Pittinos Financial Advisers, Llc

10 Pages Posted: 5 Apr 2010

See all articles by Marc L. Lipson

Marc L. Lipson

University of Virginia - Darden School of Business

Richard B. Evans

University of Virginia - Darden School of Business

Abstract

The owner of a small financial services firm is evaluating the performance of four funds to determine whether to offer them to his clients. The funds span a variety of objectives and include a recently initiated fund. The case explores issues related to the evaluation of mutual fund performance, including the selection of benchmarks and the effect of fees. The case provides a natural and compelling context in which to discuss market efficiency.

Excerpt

UVA-F-1599

Rev. Nov. 30, 2011

Pittinos Financial Advisers, LLC

Christopher Pittinos was a third-generation Italian immigrant who still lived in the mostly Italian south Philadelphia neighborhood in which he was raised. An area made famous as the setting for the 1976 hit movie Rocky, in 2011 it was still a place to find quaint row houses on narrow streets with an abundance of locally owned shops, restaurants, and businesses. It was also the home of Pittinos Financial Advisers, LLC, the firm Pittinos had started over a decade earlier after leaving his job as a financial adviser for a major bank. His firm's primary focus was providing advice to the many individuals and families that alternately struggled and flourished in his neighborhood.

Pittinos Financial offered a traditional set of financial services, including financial planning, investment management, insurance, and estate planning. Its clients were often the owners of small family businesses. A key to the firm's success and expanding client base (by 2011, the firm had five full-time advisers) was a philosophy of providing its clients with a comprehensive plan developed from transparent and easily understood alternatives. He often observed of his clients:

The friends and neighbors who are our clients are not simple people—their love of simplicity arises from their appreciation of the true nature of things. As with their food, where quality ingredients and simple recipes are revered, our clients look to us for the highest-quality investment alternatives and financial plans they can understand and appreciate.

. . .

Keywords: financial adviser strategy forecasting

Suggested Citation

Lipson, Marc Lars and Evans, Richard B., Pittinos Financial Advisers, Llc. Darden Case No. UVA-F-1599. Available at SSRN: https://ssrn.com/abstract=1583750

Marc Lars Lipson (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-4837 (Phone)
434-243-5021 (Fax)

HOME PAGE: http://www.darden.virginia.edu/faculty/lipson.htm

Richard B. Evans

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States
434-924-4030 (Phone)
434-243-7680 (Fax)

HOME PAGE: http://faculty.darden.virginia.edu/evansr/

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