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Invest miami 2020 features James Davidson

Invest: Miami 2020  Banking & Finance
Features James Davidson, Chairman & CEO
Coral Gables Trust Company. 
 
 
 
What is CGTC's approach to wealth management? 
 
We founded the Firm to fill the void of a shortage of institutional investment options for smaller portfolios of $1-5 million. My belief is that those relatively smaller investors should have access to the same world- class larger firms. We do not have any proprietary products (such as a mutual fund managed directly by CGTC), but we independently pick the best managers around the world to manage the diversified asset allocations. We also decided to acquire a regulated state trust company license, and operate as a fiduciary, offering asset-based fees and charging no commissions. 

At the large national and regional firms, no real local decision-making powers exist, because there are levels of management hierarchy, with the creative senior leadership with decision authority being located in NY or other distant headquarters. If your clients have questions, tough decisions, or creative solutions to be crafted, they can meet directly with our senior professionals who collectively have decades of experience and training at the mega firms and make decisions and provide advice to clients on the spot, rather than days later. 
 
What do you think when you look at the stock market performance?
 
I think it is outstanding to see how the stock market has done since March 23. There will probably be another round of stimulus, which is a good thing for the current economy and Wall Street is expecting it given today's valuations, but government payments cannot go on forever. The mounting debt is already putting a strain on the U.S. triple-A rating. We are kicking the can down the road to our children and grandchildren to repay the debt. We are lucky that interest rates are so low because otherwise the financial pressure would be horrendous. The problems would be best solved by ending the unnecessary lockdowns, but opening up has become such a damaging contentious, political issue today. 
 
 
 
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