FYI: By the time Barry Ritholtz and his partners launched Ritholtz Wealth Management (RWM) in the autumn of 2013, low-cost ETFs had become a nearly optimal way for advisors to bring low-cost investing to their clients. So it is that ETFs are a big and growing piece of business at RWM, a registered investment advisor that now manages about $1 billion.
Ritholtz, a lawyer by training and an ex-trader with an abiding curiosity about the world, has been on a circuitous journey to get where he is today. For example, as a trader who loved the rush, he couldn't deny that the whole endeavor was basically a crapshoot for traders and customers. And in his years on the buy side, he couldn't make peace with the fact that he owned assets but had no plans.
And so he and his partners formed RWM, a firm that puts its fiduciary duty to clients at the very center of the practice. That means ETFs are front and center in its asset allocation plans. It also means that teaching the investment world—clients and nonclients alike—that having a plan and sticking to it is the height of wisdom.
Regards,
Ted
https://advisors.vanguard.com/VGApp/iip/site/advisor/researchcommentary/article/IWE_InvComQARitholtzETFPesp&SYND=RSS&Channel=FASnews
