Small Business Spotlight: Brighton Securities
Think about investing like going to a casino.
Some people like to play the slot machines. Small investment, small risk, small reward.
Other folks prefer high-stakes card or dice games. Larger investment, larger risk, larger reward.
The point is, there’s no “one size fits all” approach. It’s the same with investing — except with investing, places like Brighton Securities exist to help guide you.
“We’ve been here for (nearly) 50 years. We’ve never moved from our original location,” said company CEO Jai Ramachandran. “We have the best advisers in the area. We have customized solutions for our customers.”
Ramachandran joined Brighton Securities in 2014 and succeeded Alexandra Conboy as CEO. She’s the daughter of George Conboy, who led the firm for years and is frequently seen in TV news stories about money matters. Ramachandran came from Oppenheimer Co., a Manhattan-based investment bank. He said the switch at the top came with “no riffs, no bad blood.” George Conboy remains on as chairman.
Brighton Securities was founded in 1969 by Marshall Levine and Alan Calderon with a half dozen financial advisers. They had all worked at large firms like Merrill Lynch but had their own ideas on how to run a financial-services business.
Services offered include financial planning, estate planning, setting personal-investment strategies, tax implications and, as a blanket term, corporate services. The bottom line is getting the most bang for your buck.
What’s key, Ramachandran said, is matching the client with his or her risk tolerance. That gets back to the casino analogy — how much of a gamble can you afford to take? But for heaven’s sake, Ramachandran said, try something. The interest on traditional savings accounts, a longtime staple for many, is a mere pittance.
“The number one mistake I hear, what I always hear, is ‘It’s too early for me to start saving,’ ” Ramachandran said. “It’s never too early. I also hear, ‘You have to be debt-free to start saving.’ You’re never going to be debt-free, if you have a mortgage or student loan. If you wait until you’re debt-free, you’re never going to start. You want to find an adviser based on comfort level with the overall strategy.”
Investments, of course, can fluctuate greatly depending on a variety of circumstances. One involves political policies, and with a new president entering the White House, there could be major changes. Ramachandran downplays the impact the leadership change will have on Brighton Securities’ clients.
“There are ups and downs in the economy all the time,” he said, citing examples like the Greek financial crisis and Great Britain’s decision to leave the European Union, or “Brexit.” As for the new presidential administration, “This is where everyone prognosticates. A good financial planner should weather you through those storms. There’s a reason the market reacts in such wide swings. Big institutional funds don’t know what to make of it. But not us.”
Brighton Securities again made the most recent list of the Democrat and Chronicle’s “Top Workplaces.” Ramachandran said the firm’s open-door policy plays a big part in achieving that recognition.
“We work hard to take employee feedback seriously,” he said. “The things that you can address, you have to. If you want a good workplace, you have to address it.”
Alan Morrell is a Rochester-based freelance writer
Brighton Securities
Founded: 1969.
Location: 1703 Monroe Ave., Brighton. Another office is at 212 E. Main St., Batavia.
Executives: Jai Ramachandran, CEO; Doug Hendee, chief sales officer; Danielle Wilkins, chief administrative officer; Michelle Fisher, chief compliance officer.
Employees: 42.
Website:www.brightonsecurities.com.