Steven Abernathy discusses running a family office. Mr. Abernathy says there is an underserved need for firms dedicated to wealthier families. He reflects Warren Buffet’s advice for seeking an adviser: Choose an adviser that is both honest and competent. He also says every adviser should have owned and run a business for at least a decade. Mr. Abernathy says that since the election, he has started to reallocate assets for the families he represents, and he is watching interest rates closely. He has increased the firm’s subjection to variable rate assets, and on the equity side, the international component has been reduced.
Full interview available here.
Steven Abernathy Wants his Asset Managers to Eat Their Own Cooking
September 30, 2019