Another local startup financial firm has left the West End for Shockoe, and this one has a goal of launching a $25 million mutual fund by February.
It’s been a year since Shawn Gibson took the leap to leave BB&T and start his own investment management company, Gibson Volatility Management.
“Now I have all the pieces in place,” said Gibson, who is the firm’s president and portfolio manager.
Gibson is joined by Chris White, who left Wachovia Securities after it moved from Richmond to St. Louis.
GVM is looking to differentiate itself from other investment management firms by employing a strategy that relies on a complicated use of options to help try to insure against declines in the market.
“The old buy-and-hold approach of investing in equities just isn’t going to work anymore,” Gibson said.
GVM’s primary clients will be investment advisers and wealth managers that are looking for alternative ways to invest their client money.
“We don’t compete with wealth management firms,” he said. “We hope to be a solution for them.”
The company will also take on individual investors who can come to the table with at least $1 million in assets.
But smaller scale investors can buy into the pending GVM mutual fund for $2,500. The fund will be the real bread and butter of GVM, and Gibson is looking to launch it with $25 million in assets.
The company will charge a 1 percent management fee, which it feels will also help it compete against the bigger firms.
In mid-September, Gibson finished raising just under $500,000 worth of working capital that will help pay the bills as GVM tries to grow its revenue and create its mutual fund. Its sources of revenue will be managing individual investor accounts, the mutual fund and consulting services
“That capital will go a long way over the next couple years,” Gibson said. ETFs, instruments that invest in stocks of an entire industry rather than just one company in a specific industry.
An Indiana native, Gibson, 39, began his career trading options on the floor of the Pacific Exchange in San Francisco. He came to Richmond in 2000 and wanted to start something similar to GVM back then. But he decided he looked too young and didn’t quite have enough money to get it going at the time. He then ran the options desk for Scott & Stringfellow, gaining experience, some extra money and a few gray hairs so he looked the part.
“This is not on a whim,” he said. “I have a lot of skin in the game.”
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
Another local startup financial firm has left the West End for Shockoe, and this one has a goal of launching a $25 million mutual fund by February.
It’s been a year since Shawn Gibson took the leap to leave BB&T and start his own investment management company, Gibson Volatility Management.
“Now I have all the pieces in place,” said Gibson, who is the firm’s president and portfolio manager.
Gibson is joined by Chris White, who left Wachovia Securities after it moved from Richmond to St. Louis.
GVM is looking to differentiate itself from other investment management firms by employing a strategy that relies on a complicated use of options to help try to insure against declines in the market.
“The old buy-and-hold approach of investing in equities just isn’t going to work anymore,” Gibson said.
GVM’s primary clients will be investment advisers and wealth managers that are looking for alternative ways to invest their client money.
“We don’t compete with wealth management firms,” he said. “We hope to be a solution for them.”
The company will also take on individual investors who can come to the table with at least $1 million in assets.
But smaller scale investors can buy into the pending GVM mutual fund for $2,500. The fund will be the real bread and butter of GVM, and Gibson is looking to launch it with $25 million in assets.
The company will charge a 1 percent management fee, which it feels will also help it compete against the bigger firms.
In mid-September, Gibson finished raising just under $500,000 worth of working capital that will help pay the bills as GVM tries to grow its revenue and create its mutual fund. Its sources of revenue will be managing individual investor accounts, the mutual fund and consulting services
“That capital will go a long way over the next couple years,” Gibson said. ETFs, instruments that invest in stocks of an entire industry rather than just one company in a specific industry.
An Indiana native, Gibson, 39, began his career trading options on the floor of the Pacific Exchange in San Francisco. He came to Richmond in 2000 and wanted to start something similar to GVM back then. But he decided he looked too young and didn’t quite have enough money to get it going at the time. He then ran the options desk for Scott & Stringfellow, gaining experience, some extra money and a few gray hairs so he looked the part.
“This is not on a whim,” he said. “I have a lot of skin in the game.”
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
He said he has skin in the game… He’s not kidding. Lots of sleepless nights on that guys face.
This is exactly what investors need to help control volatility.
Glad to see the entrepreneurial spirit come back to Shockoe Slip!
This scares me. Gibson’s credentials lack substance, and his approach to investments seems suspect. It’s fine to be an entrepreneur with his start-up company, and I wish him success. However, too much has been lost by investing with those who’s experience is questionable, and to place $1 million with this type of manager is nothing short of a leap of fate.
I don’t see what’s so questionable. A guy that has more than 15 years experience as a professional investor-trading options; is surrounding himself with smart people who have previously run billions of dollars, and has outside capital from investors (stakeholders he must be accountable to) that believe in the concept…that sounds pretty legit to me.
Just keeping score here on an oldie but goodie: Dave M and Bill win. JD clearly loses.