Advisor builds $780M RIA serving university employees

John Evangelista launched Evangelista & Associates in Ann Arbor and over 31 years built it into a nine-advisor registered investment advisor managing $780 million for nearly 700 families. The firm specializes in serving university employees, including janitors, nurses, professors and administrators.

Evangelista began the focus after reviewing his mother’s retirement accounts. She had worked about 20 years as a nurse at the University of Michigan and had conservative investments despite employer matching. He traced the issue to orientation processes that present options but do not provide financial guidance, leaving new employees to rely on colleagues for advice. Evangelista recalled thinking, ‘Why are you doing that?’ He attended a seminar that asked whom he wanted to serve, then proposed the niche to his principal, who dismissed it as ‘the dumbest idea ever.’

The firm’s first client was a cold call to an art professor found in a phone book. Evangelista & Associates expanded primarily through client referrals and accepts new clients by introduction only. The client base spans nearly 700 families across multiple university roles and locations.

Advisors at the firm provide investment management and employer-specific benefits guidance. Services include reviewing beneficiary designations, helping with open enrollment choices and planning for faculty sabbaticals. The firm often replaces prior advisors after identifying gaps in guidance related to university benefit plans.

The company maintains relationships with clients who move between academic institutions and has increased its presence at other universities, including Vanderbilt. Evangelista noted the practice of serving clients across institutions helps sustain referrals and growth.

Evangelista & Associates does not set a minimum asset threshold and emphasizes long-term relationships. Evangelista cited his mother’s missed retirement gains — despite a 2-for-1 match at her employer — as motivation to help younger employees start with correct investment choices.

When advising other advisors on finding a niche, Evangelista recommended choosing a client group that provides personal reward, confirming the group is large enough to support a business and learning employer benefit plans in depth. He pointed to client advocacy as the primary source of new business for his firm.