Ex-Deutsche Bank equity analyst founds a new RIA

FWR Staff

15 June 2009

Boutique says its likely to benefit from dissatisfaction with big providers. Former Deutsche Bank and Citigroup equity analyst Brandt Sakakeeny has launched Rockingstone Advisors, a portfolio-management boutique aimed at private clients with at least $250,000 to invest.

"Occupying a niche between index and mutual funds on one side and more complex and costly hedge funds and fund-of-funds on the other, Rockingstone addresses a gap in an under-served market for portfolio management," according to Sakakeeny.

Focus, discipline and disarray

Larchmont, N.Y.-based Rockingstone uses ETFs to provide its clients with exposure to multiple asset classes more cost effectively and efficiently than would have been possible just a few years ago, and it subjects portfolios to a "rigorous fundamental analysis and disciplined investment process," the firm says in a press release.

The new firm expects to gain additional traction from what it views as widespread client dissatisfaction with wealth-management offerings provided by some of the major money-center banks and brokerage firms.

"According to market statistics, 63% of wealthy Americans have lost faith in financial institutions," says Sakakeeny. " is not surprising , in a recent survey, the Economist newspaper notes that 'a lot of private banking has not been about advice, but pushing product.'"

Rockingstone might add that its mass-affluent focus puts it up against big-firm call centers, a source of frustration for some clients that pre-dates Wall Street's recent woes.

"We believe the present environment is a particularly propitious time to launch our wealth-management practice," says Sakakeeny. "Financial markets have stabilized but we do not believe the global imbalances driving economic dislocation have subsided, if anything they may be deteriorating." -FWR

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