CSF History: 2023 - Forward

When Bob passed away in 1996, it could quite possibly have been the end of Christopher Street Financial. Even though Bob had the foresight to leave the company to the ACLU, there had been no real plan to ensure that Christopher Street would live on. The fact that Jen Hatch, a young businesswoman came along – someone with the courage, conviction, and, some may argue, foolishness, to buy the company and carry it into a new era – is a remarkably fortunate turn of events. But lightning doesn’t strike twice. And the legacy of Christopher Street had become too precious to leave to chance. 

Jen had recognized this for years. And while forming an Ensemble Practice was in many ways about growing the reach of the company, it was also an important part of ensuring Christopher Street Financial would continue long after her – that Christopher Street would live beyond the timeline of any one person. Just as Jen had the privilege to take Bob’s vision and nurture it for almost three decades, she wanted to ensure that Christopher Street would continue to grow and thrive. She wanted to know that the clients would be served by a team who cared for them as much as she did, and continues to do.

With Mark Franczyk stepping into the role of CEO in 2023, and as many other capable team members were rising across the firm, the future leadership of Christopher Street had been established. But leadership is one thing. Ownership is another.

Since 2007, Christopher Street has had an important strategic relationship with Kestra Financial Services, which, in simplified terms, handles many of the regulatory, compliance, and technology requirements that come with being an investment advisory firm. Part of Kestra is a group called Bluespring Wealth Partners, which was created by Jen’s long-time friend and mentor, Stuart Silverman. Bluespring helps business owners like Jen to transition the financial ownership of an established Ensemble Practice firms that have strong leadership teams and promising outlooks for the future. 

Bluespring was the unique solution to a particularly challenging question. How could Jen transition financial ownership while ensuring that Christopher Street would not lose its identity? And without any near-term plans for retirement, how could Jen plan for that eventual transition while still remaining a key part of the company?

The truth is, there were many companies that wanted to acquire Christopher Street. Cold and calculating, they saw a valuable asset. But they did not appreciate the true value of the community and culture that had been formed over more than 40 years. Bluespring was different. Bluespring truly knew Jen and Christopher Street Financial. They recognized and embraced that CSF unabashedly serves the LGBTQ+ and allied community and, beyond that recognition, they supported and championed that focus. And in Kestra and Silverman, Jen had a relationship that she knew she could trust. And with that, the partnership was formalized as Bluespring became the financial owner of Christopher Street.

Leading up to the transition, and in the years that have followed, Bluespring has always made it clear that they wanted Jen, Mark, and the entire team at Christopher Street to do what they have always done: continue to serve our clients and community.  And that’s what the partnership with Bluespring has allowed CSF to do.  They no longer have to worry about the legacy of CSF beyond Jen.

Someday Jen is going to retire.  That day has not come yet.  In fact, with a capable leadership team running the company, Jen is spending more time than ever doing what she loves: spending time with clients. And that time includes introducing other Christopher Street advisors to our clients. These are experienced members of the team who will increasingly lead the relationships and become trusted partners in our clients’ lives - team members who Jen has brought together over the years with confidence, who she has trained and mentored, and who share her vision of helping clients lead their best lives. 

This is the third installment of CSF’s history, but not the last.  Every day, the next part of the story is being written.  A  story that will welcome new faces. A story that will see others go, pursuing their own paths.  But a story that will always remember how it began – with a gay man in 1981 who took the risk to create a place where everyone was welcome.

Watch this space.

If you want to read Part I: 1981 - 1996, click here.  

If you want to read Part II: 1997 - 2023,  click here.