Armand J. Del Medico

The RMD Wealth Management Group has prospered by paying close attention to client values and delivering customized wealth management solutions to support client needs. Collectively, the practice boasts more than 100 years of market experience and some 200 clients. Last year, Research recognized the RMD Wealth Management Group as one of the "Top-Ranked Advisor Teams in America."

The Group's senior partners are Armand J. Del Medico and Jose M. Rivera. A third partner, David Maldonado, focuses mostly on creating and maintaining client portfolios. In addition to these three, the firm uses a 12-member advisory panel for market insights. The Group supports clients with three additional Customer Service Reps—their services being "very important and integral" to the group, Armand says—and other professionals in portfolio management and advanced planning, both inside and outside UBS Financial Services. If necessary, they also will look to outside professionals to provide specific insight.

So how has the group been faring in these times? Armand says the group has made continued progress despite the challenging environment, due to a series of sound decisions from both the practice management and client standpoints. Both Armand and Jose focus on entrepreneurs and executives, a group of investors that would benefit most from the services provided by long-term planning and wealth management. Lately, the RMD team has been taking action to address clients' key issues that have resulted from the volatile market—including reevaluating buy-sell agreements, reassessing portfolios from a trust and estate planning standpoint, implementing strategies to help accelerate wealth replenishment, and taking steps to help mitigate both personal and business taxes. It's all part of an approach to wealth management that focuses on clients' full range of financial issues, needs and values. "Our job is to help clients navigate the complexities that wealth creates, and to do so as their trusted advisor in the process," says Armand.

Part of accomplishing that mission in recent months has been to help clients deal with the psychological impact of the bear market, and the fear and panic it has created for many investors. To that end, last fall Armand and the team found themselves regularly calling clients on Sunday nights when bad economic and market news were released. "We talked to clients immediately about these developments; what they would mean to them, their money and their families; and that we were right there in it with them," he says. "That didn't stop the losses from occurring, of course, but being proactive and consultative demonstrated to our clients that we were doing all we could to help them through. That had a real impact and made them more comfortable as events unfolded."

By emphasizing a values-based approach and by insisting that resources and wealth be aligned with those values, the group provides a "big picture" alternative to an investment-oriented focus. This approach is further complemented by portfolio management that recognizes modern portfolio theory and asset allocation, but provides both flexibility and customization. According to Armand, the portfolios that the group runs have proved resilient thus far. He credits this to hands-on management in combination with a consultative and comprehensive approach to wealth management.

The emphasis on an entrepreneurial clientele—one that includes executives in the New York Tri-State area—is helpful as well, according to Armand, because such individuals understand and value the Group's entrepreneurial sympathies. For Armand this comes naturally enough, considering that before he focused on wealth management he was involved in a family-owned-and-operated sports agency business. He helped run the business in college and then conducted the business with his uncle after graduating. On his uncle's passing, Del Medico realigned the business and focused mainly on providing agency representation for overseas athletes.

As he became increasingly involved in the financial aspects of overseas sports, Armand began supporting his clients with various investment opportunities. In 1999, he joined Morgan Stanley's wealth management group, where he first met his now partner, Jose. "After developing a successful practice over a six-year period, Jose and I decided it would be a good idea to join forces, which we did in 2005," Del Medico notes. "We complement each other's strengths, and we've been able to build up a considerable business on behalf of our clients as a result."

Jose—named a top financial advisor by Registered Rep in May 2006 and by Research in 2008—had made planning and wealth management his career since joining Morgan Stanley in 1986 as a Financial Advisor. He became Assistant Branch Manager of the World Trade Center Headquarters Office in 1993. He has successfully completed the Wharton School of Business' Senior Consulting Program and has been designated a Certified Investment Management AnalystSM.

Armand is a Certified Financial PlannerTM, a graduate of the Wharton School of Business' Senior Consulting Program and a Certified Investment Management Analyst. He credits his success to "delivering a holistic and consultative wealth management approach to the client relationship supported by research—a unique style central to our business development practice."

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