35 Years of Armstrong, Fleming, & Moore: A Special Update From Our Founder
Keeping Your Perspective
Usually in our quarterly newsletter we show a graph of what the Standard & Poor averages have done for the year to date. We use the S&P 500 Index because this index reflects 500 companies versus the more limited 30 companies that appear in the Dow Jones Industrial Average.
Instead, this time we thought we would show you what the averages have done since we started our firm in April 1983. On March 31, 1983 the S&P 500 Index stood at 152.96. On April 2, 2018 it closed at 2,581.88. Quite a difference!
We opened our doors for business on April 1, 1983. Our first office was located at 1140 Connecticut Avenue, NW, the next one at 1155 Connecticut Avenue, NW, then 1850 M Street, NW and now 1800 M Street, NW. In other words, our offices have been located within a two block radius during the past 35 years!
President Reagan was starting his third year of his first term in office as president. A postage stamp cost 20 cents, a loaf of bread cost 66 cents and a gallon of milk was $1.89. In the financial world the 10-year Treasury bond was paying 10.46% versus the current yield of 2.73%.
At that time, we had five employees, today we have 17 full-time employees, plus several interns. We are not sure how many clients we had or how much money we managed, but we know it was a lot less than now. Earlier this year we hit the $1 billion mark for assets under management and now work with 317 households. In addition, InvestmentNews recognized our firm as one of the *50 best places to work for financial advisers.
*Firms were evaluated based on employer and employee surveys, covering company culture, benefits, career path and more.
We wouldn’t have made this progress without the help of you, our clients. Thanks for your confidence, loyalty and support over the years. As we celebrate this milestone, we look forward to many more years of helping you achieve your financial goals!
Alexandra Armstrong, CFP® and Chairman of Armstrong, Fleming, & Moore, Inc., has spent over 40 years in financial planning and is regarded as one of the fields pioneers. In 1977, she was the first person in Washington, D.C., and one of the first women in the nation, to become a CERTIFIED FINANCIAL PLANNER™ Professional.