Robert Duffy 9 a.m., Oct. 28
- Joined: June 12, 2013
- Gender: M
- Neighborhood: La Jolla
- Hometown: St. Louis, MO
- Occupation: Financial Advisor
- Website: http://www.eaglehilladvisor.com/
- Comments posted: 1 (view all)
- Last log-in: June 12, 2013 | See activity
Owner Eagle Hill Wealth Management July, 2002 to present.
This is a fee-only financial planning/wealth management/registered investment advisor firm located in La Jolla, CA (San Diego, CA)
Ombudsman FDIC 1995-June, 2002
Liquidation Officer FDIC 1990-1994
Vice President Southwest Bank, Vista, CA 1988-1989
Financial Advisor Merrill Lynch/Centrex Financial/NASD 1982-1988
Bank Examiner FDIC 1973-1982
B.S. Business Administration, Emphasis in Finance, General Business and Accounting, University of Missouri, Columbia, Missouri.
Registered Investment Advisor, State of California
Recipient of FDIC Special Performance Award Certificates for five years in a row. Five FDIC outside courses in Conflict Management/Facilitation/Mediation
Eagle Hill Wealth Management is an independent advisory/wealth management firm. Eagle Hill is a Registered Investment Advisor and offers clients help in attaining current life-living goals. Eagle Hill makes a great effort to try and determine what the client really wants from the company. We specialize in clients who want an advisor who will become their confidential guide through what can be a confusing group of options. We pride ourselves on understanding the problems and opportunities in the financial services industry. We are dedicated to serving our clients' needs.
Knowledge gained by 21 years with the FDIC which included 9 years as a Commissioned FDIC bank examiner in the Midwest ending in 1982, then starting in 1990, 1 year as Investigator with the old FDIC DAS Investigations department, 3 years as an Account Officer in Commercial Loans with FDIC DAS, and 8 years as an Ombudsman (including time before it was a separate Office). I do receive a retirement check from the FDIC/OPM. Private sector experience includes Vice President of Commercial Loans (Branches), with loan approval authority, at headquarters for a multi-branch San Diego County bank that was bought by Security Pacific National Bank. Other private experience includes Stockbroker (Account Executive) and Certified Financial Planner with Merrill Lynch, and also examined brokerage firms for the NASD. Have served on charitable boards including on the board of a national charity that performs medical research.
Another area that I have an extremely in-depth knowledge is the area of securities. I have been told that I was one of the few "Liquidation" people in the FDIC that were listed as having a good securities background in 1992, based on the employee surveys that were prepared while I was in Liquidation. Besides being active personally since an early age in buying stocks and options, my resume includes being trained by Merrill Lynch to be a stockbroker, and working as a Merrill Lynch stockbroker for 2.5 years, acquisition of the Certified Financial Planner designation and 1.5 years as a NASD examiner of investment firms. This knowledge was put to use in January of 1992 when I was placed in charge of liquidating the investment portfolio of a $350 million dollar bank, Independence Bank, Encino, CA. The portfolio was composed of complex securities including hybrid mortgage backed securities. The $70 million dollar portfolio was liquidated at near book value by having six major investment houses bid telephonically simultaneously on various pools over a two week period. This project was extremely important since there was a risk that the securities could go down in value if not sold quickly. Accounts had to be opened at the investment houses for the Receivership, wiring instructions set up and FDIC personnel trained to man the six phones during the simultaneous bids on a block of securities. My training and background were very important since many of these FDIC employees were not familiar with the industry and we had to make sure the bids were understood and responded to correctly. Two outside managers told me that they thought this method saved the FDIC at least $350,000 over other methods of selling the securities and far greater amounts over some methods that were being considered by others not experienced with these types of sales. This level of performance shows that I had high management/coordination skills, FDIC bank closing skills and oral communication skills.
While working as a banker and while collecting loans for 3 years for the FDIC, my knowledge of commercial loans reached a very high level. One example is that in 1993, out of the 40 commercial loan collectors at the FDIC Irvine, CA office, I collected the third highest dollar amount, at $5,177,357 (and the highest in my department). This included the resolution of numerous old loans, some that the FDIC had held for 6 years before they were assigned to me. This very high level of performance shows that I had high negotiation/dispute resolution skills.
While at Southwest Bank, Vista, CA: Supervised commercial lending activity of 18 bank branch managers including complex loan workout plans. Approved loans that were over the branch managers' loan limits. Accompanied branch managers on visits to their commercial borrowers as Headquarter's representative to explain bank's policies in more depth. Increased number and dollar amounts of commercial loan origination fees, totaling an increase of $60,000 in first year. Conducted periodic lending classes for all 40 lending officers.
Oral and written presentation skills were initially developed and practiced while an FDIC commissioned bank examiner. During my tenure at Merrill Lynch and the bank, I addressed up to fifty people at a time on numerous occasions. As an Investigator for the FDIC, my reports resulted in large amounts of dollars being collected by the FDIC from Directors and Officers of failed institutions. For instance, in the case of the Far Western Bank, Tustin, CA, failure, the FDIC collected directly from the Directors and Officers (not their insurance companies) $2,000,000 in cash; the accounting firm settled for $750,000. FDIC’s in house counsel, Thomas Hearn, now located in Washington, DC, has stated that my report on the bank was very detailed, far surpassing what he normally saw from the Investigation Department, and thus was extremely helpful in getting the settlement. While at the Office of the Ombudsman for 4.5 years, I guided, both informally and formally, Ombudsman personnel on following the detailed FDIC Office of the Ombudsman Manual’s procedures. While at the Office of the Ombudsman, I participated in the preparation of quarterly and annual reports of the office’s activities; these reports were well received as to their clarity.
While a loan collector for the FDIC, negotiated with the borrower a voluntarily turning over of a mattress factory that was collateral. This allowed a successful auction of the factory in a very short period of time, maximizing the recovery for the FDIC. This was one of the few times that the Irvine, CA office had done this type of transaction.
Quickly successfully secured a large yacht that a closed bank for the FDIC had attached and hired yacht managers to get the yacht ready for sale and showings. This is an example of a very special asset that required very quick action to properly maximize value to the FDIC.