1964 Graduates Griffith McDonald and Larry Hastie Lead Retirement Income Solutions
June 3, 2010
June 3, 2010, Greencastle, Ind. — "R. Griffith McDonald and K. Larry Hastie had kept their separate practices for years even after they had joined forces as partners in Retirement Income Solutions Inc.," begins an InvestmentNews article on the 1964 DePauw University graduates. "But the decision to roll all their operations into one earned them the top position on the InvestmentNews Fast Movers list. Today, Retirement Income Solutions has about 685 clients and adds about $50 million a year in assets."
The story by Hilary Johnson notes, "The firm's partners, who met while students at DePauw University, started out on their own, said Mr. Hastie, who founded Pattern Recognition Management in 1990. Mr. McDonald had already set up shop as Integrated Financial Strategies in 1982. In 1992, they decided to go into business together because they knew many of the same people and had 'the same philosophy and the same investment approach,' said Mr. Hastie, now 67. He said he found that running a jointly owned business in addition to his own made it easy to decide how to serve clients the two advisers attracted together. But after nearly two decades of running their own firms and Retirement Income Solutions, the two decided that rolling them all up 'made sense, even if it was administratively challenging,' Mr. Hastie said."
Read more by clicking here.Back