{"id":46054,"date":"2023-08-08T18:10:28","date_gmt":"2023-08-08T22:10:28","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/fly-fisherman-from-appalachia-manages-1-7-billion-for-merrill-clients-in-new-york-city\/"},"modified":"2023-08-08T18:10:30","modified_gmt":"2023-08-08T22:10:30","slug":"fly-fisherman-from-appalachia-manages-1-7-billion-for-merrill-clients-in-new-york-city","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46054","title":{"rendered":"Fly Fisherman From Appalachia Manages $1.7 Billion For Merrill Clients In New York City"},"content":{"rendered":"
\n

Name: <\/strong>Michael Shalhoup<\/p>\n

Firm: <\/strong>Merrill Lynch Wealth Management<\/p>\n

Location: <\/strong>New York, NY<\/p>\n

AUM: <\/strong>$1.7 billion<\/p>\n

Forbes Rankings: <\/strong>America\u2019s Top Next-Gen Wealth Advisors, Top Next-Gen Wealth Advisors Best-in-State, Best-in-State Wealth Advisors, Best-In-State Wealth Management Teams, America’s Top Wealth Management Teams High Net Worth<\/p>\n

Background: <\/strong>Michael Shalhoup studied economics at West Virginia University and moved to New York City after college for a career in finance. After a short stint as an advisor at Penn Mutual, he joined Merrill Lynch in 2010, where he built his practice from the ground up, initially focusing solely on working with public company executives. \u201cHaving a deep understanding and being a specialist in that space allowed for scalability,\u201d recalls Shalhoup. His current team of 12 has now expanded to serve different kinds of clients from all over the country.<\/p>\n

Competitive Edge: <\/strong>Shalhoup describes his team\u2019s wide age range\u2014with advisors in their 20s up to their 50s\u2014as a competitive edge. \u201cWe\u2019re really helping quarterback all ages of family wealth,\u201d he says. \u201cThat\u2019s been very powerful, making sure that our clients feel like the entire family is in good hands.\u201d As a largely millennial team, Shalhoup and his colleagues try to deliver an enhanced client experience by embracing tech and other financial planning tools.<\/p>\n

<\/fbs-ad><\/p>\n

Lessons Learned:<\/strong> \u201cOne of the most important things that sticks out to me as an advisor is communicating value,\u201d says Shalhoup. \u201cIt\u2019s not just about stocks, bonds and investments\u2014in reality we do so much more than that.\u201d He recalls how early in his career he was glued to markets, but eventually learned how to focus more on providing sophisticated financial advice. \u201cFor anyone starting in this industry, understanding how to communicate your value is the single most important thing to master.\u201d<\/p>\n

Investment Philosophy\/Strategy: <\/strong>Shalhoup says his team\u2019s core philosophy is to keep things simple and transparent, which often entails spending a lot of time sitting down with clients. \u201cIt\u2019s important to spend a lot of time with clients educating them on what they own, as well as how and why that ties into a successful financial plan,\u201d says Shalhoup. \u201cIt\u2019s effectively empowerment via education, which frankly gives our clients peace of mind that they have a good line of sight.\u201d The goal is for clients to be able to articulate what they have invested to a friend or even a child. <\/strong>\u201cWe tell clients not to overthink what they can\u2019t control\u2014when times get turbulent, that\u2019s a great time to stress test not just client portfolios but also retirement and financial plans.\u201d<\/p>\n

Investment Outlook: <\/strong>A balanced approach is needed when it comes to current markets, says Shalhoup. \u201cThere\u2019s so much noise in the marketplace from headline risk to different investment views\u2014the access to information can be overwhelming.\u201d While he says it\u2019s difficult to predict the actions of the Federal Reserve, the markets-based view would suggest at least one more rate hike still to come. \u201cI think history provides a nice barometer for what\u2019s to come\u2014if you look at the most recent bear market by length and decline, it was not unusual,\u201d explains Shalhoup. \u201cIt goes back to making sure we\u2019re not just being reactive.\u201d<\/p>\n

Best Advice: <\/strong>\u201cClients feel inconsistencies\u2014the last thing you want is a client going somewhere else because they were unaware of what you could deliver,\u201d says Shalhoup.<\/p>\n

Favorite Book\/Movie\/Hobby: <\/strong>Shalhoup\u2019s favorite movie is the 1992 classic A River Runs Through It<\/em>. His biggest passion, unsurprisingly, is fly fishing: \u201cIt\u2019s really the only place where my cell phone doesn\u2019t come with me,\u201d he says.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Name: Michael Shalhoup Firm: Merrill Lynch Wealth Management Location: New York, NY AUM: $1.7 billion Forbes Rankings: America\u2019s Top Next-Gen Wealth Advisors, Top Next-Gen Wealth Advisors Best-in-State, Best-in-State Wealth Advisors, Best-In-State Wealth Management Teams, America’s Top Wealth Management Teams High Net Worth Background: Michael Shalhoup studied economics at West Virginia University and moved to New […]<\/p>\n","protected":false},"author":1,"featured_media":46055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-46054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nFly Fisherman From Appalachia Manages $1.7 Billion For Merrill Clients In New York City | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Name: Michael Shalhoup Firm: Merrill Lynch Wealth 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