Several years ago I was recruited by Ryland Sumner for private wealth and investment advisory services. Brown Advisory was described as highly reputable and I was under the impression I would receive thoughtful investing guidance using the latest investment technology. I entrusted Ryland Sumner particularly and was told that he would provide direct oversight of my account. What I soon realized is that he was nothing more than a salesman who was looking to sell very specific products on commission. I was interested in sound investing that would provide reasonable returns over the long term. I was not interested in his incessant salesmanship and his attemtps to force feed me specific equities. As it turns out out, this was the high margin move for him. I eventually buckled under the pressure and made a substantial investment in a few of the stocks he claimed were “safe” but high yield products. Suffice it to say, over the next few months I lost a significant amount of my funds following Ryland Sumners directives. The SEC should also know that he tells his clients that his “well connected family” is providing him w unique information that he is then purveying to recruit clients. I told him repeatedly I did not want to get involved in any scheme that involved inside or asymetrical information – that I was looking for the analysis and sound strategic investing advice I was promised. At any rate, it was a complete nightmare working with Ryland Sumner. I still have faith in Brown Advisory but closed my account nonetheless as I did not want to get involved with a firm that had advanced Ryland as they did and wanted to preserve what was left of my funds.
This review (Brown Advisory) was originally published at Skeptic Files.
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