Robert Reidy is a senior financial litigation consultant for Bates Group specializing in issues related to suitability including alternative investments; limited partnerships, private equity and structured products. Robert began his career in 1977 as a Financial Advisor at Merrill Lynch in Houston, Texas. He has spent the last 23 years at UBS as a Sales Manager, Branch Manager, Complex Manager and as an Executive Director. Prior to that he was a Senior Vice President and Limited Partner at Oppenheimer + Company for seven years.
While Robert's career started in an era of commission sales of stocks and bonds he became very involved in alternative investments when he joined Oppenheimer. Oppenheimer at that time was a private partnership owned by a private equity firm, Odyssey Partners. It encouraged and attracted talent which ran money on an incentive fee. When Robert joined PaineWebber in 1994 (which was acquired by UBS in 2000) alternatives were in their infancy but growing. UBS was the second largest alternative money manager in the world at that time. Part of Robert's job was educating Financial Advisors on alternatives, including hedge funds and structured products, on why they made sense in an allocation, when they were suitable and how to present them to clients. It quickly also became the main part of Robert's job to present to High Net Worth individuals, Ultra High Net Worth individuals and Institutions on why alternatives made sense and which alternatives made sense in their allocations.
During the market turndown 2007-2008 Robert was the Executive Director in Boston and became a major contact for the firm's clients. He regularly did 3-7 meetings per day with Financial Advisors and their clients on subjects including troubled products, such as auction rate preferreds, as well as financial planning, capital markets, fee based products and Security Backed Lending.
Over his 39 years in the Financial Services business Robert has seen the business evolve from selling product to comprehensive advice and soon to fiduciary advice. He has seen his role change from sales to one of education and consultation both of Financial Advisors and clients.
UBS Financial Services (formerly Paine Webber), 1994 - 2017
Oppenheimer and Co., Houston, Texas, Financial Advisor, Sales Manager, Senior Vice President, Limited Partner, 1987-1994
Boston College, Chestnut Hill, Massachusetts, Major: Finance with honors, Minor: Tax Accounting, 1977
2007 Member of the UBS Financial Planning Advisory Council
1997 PMP Certified
1996 PaineWebber Directors Council
1995 PaineWebber Equity Institute
Series 3 – National Commodity Futures Examination
Series 5 – Interest Rate Options Examination
Series 7 – General Securities Representative Examination
Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)
Series 24 – General Securities Principal Examination
Series 63 – Uniform Securities Agent State Law Examination
Series 65 – Uniform Investment Adviser Law Examination
Bob Reidy is an Expert Witness who has nearly 40 years of financial services industry experience as a Financial Advisor, sales manager, branch manager, complex manager and state manager. Mr. Reidy has front-line experience in the energy sector as a financial planner and consultant for energy executives.
Since beginning his career as a Financial Advisor in Houston, TX, Mr. Reidy has been through oil and gas booms and busts. He has sold limited partnerships in both exploratory and development well projects (both for major firms and for independents), investments in acreage and wells at various risk/reward levels, and has also sold and supervised investments in both equity and debt in energy, including: stocks, bonds, MLPs, managed futures, long/short energy hedge funds, energy mutual funds and oil commodity contracts.
In addition to extensive prospectus review for energy structured notes, Mr. Reidy has led research calls with energy analysts to estimate the risk-adjusted returns of the investment. Such research would form the basis for deciding on the suitability and degree of concentration in energy for a client’s portfolio.
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