We want to change the way people think about investing for (and in) retirement and their relationship with their financial advisers.
The financial services industry, the media and the regulators have all failed to do the right thing for you, the investors. It is noteworthy that all of the Baron Financial Group Partners came to a similar vision on how people should responsibly invest and how they should be treated by their financial advisers prior to ever meeting each other. Upon meeting, it was an instant and powerful connection which formed the Baron Financial Group team, an independent Fee-Only, Registered Investment Advisory Firm, with an approach to “High Stability Wealth Management” based upon the Nobel Prize winning science of portfolio theory.
NJ/NYC Office Partners
- Victor Cannillo was a successful business and real estate investor and was the founding partner of Baron, envisioning a firm where the financial advisers work as a team for the client directly.
- James Shagawat worked in corporate finance where he analyzed the financial statements of different companies, determining and recommending profitable solutions for the organization to make their target numbers.
Sarasota, Florida Office Partner
- Anthony Benante was a successful portfolio risk manager trading options and equities; he traded bonds and also worked in the banking world, structuring corporate banking deals. Throughout his career he was responsible for researching and interpreting the markets and negotiating the risk/return trade-off.
All the partners come with high credentials in the financial field but each partner comes from a different financial background. All adamantly assert that the only way to invest for retirement is to employ techniques empirically proven to work and documented in scientific journals over the past century. There is no doubt that these techniques work. There are many journal articles and academic books that are studied and understood by PhDs, CFAs and other educated professionals in the industry, documenting the efficacy of these techniques. Incidentally, these are not necessarily the people working at the major wire houses who make investment decisions for people. Unfortunately, there are many people who work in the finance industry, calling themselves “financial experts” who have not studied the body of investment knowledge and are not aware of the academic research. Undeniably, much of the documented research is tedious to read, mired in math, statistics and the language of economics. Our objective is to simplify and teach these techniques to people so that they can be engaged in financial decisions that affect their retirement. Our endeavor is to help them employ these techniques so that their money lasts throughout their lifetime.
The second area where the team feels the industry has failed is in not accepting responsibility for the advice they give their clients and how it impacts them personally. The team agreed that they wanted to treat their clients, family and friends with the utmost respect. They looked at the industry where Financial Advisers are not required by law to give you their best advice. Sadly it’s true. Anyone can call themselves a financial adviser and some financial advisers are currently not subject to the fiduciary standard of care. Most advisers are only required to provide you with advice that is “suitable”. Suitable means that it does not matter if the adviser benefits more from the advice, as long as it is generally okay. Imagine, is suitability really enough? How did you like the restaurant that you went to last night? Was it suitable? Or, how did your surgery go, was the doctor suitable? Many in the industry want to keep this suitability standard since they are fiduciaries to the shareholders of the company, requiring them to put the company’s interests first.
But what you want is for your adviser to be a fiduciary to you – not the shareholders! Advisers operating as fiduciaries are required by law to put your needs first. And they will do it in writing. We encourage anyone looking for a financial adviser to ask them to sign a Fiduciary Oath. We decided that Baron Financial Group must be a Fee-Only Fiduciary firm. We built our reputation on this fiduciary standard – one of trust, competency and client focus – putting our clients first.