Name: Christophe warren
Solidify: Lawless, Edwards & Warren Wealth Management
Site: Boca Raton, Florida
Total value of policies: $ 940 million
Forbes Rankings: The best financial security professionals in the United States
Background: Warren, 58, graduated with an accounting degree from the State of Michigan and, after becoming a CPA, began his career at Domino’s Pizza.
Growing up in Michigan, Warren has been in Florida for 35 years and has seen a constant flow of money from out-of-state arriving in the Sunshine State, especially in the past year afterward. have obtained new neighbors from California.
“People moved here, even before Covid there was a constant flow of clients, especially hedge fund veterans who have come here to set up family offices over the past decade,” he says. “It happened, Covid just exasperated him. “
Investment philosophy / strategy: Most of Warren’s clients have made money and are successful, so he considers his company’s job to be to keep them rich. He also seeks to educate clients on investing, but does not seek to take inordinate risk for an inordinate amount of returns. Rather, he chooses to have diversified and blended portfolios with a combination of passive and active investments.
Warren is a firm believer in the time value of money, learning from his grandfather who lost everything during the Great Depression and was able to rebuild himself through investments like Emerson Electric.
Competitive advantage : Warren’s team does a lot of discovery work when engaging clients, most of them former business owners with net worth over $ 20 million, to be aware of all the intricacies of their circumstances. financial as well as what motivates them and what is important to them. .
“To deliver immense value, you have to understand the customer… then we can craft the solution to help them achieve their goals and objectives,” he says.
He also sees the insurance side of the industry as a unique advantage with topics like estate planning, business continuity planning, and wills and trusts being more emotional than investment portfolios leading to relationships. more in-depth clients.
Best Advice: Russ Alan Prince, President of RA Prince & Associates and well-known family office thought leader, focuses on finding what matters most to a client.
Biggest Challenge: Allocating his time correctly continues to be a challenge for Warren. In order to combat this, he tries to delegate often and free up time to help his business become better known in the market.
Biggest misunderstanding from customers: Investors are increasingly complacent, according to Warren, noting how resilient markets have been over the past decade, even after a massive sell-off and rally in March.
“Some of these returns are equivalent to doubling your money in five years, that doesn’t come without a price and that price is going to be volatility,” he says, fearing that this chain of market resilience may lead some investors to sell at first. . distress sign.
Investment outlook: Warren is cautiously bullish on the markets, with low interest rates likely to persist despite the Federal Reserve’s plans to cut back on buying in the near future. He also anticipates an increase in government spending on the horizon as well as strong earnings which together are synonymous with optimism for stocks. His concern is that the unpredictable could arise and shock the markets.
Favorite Book / Movie: Partly to biographies, Warren recently read about Benjamin Franklin as well as Elon Musk. He is also a fan of Malcolm Gladwell and enjoyed “David and Goliath”.