Career Path: Lawyer turns financial advisor to prevent client pitfalls

By Nicole Martinez

Jay Schechter made the switch from debt adjuster to wealth advisor when he realized many of his clients could have avoided difficult financial situations if they’d just had the right advice.

As a practicing bankruptcy attorney, Schechter assisted corporations and private clients with chapter 11 workouts and asset protection. An entrepreneurial streak kept Schechter constantly engaged within the world of financial management, when the industry remained a relatively fledgling practice. After realizing that many of his clients could have avoided bankruptcy proceedings by being smarter with their money, Schechter decided to respond.

Joining SingerXenos in 1999, Schechter helped the firm grow from a staff of five financial professionals to a successful investment firm managing over $1.3 billion for a large roster of clients. Schechter remains a partner at the Coral Gables firm today.

Here, Schechter talks to Crain’s Miami about why he made the switch from lawyer to wealth advisor, and why the business remains exciting for him today…

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