Reply to Lack of HNW in the Area

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Having moved to the area from the bay area, I thought there would be some angel capital and wealth management scene in the area. But it turns out that the "rich" here basically have a house half paid down and a couple of million in savings invested in vanguard index funds. I had just recently registered a RIA and manage a couple of million in AUM (friends/family) in separate accounts with a 7 year track record of 20%+ returns but it is impossible to convince people in the area that that they should invest in anything outside of a vanguard index fund. Maybe it is just the inherent conservatism of feds and the fact that most wealth is locked up in 401k accounts.

For background, I have 5 years of experience in growth private equity, 3 years in a hedge fund, am a CFA charterholder and have been investing since I was 21. I am considering moving to Palm Beach or La Jolla. [/quote]

A 7 year record of 20% returns is pretty poor.

Perhaps you could open a restaurant?[/quote]

that is obviously annualized[/quote]

Obviously.

And still obviously pretty poor.

[/quote]

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