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Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms.
Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms.
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CUTTING<br />
Through<br />
the<br />
Clutter<br />
While Securities and<br />
Exchange Commission<br />
Chairman, Mary Jo<br />
White is urging her fellow SEC<br />
Commissioners to decide whether<br />
a uniform fiduciary standard<br />
should be mandatory for both<br />
brokers and investment advisors,<br />
Steve Luparello, director of the<br />
SEC's Division of Trading and<br />
Markets, presented a dose of reality<br />
when speaking on the topic at<br />
FINRA’s annual conference. “Being<br />
on the agenda for 2014 and<br />
getting it done for 2014 are two<br />
completely different things," he<br />
said, according to the Wall Street<br />
Journal.<br />
David Hamra, Principal of Gordian<br />
Advisors based in Tucson,<br />
Arizona, would like to<br />
see brokers held to the same legal fiduciary<br />
standard as his independent<br />
financial planning and investment<br />
advisory firm is, but like Luparello,<br />
he is skeptical that it will happen.<br />
“We take our fiduciary obligation<br />
very seriously. Regardless of how<br />
many safeguards are in place, the<br />
real backstop is a genuine, sincere interest<br />
in making sure things are done<br />
properly,” said Hamra – explaining<br />
that his firm doesn’t take any short<br />
cuts, cut any corners, or take any liberties<br />
with their clients’ resources.<br />
“Frankly, what makes me the most<br />
uncomfortable is if a client says, ‘I<br />
understand what you’re doing and I<br />
don’t even look at my mail from the<br />
third-party custodian.’ We always<br />
take a step back and explain to that<br />
client how much we appreciate their<br />
trust, but that they need to be diligent<br />
regardless.”<br />
Gordian Advisors derives its name<br />
from the Greek legend of the Gordian<br />
Knot. It seems a cart was tied outside<br />
the temple by Gordius, in gratitude<br />
for being made ruler of the city, and<br />
all who attempted to untie it were<br />
unsuccessful. Along came Alexander<br />
the Great – and with one quick slash<br />
of his sword he sliced right through<br />
the mighty knot, which fell to pieces<br />
and was rendered powerless. Thinking<br />
outside the box earned Alexander<br />
the title of King of Asia.<br />
“Likewise, Gordian Advisors is<br />
committed to cutting through the<br />
clutter and confusion of today’s investment<br />
environment and focusing<br />
on straightforward techniques to<br />
help clients reach their goals,” said<br />
Hamra. Working primarily with individuals<br />
and small businesses in<br />
areas of investment management,<br />
retirement and estate planning, the<br />
firm also provides financial counsel<br />
for funding college, income management<br />
and navigating divorce.<br />
“We think clients are most concerned<br />
about whether their finances<br />
are helping them meet their goals.<br />
Obviously, the portfolio is the fundamental<br />
part of that,” said Hamra who<br />
explains that chasing Alpha is not a<br />
top priority. “We don’t de-emphasize<br />
the portfolio, but we make it clear<br />
that the portfolio is the byproduct of<br />
all the other financial issues in their<br />
lives – and because of that, a conservative<br />
investment approach fits very<br />
well.”<br />
*David Hamra, a CERTIFIED FINANCIAL<br />
PLANNER and a Certified Divorce Financial<br />
Analyst, has published a series of articles<br />
on investment and personal financial management.<br />
Gordian Advisors<br />
2482 E. River Road<br />
Tucson, Arizona 85718-6522<br />
Phone: 520-615-2779<br />
www.gordianadvisors.com<br />
THE SUIT MAGAZINE p.51
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