Registered Rep.: Advice for building a successful RIA?
MS: Planning doesn't guarantee success, but not planning virtually guarantees failure.
RR: Your first job?
MS: At 15, I worked for LaSalle Northwest National Bank in the Consumer Auto Loans Unit. It was my responsibility to clean out vehicles [that were repossessed] in preparation for auction. I found some interesting things.
RR: Your wife's family is Italian, yours is German. Who makes better food?
MS: Don't tell my wife, but my favorite is my grandmothers German potato salad and schnitzel.
RR: Alternative career?
MS: A motivational speaker.
RR: You're an avid soccer fan. Is “Becks” what American soccer needs? What about Posh?
MS: It's obvious from watching Beckham that he's a playmaker and a celebrity. He'll be a definite asset to American soccer. Posh is cute, but I could do without her.
RR: Most bewildering client financial situation?
MS: Talking a client out of purchasing a $2 million Amtrak Observation Car.
RR: Will the credit crisis bringing on a recession?
MS: I don't believe so — at least not a major one.
RR: Maximum share of a client's portfolio you will invest in international equities these days?
MS: 30 percent.
RR: Best advice you ever received?
MS: If you don't ask, the answer is always no.