Kayla Tausche CNBC

y judy sincta magness
While the Securities and
Exchange Commission
(SEC) continues to evaluate
recommendations for establishing
a uniform fiduciary standard
of conduct for investment
advisers and broker-dealers alike,
the owners of Chatham Wealth
Management (CWM) are crystal
clear about their own stance on
the issue. While these SEC-registered
investment advisors are
strong advocates for the Fiduciary
stand that is part of the Dodd-
Frank Wall Street Reform and
Consumer Protection Act of 2010,
they do not agree with many other
parts of the bill.
“All advisors and all brokers
should be held to the same standard
of putting their clients’ interests
before their own,” said Daniel
Moskowitz, president and chief
investment officer of the Chatham,
New Jersey fee-based investment
advisory firm. “Brokers
who currently only have a suitability
hurdle are working hard to
water down this standard. We feel
that any weakening of the current
fiduciary standard does not serve
the public’s interest.”
Building a business model
based on relationships, service
and trust has been the foundation
of Chatham Wealth Management’s
growth. The firm’s portfolio
managers provide unbiased
advice as they involve each client
in a customized financial planning
process. “We’re not trying to
grow our business or our clients’
assets at a rate where we have to
take excessive risk to reach our
goals,” said Moskowitz.
The CWM investment team of
Moskowitz, John Raab, John Lui,
Gregg Shaw and Beth Wahlig has
deep roots in the old trust bank
model, which makes for a deep
bench of talent and experience.
Like the old trust companies, Chatham
Wealth Management builds
customized portfolios consisting
of individual securities to meet
specific client objectives. CWM
A Firm Firduciary Stance
clients have direct access to the investment
professionals who are making decisions
on their behalf. This separates
them further from the model-based,
mutual fund-heavy portfolios that most
advisors are using today. The firm also
feels strongly about the fiduciary standard
because it is built into their DNA.
That is why CWM is a “Fee Only” advisory
firm – meaning they don’t get paid
to sell any products.
With a minimum investment
of $500,000, the
firm’s typical clients are
nearing retirement or
newly retired. Moskowitz
refers to this cohort as “the
sandwich generation”
since many are concerned
with financing their children’s
college education,
as well as handling elder
care issues for aging parents.
As the average client
is now living into their
80’s and beyond, Chatham
Wealth Management has a series
of methods, tests and analyses that can
be run on client portfolios. These tools
provide investors with a clear understanding
of possible scenarios in times
of market stress, along with the likelihood
of attaining their financial goals.
Six years after the economic crisis of
2008, Moskowitz observes that clients
are finally starting to become more comfortable
with risk.
During college, Moskowitz interned
on Wall Street and was fascinated by the
dynamic and fast paced environment on
the floor of the commodities exchange.
After graduation, he worked for Bankers
Trust before joining his stepfather,
John Raab, who started one of the first
fee-only advisory firms in New Jersey at
that time. In 2000, they launched Chatham
Wealth Management
together and Raab
now serves as chairman
emeritus. The firm has
been evolving ever since.
In 2015, Chatham Wealth
Management’s clients can
look forward to an improved
user experience
when accessing the firm’s
website, including viewing
their accounts and
statements in real-time
on an interactive, customized
user-friendly online
platform.
10 Town Square Suite 100
Chatham NJ 07928
800-472-8086
www.chathamwealth.com
THE SUIT MAGAZINE p.73