Welcome to the first of many quarterly letters from Live Oak Private Wealth. Since beginning work at Live Oak Private Wealth on September 4, I have been reminded almost daily what a special place this is. There is no doubt in my mind we have put together the best team in the wealth management business. I feel truly blessed to have such an experienced and dedicated team to help make a difference in clients’ financial lives.
I’ve spent much of my time these first several months marveling at the gorgeous campus we are part of. The Live Oak culture and entrepreneurial technology vibe are very energizing. As I meet many of the young, bright folks here, I’m reminded of the power of our collective community and reassured about the move here and the brightness of our future.
I feel fortunate and thankful that the majority of our clients have joined us. I won’t kid you; it was quite a challenge to plan and execute this transition. Not to mention that Hurricane Florence hit Wilmington directly during our first week in business. Nothing like a challenge of six days without power to make it even more interesting! I joked with the team after the hurricane that about the time we get recovered and up and running, the market will go into a tailspin. Boy did it ever! Partner Andy Basinger’s wife, Ashley, said: “no one said it was going to be easy.” Never underestimate a woman’s intuition.
So, here we are. Letter one at Live Oak Private Wealth. Download the full fourth quarter 2018 letter to learn more about Live Oak Private Wealth’s portfolio activity, performance characteristics and comments from the team.