BANKING & FINANCE OVERVIEW
Perspectives: Wealth management Jim Barnish Founder & Managing Partner – Orchid Black There is this whole concept that everyone in the tech community praises around unicorns. Everyone wants to be the next unicorn, raising hundreds of millions of dollars to get to a billion-dollar valuation, oftentimes leaving the founder(s) with very little equity in their own company. Our philosophy is that not everyone needs to be a unicorn. Growing fast is important but growing smart is critical.
Devin Farrow Regional Vice President – Mercer Advisors I think investor confidence levels are still high. There is also a caveat to that: part of why the market is moving up is because there are few alternatives. There are many people, especially retirees, who are invested a little heavier in stocks than they would have been in the ‘80s and ‘90s because of where interest rates are at. Generally, though, overall confidence is high among our client base.
Ray Ifert President & CEO – REI Wealth Management
increase $212.7 million totalling $1.25 billion compared to FY20 which amounted to $1.04 billion. The increase stems from general and enterprise fund increases, partly due to wastewater, water and solid waste capital project funding, as well as more resources directed at stormwater, parks and facilities capital projects. What is more, Tampa will be dedicating US$3.1 million in new funding relating to sustainability and resiliency goals. All told, the region is on firm footing for a strong recovery, although there is still a ways to go. “Overall, this region has started to rebound but that does not mean we are out of the woods by any stretch of the imagination. As Tampa Bay recovers, confidence starts to build. As confidence builds, fear dissipates and no longer drives decisions. As the business community in Tampa becomes more comfortable and confident, we are able to see with a bit more clarity,” said Bank OZK’s Ronecker. Insurance The Sunshine State’s property insurance market was dealt a complicated hand in the pandemic, navigating several fronts to ensure it came out on top of COVID-19’s
We strongly believe in asset allocation and keeping an eye on how much risk is in each of our portfolios. We are not big believers in hedge funds because we saw what happened in 2008. People were led to believe that they were going to get equity-based returns with bond-like risk, which could not be any further from the truth.
John McDonald Senior Managing Director – Hyde Park Capital Half of our clients are sold to private equity buyers and the other half to corporate strategic buyers. Most of our client companies are owned by aging baby boomers who are looking for investors/partners to provide shareholder liquidity and fund the future growth of their business. Most of these companies end up staying in the city but now have much more capital to grow than before.
William Sanders President – Palma Ceia Wealth Management The vaccine has been embraced more than I initially anticipated. As a result, it sounds like we may experience herd immunity quicker than anticipated and from a portfolio perspective, we need to respond to that. We are currently focused on what we are calling “post pandemic” companies, with strong sustaining growth as we strive to arrive at some level of normalcy as a country.
www.capitalanalyticsassociates.com
| 125
