Brad Reifler Continues the Family Trading Tradition
Starting in January 2014 with the founding of the Forefront Income Trust, Brad Reifler has tried to help ordinary Americans in the financial middle have the same opportunity to invest as accredited investors. Learn more about Brad Reifler: http://www.prnewswire.com/news-releases/financial-expert-brad-reifler-explains-the-truth-surrounding-the-new-film-money-monster-300270830.html
He started out after graduating from Bowdoin College, but he already had a foot in the door in the financial services and trading community because his grandfather Ray E. Friedman started Refco in 1969. And his uncle was Thomas Dittmer, a legendary commodities trader there for over three decades.
Therefore, Brad Reifler naturally started out at Refco, and quickly became a star trader for the famous firm.
However, Reifler wanted to go out on his own, to prove to his family and the world he could succeed in the world financial markets on his own. Therefore, in 1982 he left Refco, starting Reifler Trading Corporation. That firm sold global derivatives. In 2000, Reifler sold it to Refco.
According to Bloomberg, Brad Reifler had already started another trading firm, Pali Capital, in 1995. In its heydey, Pali Capital received over $1 billion in revenue. It had 250 employees in its offices in the United States, Austria, Singapore, Latin America and the United Kingdom.
He remained CEO of Pali Capital until November 2008. He felt honor-bound to resign after uncovering extensive evidence that his business partners and other principles in the firm were operating without integrity.
At one point, Reifler’s father-in-law asked him for help in managing his retirement investments. After looking over the man’s investments, Brad Reifler realized he could not help his own father-in-law as well as he wanted.
The reason was that although his father-in-law had worked hard all his life, been thrifty and saved up a sizable nest egg, he was not an accredited investor. This prevented him from being able to invest in private placement investments like the truly wealthy do.
And his case is not unusual. Many middle-class Americans don’t qualify as accredited investors, so they’re barred from the biggest opportunities.
Crunchbase revealed that Brad Reifler sought to overcome this obstacle on behalf of his investors in his Forefront Income Trust.
Therefore, instead of trying to make the very rich even wealthier, Reifler is trying to close the gap between the middle class and the wealthy.