Veritable combines with Pathstone to create a best-in-class advisor to UHNW families Read
(In Trillions)
Treasury
Index Price
Michael Stolper forms a new investment organization and adopts a mission of providing advice that is free from the traditional conflicts that existed between himself and his clients. He develops custom client investment policies based on a thorough understanding of each client's unique personal and financial circumstances and after-tax modeling of asset allocations.
World // Red Bull is launched and the U.S. Stock market plunges in the biggest crash since 1929.
Dow Components // Coca-Cola and Boeing Company replace Owens-Illinois Glass and Inco Limited.
Veritable employs index mutual funds for domestic and developed international equity markets.
World // Law & Order premiers; President: George H. W. Bush is elected 41st President of the United States.
Veritable begins outside money manager due diligence.
Veritable first employs outside hedge funds in client portfolios.
World // Seinfeld premiers. A magnitude 6.9 earthquake strikes San Francisco.
World // The USSR collapses and the Berlin Wall is torn down. Iraq invades Kuwait and the U.S. Launches Operation Desert Storm.
Veritable reports after-tax portfolio returns on a client-by-client basis.
Dow Components // Caterpillar Incorporated, Walt Disney Company, and J.P. Morgan replace Navistar International Corp., USX Corporation and Primerica Corporation.
World // President: Bill Clinton is elected 42nd President of the United States; Microsoft launches Windows 3.11 for Workgroups, an integral part of the emerging client/server computing evolution.
Veritable employs a portfolio of long/short small capitalization equity managers in client portfolios.
Veritable expands its due diligence effort and begins hiring long/short international equity managers on behalf of its clients.
World // North American Free Trade Agreement (NAFTA) is signed into law.
Dow Components // American Telephone & Telegraph changes its name to AT&T Corporation.
Veritable locates to 25 acre campus in Chester County, Pennsylvania.
World // DVD is launched by Sony, Phillips, Toshiba, Panasonic.
Veritable formalizes in-house fixed income portfolio management and begins negotiating separately managed accounts with hedge fund managers.
Dow Components // Travelers Group, Hewlett-Packard Company, Johnson & Johnson and Wal-Mart replaced Westinghouse Electric, Texaco Incorporated, Bethlehem Steel and Woolworth.
Veritable utilizes exchange traded funds in client portfolios.
World // Russian debt crisis begins. Long Term Capital Management collapses. Google is launched; Seinfeld finale airs.
Dow Components // Travelers Group changes its name to Citigroup Incorporated.
Veritable launches a proprietary system that reports after-tax returns vs. after-tax benchmarks by asset class.
Dow Components // Aluminum Company of America changed its name to Alcoa Incorporated. Microsoft Corporation, Intel Corporation, SBC Communications and Home Depot Incorporated replaced Chevron Corporation, Goodyear Tire & Rubber Company, Union Carbide Corporation and Sears, Roebuck.
World // First Blackberry model is introduced.
Veritable introduces customized tax-efficient index portfolios.
World // Tech Bubble bursts, S&P 500 peaks at 1527; President: George W. Bush elected 43rd President of the United States.
Veritable employs a collection of distressed debt managers on behalf of clients.
World // Terror Attacks on U.S. soil; Enron collapses.
Veritable launches a Lehman Brothers Aggregate Bond index tracking portfolio.
World // Circulation of the Euro begins; Worldcom collapses.
Dow Components // J.P Morgan merges with Chase Bank to form J.P. Morgan Chase. Minnesota Mining & Manufacturing changes its name to 3M Company.
World // The second Iraq war begins.
Dow Components // Philip Morris Companies changes its name to Altria Group.
World // Facebook launched; President: George W. Bush elected to a second term. The Red Sox reverse the curse.
Dow Components // American International Group Incorporated, Pfizer Incorporated and Verizon Communications Incorporated replaced AT&T Corporation, Eastman Kodak Company and International Paper Company.
Veritable employs a collection of domestic long/short equity managers that run highly concentrated portfolios.
Veritable employs a collection of distressed debt & LBO managers for its clients.
World // Twitter launched; Ben Bernanke succeeds Alan Greenspan as Chairman of the Federal Reserve.
World // Apple introduces the original iPhone.
World // The housing bubble bursts and the Great Recession begins; President: Barack Obama elected 44th President of the United States.
Dow Components // Kraft Foods Inc. replaces American International Group Inc.
Veritable launches an opportunistic alternative private equity research effort focused on market dislocations.
World // The U.S. government spent about $50 billion to bail out General Motors Corp.
World // After peaking at over $145/ barrel in 2008, crude oil prices touch $35/barrel before rebounding
Veritable invests in distressed debt fund.
World // Law & Order Finale airs. European sovereign debt crisis, Part I begins.
Veritable invests in opportunistic global real estate fund.
Veritable invests in collateralized loan obligation fund (CLO) and European distressed debt fund.
World // European sovereign debt crisis, Part II.
Dow Components // UnitedHealth Group Inc. replaced Kraft Foods Inc.
Dow Components // The Goldman Sachs Group Inc. replaces Bank of America Corp., Visa Inc. replaced Hewlett-Packard Co., and Nike Inc. replaces Alcoa Inc.
World // The market for crude oil collapses.
Veritable invests in land banking fund and begins evaluating direct outside manager seeding opportunities.
Dow Components // Apple Inc. replaces AT&T Inc.
World // NASA’s New Horizons spacecraft becomes the first human made device to fly past Pluto on its way to the Kuiper Belt.
World // Britain held a referendum resulting in a vote to “Leave” the European Union.
Archean Capital Partners, a joint venture between Veritable and Moelis Asset Management, closes on its first $100 million anchor investment.
Dow Components // DuPont merges with Dow Chemical under the name DowDuPont.
Veritable clients invest in Archean’s 2nd fund, which provides anchor capital to middle market private equity managers.
Dow Components // Walgreens Boots Alliance, Inc. replaces General Electric Company.
Dow Components // DowDuPont spins off DuPont and is renamed Dow Inc.
Dow Components // Amgen, Honeywell and Salesforce.com replace Pfizer, Raytheon, and ExxonMobil.
in 2023
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