$2.5 billion roll-up-like entity in San Francisco brings aboard a chairman from its big investor
Montgomery Securities veteran Craig Johnson will help corral runaway wirehouse advisor dollars as the San Francisco firm seeks to build on an exponential leap in assets this year
Elmer Rich III
“JMP’s financial stake in Sanctuary played no part in the appointment of Johnson to the chairman post. “ Sure, I believe that. What is JMP’s core business?
It’s the Golden Rule – whoever has the gold sets the rules.
Jeff Spears
Elmer you are correct. Of course JMP’s financial stake in Sanctuary had a lot to with the appointment of Craig. My poorly worded statement to Dina was that Craig was not named to try and protect JMP’s financial stake. He was named to help us grow and enhance JMP’s financial stake.
The Golden Rule is still alive and well:)
Elmer Rich III
Yes, growth is the key. Our consulting experience is that our clients are lucky to do one thing well and to help them focus on that.
Being a good investor and driving growth are probably two different skill sets.
The problem with the “Golden Rule” is when I invest my money I am better to monitor my investment but let the people dealing directly with the market do their job and support them. Since I have shown confidence in them by my investment and I believe they are going to make me money, my approach is usually to serve them and always ask them what they need.
It is best if people closest to people giving the business money set the “rules.”
That said, good research suggest growth comes not from any internal things but solely from whether a business is in a growth market or not. Growth comes from being in a growing market, of course.
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