14 Oct What is in a name? – 2022 Q4 Commentary

I believe names have significance. I started this company in 1975 as John Stewart Darrell & Co. and ran it as such until 1994. At that point, the partnership between myself and Charlie King that began in 1986 had grown and developed and I believed that adding Charlie’s name to the company name would highlight the direction of the business and inspire confidence in our clients. Hence the advent of what became Darrell & King, LLC. Through this newsletter I would like to proudly announce to our clients that Darrell & King, LLC will become Morris & Wells Wealth Management, LLC beginning in the New Year. The four partners – myself, Charlie, Beth, and John – believe that our clients need to know the business will go forward and that we will protect and grow clients’ assets beyond when Charlie and I choose to retire. Hopefully, this name change signifies comfort and continuity for you.

What the name change to Morris & Wells should not signify to you is any personnel change. Charlie and I remain in the office and represent important pieces of the company. A significant aspect of our name change includes Elizabeth Morris’ elevation to Managing Director. Beth began her career with Darrell & King in 1993. In 30 years she gained experience with every single facet of this business including working at some point with every client. The numerous highlights of that growth include achieving her Certified Financial Planner (CFP) designation and overseeing a massive change in the technology behind the scenes that allows Darrell & King to seamlessly service our clients. Charlie and I believe in her ability to drive the business forward and Beth is enthusiastic about the chance to lead the firm and set a course for the future. John Wells will continue in his role as partner – focusing on investment strategy and helping guide clients’ financial well-being. The team eagerly anticipates the future.

Things were not always this exciting. When I founded the business in 1975, the S&P 500 had recently come out of a bear market and I was a one man shop with five clients. However, thanks to drive, determination and your trust, the business and your assets weathered that storm and several more market and economic cycles. That hard work continued as the team grew and today the business sits on a firmer foundation than 47 years ago. We thank you for your past support and trust, and we humbly ask for those things going forward.

What does going forward look like at Morris & Wells? As noted above, we will have no near-term change in personnel. We welcomed Sarah Morris to the team as a full time employee in early September. Sarah will focus on optimizing our back office work as well as working on some client facing projects. Sometime during the first quarter of 2023 you will see a new website and updated brand and stationary. Although limited in number, we hope the changes please you and that they emphasize our dedication to serving you while protecting and growing your assets.

In terms of protecting and growing your assets, we will not make changes to our investment strategy. Charlie remains as head of our investment team, a role that John will assume at some point in the future. We believe strongly that our focus on finding 18-25 stock investments with an expected return of 50- 100% and a holding period of three to five years gives you the best chance of outperforming the stock market over time.

While we realize clients appreciate our investment track record, we know that client service and the accessibility of our partners help maintain your trust. With ever expanding technological capability the Morris & Wells team exists to serve you and answer any questions you may have. For those who have not taken advantage of our financial planning and cash flow management advising (see Table 1 below), please consider it. The results of our work often give clients even more peace of mind and confidence in their financial futures.

We hope that “What Is in a Name?” conveys to you comfort and continuity. Morris & Wells will begin 2023 as an investment advisory steeped in history and experience, but with an eye to protecting and growing your wealth over the next 30 years. If you have any questions or simply want to chat, please let us know. As always, we are available by phone, video chat, email, or an in person visit. The office location remains the same too, as does all our contact information.

Sincerely, John S. Darrell