We’re in the Hospitality Business

If you’ve spent much time in St. Louis or eaten your way around New York, you probably know the name Danny Meyer. The St. Louis native is behind some of New York’s most celebrated restaurants and, of course, Shake Shack.
I’ve been following Danny’s work for a long time. Years ago, I had him on my podcast to talk about his approach to hospitality. He was back home in St. Louis recently, and we sent several Hill team members to hear him speak. This week, I’m leading our team book club on Unreasonable Hospitality: The Field Guide by Will Guidara, who worked with Danny before going on to lead Eleven Madison Park.
Why does an investment firm spend this much time studying people in the restaurant business? Because we’re in the hospitality business, too.
Danny has long made a distinction that has stuck with me: service is what you do. Hospitality is how you make people feel.
That idea isn’t new to Hill. When we founded the firm in 2005, we wanted to build something that felt different. Personal. Thoughtful. The kind of place where people knew your name, knew your family and cared about what was happening in your life.
At our best, we’ve done that for more than 20 years. But here’s something I’ve come to appreciate: culture isn’t enough if the experience depends on which person you happen to get.
For years, much of our hospitality came naturally from great people doing what great people do. As we’ve grown, we’ve realized we need to be more intentional. The standard can’t be that some people at Hill are exceptional at making clients feel known and cared for. It has to be the Hill standard.
So we’re working to turn something that has always been part of our culture into something more consistent and durable. We’re hiring for it. We’re teaching it. We’re talking about it. We’re rewarding it. And, importantly, we’re asking clients whether we’re actually delivering it.
This summer, we conducted our first comprehensive client survey. Nearly half of our client households participated, and the overall results were excellent. But two comments mattered more to me than any score.
One client told us Hill was the first financial advisor she’d ever had where she felt “truly seen and heard.”
Another told us, “I don’t have a sense that they know me know me.”
That’s hospitality in two sentences.
The first is what we’re trying to create. The second is a reminder that we don’t create it consistently enough yet.
Of course, none of this diminishes the importance of the actual advice. A great restaurant still needs great food.
For years, we’ve been obsessive about the investment side of the equation: evidence instead of prediction, reasonable costs, tax efficiency and thoughtful portfolios built around what someone is actually trying to accomplish. We still are.
But great investments are not the end goal. They’re in service of something bigger.
We want you to trust the plan enough that you don’t have to spend your life thinking about it. We want to understand what matters to you, anticipate what you might need and be there when life changes.
That’s the experience we’re trying to make more consistent.
Great hospitality shouldn’t depend on getting the right person on the right day. It should be something you can count on from Hill.
We’re not trying to become something different as we grow.
We’re trying to become more consistently who we’ve always wanted to be.
