For the past twenty-five years, Dick Pfister, CAIA, founder and CEO of AlphaCore Wealth Advisory and La Jolla resident, is committed to helping families build their wealth. Acknowledging this dedication, La Jolla Light recently spotlighted Pfister, AlphaCore and the local firm’s inaugural Wealth Summit for the publication’s People in Your Neighborhood column.
While Pfister hails from Wisconsin, he attended college at the University of San Diego but then moved to Chicago following graduation. However, he would then soon return and settle in La Jolla, where he began to shine in the financial field.
During this time, Pfister discovered a gap in wealth advisement. “I always felt like if the institutions have access to these managers, why shouldn’t a person?” he explains. “Instead of having $20 [million] minimums, you [could] have $25,000 minimums.” It was through this realization that he founded AlphaCore in 2015.
As a “full wealth advisory” firm offering everything from investment management to financial planning and located on Prospect Street, the firm recently hosted its inaugural AlphaCore Wealth Summit. This event brought together money managers, economists, wealth planning experts, accountants, estate planners and more at La Jolla’s Conrad Prebys Performing Arts Center for a full day of learning about innovative investment strategies.
“We’ve done a lot of client appreciation events historically, at Petco Park or lunches, but … we were hearing from clients that they wanted to hear more from the direct money managers or have their questions answered on specific things like estate planning,” says Pfister. “[With the summit], we had all of our clients and/or prospects come and see the likes of what we call the best in the investment management space.”
After the success of this year’s event, Pfister tells the publication that he intends the Summit to be an annual event to ensure that families remain educated on the ever-evolving ways to protect and grow their wealth.
“One of the basic universal truths is understanding what you’re investing in and having the appropriate expectations for what that’s going to give you,” claims Pfister. Proper portfolio diversification is another one of his core tenets when wealth advising. “Diversify that money into different types of non-correlated strategies, whether that’s stocks or bonds or real estate or alternatives,” he explains.
Click here to view the entire segment. To learn more about the annual AlphaCore Wealth Summit or to pre-register for 2024’s event, click here.