Bob DeWitt, CPWA, CIMA, RICP
Vice President – Investments
CERTIFIED FINANCIAL PLANNER™
Phone: 512.338.8021
Email: Bob.Dewitt@wellsfargoadvisors.com
Before embarking on my career as a financial advisor, I began my career in technology, working for both Apple Computer and Dell Computer. I worked hard, did well and steadily progressed up through the ranks.
Life was great. My wife and I enjoyed financial stability, home ownership and good health. We both volunteered at several non-profits. I also pursued my passion for endurance sports and raced in 14 Ironman triathlons. We worked hard, played hard and gave back.
However, my success at work led to my overconfidence in how I managed our family's finances.
As you might imagine, a blend of ignorance, arrogance, and finances can yield a volatile mix.
I made multiple financial mistakes. I neglected to create a systematic diversification plan for my stock options and restricted stock units, resulting in a concentrated position that lost value during a market downturn. In the middle of the 2000 tech crash, I impulsively sold our investment portfolio at the market low, locking in significant losses. I continually procrastinated in applying for life insurance, which proved costly when a heart condition rendered me ineligible. To compound the situation, I opened two coffee houses as a side business that turned out to be a financial mess.
I remember looking back on the financial train wreck that I had created in almost disbelief. Despite working hard and diligently saving, my wife and I had relatively little to show for it. It became abundantly clear that I lacked the essential financial knowledge to make well-informed, prudent, long-term decisions on how to build and preserve tax-efficient wealth.
Well, the anguish from financial remorse can be pretty powerful.
I was driven by a desire to fully understand what I should have done as well as to help others from making similar uninformed financial mistakes. So, I made a major career change. I became a financial advisor, focusing on helping families navigate the challenges of retirement, first with Merrill Lynch and then with Wells Fargo Advisors.
I did not want to be some salesperson. Rather, I wanted to comprehensively learn from the finest minds in the field. So, year after year, I studied at night and acquired four different financial designations. I worked with the top academic professors in the areas of investment management, tax-reduction strategies, retirement income planning, estate planning, and liability management. This educational foundation has enabled me to 'see around corners' and understand the crucial integration of taxes, investments, and planning—and the unforeseen consequences that occur when they aren't aligned.
Frankly, I love what I do; I don't go to work, I go to play.
My goal is to help 1,000 different families navigate the challenges of retirement. I'll provide a free retirement consultation for just about anybody, whether they ever become a client or not. Helping clients experience the joy of a secure retirement is not just my profession; it's my true passion and the driving force behind my purpose in life.
Bob's Designations and Education
• CERTIFIED FINANCIAL PLANNER™
The CFP Board of Standards
This certification is the standard in financial planning. With it, I carry the fiduciary obligation to act in the client’s best interests at all times when providing financial advice. This program covers the core principles of financial planning including insurance and risk management, investment management, tax planning, employee benefits, retirement planning and estate planning.
• CERTIFIED PRIVATE WEALTH ADVISOR (CPWA)
The Booth School, University of Chicago and certified by the Investment and Wealth Institute
This designation teaches the complex financial solutions needed for affluent clients. It covers tax planning, portfolio management, risk management and asset protection, charitable giving and endowments, estate issues and wealth transfer, planning for executives, planning for closely held business owners, and retirement management.
• CERTIFIED INVESTMENT MANAGEMENT ANALYST (CIMA)
Wharton, University of Pennsylvania and certified by the Investment and Wealth Institute
This comprehensive program teaches advanced portfolio management skills, portfolio construction, strategy formation, financial analytics and risk management techniques.
• RETIREMENT INCOME CERTIFIED PROFESSIONAL (RICP)
The American College of Financial Professionals
This certification specializes in retirement income planning. It focuses on how to advise retirees and near-retirees on the best ways to use the assets they have for retirement to live comfortably, within a realistic budget and not run out of money prematurely.
• B.A. in ECONOMICS
UC Santa Barbara
Life was great. My wife and I enjoyed financial stability, home ownership and good health. We both volunteered at several non-profits. I also pursued my passion for endurance sports and raced in 14 Ironman triathlons. We worked hard, played hard and gave back.
However, my success at work led to my overconfidence in how I managed our family's finances.
As you might imagine, a blend of ignorance, arrogance, and finances can yield a volatile mix.
I made multiple financial mistakes. I neglected to create a systematic diversification plan for my stock options and restricted stock units, resulting in a concentrated position that lost value during a market downturn. In the middle of the 2000 tech crash, I impulsively sold our investment portfolio at the market low, locking in significant losses. I continually procrastinated in applying for life insurance, which proved costly when a heart condition rendered me ineligible. To compound the situation, I opened two coffee houses as a side business that turned out to be a financial mess.
I remember looking back on the financial train wreck that I had created in almost disbelief. Despite working hard and diligently saving, my wife and I had relatively little to show for it. It became abundantly clear that I lacked the essential financial knowledge to make well-informed, prudent, long-term decisions on how to build and preserve tax-efficient wealth.
Well, the anguish from financial remorse can be pretty powerful.
I was driven by a desire to fully understand what I should have done as well as to help others from making similar uninformed financial mistakes. So, I made a major career change. I became a financial advisor, focusing on helping families navigate the challenges of retirement, first with Merrill Lynch and then with Wells Fargo Advisors.
I did not want to be some salesperson. Rather, I wanted to comprehensively learn from the finest minds in the field. So, year after year, I studied at night and acquired four different financial designations. I worked with the top academic professors in the areas of investment management, tax-reduction strategies, retirement income planning, estate planning, and liability management. This educational foundation has enabled me to 'see around corners' and understand the crucial integration of taxes, investments, and planning—and the unforeseen consequences that occur when they aren't aligned.
Frankly, I love what I do; I don't go to work, I go to play.
My goal is to help 1,000 different families navigate the challenges of retirement. I'll provide a free retirement consultation for just about anybody, whether they ever become a client or not. Helping clients experience the joy of a secure retirement is not just my profession; it's my true passion and the driving force behind my purpose in life.
Bob's Designations and Education
• CERTIFIED FINANCIAL PLANNER™
The CFP Board of Standards
This certification is the standard in financial planning. With it, I carry the fiduciary obligation to act in the client’s best interests at all times when providing financial advice. This program covers the core principles of financial planning including insurance and risk management, investment management, tax planning, employee benefits, retirement planning and estate planning.
• CERTIFIED PRIVATE WEALTH ADVISOR (CPWA)
The Booth School, University of Chicago and certified by the Investment and Wealth Institute
This designation teaches the complex financial solutions needed for affluent clients. It covers tax planning, portfolio management, risk management and asset protection, charitable giving and endowments, estate issues and wealth transfer, planning for executives, planning for closely held business owners, and retirement management.
• CERTIFIED INVESTMENT MANAGEMENT ANALYST (CIMA)
Wharton, University of Pennsylvania and certified by the Investment and Wealth Institute
This comprehensive program teaches advanced portfolio management skills, portfolio construction, strategy formation, financial analytics and risk management techniques.
• RETIREMENT INCOME CERTIFIED PROFESSIONAL (RICP)
The American College of Financial Professionals
This certification specializes in retirement income planning. It focuses on how to advise retirees and near-retirees on the best ways to use the assets they have for retirement to live comfortably, within a realistic budget and not run out of money prematurely.
• B.A. in ECONOMICS
UC Santa Barbara