How taking “smart risks” guides Dan Kieffer’s philosophy working in the wealth industry

We sat down with Dan Kieffer, director of asset allocation, to learn how he shaped his career and how it led him to UMB.

How did your career path lead you to UMB?

In college I pursued a degree in operations, because efficiency makes intuitive sense to me. I figured when I graduated college, I would end up making factories more efficient. Instead, before I graduated, I got a part-time job at a bank where I answered phones in the trust department. The team quickly trained me on how to be a trust officer and my career in wealth management officially started. This work didn’t excite me as much as I hoped for my career, so I started talking to investment officers at the company. I quickly became enamored with this kind of work after having the chance to grow a book of business. From there I decided to earn a master’s in finance degree.

I started teaching college-level classes, including information systems, statistics, and personal investments, in addition to my work. This led me to a more research centered chapter in my career and opened the door to alternatives and liquid alternatives.

I really enjoy learning and solving problems so when I was ready for my next chapter, UMB offered a perfect fit. My position at UMB has given me the chance to implement complex strategies related to the intricacies of tax, high-net worth individuals, and business owners.

What do you find most rewarding about working in the wealth industry?

Money can be a difficult topic for many people. It is wildly important, personal, and misunderstood. There are few opportunities to make impactful contributions to people’s lives and being able to help people with their money is one of them. When it comes to managing wealth, people run into scary and complicated problems, and we are there to help fix them.

I call myself a part-time therapist, lawyer and accountant and a full-time advisor. The team at UMB has a depth of knowledge that can help bring calmness to the chaos that is navigating the world of wealth management.

Why did you choose this career?

I didn’t choose this career — this career chose me. I was already interested in a career that involved money from a young age. I made my first trade when I was 7 years old. Someone gave me $25, and I traded it in for a $50 savings bond. I had a Roth IRA before I even had a career. A career in wealth management seemed like a natural choice.

How do you tackle challenges?

I never say no to a challenge. If someone tells me I can’t do something, that makes me want to do it even more. I am often stubborn, which is what likely led me to run a marathon. I may not look like your typical runner, but with persistence, I achieved it.

For me, I take it one step at a time. I want to collect my data, do my research and talk with others to brainstorm ideas. There is always an answer to a challenge. There is always something we can improve and figure out together.

How has mentorship impacted you throughout your career?

I have had a steady stream of positive and patient leadership throughout my career. I have always been a very ambitious — possibly even intense — person. My ambition likely frustrated some of my mentors at times, but I often think back to a few of the most valuable lessons I learned from them:

• Experience is key. When I was younger in my career, I needed to learn to take a beat and gain more experience. I could do this through more education or by doing different tasks.
• Patience is a virtue. We’ve usually all heard this in our lives, but it really is true. Especially when you are dealing with the ebbs and flows of the stock market.

What do you hope to achieve at UMB?

I hope to have shared success at UMB. I get to work with the smartest people on common problems that are never going to be solved because the markets are always changing.

The associates at UMB have the chance to make decisions that can have an impact on someone’s life. Our jobs come with a lot of different twists and turns and opportunities. I hope we can collectively take advantage of the opportunities that come and help advise our clients through the markets.

Interested in learning more about our Private Wealth Management division? With UMB, you have a guiding partner from financial advising and wealth building strategies, to retirement and legacy preservation plans.