We're not saying that 2017 is shaping up to be a weird year but the Chicago Cubs are reigning world champs, Bob Dylan has a Nobel Prize and Donald Trump is leader of the free world.
Apparently, the fever of "Anyone can do anything" is spreading...
Richard Fuld is backing a multifamily office that will help small-business owners manage their personal wealth, part of a comeback effort by the former head of failed investment bank Lehman Brothers Holdings Inc.
Dick Fuld is back again, baby! And he's offering his advice...in exchange for a lot of your money.
Matrix Wealth Partners, in registering as an investment adviser last month, disclosed that it’s partly owned by Fuld. The New York-based firm’s other owners are Matthew Rubin and Justin Gaines, both of whom come from Neuberger Berman, a former Lehman money-management unit that oversaw about $255 billion at the end of September.
The multifamily office will complement Matrix Advisors, a consulting firm that Fuld set up in the aftermath of Lehman’s September 2008 bankruptcy to help small and medium-sized companies raise cash, according to the filing. Fuld’s clients could hire Matrix Advisors to help them sell their closely held businesses, then turn to Matrix Wealth Partners for advice on how to invest the proceeds.
But if you're going to give Dick Fuld all that cash for his proven business acumen and too big to can't fail advice, you probably want to know what he's been up to lately...
In 2015, Matrix Advisors consulted on the sale of the National Stock Exchange and, according to a Reuters report, Fuld also set up a New York real estate firm called Matrix RE Brokerage. Fuld broke his silence that year by speaking at the Marcum MicroCap Conference on Lehman’s demise, the financial crisis and its aftermath.
“Why has the belly of America been ripped out?” he said at the time. “The small companies can’t get financing.”
At least we know that the advice will be..."visceral"?