Dan Stewart

CFA®
Personal Finance, Retirement, Investing
97%
Helpful
764
Answers
13
Articles
264
Followers
“With 24 years of experience in the financial services industry, Daniel Stewart helps his clients achieve their investment goals by providing actionable, non-biased research and advisory services.”
Firm:

Revere Asset Management

Job Title:

President & CIO

Biography:

Have our short Daily Market Video http://noramassetmanagement.com/newsletter/ sent directly to your inbox.  I promise we will not spam or solicit you in any way.  It is for educational purposes & my two collegues - Chief Strategist Tim Reazor and Portfolio Manager Don Vandenbord - alternate sharing our research.

Daniel Stewart is President & CIO of Revere Asset Management and has been providing financial services and portfolio management for over twenty years.  Revere Asset is a Fee Based RIA which Always Acts as a Fiduciary in the Best Interest of its Clients.  Prior to joining Revere Asset Management, Dan advised on investment portfolios exceeding $200M. He is also well versed in comprehensive planning including corporate, individual, and estate planning.

Dan joined the NorAm Capital team in 2010 to create and manage their Private Wealth Management firm. This eventually led Dan to buy the business and rename it Revere Asset Management. He graduated from The University of Texas at San Antonio with concentrations in Finance and Accounting. Dan has passed the CPA Examination on the first attempt and subsequently earned his CFA® Charter (Chartered Financial Analyst).

Dan, a native of San Antonio, Texas, is married with 3 children. Dan played NCAA tennis on a full scholarship at Vanderbilt University. He played professional tennis on the United States and European circuit and was then the Head Tennis Professional at both the Retama Polo & Tennis Club and Thousand Oaks Indoor/Outdoor Racquet Club, in San Antonio, Texas.  

Education:

Chartered Financial Analyst (CFA®), BBA in Accounting

Assets Under Management:

$38 million

Fee Structure:

Fee Based Only - Fiduciary with No Conflicts of Interest

CRD Number:

2649504

Insurance License:

#Yes Primarily Term

Disclaimer:

No information presented constitutes a recommendation by Revere Asset Management, to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities by Revere Asset Management. Revere Asset Management does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.

All Articles
Sort By:
Most Helpful
March 2017
    401(k), IRAs, Retirement Savings
February 2017
July 2017
May 2017
May 2018

All Answers
Sort By:
Most Helpful
    Retirement, Asset Allocation, Choosing an Advisor, ETFs
Is my portfolio spread across too many funds given my age?

Twenty funds is a lot, and you likely have duplication. There is such a thing as over diversification.  And Modern Portfolio Theory (MPT), which I don't agree with parts of, dictates that because the fact you are "seasoned" you need to have a nice chunk in bonds, and move more towards bonds as you get older.  Never mind the fact that bonds are going down and have been for approx a year and interest rates are still rising.  The 60-40 Balanced Funds are only up a few percent for the year because the 40% in bonds have lost money.

You want enough diversification so that one or two positions don't ruin your retirement, but not too much that is completely dilutes your return.  Therefore you want to remain in a variety of the stronger sectors while avoiding the worst 30%.  So this year, you should have avoided bonds, emerging markets, and gold.  This will change at some point, but thus far, that trend is still very much intact. 

I also believe that investors should have a sell discipline on all of their positions in their portfolio.  This is contrary to the mainstream, but it is much more about the risk in the markets or asset class than your risk tolerance.  Position sizing and a sell discipline are even more important as you get older and cannot afford to go through a major correction.

This is what you are feeling but just can't quite put your finger on it.  Many mainstream advisors who are fiduciaries and honest believe the MPT data, but the numbers are cooked.  MPT assumes that returns fall under the Normal Standard Distribution, or Bell Curve.  They don't!  Returns are not normally distributed under the Bell Curve.  Returns are more widely distributed and have "fatter" tails, known as tail risk.  In plain English this means that they are measuring for the 100 year flood, but it come every 10 years or so.  There are more surprises to the upside and the downside.

They also believe you can't ever time the market on a trending basis (not day trading), therefore you simply have to invest in a whole diversified basket of stuff even if much of the basket is going down.  I disagree & believe if you can just weed out the bottom 30% or so from the group, you will be better off using as many ETFs as necessary, normally 6 to 8, coupled with individual stocks with no mutual funds. Individual stocks don't have the carrying costs that funds do and you can better control your taxes. ETFs are also tax efficient, but mutual funds are not. Do they do individual stocks, or are they simply "outsourcing" to funds.  These are all questions you should ask.  I would also ask if they have a sell discipline or are they buy-and-hold.  That's my two cents.

Hope this helps and best of luck, Dan Stewart CFA®

2 weeks ago
    Estate Planning, Investing
Is it a good idea to have a brokerage manage my investments, and if so, how do I find a firm to do it for me?
67% of people found this answer helpful
2 weeks ago
    Career / Compensation, Retirement, IRAs, Mutual Funds, Taxes
Will I have to pay taxes on the gains generated by my retirement accounts once I am in retirement?
100% of people found this answer helpful
4 weeks ago
    IRAs, End of Life
What are my options and limitations for distributing money from a non-spouse inherited Roth IRA?
4 weeks ago
    Investing, Starting Out
Could I sell and keep the $10 profit on options that I bought, or should I wait closer to the expiration date?
100% of people found this answer helpful
4 weeks ago