Dan Wiener
Daniel Philip Wiener (born 1956) is an American investment analyst, author and chairman of Adviser Investments, a fee-only registered investment adviser (RIA) with offices in Newton, Massachusetts and Brooklyn, New York. [1] He is the senior editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that analyzes recent developments at Vanguard and provides model portfolios for subscribers to follow. [2] Wiener is also senior editor of the annual Independent Guide to the Vanguard Funds, a guidebook that provides historical data and forward-looking analysis of Vanguard mutual funds.
[i] https://www.barrons.com/articles/vanguard-cashes-in-on-dividend-funds-51566468001
[ii] https://www.investmentnews.com/article/20190822/FREE/190829974/etf-providers-quietly-dial-back-production
Early life and career
Wiener graduated from Tufts University with a BS degree in biology. He was a member of the nationally ranked Tufts sailing team for two years and part of the New England collegiate championship team his freshman year. He began his career covering the nascent software industry and Wall Street as a reporter for Fortune magazine.[3] Wiener then moved to U.S. News & World Report, where he shifted his focus to mutual funds.[4]
Newsletter
In 1991, Wiener launched The Independent Adviser for Vanguard Investors, an independent newsletter on Vanguard funds, from his home in Brooklyn, NY.[5] One year later, he quit his job at U.S. News & World Report to focus on the newsletter full-time.[6]
Adviser Investments
Wiener co-founded and remains chairman of Adviser Investments, an independent wealth management firm started in 1994 at the behest of investors and newsletter readers who were asking Wiener to apply his management expertise to their portfolios.[7] He founded Adviser Investments with David Thorne and Dan Silver, who developed a plan to launch an investment advisory business focused on personalized wealth management.[8][9]
Adviser Investments began with one $180,000 client in Oregon.[10] According to SEC filings, as of December 31, 2018, the firm managed more than $5 billion of client assets on a discretionary basis.[11]
Acquisitions and talent acquisition have been critical to Adviser Investments’ growth. In 1999, the firm brought in Fidelity funds expert, Jim Lowell, and his client base from Adams, Harkness & Hill.[12] According to Barron’s, Wiener and Lowell “are better versed at the track records of individual star investors than just about anyone else around.” [13]
Adviser Investments' second merger came in 2011 when E*Trade sold RIA Kobren Insight Management to Adviser Investments, increasing Adviser Investments’ total assets under management to more than $2 billion.[14] In February 2017, Adviser Investments acquired Braver Wealth Management, driving the firm’s total AUM to more than $4.7 billion and enhancing its financial planning and tactical investment product offerings.[15][16]
Investment philosophy
Wiener believes that the growth of indexing provides more stock-picking opportunities to proven, exceptional fund managers.[17] Press coverage describes him as “a buyer of managers” rather than a “buyer of mutual funds.” [18] “Historical expertise and relationships” have guided much of his manager selection, according to CityWire.[19][20] In particular, he looks at how managers perform during bear markets and values the insights gathered while talking with managers to gauge their “passion and commitment” to stock-picking. [21]
As chairman of Adviser Investments, he and his colleagues invest with the same managers in the same mutual funds as he selects for clients.[22] As Barron’s notes, Adviser Investments’ 401(k) plan also invests in the same funds recommended to clients.[23] Wiener looks for the same in the fund managers he invests with and seeks managers with at least $500,000 of their own money invested in the portfolios they run. [24]
References
- ↑ Strauss, Lawrence C. "There's More to Vanguard's Income Funds Than Dividend Growth". www.barrons.com. Retrieved 2020-03-05.
- ↑ "ETF providers quietly dial back production". InvestmentNews. 2019-08-22. Retrieved 2020-03-05.
- ↑ "'Vanguard trying to sue me put us on the map': Adviser Investments' Dan Wiener and Jeff DeMaso". sjo3ekt.js. Retrieved 2020-01-23.
- ↑ "'Vanguard trying to sue me put us on the map': Adviser Investments' Dan Wiener and Jeff DeMaso". sjo3ekt.js. Retrieved 2020-01-23.
- ↑ "Why Vanguard's Actively Managed Funds Are a Better Bet". www.kiplinger.com. Retrieved 2020-01-23.
- ↑ "Why Vanguard's Actively Managed Funds Are a Better Bet". www.kiplinger.com. Retrieved 2020-01-23.
- ↑ "'Vanguard trying to sue me put us on the map': Adviser Investments' Dan Wiener and Jeff DeMaso". sjo3ekt.js. Retrieved 2020-01-23.
- ↑ "Adviser Investments Buys Braver Wealth". www.fa-mag.com. Retrieved 2020-01-23.
- ↑ "Top 10 Financial Advisors in Boston MA". www.seniorfinanceadvisor.com. Retrieved 2020-01-23.
- ↑ "'Vanguard trying to sue me put us on the map': Adviser Investments' Dan Wiener and Jeff DeMaso". sjo3ekt.js. Retrieved 2020-01-23.
- ↑ "FORM ADV PART 2(A) DISCLOSURE BROCHURE". Unknown parameter
|url-status=ignored (help) - ↑ "Adviser Investments Buys Braver Wealth". www.fa-mag.com. Retrieved 2020-01-23.
- ↑ Norton, Leslie P. "Sizing Up Fidelity and Vanguard Managers". www.barrons.com. Retrieved 2020-03-05.
- ↑ "E*Trade sells wealth unit to Massachusetts rival". Reuters. 2011-03-21. Retrieved 2020-01-23.
- ↑ "Boston-area acquisition creates $4.7 billion RIA". InvestmentNews. 2017-02-01. Retrieved 2020-01-23.
- ↑ "Adviser Investments Buys Braver Wealth". www.fa-mag.com. Retrieved 2020-01-23.
- ↑ "Why Vanguard's Actively Managed Funds Are a Better Bet". www.kiplinger.com. Retrieved 2020-01-23.
- ↑ "Why Vanguard's Actively Managed Funds Are a Better Bet". www.kiplinger.com. Retrieved 2020-01-23.
- ↑ Norton, Leslie P. "Sizing Up Fidelity and Vanguard Managers". www.barrons.com. Retrieved 2020-03-05.
- ↑ "'Vanguard trying to sue me put us on the map': Adviser Investments' Dan Wiener and Jeff DeMaso". sjo3ekt.js. Retrieved 2020-03-05.
- ↑ "Four Great Actively Managed Vanguard Funds". www.kiplinger.com. Retrieved 2020-03-05.
- ↑ Arvedlund, Erin. "Skin in the Game". https://www.inquirer.com. Retrieved 2020-03-05. External link in
|website=(help) - ↑ Norton, Leslie P. "Sizing Up Fidelity and Vanguard Managers". www.barrons.com. Retrieved 2020-03-05.
- ↑ Norton, Leslie P. "Sizing Up Fidelity and Vanguard Managers". www.barrons.com. Retrieved 2020-03-05.
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