Like so many others I was surprised to hear that my friend Eduardo Repetto and Pat Keating have started a new firm to compete with DFA. Perhaps the added competition will benefit advisors and their clients, who knows? When reading the news I had time to reflect on my years building the Advisor business at DFA, and all the success we had making a difference for so many investors.
In my opinion, the only serious mistake I made was hiring Pat Keating who had very different ideas regarding what DFA’s relationship should be with financial advisors. Perhaps Pat’s ideas would have been better and now he will have a chance to prove it. DFA owes so much to the advisors who contributed a great deal to our success and in my opinion Pat failed to appreciate that.
I did however make some great hiring decisions. I believe everyone acknowledges the talent and ethics of people like Dave, Bryce, Brad and Mark just to name a few. They have continued to make DFA a great firm long after my departure.
3 responses to “COMPETITION??”
Dan – Thanks again for the tremendous support that you, Bo and the entire Dimensional team have provided us over the years and for all your efforts aimed at advancing the advisor business while assuring our clients a great investment experience.
Tnanks Jeff It means a lot coming from you
In 2006, I attended my first DFA conference in London. You were present. I remember it very well because since then, our clients live a great investment experience. I would like to thank you for all those years of satisfaction as a financial advisor.