By Thomas K. Hoops, Co-Founder & Managing Partner, New Republic Partners, and Zelle R. Dunn, Managing Partner, New Republic Partners
For many successful families, the full benefits of a family office have long been out of reach, reserved for only the largest family offices and institutions. This inequity inspired the founding of New Republic Partners: to give successful families the same access and opportunities long enjoyed by the largest family offices and institutions. Zelle Dunn, Managing Partner, recently sat down with Co-Founder and Managing Partner Tom Hoops to discuss the firm’s origin story and why their vision is resonating with successful families.
Zelle: Tom, you and the founding team have worked with some of the most sophisticated firms in the industry. You’ve seen what works, and you’ve seen where things fall short. When you look back, was there one defining moment that made you all say, “It’s time to build something of our own”? Or was it more of a gradual recognition that successful families deserved something better?
Tom: It was definitely more of a gradual recognition. Over the years, we watched incredibly successful families, families who had built extraordinary businesses and stewarded wealth for generations, being handed the same “cookie-cutter” solutions as families with far less complexity. Meanwhile, at the very top, the largest family offices in the world were getting something entirely different: deeper access, truly bespoke portfolios, better alignment. We thought, “Why should that stop at the very top?” If we could build a firm that gave more families the same seat at the table, we could change the game.
Zelle: That’s such an important distinction, because it’s not just about having wealth; it’s about how it’s managed, and whether the approach truly reflects a family’s complexity and vision. I know that from the beginning, the founding families of New Republic Partners weren’t just figureheads, they were active shapers of this vision. Can you share how their role helped define what New Republic Partners has become?
Tom: Absolutely. The M.C. Belk Pilon and Springs-Close-Bowles families were right at the heart of it. They didn’t just bring capital to the table — they brought decades of experience managing their own family offices. They had the infrastructure, relationships, and discipline that comes from stewarding wealth across generations. They’d been through market cycles, made significant allocation decisions, and seen firsthand the benefit of having experienced professionals dedicated to the outcomes of the family. At the same time, they knew the frustration of realizing better solutions existed, ones they could access because of their networks, but that most families never saw. Their willingness to share their resources and access was really the catalyst behind our founding.
Zelle: That’s what makes our story so compelling. This wasn’t about starting a firm for the sake of starting a firm. It was about building a firm that serves families in a truly differentiated and valuable way, providing access to opportunities that had long been reserved for only a select few. Alignment has always been one of our core principles. In those early conversations, before anything was formalized, what did alignment mean to the founding partners?
Tom: Alignment wasn’t just a guiding value; it was the foundation of our firm. We agreed from day one: no special deals, no side arrangements. The founding families, our leadership team, and every client, are all fee-paying clients with the same access. That completely changes the relationship. There’s no “us” and “them” — it’s we.
Zelle: And that “we” is powerful. What also stands out is how differently the firm started compared to most others. Many begin small and try to climb up-market, but we went in a completely different direction. What led us to start at the very top?
Tom: Most firms work their way up from retail wealth management, and they bring along that structure — and often those conflicts — with them. We started at the top, with a multi-billion-dollar family office infrastructure already in place. This foundation provided not only immediate scale, but also perspective: the vantage point of serving complex families from the start. It gave us relationships with top-tier managers, co-investment partners, and the experience to use them effectively.
Zelle: I imagine that opened doors quickly. Was there an early moment when you knew you were on the right track?
Tom: There was one that stands out. Early on, we introduced a client to a private investment they never would have seen otherwise, the kind of opportunity that usually moves quietly between the largest family offices. And we didn’t just provide them with access; we invested our own capital alongside theirs. That kind of alignment is rare — and they felt it.
Zelle: That alignment also shapes how we build portfolios. Families today face a complex investment landscape. How does our team approach portfolio construction in this environment?
Tom: It always starts with listening to the family’s priorities. Every portfolio is built around their goals, whether that’s compounding capital, diversifying risk, generating income, or preserving wealth across generations. What sets us apart is our commitment to identifying what we believe are the very best managers and direct investments globally, with a clear priority on net-of-fee and after-tax performance. We combine this with institutional-quality access, offering families opportunities typically reserved for the largest investors, and build tailored portfolios that align with each family’s unique goals.
Traditional equity and fixed income remain important, but we believe they need to be complemented with strategies that broaden diversification and capture the growth of private markets.
Zelle: Beyond investments, families often face complex questions around legacy, estate planning, and intergenerational transitions. How have we expanded to help families navigate those conversations?
Tom: We started by building a differentiated institutional investment platform, but we always knew families needed more than investments to thrive across generations. So, we worked intentionally to build the capabilities and talent around the other functions that are critical to supporting families: estate planning guidance, tax strategy, family governance, philanthropic strategy, and more. In those areas, we don’t try to replace their attorneys or accountants. Instead, we sit on the same side of the table, meeting families where they are and focusing on their current needs. We connect them to the best of our network and ensure they have access to advice tailored to their individual circumstances. What matters most is that families feel supported by a trusted partner who is aligned with them, not selling them a product. This collaborative model has become a defining part of who we are.
Zelle: Let’s revisit the founding families for a moment. From where you sit, what’s one of the greatest advantages they bring to the firm now?
Tom: They represent “patient” capital, and that is an incredible asset in any market cycle. Their long-term mindset comes from having lived through many market cycles and knowing that chasing the latest trend is a losing game. They’ve shown us the value of conviction and relationships that span decades. And because they’re invested right alongside our clients, their discipline becomes our discipline. It’s embedded in our culture.
Zelle: The founding families provided such a strong foundation and yet the growth since the early days has been just as remarkable.
Tom: Yes, we launched in February 2021 with $1.3 billion from our founding families. Today, we manage over $2.6 billion for multiple families and institutions, with a team of 27 professionals. We’ve expanded our capabilities, deepened our investment resources and broadened our national reach, but we’ve done it carefully, always protecting the culture of access, alignment, and customization that defines us.
Zelle: Beyond access, what do you think has fueled that growth?
Tom: Two things. First, the depth of our team, every professional brings institutional-level experience and a high-touch, family office mindset. Second, our culture. Clients feel the difference. They know we’re not just saying we’re aligned; we’re living it every day.
Zelle: And looking ahead, what’s next for New Republic Partners?
Tom: We’ll keep growing, but with intention. Our priority will always be deepening relationships, expanding access to what we identify as exceptional opportunities, and protecting the culture that makes us different. The founding families taught us to think in decades, not quarters, and that’s the time horizon we bring to everything we do.
Thomas K. Hoops is a co-founder and managing partner of New Republic Partners, an investment management and wealth advisory firm. Hoops brings insights and experience from a 35-year career in global asset management and fresh perspectives on the new dynamics of financial markets.
Reach him at info@newrepublicpartners.com
Zelle R. Dunn is a managing partner at New Republic Partners. She brings over two decades of experience in wealth advisory and investment management. She leads the firm’s day-to-day operations and heads the firm’s North Carolina advisory team.
Reach her at info@newrepublicpartners.com
About New Republic Partners
New Republic Partners is an innovative investment management and wealth advisory firm serving affluent families, RIAs, endowments and foundations. We believe clients benefit from access to investment opportunities usually reserved for large institutional investors and the expertise and experience of a successful and seasoned investment management, wealth advisory and family office solutions team. The firm is headquartered in Charlotte, North Carolina, and serves clients across the U.S. with regional offices. More information can be found at New Republic Partners.
Disclaimer
The opinions expressed are those of New Republic Capital, LLC as of the date of publication and subject to change without notice. This is not meant to be investment, tax, or legal advice.
This interview reflects information and commentary available as of August 31, 2025. All statements and views expressed are as of that date and subject to change without notice.
New Republic Capital, LLC (which does business as New Republic Partners) is an investment adviser with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about New Republic Capital’s advisory services can be found in its Form ADV Part 2 and/or Form CRS, which is available upon request.