One of my first responsibilities was cold-calling financial advisors in Iowa, coincidentally where my wife, Amy, grew up. I made those calls in the heat of the financial crisis, compounded by catastrophic floods across the state in 2008. It was brutal trying to pitch mutual funds to terrified advisors amid a historic economic breakdown and a 100-year flood. I felt intense dread every morning. The markets didn't make me feel that way; my internal conflict did. It didn’t feel right to sell mutual funds I didn't believe in, especially under those circumstances.

I learned something important about myself early in my career: I hated selling something I didn’t believe in. What I loved were the investment aspects of the job, like educating advisors on the mechanics of fund construction and analyzing performance drivers. Later, as an investment specialist, I enjoyed competitive analysis and portfolio deep dives. I had stats and data to support my opinions. In that role, I only had to prove my fund beat their fund. Each style box represented a unique investment philosophy. I hadn't yet encountered an investment philosophy I believed in.

I happened upon Dimensional Fund Advisors by chance. Once I heard the investment philosophy and did some digging, I was hooked. At DFA, knowing the investment philosophy inside and out wasn't just encouraged; it was mandatory. During my six years there, I was immersed in multi-factor asset pricing models, market efficiency, and peer-reviewed financial economics. For the first time, I represented a philosophy I believed in down to my core, one that was rooted in science, not fiction. Read more about HPM’s investment philosophy.

I served some outstanding RIAs who set the bar for what I consider good financial advice. I saw firsthand that even the most experienced advisors often needed reassurance about their investment decisions or struggled to articulate their investment philosophy with confidence. That stuck with me.

My respect for my clients at DFA led me to join their ranks and become a financial advisor myself in 2023. I led an independent RIA in Pennsylvania, working directly with individuals and families. I managed over $41 million in client assets there.

I built HPM to meet two common wants RIAs have told me they have: affordable, flat-fee, institutional-grade portfolio execution, and investment support that empowers, not replaces.

Many of you chose this profession because you love people and the impact you can make on their lives. Maintaining systematic, cohesive investment models across hundreds of accounts, while staying on top of drift, rebalancing, and tax-loss harvesting isn’t what inspired you to become an advisor. Traditional solutions like TAMPs and OCIOs meet these needs by charging basis points, while often replacing you as the investment expert of the firm you built. 

I built HPM to solve these needs differently. I will never charge AUM fees, and I don’t want a direct relationship with your clients. I want to serve you: the RIA or RIA team that knows it’s time to get a handle on your investment engine. What you may find tedious, I find energizing. When you work with HPM, your investment engine runs on systems, not interruptions, and you stay front and center with your clients. See what HPM does.

I grew up in the Philadelphia suburbs. I’m a die-hard Philly sports fan, a proud Villanova alum, and I’ve happily adopted Amy’s Iowa Hawkeyes. I love spending time with my family, listening to music, cooking, and being outdoors, especially in the garden, by the pool, or at the beach.

I live in Collegeville, PA, with Amy and my three kids. I named HPM Investment Partners after them: Holly, Porter, and Melvin. I’m building HPM to create a legacy of authenticity, integrity, and hard work for them and for the firms I get to work with.

If you’re an independent RIA wanting a seasoned, credentialed investment professional in your corner who won’t replace your investment authority and won’t charge you basis points, then I built HPM for you.

Mike Falco, CFA, CFP®
Founder & Chief Compliance Officer
HPM Investment Partners