Tom Garvey Brings Expert, Independent Financial Advising to the LCR Family
LCR has hired Tom Garvey to the leadership team, and has finalized registration of LCR Wealth Management LLC as a registered investment adviser with the State of Connecticut.
WESTPORT, Conn., April 19, 2021 /PRNewswire/ -- LCR Capital Partners is excited to announce the addition of Tom Garvey to the senior leadership team and the launch of LCR Wealth Management LLC as a new Registered Investment Adviser in the State of Connecticut. Tom has been an investment Adviser Representative with 18 years of advisory experience at Goldman Sachs and United Capital. He began his career in wealth management at PriceWaterhouseCoopers investigating asset management fraud and brings a real understanding of what motivates financial institutions and wealth managers.
Tom's career has been founded on giving truly independent financial advice. Unlike stock brokers who sell securities, a registered investment adviser has no incentive to offer particular investment products. In fact, they are required by law to be fiduciaries for their clients and may only recommend investment opportunities that are in their clients' best interests.
Seeing the impact of bad financial advice prompted Tom to become an investment adviser representative. He was working in corporate finance when he was contacted by family members who had lost a significant portion of their retirement funds due to bad management.
"There was nothing short of terror in my relatives' voices when they called," Tom said. "They had retired two years earlier, and they had lost half of their retirement. Moments like this in your life that just change you."
Tom reached out to a colleague at PricewaterhouseCoopers and managed to find an investment plan to salvage his relatives' portfolio. The experience opened his eyes to a whole new world. After this experience, Tom moved to PWC where he was responsible for auditing the operating practices of financial services firms. In that role Tom realized how often wealthy families' investments could fall victim to bad broker services.
"It occurred to me how much unknown risk there was to clients," Tom said.
In working directly with clients to offer investment advice for the past 18 years, Tom said his approach has been to get to know as much as possible about his clients, their goals for their investments and their level of comfort with risk. Above all, Tom said he strives to build a sense of trust and confidence with his clients.
"Everything is based on understanding the person and the family. If you don't get to know them before giving advice, you're either cutting and pasting a standard answer or just throwing a dart at the board and trying to hit something," Tom said. "Every client is different and high networth families shouldn't be taking standard portfolios based on a couple questions about risk tolerance."
More importantly, he believes clients need to understand the visible and invisible incentives behind financial products. With his background investigating fraud, Tom is dedicated to helping protect his clients from scams or financial malpractice.
"I've seen almost every bad thing that can happen," Tom said. "My whole perspective is to make sure that never happens to you. Once you're my client, you're under my protection, and there are a lot of scams out there."
"LCR believes in operating at a high standard and in our EB-5 business we have only sourced projects with top quality developers clients can trust. We don't believe placing an investment is about the transaction, it is part of a long-term relationship where we help our clients succeed in the United States," said Sherman Baldwin, CEO of LCR Capital Partners. "Bringing Tom onto the team is an exciting moment for LCR and a logical extension of our business. Our goal is to build the same level of trust a registered investment adviser has with all of our clients."
Tom is excited to bring his experience to LCR Capital Partners' international clients that have moved to the US through LCR Wealth Management. He knows investors coming from outside the United States may be even more uncertain about who to turn to for trustworthy investment advice, and he believes his approach will help them to be more comfortable in making investment decisions.
Tom met LCR Founder and Chairman Suresh Rajan over five years ago when he was investigating EB-5 capital with a business partner. Tom and Suresh found common ground in how they deal with their clients – with an eye toward collaboration and trust.
"Tom is incredibly smart and talented. He brings a consulting mindset to his work which is exactly how we approach the future of LCR. We want to start with our clients, their families and their aspirations. Whether it is moving to the US for their children's education or relocating to start the next Google, we can help them each step of the way," said Suresh Rajan, Founder and Executive Chairman of LCR Capital Partners.
LCR Wealth Management is registered with the Connecticut Banking Commissioner at the address of 315 Post Road West STE 200, Westport, CT 06880.
Learn more at: www.lcrwealth.com
About LCR Wealth Management
LCR Wealth Management is a Registered Investment Adviser that provides successful families personalized investment advice on a fee basis. As a fiduciary to its clients, LCR Wealth Management is required by law to put its clients interests ahead of its own interests. Tom Garvey founded LCR Wealth Management after 18 years of experience as an Investment Adviser Representative at Goldman Sachs and United Capital. LCR Wealth Management is registered with the Connecticut Banking Commissioner at the address of 315 Post Road West, Ste 200, Westport CT 06880.
Website: http://www.lcrwealth.com
About LCR Capital Partners
LCR Capital Partners is a private investment and advisory services firm that supports families interested in global opportunities. Founded in 2012, the firm's primary focus is supporting clients interested in immigrant investor programs. LCR has helped over 850 clients move to the United States through the EB-5 Immigrant Investors Program. LCR also works with the E-2 Investors Visa, the Portuguese Golden Visa, and Grenada's Citizenship by Investment program. The firm focuses on conservatively-structured funds invested in signature real estate developments. These projects create new American jobs and help develop communities across the United States, in Portugal and in Grenada. Over the past 5 years, LCR has built long-term, trust-based relationships with a global client base of high-net-worth families in over 30 countries around the world. LCR is headquartered in Westport, CT, and runs a global network with teams in Miami, San Francisco, São Paulo, Dubai, Singapore, and Mumbai.
Website: http://www.lcrcapital.com
For more information please contact:
John M. Baker
Chief Marketing Officer, LCR Capital Partners LLC
[email protected]
+1 203 883 1940 x104
SOURCE LCR Capital Partners
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