Profile of the Week

Michael Sadoff, investment advisor, Sadoff Investment Management LLC

Name: Michael Sadoff

Title: Investment Advisor

Company: Sadoff Investment Management LLC

Family: Wife. Julie; and children Justin (age 7); Jordan (4); and Samantha (2)

City of Residence: Mequon

What’s new at your company? "We are celebrating our 30th year in business since my father, Ronald Sadoff, founded the firm. Now myself, father and brother, Bryan, manage approximately $400 million. Last fall my father was named by Barron’s as one of the top 100 Independent Investment Advisors in the country (and the only one in Wisconsin). Also, with the stock market down 20 percent over the past nine months, many people hesitate to ask me how business is going. In fact, we have already added more clients in the first six months of 2008 that we did all of 2007. Since we have a successful long-term track record when the stock market falters many people are looking to either change advisors (since many advisors have no sell strategy) or hire an advisor to stop managing their own funds. Relative to the stock market we are having a very good year."

What are the most interesting issues you work with clients on? "Retirement planning. Many brilliant people – doctors, lawyers, etc – struggle when having an idea of what level of investments they need to retire. I really enjoy helping and educating clients and getting them on the right path with their investments."

What is the most difficult or challenging project you’ve been involved with? "I started with the firm about two weeks after the market peaked in 2000. For my first three years the stock market fell in half from top to bottom. Fortunately with our conservative strategy our firm was positioned well and the market tumble ended up being a net positive for our firm."

What was the funniest moment of your career? "We had a pastor as a client who asked about a stock that was in his portfolio that had recently doubled in value. He asked what they did – which was make slot machines. He was embarrassed and thought out loud that as a pastor should he be invested in this sort of company? He then said, ‘Well, the stock is doing well. I guess it is OK if I make money off of the stupidity of others.’ Once he left the office, we laughed that had the stock not been up so much he would have certainly asked us to sell it. Behavioral finance at its finest."

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