Frederick MacLean, head of state of Heritage Investment Group
Courtesy: Heritage Investment Group
Frederick MacLean, head of state of Heritage Investment Group, does not mind if you call his method boring. In truth, there’s very little that might agitate him or his method.
Heritage Investment Group, which ratedNo 1 on’s listing of the leading 100 economic consultants in the united state for 2024, is devoted to one principle, he stated: “We do not time the market for any reason.”
Even with the securities market striking record-high degrees, cooling down rising cost of living, reducing task development and the initial Federal Reserve price reduced considering that 2020– a super-sized half-point, no much less– all on the cusp of a forthcoming united state governmental political election, MacLean is unwavering in his ideology.
To browse the ups and downs, MacLean stated, the company keeps a longer time perspective.
“We are very long-term investors, we do not engage in market timing, stock picking or tactical asset allocation on any level, and we do not react to market movements or economic news,’ he explained.
In fact, these days, having ” an audio financial investment procedure is more vital than ever before,” he said.
Portfolios are built ” to allow you weather whatever the upcoming tornado is,” MacLean said. “Our use proper property allowances, rebalancing and appropriate financial investment automobiles permits our customers to persevere.”
“Markets are incredibly reliable,” according to MacLean, and ” the price cut is a fine example.”
The three major averages initially slid on news that the Fed dialed back interest rates by a half point on Sept. 18, but then climbed higher and ended the week with the Dow Jones Industrial Average and S&P 500 rising to new all-time highs on Sept 20.
The advantages of ‘quiet discipline’
Trying to time the marketplace is almost always a losing bet, other financial experts also say. That’s because it’s impossible to know when good and bad days will occur.
For example, the 10 best trading days by percentage gain for the S&P 500 over the past three decades all occurred during recessions, often in close proximity to the worst days, according to a Wells Fargo analysis published earlier this year.
“We could be accused of being boring, but our quiet discipline through the years has certainly been an integral part of our success,” MacLean said.
This approach also allows the firm to focus on the planning aspect on the business, MacLean said, including retirement and estate planning, cash flow management and tax strategies.
“From the outset, we recognized the need for objective, fiduciary advice that is critical for long-term investor success,” MacLean said.
That has also been key in their ability to reach the next generation of clients, a hurdle other financial advisory firms have struggled with achieving.
“It’s natural for clients to recommend us to their kids,” MacLean said.
The partners at Heritage Investment Group: Standing from left to right: David Teas, Tracy McCarver, S. Hardy Taylor Sitting from left to right: R. Ian McCarver, Frederick R. MacLean, Jr., Timothy Slattery
Courtesy: Heritage Investment Group
It helps that everyone at the 20-person firm is on the same page.
Heritage, which started in 1993 and has offices in Tampa, Orlando and Pompano Beach, Florida, is largely a family business “formed out of an estate planning law firm that my parents founded in 1974,” MacLean said.
MacLean works with his sister, his son and a few of his oldest friends, including Timothy Slattery, who is the chief investment officer.
Together, Heritage Investment Group has $1.7 billion under management and more than 2,050 accounts.
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