Julian Movsesian sees himself in his heir apparent, Michael Rothman.
As CEO of California-based Succession Capital Alliance, Movsesian, who was fired from his first job at McDonald’s as a 20-year-old, runs the largest, longest-running and most respected premium financing program in the life insurance industry.
Movsesian said he sees the same chip and hustle in Rothman, who joined Succession Capital Alliance in 2008 and this year is celebrating his 10th anniversary of partnering directly with Movsesian as SCA’s Executive Vice President.
“I was convinced to bring Michael on board because we have a very similar attitude and work ethic,” said Movsesian, who noted he’s grooming Rothman to become his successor. “It’s not easy to find people like him who work hard and is always passionate about what he does.”
Movsesian was born in Egypt from Armenian descent. His grandparents survived the Armenian Genocide from the Ottoman Empire during World War I and fled to Egypt, where the family would start a successful shoe business. That would thrive until Egypt transitioned from a kingdom to republic, and the country nationalized most businesses and took everything from Movsesian’s family.
Movsesian came to Southern California, where he lived with family friends, in 1977 as a 17-year-old with $340 in his pocket so he wouldn’t be drafted into the Egyptian army. He was fired from his first job at McDonald’s for taking burgers meant for the garbage bins and eating them instead.
Seeing opportunities in the life insurance world, Movsesian would start his career in 1985 by making weekly, several-hundred-mile sales trips into Central California, where others in his field wouldn’t venture. Always dressed in fitted, stylish suits, he developed deep, meaningful relationships that continue to this day. He created The Capital Maximization Strategy (CMS) in 1996, and the concept has been endorsed by 10 major insurance carriers as the largest and longest running premium finance program in the industry for affluent clients, businesses and families.
As CEO, Movsesian introduced Premium Financing Loans, which allow the policy holder to be responsible solely for the loan’s interest, instead of the full policy premium. This enables clients to save hundreds of thousands of dollars – if not more – each year, Movsesian said. Under Movsesian’s leadership, Newport Beach-based SCA has created the placement more than $52 billion of life insurance coverage, with a financed premium portfolio of more than $5.1 billion.
“The chip we’ve had on our shoulders was never given to us. It’s been earned,” said Movsesian, who has been honored by Childhelp with its Philanthropic Award and by Big Brothers Big Sisters with its Man of the Year award.
Rothman, like Movsesian, has been a visionary in the field with a chip on his shoulder. He introduced virtual meetings into his routine at SCA a decade ago to avoid unnecessary travel, and maximize the amount of client meetings he could do daily around the country. Growing up in blue collar Garden Grove, California, Rothman said he was the lone Jewish student in school and always felt “on an island,” especially when he attended a Catholic high school. That left Rothman determined to overcome obstacles, and remain open minded which allows him to get along with people from any walk of life.
He has always viewed Movsesian as someone “who’s paid his dues to get where he’s at, putting in the time and effort and work to get there.”
“I wanted to go down the same path as him to be in the position to have that type of success,” Rothman said. “This has been a long road, not an overnight thing in the least. We connected in our work ethic and in our hustle. I’m honored that Julian has given me a chance to do this.”
Rothman added: “Julian has found this way to think so much bigger and to go to top of insurance companies and lenders and find ways to create a partnership and a synergy that didn’t exist before he created it. He’s developed a structure that has become a model in our industry that didn’t exist before he pioneered it. And he’s invested in me as well.”
The keys to SCA’s long-term success are simple, yet hard to pull off, Movsesian said. The company has always stayed in the same lane of focusing on advanced life insurance planning for advisors and their high-net-worth clients. And, Movsesian said, he’s never taken anything for granted.
“You can’t forget how you started or your roots,” Movsesian said. “I could have never predicted this life, but our focus has allowed us to have done extremely well.”