TOP FINANCIAL ADVISERS
A pair of shoes inspired Marc Foster.
As a kid growing up in La Mirada, he said he recalled his uncle having the nicest pair of shoes he’d ever seen. After finding out his uncle was a stockbroker, Foster said that’s what he wanted to be.
Foster now has $600 million under management at the Newport Beach office of UBS Financial Services. He has 200 households as clients, with average wealth of $5 million to $10 million.
Many of his clients got rich selling businesses. Their goals often are to replace the income they had while working at their businesses.
Growth of family fortunes through planning and investing are at the core of Foster’s practice.
He uses two main strategies: actively managing investments and investing in stock indexes. The strategy has brought him one of his best years ever in 2007, he said.
His actively managed accounts handled by professional firms have brought a 24% return this year, Foster said.
His holdings in index funds saw an 18% return, thanks largely to investments in emerging markets.
Foster said he also buys more real estate-backed municipal bonds than anyone else in the county.
He likes them for their better returns over traditional bonds, and says they’re overlooked because they’re not covered by credit agencies such as Moody’s Corp. and Standard and Poor’s.
Bonds for the Newport Coast area are his favorite. Foster said he sees little risk in default with the area’s wealthy residents.
Foster claims to have rarely lost a client. He said his focus always is on what they want.
“You gotta give these people the Disney approach, make them happier for having talked to you,” he said.
Foster is married with a daughter and son. He enjoys golf and yachting.
8. Marc Foster
– Company: UBS Financial Services
– Location: Newport Beach
– Years in business: 28
– Education: bachelor’s degree, California State University, Fullerton
