LOTT SHETH FARBER WEALTH MANAGEMENT GROUP
UBS Financial Services, Inc.
On September 15, 2008, the DOowW fell 504 points, and took another 449 point449-point dip just two days later;, and on September 29th,the twenty-ninth the DowOW dropped another breathtaking 7787 points, shaking people's faith in the economy and grinding American spending to a halt.
Following the crash, from October 2008 to March of 2009, the bottom fell out on the job market as over 3.2 million jobs were lost. The housing market was next as most Americans were caught financially exposed and couldn't pay their mortgages.
Jobs are on the rebound now. The market is recovering nicely, and real estate is gaining value again. Once again we are all getting comfortable.
Aside from national financial crises like the crash of 2008, anyone can be caught in personal financial crises at one time or another;, such as the unexpected loss of a job, loss of a loved one, a lengthy health crisis, or an accident that disables you from working. These all have the ability to tax a family's resources.
Landing on your feet following an economic crash or a devastating life event is not the result of luck. It is the result of tactical planning. Expecting the unexpected and preparing for it is part of what it takes to successfully navigate the troughs of life.
In downtown Birmingham, Michigan, next door to Fleming’s Steakhouse and around the corner from the Google office is UBS Financial Services, Inc. Partners Anthony Lott, CFP, CIMA, CRPC;, and Sidhdharth Sheth, CFP, CIMA, CRPC; and Diane Farber, CFP, CIMA, have over 80 eighty years of combined financial and wealth management experience. Harkening from diverse backgrounds and bringing a wide variety of talents to bear, each of these partners has much to offer in the way of collaborative financial planning, and they have had great success navigating the past two decades of economic volatility.
“The media has done a great job of making people believe that they can manage their money without any professional help,” states Anthony Lott. For the average American, nothing could be further from the truth. The modern financial landscape is complicated. A depth of education, experience, and living through enough market fluctuations is needed in this environment to provide accurate risk profiling and wise navigation of financial matters is needed in this environment.
There is an important distinction between a stock brokerstockbroker and a wealth management advisor, as Lott clarifies,: “We look at wealth management holistically. Our phone calls to clients are to find out what’s going on in their life to make sure we are on track with their circumstances—, not to tell them to buy or trade GM stock today because it’s a good deal.”
Lott articulates, “We have a client who owns a home he built in Traverse City. He always tells his visitors that this is the house that Tony and Sid built. We really do help people build their dreams. That is our job.”
The Lott Sheth Farber Wealth Management Group is a boutique service group of UBS financial services group, the largest wealth management fund in the world. Lott Sheth Farber has direct access to the power and reach of UBS global resources at its fingertips.
There is no shortage of financial advisors, and no manager is equally skilled in all asset classes or styles. Because different styles produce different portfolio profiles, performance of these portfolios will vary considerably under the same market and economic events, which makes choosing the right one important. On the other hand, you don’t have to choose the right one when you choose the right team. The team of Lott, Sheth, and Farber gives you the added value of multiple expert perspectives, skills, and asset styles.
This is not an ordinary partnership. Tony Lott, Sidhdharth Sheth, and Diane Farber work seamlessly together, as any good team should, and they look forward to collaborating to produce the best tailored recipe for each client’s portfolio. Each of the three partners has different areas of interest and expertise whichexpertise, which present as complementary skills providing clients with a full spectrum of strategies, services, and perspectives. Tony Lott, Sidhdharth Sheth, and Diane Farber have a deep respect for each other, and place unequivocal trust in each other’s judgment.
It is immediately clear that this team works well together. What is also immediately obvious about this team is how they truly enjoy each other’s company. The smiles and laughter between them is comfortable and infectious. Their professional deferment to each other’s strengths is seamless and balanced. Levity comes easy to all three.
Diane Farber, Partner
Diane Farber, a financial planner since 1993, joined her partners in UBS Financial Services in 2010.
“This is my third career. I changed careers at age 40forty,” shares Farber. Formerly a teacher, she then got her master’s degree in social work from the University of Michigan, and became a family clinician for many years before diving into financial planning.
“I genuinely enjoy my clients,” she sparkles. “I can interface my background as a teacher who can provide education and support to help people to become financially independent.”
Diane Farber is a passionate advocate for educating women in financial matters. She sits on the bBoard of tTrustees for the Detroit Historical Society as well as the Detroit’s Music Hall Center for the Performing Arts. She is on the board for the Art Alliance for Contemporary Glass, a national organization of contemporary art glass collectors worldwide. Farber beams as she talks about being a grandmother, hiking, and traveling. Her last trip was a safari to Botswana.
Sidhdharth Sheth, Partner
A graduate of Groves High School in Birmingham, Michigan, and the University of Michigan mechanical engineering collegeCollege of Engineering, Sidhdharth (Sid) Sheth entered the financial industry in 1989. An internship in mechanical engineering helped him realize that he was not interested in engineering.
Sheth is married with three young daughters, and serves as a bBoard gGovernor at Cranbrook Schools. He enjoys snow skiing, water skiing, and scuba diving. Charming and quiet, Sid Sheth listens intently and is soft spoken with a warm smile. This belies his devilish wit and dry sense of humor. Sheth enjoys the networking aspect of his work.
Quoting Theodore Roosevelt,: “The client doesn’t care how much you know until they know how much you care,” shares Sheth. This mantra rings true in his business. “The value that I bring to my team is relationship building. I love the prospecting and meeting new people.”
Anthony Lott, Partner
Diane and Sid both give Tony Lott solid recognition as the designated strategist on the team.
Lott believes that sharing physical space and stories is very important to investing in the actual person. “Sometimes I struggle with the whole social media thing,” shares Lott. “To me, it is important to meet people face to face to really know and understand them.” Considering that approximately 55% or more of communication is delivered through nonverbal elements, Lott is probably on the right track with pushing for person-to-person contact with his clients.
Discussing whether it is wise for people to invest assets with more than one advisor, Lott offers his insights, “Folks who think they should not have all their eggs in one basket believe they need to diversify. They do need to diversify, but not ‘de-worsify’. You wouldn’t have two or three coaches independently running your team—t. That would be confusing and counterproductive.” Lott makes the argument that it is smarter to have all your money with one management team. This provides a full bird’s-eye view of your wealth with no duplication, omission, or overlap of services.
Before beginning his career in finance in 1987 with Merrill Lynch (where he met Sid Sheth), Tony Lott started as a pharmacist. He is a graduate of Southfield Lathrup High School and a University of Michigan of M graduate, as well. He has been married to his wife, Pam, for 32 thirty-two years. Lott is an avid cyclist and has participated in Make-A-Wish rides for 13 thirteen years, raising over $130,000.00 for them. He enjoys good wine and rowing on Orchard Lake, and took 2nd second place in his first regatta in Ohio last year.
The Team
When asked how the firm has attained its success, Lott shares, “We align our compensation with our client’s portfolio performance. We base our fees on our client’s assets, and if we are any good at what we do and those assets grow, we are all successful. If our client’s assets go down, our business goes down with it. But our success is not just predicated on their portfolio performance. It is based on our good service that is directly related to our client’s happiness and satisfaction. We get new business from referrals, and our client’s success is the only thing that brings in that new business.”
Performance is a word that has so many meanings. Lott, Sheth, and Farber agree that understanding a client’s goals and risk tolerance is vital when establishing their portfolio.
Sheth points out, “Performance is personal. It means something different to everyone.”
For everyone, trust needs to be earned, and the connection with the right team to empathize and accurately analyze the client’s position is important. This wealth management group offers professional services through the vast resources of UBS as well as the depth of experience and human capital of their financial advisory team members, Tony Lott, Sid Sheth, and Diane Farber.