search.noResults

search.searching

note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
■ Business Trends: WEALTH MANAGEMENT


Wealth worries Financial advisers caution against angst over the long bull market


“There’s no rule that says that bull markets should run a certain amount of time,” says Stephan Cassaday, the founder and CEO of McLean-based Cassaday & Co.


M by Richard Foster


ore money has been lost trying to avoid bear mar- kets than has been lost


in any bear market, says Cassaday & Co. founder and CEO Stephan Cassaday. “Declines are inevitable; they


h appen,” says Cassaday, whose McLean-based wealth management firm has $2.4 billion in assets under management, “but so are recoveries, and as long as you don’t need all your money at any one time and you leave your money alone and you let it percolate over long periods of time, you build wealth.” Addressing client worries about


the health of the current bull market is a major concern facing the nation’s top wealth management profession- als, many of whom are located in Virginia and are recognized as such consistently, year after year by publi-


Photo by Stephen Gosling


cations such as Barron’s and Forbes. It should come as no surprise that just six of Virginia’s top advisers collectively manage more than $40 billion in assets if one considers the fact that four of the nation’s top 10 wealthiest counties are located in Northern Virginia. Jeffrey S. Grinspoon, managing


director and partner at Vienna- based VWG Wealth Management, says his clients are “as focused on not losing money as they are on making money.” The state’s wealth management


industry leaders counsel their clients to take a diversified approach to their holdings as a potential way to weather any financial storms, including a possible end to the current bull market, which is the second-longest since World War II (exceeded only by the stock run-up


www.VirginiaBusiness.com


in the 1990s). In addition to stocks, “you


should also own short-term bonds, you should own real estate, you should own precious metals. You should own investments in expo- nential technologies. You should own oil and gas. There are wide varieties of asset classes, not just stocks,” says Ric Edelman, founder and executive chairman of Fairfax- based Edelman Financial Services, which has $20 billion in assets under management. However, the Virginia advisers


also are not certain that the end of the bull market is necessarily in sight or that it even will be that bad. “There’s no rule that says that


bull markets should run a certain amount of time. It’s natural for people to say, ‘Well, it’s been going for such a long time, it has to end


VIRGINIA BUSINESS 83


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96
Produced with Yudu - www.yudu.com