A very good writer by the name of Dan Jamieson who writes for Investment News did a piece some time ago on how small fry investors are getting ditched by brokerage firms. I have known Dan for probably a decade plus and frankly, it is awful hard to find a writer who knows how the securities business actually operates to the detriment of small (and large) investors.
Dan wrote, "Last year, Merrill Lynch & Co. Inc. and Morgan Stanley, both of New York, stopped paying brokers for any kind of business done in households with investible assets of less than $50,000 and $35,000, respectively."
The reason these firms ditch the small fry is because they are unable to make them any. They can't "turn" the assets either daily, weekly, quarterly or annually to generate enough in fees and commissions to warrant "servicing" them, whatever brokers do to service clients. Usually brokers call to sell or "switch" investment products that generate income for the broker.
At Chippewa Partners we don't have minimums. Never have, never will.
We don't discriminate between those who have and those who want to have.
Native America had it right for hundreds of years. Only after the last tree has been cut down, only after the last river has been poisoned, only after the last fish has been caught, only then, will we find that money can not be consumed. Recognize the bottom line should not be measured in dollars and cents.
At Chippewa Partners we don’t have a minimum account size because who’s a guy like Dean Parisian that grew up on the poorest county in America, the Pine Ridge Indian Reservation too good to tell someone they’re too small to get world-class investment help?
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
Parisian Family Office, Founder & CEO. Started Wall Street, '82. Drexel Burnham alum in LaJolla, CA. Founded Native American Advisors, Chippewa Partners. '95. Chippewa. Conservative. Raised on reservations. Was NYSE/FINRA arbitrator. Trading O'Neil/CANSLIM methodology at PAMELOT, TN farm, GHOST RANCH, MT, on the Yellowstone River, or CASA TULE', their winter camp in Los Cabos, Mexico. Will always be, a relentless optimist with radical gratitude.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment