Frank Cardia, a seasoned veteran in the financial services industry, began his career as a Registered Representative in 1996. Over the years, he developed a profound expertise in equities markets, eventually shifting his focus from short-term trades to a long-term asset management approach. As a licensed Series 65 Financial Advisor, Cardia has managed to build a multimillion-dollar portfolio and has played a pivotal role in venture capital transactions totaling more than a billion dollars. His career, spanning nearly three decades, is marked by a deep understanding of stocks, bonds, options, fixed income investments, and private equity. Currently, as the co-founder and Managing Partner at Augurey Ventures, Cardia continues to maintain a strong presence in the industry, particularly focusing on high-net-worth individuals both in the United States and internationally.
What is one strategy that has helped you grow your business or advance in your career?
I would say "action". Most people have paralysis of analysis and remain stagnant much longer than necessary. I consciously strive to take action steps towards an intended outcome. I understand these steps are not always correct, so I constantly adjust along the way. Once a task is identified, and after a reasonable amount of time to analyze it and devise a plan of attack, it’s all about massive action and assessing its effectiveness. If it’s not working, I adjust and continue with massive action.
What are some of the keys to effective decision-making?
I remember reading a Tony Robbins book many years ago, which emphasized seeing things as they are—not worse, not better, but just as they are. I believe I have a good ability to not become emotional over decisions that need to be made. I make decisions incredibly logically, as bringing emotion into a business decision can be a potential recipe for disaster.
How do you build and maintain strong professional relationships with colleagues and mentors?
Honesty. It’s that simple. Throughout my career, many people have not liked what I have to say, but at the end of the day, they know I come from a place of integrity and honesty. I feel as long as you keep it honest, even though people might not initially like what they’re hearing, most will eventually find a way to respect that.
What continuing education or training initiatives are you currently involved with to stay ahead?
I am a member of several "Master Mind" groups. We regularly connect via meetups, emails, conference calls, or Zoom to discuss various business topics and the overall financial markets.
What methods or techniques do you employ to set achievable goals and track progress?
I am a bit old school when it comes to this. I still use the old SMART method. Specific—making my goal/outcome as specific as possible. Measurable—I ensure there is a way to measure progress or lack thereof. Attainable—a lot of failures come from setting unattainable goals. Be ambitious, but also realistic. Relevant—it’s about whether achieving the goal is worth the effort. Time—can you set a time limit for when this goal or outcome should be achieved?
How do you handle difficult customers, clients, or coworkers?
I pride myself on being very objective when it comes to disagreements. I believe in deeply understanding how the other side sees things. You have to truly see through the other person’s eyes to understand why they feel the way they do. Often, people react too quickly and get emotional during disagreements, saying things they later wish they hadn’t. I try my hardest to never make a statement that cannot be taken back.
What do you believe are the most crucial qualities or skills a leader should possess, and how do you embody these qualities?
Lead from the front. I never ask my partners, colleagues, or employees to do something I haven’t already done, am currently doing, or am willing to do. People are much more comfortable following the lead of someone who has done or is currently doing exactly what they are about to do.
Can you share a specific example of how you helped a colleague or coworker overcome a significant challenge or obstacle?
Rather than a single example, let me share a mindset I’ve instilled in my employees for the past 20 years, which I call "FIRST ACT". Generally, humans naturally avoid tasks that are uncomfortable or daunting. My "FIRST ACT" rule is simple: while planning your day, whatever task you have been putting off or avoiding becomes your first action the next morning. Nothing else gets done until you complete that task. By doing this, you learn to become comfortable with being uncomfortable.
How do you decide what to do yourself and what to delegate to others?
For the past decade, I have written down my agenda and goals for the next day. I start with my "First Act" goals early in the morning, then prioritize my tasks, ranking them from 1 to 5. I tackle all the #1 tasks myself right after the "First Act" goal. Tasks ranked as 4 or 5 are usually delegated, if possible. If it's something only I can do, it stays on my list but moves to the bottom. I constantly update the list, re-evaluating priorities as needed.
How do you motivate your team for outstanding results?
Our office motto is "Nobody Cares, Work Harder". We are a great group of people who hold each other accountable. During goal workshops or meetings, I ensure that everyone knows each other's goals, which prevents hiding. We all know whether we are moving closer to or farther away from our goals. Some might not be happy about being exposed, but by keeping it positive and understanding that as co-workers, we're teammates, we usually get the motivation we need from one another.
Can you discuss some of the key achievements that have defined your career?
One of the highlights of my career was managing multiple private equity funds with great success. I've been involved in venture capital transactions that amount to over a billion dollars. This experience has given me a robust understanding of the financial service industry and its various components, like stocks, bonds, and private equity. The constant aspect of my career has always been maintaining my own retail business, mostly catering to high-net-worth individuals both in the U.S. and internationally.
What differentiates your approach in the financial services industry?
I shifted my business model from short-term trading to long-term asset management. This shift was pivotal because it allowed me to focus on the bigger picture for my clients and provide them with sustainable financial growth strategies. My experience has shown that a long-term perspective can yield better results for clients and allows for more sophisticated financial planning.
How do you envision the future of financial services, and what role do you hope to play?
I believe the future of financial services will be increasingly driven by technology and data analytics. As a result, adaptability will be essential. I aim to continue leveraging technology to provide the best possible outcomes for my clients. At Augurey Ventures, we're always looking at innovative ways to integrate technology into our asset management and venture capital practices, ensuring we stay ahead of the curve.
What are some trends in the financial sector that you are particularly excited about?
The rise of fintech is something I find incredibly exciting. Technology is revolutionizing how we handle financial transactions, manage assets, and interact with clients. This digital transformation is making financial services more accessible and efficient. I am particularly interested in how blockchain technology can improve transparency and security in transactions.
How do you assess risk and opportunity in your investment strategies?
I use a methodical approach to assess both risk and opportunity. This involves thorough research and analysis, combined with a strong understanding of market dynamics. I look at both macro and microeconomic factors, and I ensure there is always a well-rounded perspective before making investment decisions. The key is to balance calculated risks with the potential for high returns.
What advice would you give to aspiring financial advisors?
Stay curious and never stop learning. The financial sector is constantly evolving, and to succeed, you must be willing to adapt and grow with it. Networking with other professionals, staying informed about industry trends, and continuing your education through courses or certifications are critical. Also, always put your clients' interests first. Building trust is essential for long-lasting relationships and success in the industry.
How do you see your role evolving in the next few years?
I plan to continue expanding the reach of Augurey Ventures while maintaining a focus on innovation and client service. As the financial landscape evolves, I see my role increasingly as a strategic advisor who helps clients navigate complexities with informed insights and innovative solutions.
What legacy do you wish to leave in the financial industry?
I hope to be remembered as someone who contributed to making financial services more transparent and accessible, while maintaining integrity and trust. I want my work to inspire others to prioritize client relationships and ethical practices in their businesses. Ultimately, I wish to leave a legacy of innovation and excellence.
In concluding the interview, Frank Cardia shared his enthusiasm for the future and his commitment to continual growth and learning. His career serves as a testament to the impact of strategic insights and robust client relationships in the financial services industry.
