It comes as bittersweet news that we announce the retirement of one of Private Ocean’s Co-Founders, Richard Stone. Richard will retain the title of Chairman Emeritus and, as a client of Private Ocean, you will continue to see him at our client events.
Known as a driving force for the firm and an inspiration through the years, Richard began his career in financial planning in the late 1960’s. Determined and focused, Richard often tells the story that he graduated from college on a Friday and went to work the following Monday for an Oakland investment firm.
In 1973 he was one of 42 people in the first class to be credentialed as a Certified Financial Planner (CFP®) by the College for Financial Planning. Fresh out of college, as a member of the board of directors for the International Association of Financial Planners (IAFP), Richard chaired the committee that wrote the first code of ethics for the financial planning industry. He received several awards and accolades over the years and was recognized for a lifetime of contributions to the financial planning industry when he received the Charles Schwab Impact® Leadership Award in 2011.
Richard started Salient Wealth Management in 1983 and through a merger with Friedman & Associates co-founded Private Ocean. Throughout his many years in the industry, Richard’s primary focus was always to help clients reach their financial goals through financial planning and academic investment strategies. Over the past several years Richard has mentored and worked with the Private Ocean advisor team to ensure that clients continue to receive exceptional service and advice well into the future.
All of us at Private Ocean wish Richard all the best as he embarks on life’s next chapter. No doubt Richard will continue to stay engaged in the community through his work with the Buck Institute and other endeavors in the Bay Area. Congratulations Richard!
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