Terry’s Latest Investment

[Porous Five Hole]

https://www.bloomberg.com/news/articles/2022-07-29/buffalo-bills-owner-backs-startup-targeting-wealth-advisory-boom?utm_campaign=socialflow-organic&utm_content=business&utm_source=twitter&cmpid=socialflow-twitter-business&utm_medium=social
 

According to Bloomberg‘s estimates, TP is worth $7.7 billion.  👀👀

Edited July 30, 2022 by Porous Five Hole

[Taro T]

1 hour ago, Porous Five Hole said:

https://www.bloomberg.com/news/articles/2022-07-29/buffalo-bills-owner-backs-startup-targeting-wealth-advisory-boom?utm_campaign=socialflow-organic&utm_content=business&utm_source=twitter&cmpid=socialflow-twitter-business&utm_medium=social
 

According to Bloomberg‘s estimates, TP is worth $7.7 billion.  👀👀

Considering the rich got richer during the lockdown, NFL franchises are selling for close to double what Terry paid, & hydrocarbons are selling for twice what they were 2 years ago, it seems reasonable he's gone from ~5B to $7.7B since buying the Bills.

[PerreaultForever]

Boy that sounds like some of that shady back room rich getting richer stuff. Well goof for him. Maybe we can stop being a cap floor team then?

[Stoner]

I wish him nothing but the best of luck in this worthy endeavor.

[Eleven]

I read the article and still can't tell what the company does.

[Wyldnwoody44]

Billionaires helping billionaires to stay billionaires. Or millionaires to become billionaires. 

Wayyy over my head, I don't even know what people do with that sort of money. Give me a few million and I'll retire, live comfortably within my means for the rest of my days. 

 

[Sabres Fan in NS]

1 hour ago, Eleven said:

I read the article and still can't tell what the company does.

Nothing.  Except find ways for the very wealthy to become even more wealthy.  Financial advisory is a scam.  If they were all so great advisors would they not all be wealthy and retired?  I expect they spend a lot of time sourcing tax dodge sceams too.

Edited July 30, 2022 by Sabres Fan in NS
not sure ...

[That Aud Smell]

the company provides “back-office support for a consortium of independent advisory firms … .”

Confirmed: Terry reads this board and saw the recent chatter about Golisano and Paychex.

[Eleven]

14 minutes ago, That Aud Smell said:

the company provides “back-office support for a consortium of independent advisory firms … .”

Confirmed: Terry reads this board and saw the recent chatter about Golisano and Paychex.

Yeah, that's the sentence that tells me absolutely nothing about what the company does.

[JustOneParade]

9 minutes ago, Eleven said:

Yeah, that's the sentence that tells me absolutely nothing about what the company does.

@Eleven , I assume you are an attorney - either a sole practitioner or part of a firm. You are the one who interacts with the clients but there are other people that clients rarely, if ever, see that perform other necessary activities in support your firm's operation. In advisory firm parlance, those other people are 'back office support'. There's a lot that goes on there particularly with respect to custody, trading, regulatory and compliant matters among many others.

The numbers are interesting. If the stated goal is $40B in assets and the advisory firms charge 1% (to make numbers round) then by Bison Wealth charging the advisory firms 10% for back office support (again for simplicity) its revenue will be $40M annually. If it's cost to provide that support is $20 - 30M that's a healthy margin. I'm not sure what competitive advantage Bison Wealth can provide over existing firms in that business. They feel like they've figured it out, obviously.

[Pimlach]

2 hours ago, Wyldnwoody44 said:

Billionaires helping billionaires to stay billionaires. Or millionaires to become billionaires. 

Wayyy over my head, I don't even know what people do with that sort of money. Give me a few million and I'll retire, live comfortably within my means for the rest of my days. 

 

Better yet you can save a few million and then retire comfortably.  

[JustOneParade]

1 hour ago, Sabres Fan in NS said:

Nothing.  Except find ways for the very wealthy to become even more wealthy.  Financial advisory is a scam.  If they were all so great advisors would they not all be wealthy and retired?  I expect they spend a lot of time sourcing tax dodge sceams too.

@Sabres Fan in NS This is an erroneous broad based criticism. Every single one of my 190 clients would vehemently disagree with you. (I just 'outed' myself).

 

[Stoner]

Imma make popcorn.

[JustOneParade]

No need. This was peripherally a hockey related thread to begin with. Didn't intend to take it further off the rails. And won't continue to. Let's get back to hockey.

[Sabres Fan in NS]

29 minutes ago, JustOneParade said:

@Sabres Fan in NS This is an erroneous broad based criticism. Every single one of my 190 clients would vehemently disagree with you. (I just 'outed' myself).

 

Sorry, buddy.  No offense intended.  I know you just want to help your clients as do I.  I'm no financial guru though.  Just a CPA.

Cheers ... 🍻

I can't wait for us to plan that parade.

19 minutes ago, PASabreFan said:

Imma make popcorn.

[aristocrat]

Josh, tre, stefon, tage, jeff, Kyle, rasmus I’ve got a wealth business for you guys to invest in. Plus whoever else is next up for the 100 million dollar club

[JustOneParade]

2 hours ago, Sabres Fan in NS said:

Sorry, buddy.  No offense intended.  I know you just want to help your clients as do I.  I'm no financial guru though.  Just a CPA.

Cheers ... 🍻

I can't wait for us to plan that parade.

No worries NS. All good. I'm sure in your profession you must see via your clients' 1099s a lot of questionable, if not unscrupulous, investment activity. Sadly.

[That Aud Smell]

5 hours ago, Eleven said:

Yeah, that's the sentence that tells me absolutely nothing about what the company does.

Paychex is the very definition of back office support.

I feel like back office support has a fairly clear meaning, even while YMMV across industries.

Edited July 30, 2022 by That Aud Smell

[That Aud Smell]

4 hours ago, JustOneParade said:

Every single one of my 190 clients would vehemently disagree with you. (I just 'outed' myself).

[Wyldnwoody44]

7 hours ago, Pimlach said:

Better yet you can save a few million and then retire comfortably.  

I'm working on it, it's a slow progress, I'll take risks with my person but not so risky with my finances 😂

[Eleven]

2 hours ago, That Aud Smell said:

Paychex is the very definition of back office support.

I feel like back office support has a fairly clear meaning, even while YMMV across industries.

I cannot imagine back office support tailored expressly to investment firms though…

7 hours ago, JustOneParade said:

@Eleven , I assume you are an attorney - either a sole practitioner or part of a firm. You are the one who interacts with the clients but there are other people that clients rarely, if ever, see that perform other necessary activities in support your firm's operation. In advisory firm parlance, those other people are 'back office support'. There's a lot that goes on there particularly with respect to custody, trading, regulatory and compliant matters among many others.

The numbers are interesting. If the stated goal is $40B in assets and the advisory firms charge 1% (to make numbers round) then by Bison Wealth charging the advisory firms 10% for back office support (again for simplicity) its revenue will be $40M annually. If it's cost to provide that support is $20 - 30M that's a healthy margin. I'm not sure what competitive advantage Bison Wealth can provide over existing firms in that business. They feel like they've figured it out, obviously.

Although this helped a little.

[Contempt]

Granddad could invest in a decent t-shirt.

[Eleven]

4 minutes ago, Contempt said:

Granddad could invest in a decent t-shirt.

I am considerably younger than he is, and I don’t have a decent t-shirt.  I don’t have use for them outside of a gym.   (@Drunkardwill probably appear to call me Mister Peanut again.)

Edited July 30, 2022 by Eleven

[Contempt]

2 hours ago, Eleven said:

I am considerably younger than he is, and I don’t have a decent t-shirt.  I don’t have use for them outside of a gym.   (@Drunkardwill probably appear to call me Mister Peanut again.)

He's got the budget for a fashion consultant and he owns the god damned team, can he have a branded shirt?

[Zamboni]

Are there seriously guys who give a flying F what the F other guys wear? And then based on the guys income, care to another level? I mean really? God I’m glad I’m not hung up on what Terry wears/doesn’t wear. 

Edited July 31, 2022 by Zamboni