Financial advisor: ‘Choose carefully’ with whom you associate

Mike PeQueen, managing director/partner of HighTower Las Vegas, poses in his office in Henderson Monday, March 9, 2015.

HighTower Las Vegas, an advisory firm that focuses on financial planning, investment management, estate planning, business retirement solutions and philanthropic consulting, launched two and a half years ago and has quickly made a big impact in Southern Nevada. Mike PeQueen, managing director and partner, spoke with VEGAS INC about the firm’s quick rise to prominence.

Do you have any recent news or updates about yourself, your work or your company that you would like to share?

HighTower Las Vegas is now managing $685 million on behalf of our clients, which is pretty remarkable since it has only been two and a half years since my four partners and I founded the firm. I’m not sure everyone realizes that we are managing more assets than many local banks. Don’t tell the banks, please.

Who are your clients?

The individuals, families and businesses that are the backbone of the Southern Nevada economy. We manage investments for many business owners, physicians, attorneys and affluent retirees.

How did the firm begin?

My four partners and I worked for a large Wall Street firm for many years, and after the financial crisis, our clients told us they had lost faith in many of these institutions. The clients have consistently demonstrated a desire for a independent and objective financial advice. We knew we had to open our own office to satisfy their needs.

What is the best business advice you’ve ever received, and whom did it come from?

“The single most important decision you will make in the business world is whom to associate with. Choose carefully.” That came from an excellent finance professor at UNLV when I was getting my undergrad degree in finance.

If you could change one thing about Southern Nevada, what would it be?

I would move it farther from the sun in July and August.

What’s the biggest issue facing Southern Nevada or its residents?

We have to decide if we are going to take the education of our children seriously and, if so, how to pay for it. There are no easy answers, but this is crucial to our future.

What are you reading right now?

I just finished re-reading “To Kill a Mockingbird” as preparation for the new book Harper Lee will release this year, and now I am reading “The Small Big: Small Changes that Spark Big Influence” by Steve Martin and Noah Goldstein. I try to alternate between a fun read and a business book.

What do you do after work?

I work out since I have been talked into competing in a Tough Mudder race, and then I try to get together with friends at one of the many great restaurants that we have here in Las Vegas. My current favorite is Bardot Brasserie at Aria.

Blackberry, iPhone or Android?

IPhone 6 Plus, because size matters.

Describe your management style.

Half Capt. Kirk, half Mr. Spock.

Where do you see yourself and/or your company in 10 years?

I hope to be right where I am, with HighTower Las Vegas, managing $2 billion for our clients and enjoying every minute of it while spending weekends in Santa Monica.

What’s the most common finance mistake you encounter?

Easy. Taking on too much debt. Once your debt grows too high, you are almost destined to spend the rest of your working life servicing it. It is a vicious cycle.

What financial advice do you have for people?

Start saving early, buy shares of the highest-quality companies in the world … and hold them for the long term. That has been the secret to my own financial success.

What is your dream job, outside of your current field?

Adventure travel writer for National Geographic Traveler magazine.

Whom do you admire and why?

Stephen Hawking for continuing to push mankind forward despite his enormous physical challenges.

What is your biggest pet peeve?

Drivers on the open road who think the left lane is for driving on cruise control instead of understanding that it’s the passing lane.

What is something that people might not know about you?

I climbed Mount Kilimanjaro several years ago and lost 10 pounds in the process.

Anything else you want to tell us?

As a native Nevadan, I am very pleased that Southern Nevada continues to recover from the Great Recession and I believe that our best days are yet to come.

Tags: The Sunday
Business

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