In July, four of those clients increased the amount of assets that Piedmont would manage, in total about $170 million. Then $5 million from Amalgamated Transit Union Local 788 pushed Piedmont to $1.029 billion in assets under management.
“The investment business is based on trust,” says Green. “The most important criteria to have, to give your money to somebody to invest, is trust. That means you have to believe that their investment strategies make sense and that they have the expertise to carry them out successfully.”
Additional reporting by Mashaun D. Simon