MEREDITH — The call of the mountains lured a Wall Street trader to New Hampshire, and for the past six months he has been offering his investment and financial planning services through the DAK Financial office in Meredith. Mark Patterson, who does business as MHP Asset Management, LLC, said he sees himself as distinct from other local offices that offer similar services, and he uses a food analogy to explain.
Other financial planners, especially those affiliated with nationally-recognized firms, are retailing a range of investment funds created and managed by someone else, somewhere else. Think of those products, Patterson suggests, as the case of sausages available at a supermarket. Patterson, though, uses his expertise and experience to be able to tailor an investment strategy to a client's individual preferences.
"I'm the sausage maker," he said. "I create the investment portfolio using individual stocks, bonds or exchange-traded funds... What I'm able to do is mix a portfolio based on their risk tolerances and needs."
"Would you rather go to the artisan sausage maker and pick out the blend of spices, cuts of pork or veal, or go to Hannaford and pick out mystery meat in a casing? Oddly, the mystery meat costs more, that goes to marketing."
In the mid-90s, Patterson was working for a large, institutional trading firm in mid-town Manhattan. He and his wife slowly began moving out of the city, into Rhode Island, where he taught at Roger Williams University and commuted into New York City by train. They also bought a chalet in Bartlett that they used for snowboarding getaways, and in 2000 they decided to relocate to New Hampshire. After working in the Upper Valley, Patterson now lives in Alton and partners with Dave Kutcher, an insurance expert, to provide a full range of services through DAK Financial.
"With the way we can do business electronically, over the internet, there's no advantage to doing business in New York anymore, except for perception," he said. The biggest challenge he faces is changing that perception – that he offers the ability to build a bespoke investment portfolio, and that he comes from a career at a major investment firm. "I've converted that over to working with individuals – I can give them the same analysis that they would have to go to mid-town Manhattan for... I just chose not to live there anymore."
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