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Destiny Wealth Partners Named InvestmentNews Inaugural Excellence Awards Finalist

 

We are thrilled to announce that we’ve been named among the inaugural InvestmentNews Excellence Awards finalists in the category of RIA Team of the Year (10 Advisors or More), following a rigorous judging process.

“This recognition highlights the incredible commitment and dedication of our team who strive to deliver an exceptional client experience tailored to the unique situations, goals, and aspirations of those we are privileged to serve,” said our Founder and CEO Tom Ruggie, ChFC®, CFP®.  “We are honored to stand alongside a special group of peers.”

According to InvestmentNews, “We’re recognizing the best of the best…and celebrating their talent, dedication, hard-work and innovation. We would like to extend our congratulations to all the Excellence Awardees, who have been selected as the stand-out nominees by our judging panel. Their achievements in wealth management have impressed the judges, and we look forward to celebrating their dedication to excellence at the awards ceremony in New York.” Destiny Wealth Partners is the independent RIA of Destiny Family Office, Ruggie Wealth Management, and Nichols Wealth Partners.

In 2023, Destiny Wealth Partners was named by InvestmentNews as one of the 75 Fastest-Growing, Fee-Only RIAs in the nation.

Finalists are selected based on their response to questions across a range of qualitative and quantitative criteria and performance metrics. According to Key Media, publisher of InvestmentNews, “The judging process, which is rigorous and independent, is conducted by an expert panel of industry leaders and senior representatives. It recognizes the significant work and achievements of the nation’s most outstanding advisory team for their excellence over the past 12 months in areas including client service and innovation.”

Winners will be announced June 20, 2024, at a black-tie event to be held at 583 Park Avenue in New York City.

 

Investment advisory services offered through Destiny Wealth Partners, LLC, an SEC Registered Investment Advisor. Destiny Wealth Partners also conducts business under the names Destiny Family Office, Ruggie Wealth Management, and Nichols Wealth Partners. Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Destiny Wealth Partners or its firms are engaged, or continue to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Destiny Wealth Partners by any of its clients. Rankings published by magazines, and others, may base their selections on information prepared and/or submitted by the recognized adviser or firm. 

Early Adopter Who Understands Collectibles

May 16, 2024
By Emily Douglas
InvestmentNews

Thomas Ruggie with Muhammed Ali’s boxing trunks worn during the ‘Rumble in the Jungle’ with George Foreman
Alternative investments are going to continue to play a key role, even for the mass affluent market. Destiny Family Office Founder and CEO Tom Ruggie knows this well. As a world-class collector of autographed baseball cards and sports memorabilia, one unique trend close to Tom’s heart is the interest in collectibles as an asset class. Read the full story here.

Tom Ruggie Tops Forbes Best-in-State Wealth Advisor List

Tom Ruggie Ranked No. 1 in North Florida
by Forbes Best-in-State Wealth Advisors 2024

7th time for independent RIA and Family Office Founder – every year since recognition’s inception

We’re excited to announce that Tom Ruggie, ChFC®, CFP®, founder and CEO of Ruggie Wealth Management and Destiny Family Office, both Destiny Wealth Partners firms, has earned the No. 1 spot in North Florida in the Forbes/SHOOK 2024 Best-in-State Wealth Advisors ranking. Ruggie has been included in this prestigious list of the nation’s top advisors for seven consecutive years—every year since the ranking’s inception. In 2023, Destiny Wealth Partners, which surpassed $1B in managed assets, was also recognized among Forbes 250 Fastest-Growing RIA Firms.

“We are honored to be recognized by industry leaders such as Forbes and SHOOK Research alongside an exceptional group of industry peers and professional colleagues,” said Tom. “Our rise to the top of the list of North Florida’ leading firms, is both humbling and a result of the dedication and commitment of our entire team. I couldn’t be prouder of them. I believe our ongoing presence in this annual ranking speaks to the depth and breadth of our capabilities, to our refusal to be complacent and to strive for the continuous self-improvement of our team, our services, our infrastructure and technology, and to our unwavering focus on putting our clients first in everything we do.”

Ruggie is an entrepreneur who enjoys spending his time helping clients solve problems inherent in their financial and business situations, and giving them back the time and peace of mind they need to pursue the things they are most passionate about.

He began his career in 1991, and subsequently founded Ruggie Wealth Management. In 2016, he founded Destiny Family Office to bring high-impact “single-family” office capabilities and services to his ultra-high-net-worth client families, helping these wealth creators, wealth inheritors and their families overcome the challenges that come from managing significant resources.

Destiny Family Office provides access to sophisticated traditional, alternative, direct, and co-investment management solutions. An avid collector, Ruggie has earned deepening prominence in the collectibles space, helping other top-tier collectors incorporate their collections in every part of their financial, tax and wealth transfer planning.

In 2023, Boca Raton-based Nichols Wealth Partners also joined Destiny Wealth Partners.

About Forbes and SHOOK Research: Forbes/SHOOK Research Best-in-State Wealth Advisors are selected based on quantitative and qualitative data, and are assessed on a variety of criteria, including interviews, years of experience, client retention, compliance records and assets under management. SHOOK “scours the financial services industry—advisory firms, banks, brokerages, custodians, insurance companies, and clearing houses, among others—for nominations”. To date, 44,990 nominations have been received. Of these, 23,876 advisors were invited to complete the online survey, 20,412 telephone interviews were conducted, 4,926 in-person interviews took place at advisors’ offices, and 1,507 virtual interviews were scheduled. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK Research receives a fee in exchange for rankings.

Recognitions are specific to Tom Ruggie, ChFC®, CFP®. Listing in any publication is not a guarantee of future investment success. These recognitions should not be construed as an endorsement of the advisor by any client. The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years’ experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes or SHOOK receive a fee in exchange for rankings. Barron’s rankings are based on factors including assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work.

Additional disclosures and important information at www.ruggiewealth.com/disclosures.

Wealth Beyond Numbers: “Significance of Wealth” Podcast Premiere

Founder & CEO Tom Ruggie, ChFC®, CFP® has launched a new  podcast titled “Significance of Wealth.” Join Tom as he delves into the evolving landscape of wealth management. In each episode, Tom explores independent thinking and tailored strategies that go beyond financial expectations, shedding light on alternative investments and private investments, addressing the unique needs of the ultra-high-net-worth, as well as the world of collecting as both a passion and investment strategy.

Check out the first episode, now available on Apple Podcast and Spotify.

Thomas Ruggie, CHFC®, CFP® Named To Barron’s 1200 Top Financial Advisors for 12th Time

Ruggie Wealth Management announced that Founder and CEO Thomas H. Ruggie, ChFC®, CFP®, has been named to Barron’s list of America’s Top 1,200 Advisors: 2024, the 12th time Ruggie has earned this distinction, and the 10th straight year.

As Barron’s explains, they publish their annual Top 1200 Advisors by State compilation to recognize advisors demonstrating exceptional professionalism, client service and community involvement. Among the factors the “Barron’s Top 1,200 Advisors” ranking takes into consideration are quality of practice, assets under management, revenues, and philanthropic work.

“It is an honor to again be ranked among our nation’s top financial advisors by one of the most respected names in the financial industry,” said Ruggie of the ranking which recognizes both an elite group of independent financial professionals and large wirehouses.

“I believe our clients turn to us because of our dedication to placing their interests above ours, for the strength of our processes and collective wisdom of our team, and for our unwavering focus on helping them achieve the financial goals they’ve been dreaming of and working for their whole lives. To once again be named among Barron’s Top Advisors is an honor that reinforces that what we are doing on our clients’ behalf brings real value to our relationship with them.”

Ruggie Wealth Management provides services to individual and corporate clients, as well as to a select group of endowments and foundations. As one of the flagship companies of Destiny Wealth Partners, Ruggie Wealth Management offers a broad range of services and products to help clients achieve their financial goals.

The firm has offices in Tavares, Winter Park and The Villages®, FL. Destiny Wealth Partners also conducts business under the name KCG Investment Advisory Services in Savannah, GA, and Nichols Wealth Partners in Boca Raton, FL.

The Barron’s Top 1200 Financial Advisors is a select group of individuals who are screened on a number of different criteria. Rankings are based on data provided by over 6,000 advisers from across the nation. Factors included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Portfolio performance is not a factor. Please see www.barrons.com for more information. Ruggie Wealth Management has not paid a fee to be eligible for this award. Barron’s does not require membership or payment in order for award participants and/or applicants to be considered for an award designation.

 

Investment advisory services offered through Destiny Wealth Partners, LLC, an SEC Registered Investment Advisor.

Destiny Family Office Named 2024 Family Wealth Report Awards Finalist for Third Consecutive Year

Prestigious Annual Award Recognizes Exceptionalism in Wealth and Investment Management 
Destiny Family Office, a Destiny Wealth Partners firm, has been named a finalist in the prestigious Eleventh Annual Family Wealth Report Awards in the Multi-Family Office category (up to and including $2.5 Billion in Assets Under Management/Assets Under Advisement) for a third year in a row. According to ClearView Financial Media, publisher of Family Wealth Report, independence, integrity, and genuine insight are focus areas for the judging process, which is conducted by expert panels that consist of judges from family offices, private banks, trusted advisors, consultants, and other professional service providers with deep industry experience.
“We are honored to have been recognized again and to stand alongside a special group of peers. We founded our firm with a mission and purpose forged by what we saw as an unanswered need in the marketplace: families seeking advocacy, compelling wealth and investment management capabilities and services, and consistent execution—without compromise. This recognition highlights the incredible commitment and dedication of our team who strive to deliver an exceptional client experience that is tailored to the unique situations, goals, and aspirations of those we serve,” said Tom Ruggie, ChFC®, CFP®, Founder and CEO of Destiny Family Office.
The firm works to help wealth creators, wealth inheritors and their families better navigate complexity and achieve peace of mind, by helping to protect what is most important to them and by helping position them for continued success and prosperity spanning generations.
Stephen Harris, ClearView Financial Media’s CEO, and publisher of Family Wealth Report, was the first to congratulate all finalists, “Every winning entrant has been subjected to a rigorous and independent judging process and should be rightly proud of the success they have achieved this year. These awards give organizations and individuals the opportunity to clarify their strategic thinking, have it independently validated, be recognized internally and externally and to celebrate in style with their peers. I offer my congratulations and best wishes for the future to all winners and highly commended firms—they are all worthy recipients who join the prestigious list of wealth management professionals who form the global elite of Family Wealth Report winners.”
Finalists are selected based on entrants’ submissions and their response to questions across a range of qualitative and quantitative criteria and performance metrics. The judging process is rigorous and independent. Winners will be announced May 2, 2024, at the Eleventh Annual Family Wealth Report Gala at the Mandarin Oriental in New York City.

Ruggie Wealth’s Morgan Hatfield Re-Elected to SECO Energy Board of Trustees

Ruggie Wealth Management Senior Wealth Advisor & Partner Morgan Hatfield was recently re-elected by SECO energy members living in District 9 to serve as their Trustee on the SECO Energy Board of Trustees. Voting took place during the District 9 meeting held January 30, 2024 at Spring Creek Elementary School in Paisley.

A SECO member since 2019, Morgan currently holds the position of Secretary/Treasurer of the Board of Trustees. She attained the Director Gold credential, which is the highest level of achievement through the National Rural Electric Cooperative Association.

SECO Energy is a not-for-profit electric cooperative operated for and owned by its members. SECO’s service area is geographically divided into nine Districts. One Trustee is elected from each of the nine Districts to represent their fellow members on SECO’s Board of Trustees. The Board meets monthly to monitor the cooperative’s financial status while providing fiduciary oversight and participating in policy decisions that serve the best interests of the membership at large.

“I want to thank all District 9 members for attending and showing your interest in participating as SECO members,” said Morgan during the District meeting. “I am eager to continue working with my fellow Trustees as we do our best to serve our members with an outstanding product supported by industry-leading service.”

Board President Gerald Anderson stated, “Congratulations, Ms. Hatfield, on your re-election as District 9 Trustee. I am grateful to the District 9 members who attended the Meeting and participated in our cooperative’s governance process. On behalf of our fellow Board members and peers, we are excited to support SECO Energy’s Mission and Vision through our Board service.”

Curtis Wynn CEO stated, “The Board of Trustees and the SECO Energy membership are grateful to all Trustees who give generously of their time and experience. We are very happy to have Ms. Hatfield continue with her leadership and strong contributions to the success of SECO Energy in her role as a Board Trustee and her expanded responsibilities as Secretary/Treasurer. Thank you, District 9 members, for your attendance at the meeting and your interest in SECO Energy and the strategic direction in which the board, executive leadership team and employees are taking your electric cooperative.”

Tom Ruggie Discusses Strategies for Tomorrow: Adapting to Trends in Wealth Management

In this episode of the What Matters Podcast, Thomas joins Mike and Ashley to talk about the rapidly changing landscape of wealth management, delving into the future of the industry, and exploring emerging trends and technologies. They also discuss the importance of embracing change, underlining the impact of AI on financial businesses, and shedding light on the shift towards alternative investments.

Collectibles Prove to Be a Solid Asset Class for Investors

Anyone with a passion for certain collectibles and the patience to wait for values to grow could see some strong returns.

BY THOMAS RUGGIE, CHFC®, CFP®
Dec 15, 2023

Your youthful passion may just help fund your retirement: Collectibles, sometimes misperceived as passion projects for slightly eccentric investors, have morphed into an increasingly solid asset class in their own right.

For those willing to invest the time — and more than a few dollars – in a category that appeals to them, collectibles are offering a new generation of investors an exciting place to put their money to work. And while watches, wines and baseball cards shouldn’t replace your IRA, those with the right mindset, time horizon and sufficient passion for the items being collected should find themselves with strong returns as well.

The values of sports memorabilia, vintage automobiles, luxury watches and even collectible handbags have all seen strong growth over the last several years, even as other markets have stuttered or fallen.

Spurred on by stuck-at-home Americans flush with idle cash, values in the collectibles market surged coming out of the pandemic, as some collectors rediscovered an old hobby, and others stumbled onto a new one.

Even as the market has slowed somewhat, the value of certain luxury collectibles have still seen a year-over-year growth of 7%, according to the Knight Frank Luxury Investment Index, while other more niche items — like collectible Lego sets — have seen increases of up to 11%, according to a study published in the Research in International Business and Finance journal.

Those gains are better than real estate and gold over the same time period.

But before using recent performance as a justification for buying yourself a $20,000 watch, here’s what some experts have to say about the collectibles market, where it’s going and what’s worth the price tag.

Nostalgia rules

Things that remind us of childhood are fetching remarkable prices at auction, whether its Rocky Balboa’s boxing gloves or the old muscle car you admired in the parking lot of your high school.

“Those high school students are now in their 50s and have the expendable income to buy the muscle car they had always wanted, and are not afraid to pay for it,” said Joe Sabatini, president of exotic car show organizer Festivals of Speed.

As a new generation becomes the power spenders, demand in the marketplace shifts. Certain cars from the ’80s are now able to fetch up to $200,000 — valuations that had been previously associated exclusively with cars from the ’60s.

Following the trend line of nostalgia, Sabatini has a guess for what class of vehicle will pop off next: vintage Japanese cars.

Keep liquidity in mind

One key to investing wisely in collectibles: liquidity. Unlike market-traded assets that can be turned into cash quickly, most categories of collectibles take significantly more time to transact. In addition, to maximize profit, sellers need to be able to authenticate and properly market their assets — both of which require preparation and advance notice.

“It’s important that potential investors don’t earmark more money than they should to an asset class like sports collectibles,” said Brian Dwyer, president of Robert Edward Auctions. “Certain pieces have an inherent illiquidity to them, and if they have to be sold in a rush, it can be disastrous for the investor.”

That means investments in collectibles should be understood as providing long-term returns. For items like art and car collectibles, things like ownership lineage and provenance can drive up values significantly. Generally speaking, the holding period for collectibles should be thought of in multiple years, not months.

Correlated to the economy — contraction ahead?

For investors new to the world of collectibles, one note of caution: Like most parts of the economy, the collectibles market isn’t immune to the impacts of rising interest rates. Most experts in the space expect some degree of pullback over the next year as soaring interest rates slow demand and auction houses cool from their post-pandemic booms.

According to collectibles research group Altan Insights, the quantity of six- and seven-figure auction sales fell between 30% and 36% year-over-year, respectively.

Of course, that doesn’t mean there won’t be continued demand for certain items. While last year’s record-breaking sale of a vintage 1952 Mickey Mantle baseball card may have been a high point for the market, a proven asset like a Mickey Mantle card will continue to pay off. In general, the market for vintage sports memorabilia has proven resilient: Six-figure sales for vintage sports memorabilia were up 14% year-over-year, even while overall six-figure sales were down 30%.

Where to begin

Because collectibles markets have been strong ahead of the recent economic stutter-steps, buyers need to exercise extra caution when wading in. Working through trusted sellers is important, especially when purchasing big-ticket items, but buyers should also be cognizant of various market forces at play.

Ron Varney of Fine Art Advisors, for instance, cautions buyers in the art market right now. “High valuations have opened the doors for more artwork to come into the market,” he said, “and a lot of that isn’t what we would consider ‘investment-grade.’”

Fundamentally, collectors finding success are those with a true interest — whether it be in art, sports, wine or any other focused area. Investors who have a passion for their collection are not only more incentivized to hold on to their goods, but they are also going to be less likely to get swept up in speculative hype.

The best downside protection of all may come from the psychic income a collector gets from owning something they love deeply. Said Festival of Speed’s Sabatini regarding a client who watched a Ferrari they purchased grow to a multimillion-dollar valuation: “I don’t think those owners purchased the car as an investment. It was just a pure love of what the car was.”

Collectibles aren’t an asset class suited to every investor, but those with a passion for a particular class of items and patient funds to invest can find the category offers strong returns in the form of both dollars and happiness.

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