Advisers on the Move

Former UBS reps form new RIA

Apr 19, 2010 @ 3:17 pm

By Lisa Shidler

Three former UBS advisers today announced that they've formed an independent registered investment advisory firm called Mississippi Investment Management Company LLC in Jackson.

Leading the firm are advisers Tom Bertaut and Chris Carrico, who left the Jackson office of UBS AG in January, and Bill Whitney, a UBS veteran adviser who retired from the industry six years ago.

Forbes Watson, an equity portfolio manager for Royal Bank of Canada until January, has joined the three ex-UBS reps in their new venture. The firm has about 70 clients and $100 million in assets.

Mr. Whitney said the new firm will use a customized investment solution for clients.

“We don't try to do anything fancy,” Mr. Whitney said. “We're not into the new products. We're not into the derivatives. It's a very old-fashioned concept.”

The firm has selected Pershing Advisor Solutions, an affiliate of Pershing LLC, as its clearing and custody agent.

Mr. Whitney said the firm will concentrate on helping individuals with a number of wealth issues, including ensuring that portfolios are tax-efficient.

“We pay a great deal of attention to taxes,” he said. “I can count on one hand the amount of times I've taken a short term gain. We're very concerned that accounts be efficiently managed.”


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