October 31, 2015

Take it from Florida’s top financial advisor

CN-callout-dwyer4_resized_v2Patrick J. Dwyer ’91 of Key Biscayne, Fla., is the managing director/wealth management at Dwyer & Associates of Miami, in the Private Banking and Investment Group of Merrill Lynch. He oversees $2.6 billion in assets, and his firm is the #4 producing advisory practice of Merrill Lynch worldwide. Dwyer was ranked the #1 financial advisor in Florida in 2015 for the third time by Barron’s and was named to Barron’s 2015 “America’s Top 100 Financial Advisors” list for the ninth consecutive year. Here he offers some straightforward investment advice.

Be Realistic
5 percent is the new 10 percent when it comes to investment returns.

Be Boring
Own stocks with a strong balance sheet and a “wide economic moat.” Remember your Blackberry?

Be Optimistic
There are not a lot of rich pessimists. Markets go up over time; stay in them.

Be Grateful
During my time at PC, my dad lost his job and a lot of his savings in the Bank of New England bankruptcy. During Mass, I watched him give his usual weekly check for $200 to the collection. Worried about money, I asked him why he was still giving. He looked at me and said, “Patrick, this is our club, and these are the dues.” I got the message.