Who Loves You?

A troublesome trend that began in earnest over five years ago after the big banks crashed is continuing: the major investment firms – those whose ads you see in the Wall Street Journal and on TV – are all trying to get the multi-millionaire clients. These “Big Box” firms are abandoning the middle class market because they are viewed as “not profitable.” It’s one of the main reasons we left a big Wall Street firm and started our own independent investment firm – we wanted to have the freedom to choose who we worked with, without having to justify it to management.

The big firms are “strongly encouraging” their employees to go after the “whales” and abandon their middle class clients. The Wall Street firms “encourage” their sales force to do this using two methods: pay their brokers more for attracting the rich, and cut the payouts to the brokers on “small accounts.” The results are predictable.

That leaves a big gap for middle-class people who are looking for investment advice and financial planning. Investors with less than $2 million in investable money are just not getting the “love,” or the advice, that they need from the big Wall Street firms.

We do care about our clients, and so we left the big investment firm because we wanted to continue to provide all of our clients with the high quality, personal service that they had come to expect from us.

We bring the strategies used by ultra-high net worth families and institutions to all of our clients, whether they’re the middle class people that the investment firms made us “justify” working with, or whether they’re they multi-million dollar client that the Big Box firm coveted. We offer advice, planning and guidance to people who are working toward a comfortable retirement. We act as the Chief Investment Officer to the busy client who just wants to have his portfolio professionally managed. We also provide assurance to the widow who is not comfortable managing the large investment portfolio that her husband had managed for so long.

In the mid-1970s actor Telly Savalas played Lt. Theo Kojak, a bald New York City detective with a fondness for lollipops whose tagline was “Who loves ya, baby?”

We do.

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