During the slower days this holiday season, I had some time to reflect, and my mind consistently reverted to an ancient Chinese proverb, “The journey of a thousand miles begins with a single step.” Much of my reflection was sparked by a recent milestone event for The Ross Group: the achievement of over $1 billion of assets under management*. When I think about the aspirational goals that I set forth 46 years ago as a college intern at the Ferris & Company stock brokerage firm, I never could have imagined this achievement, nor all the wonderful clients over the years who have bestowed their trust, client referrals, and investment assets in and with The Ross Group.
I have been blessed with a loving and supportive family, along with a few extraordinary mentors who were critical in the personal development of my life. Gail Winslow, the Vice Chairman of Ferris & Company and the woman who would change my life, took a chance on me when I was a junior at George Washington University and hired me to be her intern. I learned so much from Gail about life and also about how to strive for success by setting goals and keeping score each day. When I graduated college and then passed the exams to become a securities broker in 1981, Gail gave me my first assignment: Think about where I wanted to be in life when I was 65-years-old and then draft a plan to get there. It was a great lesson for me at the time because I developed a coordinated set of checks and balances as a guide towards my aspirational goals. “Sticking to the plan” in my business development also gave me perspective to focus on “the long game” with respect to clients’ portfolios.
While my other mentors, George M. Ferris Sr. and George M. Ferris Jr., might not be considered “influencers” in today’s show-me society, they were so selfless with their business decisions and counsel to others. One particular example was when the Ferris men decided to establish an Employee Stock Ownership Plan (ESOP) in 1971 to give every employee at the firm some “skin in the game.” That statement of goodwill helped to take the firm to another level over a period of years, and it provided me with great guidance and perspective when I invited my five colleagues at The Ross Group to become partners over a period of years in the Ross Group practice. As such, it does take a village and they are equally responsible for any achievements or success at The Ross Group.
The Ross Group has always been guided by a simple ethos regarding our portfolio management: “A rising income stream creates wealth over the long term.” It often takes years and even decades to achieve one’s personal goals and dreams, but nothing is out of the realm of possibility if one sticks to a cogent and disciplined plan in life. Time and longevity do have their merits in so many countless ways, and so many of us have benefitted from those time-tested lessons in life.