Last week marked the one-year anniversary of Rasp Wealth Solutions, LLC! Although it’s been just one year officially, the journey began much earlier. In 1995, I interviewed with a regional firm, Raffensperger & Hughes, which was well-known for its municipal bond business in Indiana and Michigan. By the time I passed my exams and showed up for my first day of work in January 1996, the name on the door was changing to NatCity Investments, a division of National City Bank following a sale. My introduction to the industry was a lesson: things are always changing.
My journey, though, truly started long before 1996. The seed of curiosity about investments was planted on my 10th birthday by loving relatives, who gave me the unique gift of one share of stock. Among the toys and clothes I received that day, this gift could have easily been forgotten on a shelf or filed away. Instead, my grandfather seized the opportunity to build on it, creating what would become a lasting “teaching moment.” He showed me how to look up the stock’s price in the Wall Street Journal; it was an OTC stock, so it was listed separately from those on the NYSE and the American Stock Exchange. When my first quarterly statement arrived in the mail, my grandfather guided me through it, highlighting key points. He did this with every statement, annual report, and dividend reinvestment program update, subtly teaching me without overwhelming me. Those lessons never truly ended.
Occasionally, we’d watch “Louis Rukeyser” on PBS together, and my grandfather would clip articles he found interesting or relevant to investing. In the early 80s, he gave me a book about the growing importance of computers and automation, shaping my outlook on the future. He continued to send me thoughtful letters throughout college and into my early adult years.
In retrospect, my interest in investing and financial planning began with that gift, and a grandparent who saw the moment of opportunity and embraced it. While it took until my mid-20s to start my career in helping people invest and plan, the drive to learn, improve, and question has never left me.
I've always strived to do my best (perhaps well ingrained from Boy Scouts?). Despite my best intentions, the market provides lessons along the way as the world around me changed constantly. Adaptation has been critical, and I suspect it will continue to be essential as innovation and progress move forward. Authenticity and sincerity have always been critical to me and that is perhaps why I have always been driven to educated myself and others about investing and planning. I cannot simply sell and gather assets the major brokerage firms wanted so badly.
This acorn has not yet grown into a mighty oak, but steady growth over the years has laid a strong foundation. Whatever happened to that one share of stock that started it all? That story will have to wait for another post. It’s a powerful reminder to me, with each quarterly statement, of the enduring benefits of compounding and time in the market. I look forward to our next year as RASP Wealth Solutions, LLC. Thank you for coming along!