Rick’s business career began at the early age of 14 when he traded antiques and collectibles. He scoured yard sales and attended auctions to search for anything with hidden value. Those items were resold to dealers directly and to the public through antique shows and swap meets. The money he earned help finance his undergraduate education.
Rick earned a Bachelor of Science in business administration from the University of Rhode Island, holds a Master of Science in finance from Michigan’s Walsh College where he also taught as an adjunct professor, and is a Chartered Financial Analyst (CFA) charterholder through the CFA Institute.
After graduating from college in 1980, Rick served on active duty in the US Marines. He received his Naval wings of gold in 1983 and flew fighter jets all over the world. Rick logged over one thousand hours of tactical flight time, which included landing aboard aircraft carriers. He also served in an infantry battalion as a forward air controller and deployed overseas with the unit. Rick retired from the Marines after twenty years combined active duty and reserve service.
Rick’s investment career began in 1989 as a broker at a traditional Wall Street firm. It was an exciting time. Rapid technological changes and sound central monetary resulted in an economic boom and surging stock market.
Rick learned a lot during the ten years he was employed in the brokerage industry. Unfortunately, the culture was not what he expected. Recognition on Wall Street was gained by exceeding sales goals rather than exceeding client expectations. Brokers were encouraged to sell products and services that had high commissions and fees, and to push securities the company was unloading from it’s own account. Rick’s research on the performance gap between investor returns and market returns showed this was not a winning strategy for his clients. It created an ethical problem for Rick and he considered leaving the industry.
Rick’s Aha! moment came in 1996 when reading John Bogle’s first book, “Bogle on Mutual Funds.” Bogle was the founder of the Vanguard Group and the de facto father of index fund investing. It was a pivot point in Rick’s career. He realized he was in the wrong industry and knew what he had to do. Rick decided to create a new company where clients come first. Three years later, that’s exactly what he did.
In 1999, in conjunction with publishing his first book about why people should avoid Wall Street advice and invest in index funds, Rick founded one of the nations’ first low-fee investment adviser firms. His ethos was to provide every client with full transparency and charge a fair fee for portfolio management services. The concept was highly successful. Assets under management grew to over $1.5 billion through Rick’s efforts and the hard work of a dedicated staff.
A difference in vision for the company led to Rick’s early retirement in 2016. His equity has since been acquired by the remaining shareholder and Rick has moved on to new opportunities.
A New Company
Rick’s new venture, Rick Ferri, LLC, renews focus on his vision to increase the awareness and use of low-cost passive investments in the US and internationally. He is actively seeking alliances with investment advisers, financial planners, fund companies, brokerage firms, technology companies, and other entities that have a similar vision. In addition, after a non-compete with his previous firm expires in April 2019, Rick will launch a new registered investment adviser (RIA) firm and personally advise a limited number of high net worth clients.
Interested parties should contact Rick to discuss these opportunities. Written information about Rick’s new advisory service will not be available until April 2019.
Books and Writing
Rick has authored six books, including All About Index Funds, All About Asset Allocation, The ETF Book, and The Power of Passive Investing. Moreover, he shares his broad expertise in a variety of media, including many financial and business publications, newspapers, blogs, and radio shows. Most notably, he writes for Forbes.com and is a key member of the Bogleheads “brain trust”, a community inspired by the philosophy of John C. Bogle, founder of The Vanguard Group of mutual funds. Rick also co-authored a research paper on index investing that won the S&P Dow Jones Indices 3rd Annual SPIVA Award.
Rick’s research and insight also appears frequently in such media outlets as the Wall Street Journal, Financial Times, New York Times, Barron’s, Money, Smart Money, Kiplinger’s, The Motley Fool, CNBC, Bloomberg and Fox Business. Furthermore, Rick is a nationally recognized speaker who presents regularly at industry and investor conferences. During these speaking engagements he discusses his investment philosophy and shares his “tight-fisted” strategy for capturing stock and bond market returns at a very low cost.