Scott Goodrick said a friend said he looks like an accountant. This is not a bad thing for a man who handles investments for people with portfolios of at least $100,000.
But he likes to compete in endurance car races. "That's where I take risks -- in my personal life," Goodrick said. He also has worked as a white water rafting guide, a canoe and kayak teacher and a beach lifeguard. To prove it, he has a collection of pictures illustrating his past life.
For a number of years he also worked in his family's party rental business, a huge company in Cleveland, Ohio. Right out of high school he joined the U.S. Marines, then went into the family business and, by 27, he was running its branch operations division. That was as high as he was going to go in the business though, and he started thinking of other options.
He said he spoke to a lot of retired people and one question he asked them all was, "If you had your life to live over again what would you do differently?"
Almost all of them told him they would have played more.
"One detective said people really only need to work about 20 years, so why not wait until you're 40 to start your career. I thought about that and realized he was probably right," he said, and as it turns out, he seems to have taken the advice to heart. He has done the risky things in his personal life, and now he is working to make money for other people.
Goodrick is owner of American Asset Management, LLC, which he opened in Oct. 2002, and brought to Payson when he moved here the following month. He worked in the investment industry for a number of years before striking out on his own.
He graduated from Florida International University with a bachelor's degree in finance. It was an area he has been interested in for quite some time. He said his father was an armchair investor. The first time the New York Stock Exchange hit 1,000, his father kept him home from school, "It was a really big deal."
The first job he had in the business was with a large brokerage firm. After a year he was sent packing.
"I was fired because I was working to make money for my clients, not the company," Goodrick said.
He was then a portfolio analyst with a small firm, managing $200 million in assets from 1995 until 2002. Goodrick parted ways with the firm when it was taken over by a large insurance company and the driving philosophy became making money for the company, not the clients.
After leaving the small firm, he spent some time traveling, looking for a job and visiting friends and family and talking about his investment philosophy. He said they all told him, if he went into business for himself, they'd put their money with him. By the time he finished his vacation, he had enough money to start the business.
Goodrick's travels brought him to Payson in Aug. 2002. On the drive up from Phoenix he said he just fell in love with the place. He spent 10 days in the area.
Single and 44, Goodrick did not have to make arrangements with anyone to make the move. He sold his home in Florida and purchased a house in the Woodhill development.
"I have been very lucky. The response has been great to the business. I can be anywhere and do business. I carry three cell phones on me, have four computers, including two laptops. I keep one in my car connected to another cell phone. My clients have access to me 24 hours a day," Goodrick said. When designing the kind of company he wanted, he focused on taking advantage of the latest technology to give his clients the best access to him.
He said he earned an associate's degree in computer programming through the community college in his hometown, so has a good working knowledge of the mechanics and uses of the equipment.
He is a registered investment advisor in both Arizona and Florida, is a member of the American Investment Managers, and is earning certification as a Chartered Financial Analyst, one of the most respected credentials in the financial industry.
Goodrick charges a percentage of assets he has under management and does consulting for a flat fee.
"I can't legally charge a commission. The incentive is it's a win-win. I make my clients money and I make money. In this business you live and die by how well you treat your clients and how well their investments perform," he said.
Currently the business is a one-man show, but Goodrick plans to have someone handle the technology side in the future, freeing him up to spend more times with clients.
The mission statement Goodrick designed for American Asset Management, LLC., says, "We will be flexible when working with our clients and listening to their needs. Working together we will set a reasonable set of goals for their portfolio. We will accommodate our clients' moral and ethical preferences. We will meet face-to-face a minimum of once a year to review the investment performance, reevaluate the stated portfolio goals and review our clients' needs.
"We recognize that investing is a perpetually changing process, and our clients' needs are constantly changing. We will always be open to change to meet our clients' investment and personal needs."
For more information about Scott Goodrick's American Asset Management, LLC, call 474-4934.