Meet the wealth manager who built a $38 billion firm and gave $100 million to the MBA program that launched him

In 1981, Jeff Thomasson earned his MBA from Indiana University’s Kelley School of Business, a prestigious program known for launching successful careers. This educational foundation would serve as the cornerstone for Thomasson's future success in the wealth management industry.

In 1983, Thomasson founded Oxford Financial Advisors, a registered investment advisor (RIA) firm that would eventually become one of the largest independent RIAs in the country, managing over $38 billion in assets under advisement. At the age of just 23, Thomasson started his firm with $20,000 in debt incurred during his MBA studies, during a challenging period marked by high interest rates and unemployment.

Thomasson's journey to success was not without its obstacles. Growing up in a modest household, his father suffered a disabling accident and passed away while Thomasson was in college, leaving his mother as the sole breadwinner. However, a local oil distributor who had employed Thomasson since his teenage years helped fund his education.

Thomasson's unconventional approach to wealth management involved a fee-only model, rather than the more common commission-based structure. His strategy was to grow his client base through cold calling, conducting around 1,000 meetings per year and working six days a week. This hands-on approach, combined with his educational background, allowed him to build a successful firm from the ground up.

Last week, the Thomassons made headlines with their $100 million donation to Indiana University’s Kelley School of Business, with the intention of supporting graduate education and the Lilly Family School of Philanthropy. This represents the largest individual donation in IU history and will also go toward bolstering IU’s commitment to research in philanthropy.

Thomasson expressed his gratitude, noting that the Kelley MBA program was instrumental in his career trajectory. He hopes this generous gift will inspire others to give back and create opportunities that will benefit future generations.

The Thomassons’ donation reflects a growing trend in philanthropic donations toward higher education, which reached an all-time high of roughly $92 billion in 2025 according to a Giving USA report. However, this increase comes amid growing skepticism about the value of a college education. Only 38% of Americans express confidence in higher education, down from 57% in 2015.

Thomasson’s significant gift underscores the importance of supporting academic institutions during a time of increased scrutiny and potential transformation in the education sector.