Peter Haglin is no stranger to the investment industry. He’s served two decades as a client. Another 16 years have been spent representing broker-dealers. Now, after much anticipation, Haglin is working solely for his clients.
Companion Port Management is a new stand-alone company. Haglin is the chief investment officer. On Feb. 24, the budding company received registration approval, meaning investors now have direct and local contact with an investment advisory firm featuring global expertise and perspective.
“By becoming a registered investment advisory firm, our purpose is to work in the best interests of our clients,” Haglin vowed. “Having lived and worked in multiple foreign locales, we are experienced in making the decisions that should result in clients’ global portfolios that can prosper in a challenging environment.”
The previous firm Haglin worked for — Morgan Stanley Smith Barney — was the result of the merger between Morgan Stanley and CitiGroup’s Smith Barney. Around 2008, both Morgan Stanley and CitiGroup found themselves in difficult financial circumstances due to their participation in mortgage-based securities.
CitiGroup chose to sell off its Port Angeles Smith Barney office before the merger. After the merger, the combined Morgan Stanley Smith Barney decided to focus on its larger offices in metro areas.
“So, even though the Sequim office had satisfied clients and was very profitable,” Haglin explained, “it was selected for closure this past December along with other smaller offices.”
Since Morgan Stanley Smith Barney’s Dec. 15 departure from the area, Companion Portfolio Management, Inc. has been preparing to initiate asset management advice to successful families, businesses and individuals.
For many investors, an important objective is maintaining purchasing power in the face of a potentially devalued dollar, according to Haglin. Consequently, Companion Portfolio Management is developing strategies to account for this possibility.
“I believe that one of the most significant, and difficult, challenges facing financially successful families is maintaining the purchasing power of their portfolios,” Haglin said. “We are in the midst of experiencing a dramatic devaluation of the dollar and consequently, portfolios should be structured and managed accordingly.”
From its Sequim office, Companion Portfolio Management’s focus is on developing discrete and appropriate advice specific to each investor’s situation.