Chief Executive Officer
Phone (216) 378-4131
A third-generation entrepreneur, Joel Adelman was inspired at a young age to cultivate business from the ground up.
His career is reflective of an enduring focus to drive growth in ways that build wealth, community and economic gain
for those around him.
Mr. Adelman founded Advance Partners in April 1998 to bring funding, technology and advisory services to thousands of under served small businesses in the staffing market. In two decades, the company has grown to over 170 employees and lent over $15 billion in working capital, enabling small players in an ever-evolving industry to hire and process over 200,000 temporary positions each year. This work has earned Mr. Adelman the prestigious title of 2013 Ernst & Young Entrepreneur of the Year.
In 2015, Mr. Adelman sold Advance Partners to Paychex Inc. in a move that allowed the company to further expand without compromising its mission, structure and culture. After leading a successful transition as a senior executive, he recently stepped down to broaden his investments through his newest venture, AdCap Management.
In his role as the President & CEO of AdCap, Mr. Adelman will draw from his experience as an “entrepreneur serving entrepreneurs” to fund viable, established companies with operating circumstances that don’t meet the strict requirements of conventional lending.
Mr. Adelman has served as President of Young Presidents’ Organization (YPO) and has served on several boards and committees including University Hospitals Case Medical Center, Cleveland Museum of Art, Hawken School, Rainbow Babies & Children’s Hospital and Park Synagogue.
One of the most essential members of the team, Matt assists the investment team on reviewing investment legal documentation and is our inhouse counsel on all legal matters.
Matt is Vice President at Encore Funding, an alternative lending platform founded by Joel Adelman.
Previously, Matt served as General Counsel at Roundstone Insurance and at Advance Partner as Corporate Counsel. Matt earned a BA in Political Science from Miami University and a JD from the University of Dayton School of Law.
Chief Financial Officer
Mr. Turk has worked with the Adelman family for over 40 years.
He was Co-Founder and CFO of Advance Partners before its sale to Paychex in 2015. He also served as CFO for Blue Coral, Inc. in which he served to facilitate the company’s ultimate sale to Quaker State.
Michael is a CPA and a member of the Ohio Society of Certified Public Accountants. Michael is a graduate of The Cleveland State University.
His vast knowledge and experience brings great insight to our team.
Ruth supports the office in all aspects of its operation to ensure the office is operating with high quality and efficiency.
Prior to AdCap, Ruth was with Advance Partners, supporting Joel Adelman, Founder & CEO and other members of the Executive Team.
She brings over 20 years of experience in administrative and operational support with a positive approach to problem solving.