Pictured: (left to right) Robert M. Simon, Melissa Caldwell, Mark A. Dennis & Edward P. Schmitzer
5011 Gate Pkwy., Bldg. 100, Suite 300, Jacksonville, FL 32256 • 904.398.2075 • rcawealth.com
What makes your practice different from the rest?
We are different in a number of important ways. For over 16 years, River Capital Advisors, L.C. (“RCA”) has been providing individuals, businesses, and institutions with independent, objective investment and financial advice on a fee only basis. Our only source of compensation is from our clients, which is the exception in our industry, not the norm. We are not affiliated with any broker or wirehouse. We are not stockbrokers and do not sell any financial products. We are financial fiduciaries to our clients which means we put our clients’ financial interests ahead of our own, a statement many others cannot honestly make. Finally, we are affiliated with the local CPA firm of Smoak, Davis & Nixon LLP and our experienced staff of CPAs and CFP® practitioners have expertise in investments and financial planning as well as income and estate tax planning, allowing us to assist our clients in all aspects of their financial lives.
Who is your ideal client?
Our ideal client is one who wants a customized investment and financial plan to address their unique financial goals and objectives. Our clients want solutions and work with RCA for long-term, not short-term results. Our ideal client wants a truly unified approach to managing their wealth, where their investment and financial plans work together. Lastly, our ideal client wants a plan that achieves their goals with the least amount of risk so they can concentrate on the things that matter most—such as spending time with family and friends, not worrying about their finances.
What is your investment philosophy?
Because our only source of compensation is from the client we are truly independent, which allows us to select from the best investment managers and products available in the capital markets. We do not have any proprietary products. We “eat our own cooking,” meaning the owners and employees of the firm invest the majority of their investable net worth in the same investments as our clients.
Our investment philosophy centers on diversification by asset class to provide downside protection. We believe that diversification, not just owning many different stocks but different types of assets, tends to lower risk. We believe in value investing – price is what you pay and value is what you get. If an investment is purchased for less than its inherent or intrinsic value, we obtain a “margin of safety” and the potential for higher returns over the long term. We believe in taking cost into account when investing and will use a combination of active and passive managers when implementing our strategies. Finally, we believe that in the short run the markets are a “voting machine”, where fear and greed set asset prices too low or too high, but over the long term the market is a “weighing machine”, where the price and value of a financial asset converge. This philosophy allows for the preservation and growth of assets for the patient long-term investor.
Define the added value of your services in relationship to your fees.
The added value of our services is as follows:
1) Personal CFO–Our team members’ skill set and experience allow us to assist our clients in most areas of their financial life.
2) Financial Fiduciary–We have a legal and moral responsibility to put our clients’ interest ahead of our own.
3) Independence & Open Architecture–Our advice is objective and not influenced by factors other than what is best for the client, allowing us to access the best investment and financial products for our clients.
4) No Product Sales–Our goal is to help our clients and their families attain their goals. The growth of our firm is based on client satisfaction and word of mouth referrals. Superior client service is our primary marketing effort.
Do you offer financial planning?
We offer financial planning services both within the broader context of the services we provide to our wealth management clients or as a separate service through our affiliated CPA firm, Smoak, Davis & Nixon LLP.
Edward P. Schmitzer, CPA/PFS, CFP®, President
For more than 30 years, Ed has provided comprehensive wealth management services to a variety of clients, particularly in the areas of investment advisory, estate and income tax planning and retirement planning. In addition to his role as a practicing partner of Smoak, Davis & Nixon LLP, he is the founder and president of River Capital Advisors, L.C. Ed is a Certified Financial Planner practitioner (CFP®), a licensed Certified Public Accountant (CPA) and a Personal Financial Specialist (PFS) through the American Institute of Certified Public Accountants (AICPA). He holds a bachelor’s degree in accounting from Fairleigh Dickinson University. Ed enjoys spending time with his family, serving on charitable boards and traveling. He is an avid Jacksonville Jaguars fan and season ticket holder.
Melissa L. Caldwell, Client Services Specialist
Melissa has been a professional in the fields of banking, finance and financial services for over seven years. In her free time, Melissa enjoys the beach, reading, art and spending time with her family.
Robert M. Simon, CFP®, Wealth Manager & Research Analyst
Rob has been providing financial planning and security analysis for more than five years. He is a Certified Financial Planner practitioner (CFP®) and holds a bachelor’s degree in finance from the University of North Carolina at Charlotte with honors in business. Rob enjoys spending time with his family, hiking, concerts and traveling.
Mark A. Dennis, CFP®, Wealth Manager
Since 1997, Mark has offered clients financial advice and wealth management from a variety of vantage points, including securities brokerage, insurance, banking, and as an independent financial advisor. He is a Certified Financial Planner™ professional with a master’s degree in personal financial planning, and he is a college-level finance instructor. An active member of Rotary International, Mark is married with three daughters, and he enjoys travel, fishing, and kayaking, while also making time to pursue a doctorate in business administration (DBA).