From Wall Street to Main Street

Why Al Maulini Set Up Shop on the Pedestrian Mile

Wealth management firms typically establish their offices in rarefied spaces far removed from the hubbub of pedestrian thoroughfares. Al Maulini’s idea is different.

Maulini has been many things in his life: dog rescuer, barbershop owner, real estate “dabbler,” and amateur sommelier, to name a few. Yet, one thing he’s always been is a wealth manager. At 62, with 40 years of experience at prestigious firms like Morgan Stanley, HSBC, and Wachovia. But it wasn’t until he opened (and eventually sold) his Well Groomed Gentleman barbershop on Miracle Mile that he saw the power of walk-in business. So why not for wealth management?

“I wanted to go independent and have my boutique practice,” Maulini says but didn’t know where. Then, while having a coffee at Panera Bread one day, he saw that the building next door was for sale. He knew that being on the Mile had generated “a lot of exposure” for his barbershop across the street, including up to 400 new walk-in customers per month, many of whom became regulars. A lightbulb blinked on.

“It’s a storefront, which is unusual [in this industry],” Maulini says of the space he ended up buying, which Panera Bread and Kettal furniture bookend. He calls it Private Wealth Management of Coral Gables (PWMCG for short). Walking past, you might have noticed the ticker tape relaying information on the financial markets, or the poster of the golden New York “Charging Bull” statue that symbolizes Wall Street. 

Here, potential clients can walk in off the street, rather than having to make an appointment and wait in a stuffy lobby. That alone makes it unique, but Maulini says it’s the service his nine-man team offers that makes it special. 

“Our client accounts range from a minimum of $250,000 to much larger accounts,” he says. “Clients at Private Wealth Management of Coral Gables get personalized financial plans and portfolio management regardless of their wealth.” A typical advisor for a smaller account “is probably just going to sell you a couple of mutual funds,” he explains. “You’re not going to have your own portfolio designed for you like the $20 million investor gets.” 

PWMCG is also aligned with Raymond James, where Maulini worked. Raymond James holds the licenses and provides full compliance and research services. “Everything that a Raymond James employee would have, we have as an independent contractor,” Maulini says. Still, because of his boutique practice, he can offer more personalized service.

Part of that means connecting with the community. “Our goal is to promote local charities that we love, and we do that through events here,” he says. “My passion is helping children, seniors, and animals” – including, of course, those ignorant of the often unforgiving world of finance. And as for bringing Wall Street to Main Street, Maulini says that if his Miracle Mile venue wins a half-dozen new clients a month it will be worth it.