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Article: Peterson Investment weathers storm with conservative tack
- Article from:
- Journal of Business
- Article date:
- July 30, 2009
- Author:
CopyrightCopyright Northwest Business Press Inc. Jul 30, 2009. Provided by ProQuest LLC. (Hide copyright information)
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There's no question that right now is a difficult time to be in the wealth-management business, says longtime Spokane in-vestment adviser John Peterson.
"We are reliant on new business, and we're not seeing that," says Peterson, who launched Peterson Investment Management Inc. here in 1977 and now runs the firm with his son, Robb. "Whatever you want to make of this (economy), it's not a tasty pie."
Still, Peterson says he's confident in the firm's prospects, saying its 32-year focus on practicing conservative money-management strategies tends to calm its well-heeled clients.
"Our clients are already wealthy, and they know stocks provide the best results, but rule No. 1 is, 'Don't lose the ...