I delayed writing about this for a few days to give Finacorp time to take care of a few items. Here is what Finacorp distributed to clients last week:
[Finacorp logo — contact data]
With the numerous recent changes at Finacorp Securities, Inc. including the departure of our founder and President combined with the subsequent reorganization, we felt it was in our best interest to suspend sales and trading as we address our minority status and capital requirements. As a minority registered broker dealer we have been challenged to raise additional capital in order to grow our business and to meet the greater demands of our customer base.
We regret to inform you that our efforts were unsuccessful and we be ceasing operations as of June 3rd, 2010
Thank you for your devotion and the opportunity to earn your business.
Finacorp Securities, Inc.
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I have nothing but gratitude for Finacorp over the past 2.5 years. After leaving my prior employer, I needed something flexible that would enable me to work from home. Finacorp provided that, but as it is now, I no longer need to work from home. I’m ready for new challenges, and though I don’t want to move from Maryland, I look at the situation as one that offers more upside than downside versus the past.
So what am I thinking about to employ myself?
- Equity management? I’m still doing well against the markets, and am trying to figure how I could make a business out of this. My track record is approaching 10 years with my own money, and I continue to do well. If you have ideas for me here, I am open. I can share an auditable track record with anyone that makes a credible proposal to me. I will be talking with a number of parties that have expressed interest in the past.
- Working for an investment firm in the area? Could be a good idea, I’ll be talking to friends and contacts.
- Go back to being an actuary? Mmm… not that many opportunities around here for that, but if anyone has ideas, I will listen.
- Consulting? I already have one good consulting project. If I could get enough clients, that could be workable. Potentially, I could consult for buy or sell-side firms in investing. I could also do that on the insurance side. As it is, in most of my jobs, I acted as an internal consultant to the firm when weird projects would come up. I love big, broad, unstructured problems. Consulting could also go along with…
- Writing? I have a few book ideas, but that doesn’t pay. I would be willing to consider “corporate blogger” type positions, but I have no idea whether any companies would want to consider me for that.
- Publish a newsletter around my investing models? I really don’t like this idea; I think most newsletters aren’t worth buying, and I am not sure I would want to be associated with doing writing one.
- Work for the government? Oddly, I have applied for an “Asset Management Specialist” position at the SEC, and have been talking with contacts that I have within the government about a variety of possibilities. I’ve written enough about economic and finance reform — it may be time to move from theory to practice.
- Other ideas? You want me to work for you from a distance? I will listen to proposals.
For the next month or so I am going to be batting around ideas. After that, I will try to focus on the most promising ideas. I welcome your support at this time of transition. Feel free to e-mail me.
Again, thanks for reading. My readers make my blog better.
Sincerely,
David
