Note from our Founder/CIO - David R. Bockel, CFP®
When I graduated from Vanderbilt in mid-1999 with a degree in economics and decided to get into finance, I had no idea of the market roller coaster I was about to jump onto. After a brief stint working for a bank during the Y2K panic, I spent 18 years as an analyst and portfolio manager, co-managing over $500M in institutional assets, navigating clients through multiple market cycles that included the Dot-com crash, housing bubble and Great Financial Crisis. It was during those significant market setbacks that I repeatedly learned how critical it is to know what you own, especially during a crisis. It is important for the investor because knowing what you own makes it is easier to sleep at night. And it is important for an advisor acting as a fiduciary, placing client interests ahead of their own. When my career took an unexpected turn in 2018, I took the opportunity to open my own Registered Investment Advisory (RIA) firm
I strongly emphasize owning individual securities at the core of almost any investment strategy (we proactively work with clients to determine proper asset allocation). While this is a more traditional approach, it immediately provides portfolio transparency while also eliminating hidden layers of fees. I've seen plenty of financial products and innovations promising better returns over the years. Usually it's the managers of these products who get the better returns while investors pay fees and see little return. It's usually not different this time.
It disappoints me when I hear stories of people who would benefit from working with a financial advisor but are hesitant to seek one out. Common reasons include:
Don't think they have enough assets. Because many professional advisors impose minimum account sizes (else they charge even higher fees on anything below one-million dollars), many folks are dissuaded and discouraged that professional management is out of their reach.
Even moderately wealthy clients find that the quality of client service they receive is proportional to the size of their account.
They are frustrated with advisor turnover at larger firms. It is not unusual for a client to find a different advisor whom they have never met, has suddenly been assigned to their account. This may not sit well with them.
Many clients don't want to be placed in a "cookie-cutter" model portfolio. They appreciate having a thoughtfully constructed, professionally managed, portfolio(s).
They are concerned about proprietary products and potential conflicts of interest. These folks would benefit by using a truly independent, fee-only advisor. Fee-based advisors may receive sales commissions from selling other investment products.
Some people simply don't trust the markets and are scared to allocate their hard-earned investment capital. There have been 3 big market crashes in the last 20 years and some people are worried about the quality of their investment portfolios. They are confused and overwhelmed by the so many approaches, investment products and conflicting economic opinions unknown risks. These people would benefit from using a seasoned veteran with decades of investment experience.
Lack of trust. Trust is a the foundation of every client relationship. We act as a fiduciary and always place clients' interests ahead of our own.
More About Me
I am someone who sincerely enjoys "doing" for others and I'm always eager to lend a hand. There is a certain satisfaction and fulfillment that comes from helping others achieve their goals.
Old Ivy Asset Management is where my love of markets and investing meets my passion for positively impacting the lives of others.
I'm a lifelong Atlanta resident, and graduated from Vanderbilt University in 1999 with an Economics degree. I hold a FINRA Series 65 qualification as well as a CFP® designation. I've been happily married for 16 years and have two amazing daughters (13 and 10). When I'm not spending time with my family, I especially enjoy woodturning (see below), playing golf, watching sports and cooking. I enjoy practicing yoga, love many kinds of music and even play a little bit of piano and guitar.