How This Investor Creates A Lasting Legacy With Smart Investments [5:00-10:03]
Because when you think about it, right, what is that song about, right? It's all about that one moment in time that you have to realize your dream and are you going to be able to fight through adversity, fight through self-doubt, to make it happen? Yeah. Right? Or you're going to, you know, lose yourself, give it all, leave it on the field. And so that's always been my anthem, interestingly enough, no matter where I've been in my career, I still look at every single day, every opportunity as that shot. And like Eminem, you know, that song was made because he was an aspiring rapper trying to get out of poverty. You know, don't let the suit fool you. There was a time in my life in which we lived in a house and we were all hovered around a gas oven in the morning to get heat before we got dressed for school. And so, you know, when you grow up like that, you know, you have that constant need to validate kind of what it is you're doing every single day because you fear ever having to go back, you know, and live that way. Yeah, most definitely. You walk into a fifth grade class, Jake, and they say, well, what did you do, Mr. Walfour? What do you tell this fifth grade class that you do? Remember, you're talking to a fifth grade class now. I make money. Right? But that's the way to get the attention. I make money. That is the way to get their attention. And that's what we do as asset managers. People give us money, and it's our job to make a return on capital on the money that they give to us. So I explain it to a fifth grader the same way I explain it to most of my parents' peers. And that is, my job is to make you money. And not only to make you money, to help you avoid losing money. Now, making money for a young person is very different to making money for an older person. Making money for a young person, I can take a lot more risk. I can get a lot more return out of the types of investments I might put in the portfolio. But doing that for an older person, I got to be concerned about kind of safety of the capital that they're putting at risk. And I like to say that there's a get rich portfolio, and then there's a stay rich portfolio. Younger people get rich portfolio, older people stay rich portfolio. I think I'm at that ladder part, so you know, that's why I have to keep you nearby sometimes. No, man, you're still in the get rich portfolio, or maybe it's a blend. That's what it is. Maybe it's a blend. I'm get rich and die trying. It's going to have to go have that. All right. I'm just trying to get rich. Listen, that's a perfect segue. I want you to take me inside of blueprint capital devices, because a lot of people may not know what an asset manager is. They may not know what an investment management company does, but I want you to explain it, right? And before I do, just make sure to get the, you know, details out of the way, discretionary regulatory assets under management, 360 million, it will report it in 2025, and that's funds that is attributed to the funds that you have, and non-discretionary regulatory assets under management for your firm 1.36 billion, and this is according to the SEC in March 2025. Any update there? No, those numbers are about right. Those are about right. They don't change that often, right? So started blueprint capital visors, myself and my co-founder, Carrie Pickett. It'll be 11 years ago in April. And, you know, we had both worked for other organizations, and we had both succeeded inside those organizations. But there's a reality to being a person of color on Wall Street is that your contributions somehow never equate to, you know, your compensation. And so, we made the decision at a point in our career that why continue to do this for other people, why continue to use our talents to enrich other people, why not do it for ourselves? And in the process, be able to do it our way, lead our own organization, hire the kind of people that we wanted to have in that organization. And then, we could also do something with the capital that we weren't able to do when we worked inside of these larger organizations. And that is recycle it back into our community, right? And that's one of the things I learned from my parents very on because they were entrepreneurs and had a very successful business. That you're able to solidify economically for your family everything that it needs. But you're also able to contribute to the local boys club, support the local little league team, help somebody who can't afford to pay for a funeral. You can do things, I call it the ripple effect, that make it far more impactful than just you sitting in an office every day, generating return on capital. And that's what we were interested in doing. And so when we talk about blueprint, we like to say, we're not just about profits, we're about people. We're about helping you make money, but we're also about making the world a better place.
{# E23 (Nick, ruling section 1 answer 10): quoting a bill or a court opinion works
the way quoting a news article works. Select a passage above and the same panel
opens: the passage goes to the official you choose, with this document's own
address as its source and its own type. #}