In 2008, Laurence Balter was awarded by Reuters as one of America's Top Advisors for 2008. His career is a real American business success story.
He was raised that learning, dedication, a good education and hard work, anyone can succeed in any economic environment, as entreprenuers and business owners are resilient positive minded people.
Laurence fell in love with investing and aviation early in life, and with his own money earned while washing airplanes, he learned to fly at age 15. While in a high school Economics class, students were to partake in a stock picking contest. As is often the case most kids picked the hottest stocks talked about in the media, but Laurence had a knack early on for what he called a "predisposition of not overpaying", so he looked for a company that had good products, a strong balance sheet and was highly undervalued. He was the only student in the class to pick RCA in the Spring of 1986, which at the time was trading at $25 per share. In the Fall of 1986, GE purchased RCA for $66.50 per share, more than doubling his investment. Laurence was instantly hooked.
After receiving his B.Sc. in Physics from the University of California, San Diego, he found his calling was finance rather than science, and landed his first job as financial analyst for Hawaiian Airlines at the age of 21. This experience launched his quest into the complex financial and tax issues associated with airlines and heavily regulated industries.
Armed with knowledge and ambition, he ventured on his own to start a regional airline in Los Angeles. With very humble beginnings, and a rented Cessna, he flew tourists to the Grand Canyon. Fast forward 8 years later and Laurence built Sunshine Airlines into the largest solely owned commercial regional air carrier based in Southern California. He operated 15 commuter aircraft, and became the primary subcontractor freight operator for FedEx and UPS in the region.
While embarking on this growth path, Laurence made an opportunistic lasting connection with the fairly well known, but not yet household name of Warren Buffett. Mr. Buffett was a big influence, as that relationship was noted in the December 1997 issue of Fortune Magazine as an early shareholder.
Laurence's ever increasing curiosity of all things financial and taking complex issues into simple understandable concepts led him to delve into comprehensive financial planning and authoring of his book, "The Power Portfolio" in 2003. Simultaneously building the the #1 producing independent investment advisory family wealth practice for LPL Financial (based on total revenues 2008) on the Hawaiian islands. His civic duties include an appointment by Governor Linda Lingle as Transportation Commissioner overseeing the largest operation in the State. He also made time to pursue his other interests as former Board of Director of the Honolulu Symphony. Laurence balances it all by maintaining true to core values and beliefs of family, good health and having a passion for his pursuits.
Today, Laurence is a noted speaker on Hybrid Pension Plans and Quantitative Finance. He speaks often to CPA's, financial advisors and small business owners. He often flies his own plane (a Cirrus SR22) to various locations across the country to conduct speeches and client visits. It allows Laurence to enjoy his passion for flying with his vocation.
Balter Wealth Management has a unique approach to financial, estate planning and tax planning to help achieve your life long goals by maintaining high standards, and asking questions to solve financial issues.
Laurence is an active member of Angel Flight, a non-profit organization dedicated to transporting patients in his own personal aircraft from small towns to receive medical care at major hospitals. He is also a member of Chabad of Tacoma and Hawaii.
As a boutique firm, Laurence chooses to serve fewer clients that appreciate quality and attentive lifetime advice and a more personal approach.
He holds Series 7, 24,63 and 65 registrations and the AAMS (Accredited Asset Management Specialist) designation.
Most Recent Media Recognition
Pacific Business News® "Forty under 40" 2008
Hawaii Business Magazine® Top 20 Financial Advisors 2008
Reuters® America's Top Advisor 2008
Angel Flight - Laurence Balter flies children with cancer to hospitals