 2020 Mainebiz cover story.
Conscious capitalism, Tenney said this week, "permeates everything we do from the planning we do for our clients to our investment strategy to the people we hire."
Growing team
Great Diamond partners work with Dynasty Financial Partners, a St. Petersburg, Fla.-based company that provides middle- and back-office services to 50 independent firms around the country, which Tenney says allows his firm to focus on working with clients.
Currently a team of 10 employees, Great Diamond Partners aims to make another hire soon, according to Andreoli.
"It's nice to have my past contributions recognized," she said. "I have such a great team, and the most important thing about our team is that we all share the same values. That is very unique and very special, and something I want to cultivate and protect."
She also said the firm had not had any trouble hiring in today's tight labor market, owing in part to an external consultant committed to conscious capitalism who helps write job descriptions and postings.
"For the last one we had about five applicants, but the previous one was close to 100 applicants, and I completely attribute that to our commitment to conscious capitalism values," Andreoli said, adding that the firm also has a strong benefits package.
"We work to build a culture where we really trust our people and we allow them to do their best work in the way that they best know how to do it," she said. "That's the landscape now. People are going to go where they see a values fit."
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