The Savings and Loan (S&L) crisis comes to a head. Over 30% of S&L associations failed as a result of the crisis; this was over 1,000 individual institutions. Due to loose lending standards and deregulation, the US Government, since S&L were insured by the Federal Savings and Loan Insurance Corporation (FSLIC). Despite the risk, investors continues to pile in, ultimately, the bailout amounted to approximately$124 billion in bailout money.
Kathleen and Greg begin working together as Senior Investment Consultants at Yanni-Bilkey Investment Consulting
Greg begins the Asset Planning Group
Kathleen joins Greg in Asset Planning
1994 through 1999
Greg and Kathleen manage and run the Asset Planning Group at Yanni-Bilkey Investment Consulting. Over this period they interview thousands of investment managers and grow assets to around $500 million
Kathleen and Greg leave Yanni-Bilkey to begin their own investment advisory business
March 3, 2000
The fervor of the Tech Bubble ended as the NASDAQ reached its peak level of 5,408.60. The savvy investors that avoided the over-priced portions of the market enjoyed a proceeding period of out-performance. The ones that did not saw their investments lose as much as 99% of their value.
September 11, 2001
Terrorists crash two airplanes in the World Trade Centers in NYC. Due to fear of a severe market sell-off, the NYSE and NASDAQ remained closed until 09/17/2011. When the markets opened again the Dow Jones lost approximately 14% of its value in the first week. Despite the panic, the market rebounded back to its 9/11 point only one month after the tragedy.
Wright Associates was incorporated and Kathleen and Greg begin to independently manage assets for select institutions and high net worth individuals.
2002 through 2011
Kathleen and Greg slowly and methodically build their business to assets over $100 million.
March 9, 2009
The S&P 500 hit its low point following the financial crisis. This was an approximate 57% decrease following the high the S&P reached on 10/07/2007.
Wright Associates hires a third employee, Adam Wright, Kathleen’s son. Adam begins to manage the information systems and the portfolio reporting
Wright Associates celebrates their 10th anniversary.
Kathleen is awarded the Five Star Wealth Manager award. For more information about the criteria required for this award see http://www.fivestarprofessional.com/five_star_award
Wright Associates continues to maintain and enact their investment principles while planning for longer-term succession.