Home

Who Invented the 1% fee? Only “Oliver” asks "Please Sir I'd like some more!

Good afternoon - Successful inventors have always been the catalysts for tremendously impactful societal and economic changes over history. Thomas Edison is credited with inventing the light bulb, Alexander Graham Bell – the telephone, and Steve Jobs – well seemingly everything else (except the Internet which of course Al Gore created!) Clearly these inventions have an amazingly life changing impact on virtually everyone living in any developed country. An “invention” that is never discussed – but felt by most every investor working with an advisor today - is the “1% of Assets” advisory management fee. The unknown “creator” of this approach has funded an entire industry on the wallets of retail investors.

Continue Reading

"...Funny, but its still rock and roll to me"

Good afternoon -

“Everybody’s talkin’ bout the new sound funny but it’s still rock and roll to me!”

This was a line from a Billy Joel song of the same name that many of us (now in our 50’s) sang in the early 80’s. We had no idea what it meant or was referring to then, but we emphatically belted it out! I heard it over the recent weekend (as a quick aside – it was not on any playlists of the 20+ members of the Penn State Women’s club lacrosse team who descended on our house - but more on that later)!

Continue Reading

"What's your Promise to your clients?"

Good afternoon -

Recently I was pointedly asked during a Piedmont Service Platform presentation - "What is your (PWA) Promise to us should we come on board as a client - aside from the usual narrative of what & how you do your job - what is your commitment to me personally" - wow! It was made perfectly clear she was not looking for the "our mouse trap is better than their’" blather - they had been thru a few advisors and had heard the canned "but we are professionals" speech - she was looking for more - something that resonated and was - well authentic - damn she stumped me!

Continue Reading

Piedmont Wealth Advisory – Who Are You?

Piedmont Wealth Advisory – Who Are You?

 I recently relived a bit of my youth and attended a live concert by The Who at the MGM Theater here in DC. As lead singer Roger Daltry’s “whoooo are yoouuuu?” refrain rang repeatedly in my head for a few days - and I do mean rang – I took the opportunity to apply the question to Piedmont Wealth Advisory (PWA). What started out as a cloudy vision to create a uniquely 100% client oriented wealth advisory firm in the fall of 2016, PWA was officially launched on Friday March 3rd …. not quite the “Ides of March” but a Shakespeare scholar I was not!

Continue Reading

Great Wines & Portfolio management .....Process & Patience!

For centuries, great wine makers have relied on a blend of “art and science” to develop a process that consistently produces wines celebrated worldwide.  Generations of families have passed along the results of the lessons learned thru hands on experience -  successes and failures -  to those following in their footsteps.  When reading about these renown wineries, a few themes come thru in each of their histories and approaches – a commitment to Process and Patience!

Process and Patience - the latter of which most educated in the US struggle with.  We all were taught to identify the problem, develop and implement a solution – immediately.  Fastest to the finish line wins….or in my classmates case - at least gets the A!

Continue Reading