Money maker | A conversation with Barry O'Brien, founder of O'Brien Asset Management LLC in Eliot.

Founded: September 2007â&Copy;
Employees: Noneâ&Copy;
Startup costs: $5,000â&Copy;
Projected revenue, year one: $75,000â&Copy;
Projected revenue, year two: $150,000â&Copy;
Contact: 457-0346 â&Copy;
382 Goodwin Rd., Eliot 03903â&Copy;
www.obrienam.comâ&Copy;
What do you do at O’Brien Asset Management?â&Copy;
I’m an independent investment advisor and I’m also a certified financial planner, so I get structured portfolios for people, give them advice as they work towards retirement or planning for any other kind of goal. I don’t have a specific client in mind, but the people who would benefit most from my services would be small-business owners for their own investments — and also to set up their company-sponsored retirement plans — and working professionals who don’t have the time or the wherewithal to manage their own investments. â&Copy;
What made you decide to start your own company?â&Copy;
I worked in New York for large banks, investment banks, for almost 20 years, and my wife and I decided to make a life change. When we tried to move up from New York, we wanted a more rural setting. We’ve vacationed in Maine quite a bit — we’ve been skiing at Sugarloaf with the kids for the last seven or eight years over February vacation, and we’ve rented houses in Kennebunk a couple summers in a row. We were just really attracted to the area.â&Copy;
How do you market your company?â&Copy;
Most of it is word-of-mouth. That’s been the most difficult part of my business. I’ve done some newspaper advertising, I joined the chamber of commerce, different networking groups — just trying to get out there as much as possible and get my name out there.â&Copy;
How has the current economic climate affected your business? Are people flooding in to get help or have they just taken their money out of the market?â&Copy;
Well, you’re seeing a bit of both. Hopefully, none of my clients are in the position where they’re going to be taking their money out of the market, because one of the big things I do — because I work individually with my clients — is express to them that this is a normal cycle. The market does go up as well as down, and if we’ve built the right long-term plan, then this a natural part of the cycle. We’re just going to reallocate it and take advantage of it, rather than panic and take all our money out. â&Copy;
Have you seen an increase in baby boomer clients seeking retirement planning?â&Copy;
A good percentage [of my clients are] people who are planning for their retirement. They want to see where they stand and figure out if they can really retire when they want to retire, how much money they’re going to have to save. I design a plan for them to get there as seamlessly as possible. â&Copy;
The whole baby boomer [demographic] is moving to retirement, and a lot of them are not positioned the right way. I want to get myself in front of that and put myself out there as an authority on people who are planning to retire.â&Copy;
How did you finance your company?â&Copy;
I prepared for it. You know, as I said, I didn’t just quit my other job and start this job. I was doing consulting as I was setting up my practice and getting everything lined up. I gave myself a two-year time table to get my business up and running, and so far I’m sticking with that timetable, so I’m pretty encouraged. I also hope within two years, if my business develops enough clientele basis in the Maine area, then I would probably hope to open an office outside of my home when my business reached a level where it’s justified.â&Copy;
Have you seen a positive response from Mainers?â&Copy;
Yes, definitely. I think this area is underserved in terms of certified financial planners and financial planners. I mean, [the] Portsmouth area and the Portland area certainly have the main branches — your Merrill Lynch’s, your UBS’s — and they’re certainly serving those areas. But I think for clients who are investors and not simply stock pickers or day traders, they certainly want someone who has more experience and gets the one-on-one level of service you get from a smaller investment advisor. When I deal with clients, they deal with me on every aspect. â&Copy;
Interview by Stephen Doaneâ&Copy;
New Entrepreneurs profiles young businesses, 6-18 months old. Send your suggestions and contact information to editorial@mainebiz.biz.â&Copy;
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