Johnny Sirpilla to provide expert guidance that supports the firm’s client-centric philosophy and growth

Wellspring Financial Advisors (Wellspring), a registered investment adviser and multi-family office catering to ultra-high-net-worth individuals and families, is pleased to announce the addition of Johnny Sirpilla to its advisory board. Johnny joins current board members Scott Roulston and Larry Wolf to support and enhance the mission and vision of the firm.

Johnny Sirpilla is an entrepreneur, author, and speaker. He speaks professionally to businesses, communities, and universities on the importance of managing thoughts, internal honest reflection to develop meaningful professional and personal relationships and re-framing each challenge in your life as an opportunity for self-development and growth. Addressing college students, young professionals, and emerging leaders to discover the power they must develop for their personal brand is one of his passions.

Johnny is the owner of Encourage, LLC. and the retired President and Chief Business Development Officer of Camping World and Good Sam. Johnny’s experience in business leadership began in 1992 when he became President of Sirpilla R.V. Center, Inc. and was recognized out of 3,000 dealers as the National RV Dealer of the Year for best overall run dealership in the country in 1995. In 2003, he was one of the initial acquisitions by Camping World and served in key executive leadership roles of the $4 billion revenue business for 14 years prior to his retirement.

He currently runs his family office, Encourage, LLC, which has holdings in several industries including e-commerce consolidations, fashion and interior design, spirit brands, senior housing, med-tech device development and population health management. Johnny is co-founder/board member for Society Brands (Audit Chair), board member of TecTraum, board member of publicly traded Lippert Components (LCII) where he serves on the M&A, Risk and Human Capital & Compensation Committee (Chair), board member at Braintrust Growth, board member of the Pro Football Hall of Fame (Personnel Chair) and serves as an active leadership consultant, public speaker and best-selling author of “Life is Hard but I’ll Be Ok”.

He has been an active community leader serving as Chairman of the Board for the United Way of Greater Stark County (Ohio), Chairman of the Board for Stark County Catholic Schools, Executive Committee Member & Board Member of the Aultman Health Foundation, Executive Committee Member and Board Member of the Pro Football Hall of Fame and board member of The Pregnancy Support Center. He received the Jackson Chamber of Commerce Outstanding Citizen of the Year.

Johnny graduated from Miami University with a bachelor’s degree in accounting and a special interest in psychology and received his master’s in Organizational Behavioral Management from University of Phoenix. He also received certification from the University of Pennsylvania Wharton School in Executive Presence and Influence & Persuasive Leadership Development.

Wellspring’s other advisory board members include:

Scott Roulston – Scott is an Advisory Partner for both The Pritzker Organization (TPO), the merchant bank for the interests of the Tom Pritzker family, and Brownhelm Capital, a Cleveland-based single-family office. He is also Investment Expert Trustee of the $100B State Teachers Retirement System of Ohio and a board member of Bluecoats, Inc. Formerly, Scott was CEO of Roulston & Company, Inc. (now known as Fairport Wealth) and has held management positions at MAI Capital Management (MAI) in Cleveland, and Segall Bryant & Hamill in Chicago. He has served on the boards of three public companies, several private companies, and founded the Cleveland Chapter of Private Directors Association.

Larry Wolf – Larry is CEO of Red Diamond, Ltd., a single-family office located in Rocky River, Ohio and sits on numerous boards for family-owned businesses and the family’s private foundation. Larry also serves as President of Red Diamond Management Co., the family’s Private Trust Company. He works closely with Greycourt & Co. for investment planning and is a member of their Client Advisory Council. Larry was a founding member of Forge, a national peer-to-peer networking community for single-family offices in the United States, and is a member of their Executive Committee. Larry is also a board member for Investor Diversified Realty ODCE Index Fund and serves as head of their Audit Committee. Prior to working at Red Diamond, he was a Tax Partner in the Cleveland office of Arthur Andersen & Co.

“Wellspring’s advisory board offers a breadth of industry knowledge that supports the firm’s growth and will enhance the client experience”, said Michael Novak, President and CEO at Wellspring. “We are thrilled to have Johnny join with Scott and Larry as we continue to navigate Wellspring’s future in a strategic and meaningful way.”

Wellspring Financial Advisors (Wellspring), a registered investment adviser and multi-family office catering to ultra-high-net-worth individuals and families, is pleased to announce the establishment of the Diversity in Finance Scholarship Fund, which aims to increase diverse representation in business-related professions, specifically in the wealth management industry. The scholarship program will be funded by four wealth management firms in the greater Cleveland-Akron area over the course of four years, granting a total of eight renewable scholarships to Northeast Ohio students. Participating firms include, Ancora, Cerity Partners, Sequoia Financial Group, and Wellspring Financial Advisors, with College Now Greater Cleveland serving as the administrator.

College Now, in coordination with the funding organizations, developed the eligibility guidelines for the scholarship, which include graduating from a high school in Northeast Ohio served by College Now, earning 2.5 GPA, a score of at least 18 on the ACT, or a score of at least 960 on the SAT, and pursuing a degree in business, accounting, or finance, among other requirements. College Now will administer the application process, including student evaluation and selection, and distribute the scholarship funds. Selected recipients also will participate in College Now’s impactful mentoring program, which has played a pivotal role in increasing the retention and graduation rates of its scholarship students. In addition, the four partnering firms will also work with College Now to develop a strategy to increase awareness of the opportunities available in the financial services industry.

“We recognize the importance of building a more diverse talent pool in order to encourage and leverage different perspectives to ensure the industry continues to grow and evolve to better serve our clients”, said Michael Novak, President and CEO at Wellspring. “We are thrilled to collaborate with Ancora, Cerity Partners, Sequoia, and College Now to provide both financial support and education on industry opportunities to underrepresented students seeking business degrees.”

The recruitment process for the Diversity in Finance Scholarship will begin May 2023, with selections made June 2023, and initial funding granted this upcoming Fall. The scholarship awards $2,500 annually to each student and is renewable for up to three additional years.

This week begins March Madness, which for most is the annual NCAA men’s college basketball tournament. The tournament starts with 68 teams playing in the first-round games which are cut in half again in the second round. By the end of the first weekend, the teams are narrowed down to only 16 remaining in the tournament– the “Sweet 16”. Normally there are upsets in the first two rounds which causes madness in the tournament and to many sports fans, several who have completed a bracket to guess the ultimate winner of the basketball championship. Historically for Wellspring, part of this madness is tax season and filing income tax returns and extensions for clients in March and April.

This year we are celebrating our own sweet 16– 16 years in business! It is truly amazing it has been that long since we opened our doors, and looking back to our meager start, we have been blessed in so many ways.

Since its founding in 2007, Wellspring has become a prominent multi-family office with a national presence, serving client families across twenty-five states. Over that time Wellspring has grown from four employees to twenty-two employees, seven of whom are shareholders.

To date, 100% of our new client relationships have been based on a referral from either our clients or centers of influence. We can’t thank you enough for these referrals— they are our highest compliment as it demonstrates we are truly delivering on our commitment to our clients, and that you see it as well. It also supports our goal of maintaining controlled growth and expanding strategically to best serve you.

You have our deepest appreciation for the role you have played in helping make Wellspring’s success a reality!

Core Values
We have previously shared Wellspring’s core values with you— they are paramount to who we are and how we conduct business:

Clients come first
Do what we say we will
Be the trusted advisor
Always look for the best way
A family supporting other families
Heart first, head second
Always look forward

These core values are more than just words– they serve as the guiding principles for our firm. We are committed to incorporating them into everyday practice and hire, review, retain, and replace our employees around this value system.

2022 in Review
New Team Members
In 2022, we added six team members across several departments including wealth management, investments, tax, and marketing. We believe talented individuals continue to join Wellspring because of our dedication to professional development as well as our commitment to cultivating a cohesive and inclusive culture.

Ownership
We are thrilled to share Senior Wealth Advisors, Katie Madzsar, Bill Ambrogio, and Mac McLaughlin are owners of the firm effective December 2022. Over 30% of Wellspring’s staff are now shareholders and Wellspring remains 100% employee owned. We are proud to offer equity ownership to high-performing team members and strive to promote and elevate from within.

Promotions
We have also recently promoted two individuals— Colleen Gregorich to Marketing Manager, Director and James Smerke to Wealth Specialist, Senior Associate. Colleen is responsible for the vision, strategy, and execution of Wellspring’s marketing initiatives, including brand, design, thought leadership, PR & communications, events, and social media. In his new role, James assists in creating comprehensive financial plans, including tax preparation, estate planning, and investment reporting, for high-net-worth individuals and families.

DEI Committee
Last October, Wellspring launched a DEI Committee to build a workforce that encourages flexibility and fairness to enable all employees to reach their full potential. We believe creating a diverse, equal, and inclusive culture is essential for growth and success— different perspectives lead to better ideas, solutions, and opportunities for both our employees and clients. We are also leading a partnership with College Now and several local RIAs to activate a scholarship program that serves underrepresented students pursuing a career in finance in an effort to increase diverse representation within the wealth management industry.

Advisory Board & Investment Committee
As previously communicated, Wellspring announced the formation of both its advisory board and external investment committee in August. These groups were created to provide expert guidance and perspectives that support the firm’s client-centric philosophy and growth. Scott Roulston and Larry Wolf serve on Wellspring’s advisory board and our investment committee members include Larry Babin, Chris Jones, and Jon McCloskey, all of whom have decades of industry experience.

Over the past several years we have made significant investments in our people, technology, and processes. Based on your feedback, it is evident these investments are paying off and you see the value in our proactive planning, ongoing communications, customized deliverables, and the overall level of service you receive from our team. We are committed to continuous improvement and plan to expand and add additional enhancements this year.

2023 Goals
Wellspring’s management team recently met offsite to identify the firm’s 2023 goals, some of which are as follows:

Staff development and engagement – training, education and community involvement
Ongoing build-out of Investment and Tax Departments
Processes and tracking – enhanced use of technology to increase firm efficiency and client relationships
Strategic marketing plan – first time ever for us!

We are also actively recruiting and hiring new team members, looking to add three new employees to our staff this year. We always prepare to hire in advance of need to maintain the high level of service our clients have come to expect from our team.

We have come a long way since our founding, and we owe it all to the families we proudly serve. Thank you for believing in us and for trusting in our one phone call approach. We remain committed to providing objective and personalized solutions to help simplify your life and preserve your legacy— our mission is, and has always been, to ensure you both Live Well and Sleep Well.

Yours in gratitude,

Michael Novak
President & CEO