Advisory Board

1st Global and its affiliated partners are advised and supported by some of the greatest minds of the last century through a special advisory board.

As advisors and consultants to the 1st Global, these advisors use their experience and business acumen to help guide 1st Global’s strategic decisions, formulate knowledge capital and create proprietary research on portfolio analysis, economics and CPA firm succession that can then be shared with the company’s CPA wealth management firms and its firms’ clients. The advantage of the advisory board is another reason why 1st Global believes its affiliates are some of the most informed and well-educated wealth managers in the country.

Dr. Arthur B. Laffer

Chairman, Laffer Associates

Dr. Arthur B. Laffer’s career has been marked by experience and success in business, in public policy, and as an academic economist and professor.

Dr. Laffer joined 1st Global in 2010 as an economic advisor to the 1st Global Investment Committee and as a consultant to the company’s executive management. Dr. Laffer provides commentary and analysis regarding the current economic environment and its real-world business and market implications. He consults with 1st Global management to evaluate the impact of regulatory and federal tax policy changes on business and global capital markets.

Dr. Laffer's economic acumen and influence in triggering a world-wide tax-cutting movement in the 1980s earned him the distinction in many publications as the “Father of Supply-Side Economics." He is also known for the Laffer Curve, an illustration of taxable income elasticity that asserts that, in certain situations, a decrease in tax rates could result in an increase in tax revenues. In 2015, this discovery was included in Bloomberg Businessweek’s list of 85 disruptive ideas that changed the course of history during the magazine’s existence. Dr. Laffer is the founder and chairman of Laffer Associates, an economic research firm that provides global investment-research services to institutional asset managers, pension funds, financial institutions and corporations. Laffer was a member of President Reagan's Economic Policy Advisory Board for both of his two terms (1981–1989), a member of the Executive Committee of the Reagan/Bush Finance Committee in 1984 and a founding member of the Reagan Executive Advisory Committee for the presidential race of 1980. He also advised Prime Minister Margaret Thatcher on fiscal policy in the United Kingdom during the 1980s.

Harry M. Markowitz, Ph.D.

Nobel Laureate, Father of Modern Portfolio Theory

Dr. Harry M. Markowitz is a Nobel Laureate and the father of Modern Portfolio Theory, which studies the effects of investment and portfolio variability, return, and correlation.

Famous for his work in economics, Markowitz has made equally significant strides in the field of technology. He was awarded the prestigious Von Neumann Prize in Operations Research Theory for his work in portfolio theory, sparse matrix techniques and the SIMSCRIPT programming language. Dr. Markowitz was given the "Man of the Century" award in 1999 by Pensions & Investments for his life's work in the field of investments. He currently divides his time between teaching as an adjunct professor at the Rady School of Management at the University of California at San Diego and consulting. 

In 2010, 1st Global announced Dr. Markowitz as an advisor to 1st Global’s Investment Management Solutions (IMS) investment committee and consultant to the company’s executive committee. In this role, he incorporates his fundamental work in Modern Portfolio Theory to advise 1st Global on the development of asset allocation models, innovations on risk and return measurement, investment strategies, usage of leveraged and illiquid investments in efficient portfolios, research papers relevant to independent financial advisors, and more.

Markowitz' latest work, “Risk-Return Analysis,” opens the door to a groundbreaking four-book series, offering readers a privileged look at the personal reflections and current strategies of a luminary in finance. This first volume is Markowitz's response to what he calls the "Great Confusion" that spread when investors lost faith in the diversification benefits of MPT during the financial crisis of 2008. It demonstrates why MPT never became ineffective during the crisis and how one can continue to reap the rewards of managed diversification into the future.