Annual Letter from the Chairman – 2017
May 2, 2017
May 2, 2017
To our Clients, Partners and Friends-
I want to wish you a “Happy New Year” from everyone at the Quadrant family of companies!
It would not surprise me if I created a little confusion for you with that statement. First of all, you may wonder whether you are a Client, a Partner, or a Friend! I am happy to say that in our minds, the three are not mutually exclusive, and in fact, frequently overlap. Second, no…I am not just getting around to finally mailing a letter that I wrote four months ago…
Today represents the 3rd Anniversary of the founding of Quadrant Private Wealth! (Happy New Year!) If that surprises you, well time does fly. It surprises us, too! On the other hand, when we look back at all that has been accomplished, sometimes it is hard to believe that we have been able to pack it all in a mere three years. Allow me to summarize: it has been a learning experience. The old saying “you don’t know what you don’t know” clearly has been validated. Being an investment advisor does not equate with knowing how to run a business. We have learned so much, and will continue to do so. One of the best definitions of experience that I have come across is from Ambrose Bierce:
experience: noun, ex-pe-ri-ence, /ik-‘sper-e-en(t)s\: that occasion where the final exam comes first, and the lesson follows.
Since this is a “New Year” letter, we would like to share with you what has transpired over the last year, as well as some really exciting things to which we are looking forward in the coming year.
Let’s begin by looking back. Our firm has had a great year. Our assets under management have grown considerably thanks to you. We will never take for granted the confidence that you have placed in us. Our goal is to continually earn that confidence, and not just to maintain it, but to improve upon our deliverables.
In order to be able to do so, we need quality personnel. This year we added two more such people.
Nicole Schoenen is an addition to Quadrant Business Advisory Services and to Quadrant Peer Executive Groups. Her design, marketing, and organizational talents far exceed her years. Unfortunately, I just discovered that until three weeks ago, she wondered who the “old, cute guy” was. Needless to say, my reaction was less than appropriate. My associates assured me she was only kidding. She really did not consider me to be “cute”.
Frank Lawler also joined us in January as Director of Business Development for our family of companies. We got to know Frank first as a client. After having a chance to work with him and get to know him, we realized how high quality of an individual he is. Although we were not necessarily looking to add more staff, when one finds a very bright and personable individual with investment banking experience in the Lehigh Valley, who’s also a Lehigh graduate, one must “draft that player.” We welcome Frank. I still am unsettled about that “old guy” commentary from Nicole.
Over the next two months, there is much “happening”. First and foremost, Quadrant Private Wealth will be vacating our wonderful home on the 11th floor of 1 West Broad Street. Our hosts, Sruly Rosenbaum and Madison Executive Center, have been very accommodating to our growth needs over the past three years. However, we are finally relocating to 2 West Market Street, our new World Headquarters. That move will occur at month end. You are all invited to our open house from 2-5 pm on Sunday, June 4th. A separate invitation will be forthcoming.
Additionally, as part of our Quadrant Cares theme “Investing in the Community”, we are proud to announce that our firm will serve as the Premiere Sponsor of Historic Bethlehem Partnership’s Annual Rooms to View House Tour and Preview Soiree that takes place that same weekend (June 2nd and 3rd). In fact, our new World Headquarters is also on the tour this year! Regrettably, only the inside of the project will be completed. Another learning experience: Murphy’s Law is alive and well. The outside of the house (painting, sidewalks, etc.) will not be completed until August. Despite that, the good folks at Historic Bethlehem Partnership thought there would be enough interest regarding the inside of the house to include it in this year’s tour.
Later in June, Quadrant Private Wealth will be the Exclusive Sponsor for the Garden of Hope, an event held annually by the Cancer Support Community of Greater Lehigh Valley. As you may know, Claire, my wife, was one of the founding members of that organization, and one of our daughters, Becky Flynn, is currently a board member. It has done so much good for so many people for more than a decade, serving 250 participants per month, supporting patients and families in their fight against cancer.
Quadrant Private Wealth will be involved with yet another major community effort that will be unveiled on June 1st. The Friends of the Bethlehem Mounted Police will hold a ribbon cutting for their “brand, spanking new, gorgeous barn” which has become the new home of Pharaoh, Asa, Gray and George, along with their outstanding police “parents”, John, Mike, Jason and Erik.
It is our belief at Quadrant, that in today’s world one cannot give enough support to our local police. Quadrant will be identified as the naming sponsor of the barn. We are quite proud of the Quadrant Private Wealth Stable Facility.
We at Quadrant are all grateful for the opportunity to be part of Bethlehem and the broader Lehigh Valley community. Our commitment is reflected in our Quadrant Cares theme: “Investing in the Community” is what we do. It is how we make a living, and it is how we give back.
A resounding “Thank You” to our Clients, Partners and Friends! We want to reinforce how much we appreciate your relationship with our firm and with our people. So much has transpired of which we are proud, but we could accomplish none of it without all of you…from Bethlehem to Chicago to California, Florida and New York, and everywhere in between. A collective “Happy New Year” to Everyone!
Herman L. Rij, CIMA®
Founding Partner, Private Wealth Advisor