Silver Lining Wealth Advisors’ 2021 was fruitful. The Ameriprise private wealth advisory practice in the Airpark was named top 40 Under 40 in the nation by Financial Planning Magazine.
Barron’s tapped Silver Lining Wealth Advisors as one of the top 1,200 practices in the country. The firm was listed as a top wealth manager in the country by Forbes.
“We are a younger — from a team perspective — practice that is still growing,” says Nayan Ranchhod, a private wealth adviser and managing director.
“Our industry is typically baby boomerish, in the aspect of advisers. We have our oldest adviser is 73. I’m the youngest at 39.”
As a private wealth advisory practice, Silver Lining Wealth Advisors provides financial advice that is anchored in a solid understanding of client needs and expectations and provided in one-on-one relationships. Ranchhod has 15 years of experience with Ameriprise Financial.
“It’s our job to break down financial life and put it back together and build a plan to help them reach these goals,” he says. “Sometimes I play more of a therapist than I do anything else. I see it all.”
Building the practice from scratch
Ranchhod moved to the Valley from the East Coast and, without knowing a soul in Phoenix, he built the practice from the ground up.
He was born and raised in Oklahoma and attended Boston University. Ranchhod was raised by a traditional Indian family with a mom from India and a father from Zimbabwe. His sister is a doctor and brother is a dentist. Ranchhod aspired to be a lawyer.
“I just couldn’t get excited about being a lawyer,” he says. “I took the LSAT. I was doing well in economics. I enjoy political science, so he looked at finance companies.”
Ranchhod graduated from Boston University with multiple degrees and concentrations in economics, political science, science statistics and international relations.
Ranchhod interned with a finance firm. Major banks didn’t satisfy his need to problem solve. Wanting a new challenge, he flipped a quarter and ended up in Phoenix.
“Back when I worked in Boston, I didn’t know who my clients were,” he says.
“Every client feels like a family member. Now I know everything from their dogs’ names to their kids’ names. It’s gratifying to see that impact day in and day out.”
Passionate about empowering others to pursue their financial dreams and aspirations, Ranchhod prepares for the certainty of uncertainty and customizes each family’s strategy aimed toward improving one thing — their return on life.
March 2020 was a trying month for most, he says. Monday is a tool to helping people reach their goals and, with the advent of the COVID-19 pandemic, it wasn’t possible in some cases.
Ranchhod’s business was affected as well, but he pivoted and began checking in on his clients. He knew once the pandemic and quarantine lightened, he could help clients live their dreams once again.
The staff spent 2021 preparing clients to attack 2022 by meeting in person. That was a pleasure for Ranchhod.
“It’s been really, really nice,” he says. “It changes the whole conversation. Doing the whole Zoom or Microsoft Teams thing is great, but it’s nice to see real-life people and have those discussions. We can hide behind the camera a little bit because sometimes it’s a little awkward.”
For Ranchhod and his staff, the caring doesn’t stop with wealth. Charity is important to Silver Lining Wealth Advisors. It donated more than $15,000 to a handful of Valley charities last fall. Silver Lining Wealth Advisors team members chose a nonprofit to donate to that resonates with their passions.
“One of the core values to our practice is community outreach and stewardship,” Ranchhod says.
“We believe supporting causes and charities is a way for us to have a deeper impact in the lives of so many more people than just those we serve within our practice. It helps us create a greater wake and culture by connecting us to each other.”
The donations were distributed among The Pet Knot, the Tommy Nuñez Foundation, Hospice of the Valley, St. Mary’s Food Bank, Clearwater Free Clinic, Reflex Sympathetic Dystrophy Syndrome Association, Fresh Start Women’s Foundation, Wounded Warrior Project, Phoenix Children’s Hospital and Bosom Buddies. This is the company’s second year personalizing donations to charities throughout Arizona.
“Gandhi once said, ‘Be the change you want to see in the world,’ and we believe that we are living those words when we get an opportunity to give back and support people who are doing the same,” Ranchhod says.
Silver Lining Wealth Advisors also supports clients by celebrating life-changing moments like buying a car or home. Thanks to the COVID-19 pandemic, it was difficult to do so.
“The toughest thing, for me, was seeing clients retiring or business owners transitioning out,” he says. “They couldn’t celebrate those things. It was nice to go back in the last six months or so to celebrate those moments with them — even if it is a little delayed.”
Through May 14, he is raising funds for the Leukemia & Lymphoma Society as part of the Man & Woman of the Year program.
“At the gala, they announce who raised the most funds and they get the prestigious title,” he says. “About 40% of all cancer therapies and drugs have come from the research they have done — not just leukemia and lymphoma but all cancers. That’s one of our big endeavors.”