Rick Vollaro joined Pinnacle in 2000 as a stock trader. In the years since, he has worn just about every hat in the investment team: trader, bond analyst, senior analyst, Chief Investment Strategist, and in 2013, was named Chief Investment Officer. (He was also made a partner of the firm.) Rick works closely with the other members of the investment team, and has the final say in portfolio construction.
Why do you use an investment team instead of a single manager?
We use an investment team by design. Superstar managers can be great… until they make a big mistake, or get hit by a bus. Our clients know that there’s an entire team of experts looking at every data point, and that their assets aren’t hanging on the decisions of one person.
How does Pinnacle make investment decisions?
If I were to sum up our approach, it would be that we’re a weight-of-the-evidence style shop. We don’t confine ourselves to looking at just one discipline, but look at them all — technicals, valuation, the business cycle, etc. — and we consider multiple factors in each category as well. Once we have that information, we go where the evidence leads us.
We’re not always going to be right. We just want to be right more than we’re wrong. And if we can be less wrong than most, we have a big leg up. We believe that’s the most effective way to invest the monies our clients have entrusted to us.
What interests you about investing?
Investing is like trying to solve a massive and complex puzzle, where the pieces are constantly moving. It’s tough and challenging, but when you get it right, it’s very gratifying. I think that’s what I like most about investing.