Two former JPMorgan advisors launched an independent firm in October. Phil Scott and Jim Atwood left the bank to preserve their clients’ concentrated stock portfolios.
The pair built their practice around long-held positions in artificial intelligence stocks. Those bets delivered strong returns during the recent tech rally.
Now the strategy faces a tougher market. Volatility in AI-linked shares has tested the firm’s approach in recent months.
Scott and Atwood argue that selling would trigger large tax bills for clients. They say staying invested protects long-term gains.
The firm’s model depends on client trust and patience. Concentrated portfolios carry higher risk when a single sector stumbles.
Independent advisors often face pressure to diversify during downturns. Scott and Atwood have so far resisted that push.
Their bet remains unresolved. The coming quarters will show whether conviction pays off or costs their clients.
