About Destry Witt
Destry Witt, of Vancouver, Washington, is the President and Chief Investment Officer for RELiANCE Investing, an independent, state registered investment advisor. From aspirations that begun as a child watching his father make real estate deals on the dining room table, then as a business student at Southern Oregon University in Ashland, Oregon, Destry has built himself into a successful financial services entrepreneur over the last 30 years.
Beginning with his undergraduate studies in Business Administration, at SOU, Destry joined the Stock Market team and started an internship with US Bank that evolved into a position as a marketing assistant that provided him the experience necessary to land a job at then one of the largest brokerage firms on Wall Street, Dean Witter Reynolds. At Dean Witter, Destry learned the business the hard way, competing for a position in the firm without the benefit of the firms elite training program.
During this time Destry recognized the demand from the investing public to participate in Initial Public Offers, a market which was previously limited to primarily institutional brokers and their institutional clients such as hedge funds and mutual funds. An opportunity came to light to become involved in the pending Starbucks deal in 1992. A regional brokerage firm from Florida reached out to Destry with the offer of stock in the Starbucks deal should he join their firm. From there, Destry realized that he would be able to turn his career into an independent state and has never looked back.
During his MBA graduate program at Washington State University, Destry began to further expand on his career. He began to think how companies would differentiate themselves from their competition and he decided that his companies would be based on how individuals make their decisions.
With the financial services industry becoming more and more supported with technology, Destry Witt understands the importance of being able to compete on price. The increased evolvement of technology and the Internet has nearly phased out the commission aspect of the financial services industry. Destry believes that if you’re not competing on cost, you’re simply not competing.
Increased government regulations have encouraged lower fees and prices for different services as well as a mandate that took away incentive for companies to provide liquidity. Where a company lacks in liquidity, they see a spike in volatility. In 2018, there were two 20% corrections that occurred within a few weeks of each other compared to 20 years ago where those corrections would have taken months to happen. This increase in government regulations combined with ever-evolving technology leads the future of financial services to be nearly all AI driven with computers buying and selling at indiscriminate prices.
As a result, Destry created products through his businesses that solve a very specific problem that investors encounter. Essentially, potential clients and customers are able to search for the problem that they’re trying to solve, similar to a Google search. This helps keep the personal touch of an investment advisor thriving without phasing out the inevitable technology that is seemingly required in the daily operations of the financial services industry.
To learn more about Destry Witt’s entrepreneurial spirit, insights, perspectives, and views on the future of the financial services industry, be sure to check back often for the latest news and updates!
- RELiANCE Investing (Founder)
- Southern Oregon University (BS Business Administration)
- Washington State University (MBA Business)
Keys to Designing an Effective Business Website
Every business owner has their plate full, but it’s never too much effort to review the efficiency of their website. An effective business site is crucial, especially for businesses dealing in e-commerce, and ensuring that the site is functional and aesthetically appealing will be key.
The Importance of Social Media for Entrepreneurs
Social media has taken over the internet in a personal and widespread way. In particular, it is a handy tool for businesses and companies trying to get off the ground. For 2020, let us take a very close look at the importance of social media for entrepreneurs.
How is Entrepreneurship Changing
At one time, starting your own business was only for the most serious risk-takers among us. Even some of the bravest and most innovative entrepreneurs have tried only to fail. Fast forward to today and you’ll find that a successful entrepreneur is born every minute. So, what has changed? Here’s how and why entrepreneurship has changed so much in the 21st century.
Organization Tips for Entrepreneurs
For entrepreneurs, staying organized is absolutely crucial. If you do not have strong organization skills, your entire business can easily crumble. Here are some tips for entrepreneurs on being organized.
5 Common Risks to Acknowledge for First-Time Entrepreneurs
Entrepreneurs understand that there are inherent risks involved with what they do. However, entrepreneurs also know that, as with any investment, where there is risk, there is opportunity for success. Understanding the kinds of risk that await entrepreneurs as well as how to best prepare to face them can help make the process of starting and maintaining a business more successful.
How to Create a Business Plan
If you’re looking to open your own business, the first step of any successful venture is to create a plan. A business plan allows you to know exactly where your funds and resources are going, as well as how you are going to achieve your goals. However, crafting a successful business plan can be tedious, and therefore mistakes are made. Fortunately, there are ways to narrow down your company’s business plan where it can play the role of an asset. Thus, the following list includes a few ways to create an effective business plan.
How to Delegate Effectively
As the owner of a business, learning how and when to delegate tasks can make a significant impact on your personal and entrepreneurial success. While some entrepreneurs operate under a common misconception that they must handle a majority of the business responsibilities themselves, the truth is that effective entrepreneurs are able to determine the best practices for trusting their employees and partners and delegating select tasks to make the most of everyone’s time.
A Brief Guide For Managing Businesses In Multiple States
Operating businesses in different states presents its own set of challenges, though it is certainly doable. In fact, most businesses hope to grow enough that they can expand into different states and therefore generate more revenue and renown. The following guide will cover the basics of what every business owner in this situation should know.
Helpful Advice for Entrepreneurs Branching into a New Industry
As an entrepreneur, change is a constant in your line of work. Sometimes, branching out to a new market is essential for both business and personal growth. While it’s a bold move and it can result in growth and profit, the transition can be fraught with complexities if not properly planned. Here are four tips that can help you branch out into a new industry.
Finding the Industry for Your Next Startup
The best time to launch a startup is now, but choosing the right industry can be a challenge. For most entrepreneurs, the most lucrative field is the most appealing, but there’s much more to it. For starters, passion alone can not keep a business afloat, but profit that is only short-lived because of trends will ultimately lead to a startup falling flat in a few years.
The information on Destry Witt’s website is intended for residents of the United States. This information is not intended to be personalized. This site is for informational purposes only. Nothing contained here should be construed by anyone as an invitation or solicitation to buy or sell any investment. This site does not contain personalized legal, tax, investment, or advice.