Welcome to another episode of Angels, Exits and Acquisitions! In this episode, host by Jeff Barnes where we sat down with Scott Langham and Patrick Lynch from Whitestone Wealth Management to discuss their unique approach to wealth management, which goes beyond conventional methods. They share their insights on alternative investments, risk management, and the importance of finding the right financial advisors. This episode is packed with actionable advice for anyone looking to grow their wealth and achieve financial freedom.
Key takeaways:
Modern Portfolio Theory Limitations: Patrick Lynch discusses the failures of traditional portfolio theory during market downturns. They now favor an endowment style portfolio with a focus on non-correlation.
Top Money Managers: Scott and Patrick focus on identifying top-tier fund managers (the top 5%) with repeatable risk management processes, not just relative performance. They analyze performance during various periods of market downturn.
Importance of Alternative Investments: Scott Langham emphasizes real estate and private equity as critical alternatives to traditional stocks, bonds, and cash. Public markets are shrinking, making private sector opportunities more important. They use the client's cash flow to determine risk and asset timelines. They do not focus on individual stocks.
About the Guests:
Scott Langham: Scott is the Vice President of Investments at Whitestone Wealth Management. He has a background in finance from Texas A&M University and worked at Merrill Lynch and Morgan Stanley before co-founding Whitestone in 2005. Scott developed the Phase Plan to help clients with retirement planning, and he also created a unique method to evaluate fund managers for their risk management. He has expertise in 1031 real estate exchanges.
Patrick Lynch: Patrick has been in the wealth management business since the 1980s, having been trained in modern portfolio theory. He is a partner at Whitestone Wealth Management, where they focus on a process-driven approach to financial planning and seek out the best money managers. Patrick emphasizes the importance of understanding a client's risk tolerance and ensuring clear communication.
Links Shared by the Guests:
Whitestone Wealth Management Website: https://whitestonewm.com/
Contact Whitestone: 210-341-1515
Ready to take control of your financial future? Visit the AIN website at https://angelinvestorsnetwork.com/ to learn more about raising capital and building wealth. Connect with Jeff Barnes on LinkedIn at https://www.linkedin.com/in/jeffpbarnes/.
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