President, Alesco Advisors LLC
Years in current role: 21
What do you enjoy most about your role?
I love spending time with Alesco’s clients. Our firm is fortunate to work with both institutional and individual clients and I enjoy my time with both. I once read that great firms are the result of having great clients. Well, if Alesco is indeed a great firm, it is because of our exceptional clients. If you are an Alesco client and are reading this, thank you!
What has been the biggest challenge you’ve dealt with over the past year?
As with most industries, the pandemic restricted our ability to meet with clients face-to-face. This was a challenge because our relationship with clients is paramount. While we see a benefit to offering the flexibility to meet remotely, we feel fortunate to be able welcome clients into the office again.
What do you see as the biggest changes in the banking and finance industry in the next 3-5 years?
I expect artificial intelligence to play a far greater role in the day-to-day management of investment portfolios, particularly with retail accounts. The technology is improving dramatically and a segment of the marketplace is ready to accept a lower level of personalized service. However, for those opting for broad-based investment counsel we expect our approach to client service to be more valued than ever.
What is the No. 1 tip you would give to people or companies about planning their finances amid uncertain times?
In order to make the best decision for the next 15 months, make the right asset allocation for the next 15 years. The capital markets are very difficult to predict in the short term, and yet generate reliable long-term returns. So establish an asset allocation based on your long-term needs and rebalance to the target allocation as the markets move up and down.
This profile is part of Rochester Business Journal's Power 30 Banking & Finance list for 2021. Information used in this profile was sourced from the honoree. View the full list at https://rbj.net/2021/12/17/rbjs-power-30-banking-finance/.