One of the first things financial advisor Lee DeLorenzo did in the aftermath of the 2008 financial crisis was hire a top salesman from a competing bank to join her RIA firm, United Asset Strategies, Inc. The move proved to be brilliant. The company’s assets under management doubled in the following two years and then grew another 30%.
“2008’s success was based on my experiences of my failures in the year 2000 – 2001 and partially 2002,” she told the audience attending the Women’s Advisor Forum in New York on Thursday. Back then, she didn’t keep her eye on bringing in new money, a mistake she didn’t want to repeat.
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