Mountain Climbing
And Finances?

The two have more in common than you think.

JUDY GREENWALD I CONTRIBUTING EDITOR

ill arallels
between
mountain
climbing
and investing are
many, and for Jay
Hack, these two driving
forces in his life led to
his writing The Steady

Climb: A Family Journey
From Mountains to
Markets, about the two

profession.
"It was never my
intention to go into
business with my dad,"
he said. "He began
his 46-year career in
the finance industry at
Roney & Company and
has become one of the
top financial advisers
in Michigan. He was
successful, and I wanted
to achieve similar success,
but my joining his practice was based
on something more — his philosophy of
life. He combined integrity and optimism
with a belief that if you take a long-term
view and do what is fundamentally
correct, your probability of success
increases over time."
Hack explained that his father was
challenged physically as a child, and this
taught the elder Hack the importance of
long-term thinking.
"My father said he learned if he
wanted to succeed at something, he
had to consistently apply himself to
the things that would give the best
chance to achieve his goal. The more he
thought about future consequences, the
more success he had."
Hack learned well from his father's
example, for this approach to money
management is expertly detailed in
The Steady Climb. The book follows
patterns found in the stock market:
going from the peak before a decline;
then the declining (bear) market; to
a re-emerging (bull) market; and the
resulting peak, using climbing anecdotes
and end-of-chapter summaries to bring
home his point of consistent planning,
which keeps clients informed on the
best ways to reap rewards in the oft-
times roller coaster ride of investing —
as evidenced by the recent volatility in
the stock market.
A member of Temple Israel in West
Bloomfield, Hack outlined the one
Jewish value he brings to his work:
education.
"We try to educate our investors
about issues like charitable giving,
inheritance and taking care of family.
The more they know, the better the
outcome. Long-term investing is a
journey, one that needs a trusted guide.
Our mission is to help clients succeed on
their journey to manage wealth."
Look for Hack as a speaker at the
upcoming JCC Jewish Book Fair in
November.sw ❑

3

Jay Hack

worlds' similarities.
The book was released in July, and
it combines climbing anecdotes with
analogies to the financial world and
market performance.
Hack, 39, who lives with his wife,
Tara, in Detroit, uses examples from his
days of guiding expeditions in places
throughout the U.S., South America and
Australia in his informative, engaging
book, which tells the story of how his
climbing experiences, both positive and
not, led him to choose a career as a
certified financial planner.
He now works in partnership
with his father, Paul, at Hack Wealth
Management of Raymond James in
Farmington Hills and, together, they
manage client portfolios in excess of
$300 million.
It was during a rainstorm in Nevada
that Hack made his decision to give
up working as a mountain guide,
something he'd been passionate about
since childhood.
"Guiding was
a dream come
true," he said,
"but suddenly,
I thought about
the constraints
guiding put on the
/
Jay Hack
relationships in my
life and what those
meant for my future. I only saw my
family in Michigan once or twice a year.
I wanted to be closer to them and to
start a family of my own. But did I want
to give up my dream job?"
It turned out that Hack, who
graduated from Emory University in
1998, and who worked at Bank of
America and CNN, decided to make a
radical change by leaving the heights of
mountaineering to receive his MBA in
2006 from American University's Kogod
School of Business.
"My father told me: An under-
graduate degree is education for life.
Graduate school is education for a

w,

I

•

prankfin Cider Mill

,

FAMILY TRADITION"

OPENING DAY

Saturday,

r

Horse-drawn
carriage rides
on weekends
weather
permitting!

IlP

August 29th

Wishing
our friends
a Happy and
Healthy
New Year

248-626-8261

14 Mile Rd.
and Franklin Rd.

HOURS:
Open Daily
7am-6:30pm
Weekends
8am-6:30pm
Thanksgiving Day
8am-4pm
Last Day of Season,
Sunday,
November 29th

frr, nrki

• r

d poi), ir,obillo

ti

I-

EV-tRY GRISTMILL

Colonel Peter Van Every
a flouring null on the
f the Franklin Riven For
Is mill was the only gristmill
nd County at which a farmer
ell wheat for cash money
hery was erected In 1838 et
of this mIll, but is not

nce today
t
regi.reClIbneenntZvlendu;ro

illi located
m

•

1,10

PARKING

ANT
TIME

1.1

•

-----

farther dome

tIlleg
Peary built a t d fl r em,

NS,

acre. , flm '' reLappeared ,

Make us your stop for

located
alani!

t It
h" "n"
title

the Jewish Holidays. A

full assortment of Dakota

Van

•

Cgf In

Mm

Every

111.1 •

Breads and our Franklin

Home made Apple Pies.

2030720

FRANKLIN VILLAGE BOUTIQUE
OFFICIAL GRAND OPENING

SPECIAL GRAND
OPENING BONUS!

SEPTEMBER 10 10 A.M. – 5 P.M.

Enjoy our beautiful fall collections and delicious treats all day!
A generous portion of the days' proceeds will benefit:

PA RifINI E RS KARmANos

BARBARA

REACHING FOR A CURE

ANN

CANCER INSTITUTE

The Partners are united in the fight against cancer and dedicated to solely raising funds
for research at Karmanos Cancer Institute. We are thrilled to partner with the Partners!

Spend $500 in one shopping

day at our boutique from now
until September 15 and receive
25% off current regular-priced
merchandise every subsequent
visit until December 31, 2015!

11:1111r7411=1

V

w
V

r 40.

1111111'

NOW OPEN!

•
Viiiage Bo tiqu

Fabulous, fun and finer women's clothing,
beautiful accessories, unique handcrafted jewelry
and great girlfriend gifts...all perfectly priced.

32716 Franklin Road
in the heart of
Historic Franklin Village

Evenings by Appointment
Charity Events Welcome

(248) 851-0055
Monday – Friday 10-5
Saturday 10-4

2031080

September 10 • 2015

91