“Thoughts On Money Management, Fees And Behavioral Pitfalls From An Advisor To Celebrities: Financial Advisors' Daily Digest” by Gil Weinreich, Seeking Alpha.
Tomas Garibaldi, as an advisor whose firm’s minimum investment is $20 million, offers a perspective of interest even to those with smaller sums to invest.
The job of a financial advisor may not differ significantly in terms of the specific tasks they do, but they can be worlds apart based on who they are, and who their clients are. This being the “Financial Advisors’ Daily Digest,” it seems worthwhile to now and then examine the work life of a flesh-and-blood financial advisor. Today I spoke with Tomas Garibaldi, vice president of Bel Air Investment Advisors in Los Angeles. The firm manages a rather astounding $7 billion for just 350 clients, with a minimum investment of $20 million. Most investors are not investing those kinds of sums, but advisors and investors can still learn from Tomas’s perspective. We talk about how his clients earned their wealth, how his firm justifies his fees, what are some pitfalls of the trade – among advisors and among clients – and what it’s like to work with celebrity clients. For those interested, the podcast is 12:45 minutes.