‘Oracle of Ona’ Sees Continued Growth in StrongTower Investments | Business
ONA – They call it “Ona’s Oracle”.
An oracle is a person considered to provide wise and insightful advice or prophetic predictions, including precognition of the future.
PA Nash, an Ona Investment Advisor, has earned the nickname of Friends and Clients for his investment philosophy, which is based on selecting investments that have proven to be eternal winners for decades, not just quarters and years.
“The Oracle of Omaha is a nickname for Warren Buffett, who is arguably one of the greatest investors of all time,” Nash said. “So I take this nickname as a big compliment.”
Nash, 52, is the owner of StrongTower Investments in Ona. It is a full-service investment firm specializing in asset management services, portfolio construction and pension fund oversight.
“We joke that we are the financial district of downtown Ona,” he said. “It’s said ironic, but it reflects what drives us and sets us apart from other investment firms.”
Nash is the Managing Director of StrongTower with nearly 25 years of experience as an investment advisor, starting with AG Edwards in 1998, working both in Ashland and Huntington.
“We buy and sell securities, such as stocks, bonds, mutual funds, certificates of deposit (CDs) and more for our clients and manage their portfolios in response to market forces,” he said. he declares.
Nash laid the roots of what is now StrongTower Investments in 2015 when it became an independent subsidiary of the Wells Fargo financial network. This decision led him to move his consulting business from downtown Huntington to his hometown of Ona.
As of 2020, he was not only one of the last brokers inherited from AG Edwards, after their acquisition by Wachovia and then Wells Fargo in 2008 – he had also become one of the most successful advisors in the set. of the Wells Fargo system.
In early 2020, Bishop Nash, 29, a reporter for the Herald-Dispatch in Huntington, joined his father and also became a full-fledged investment advisor.
The year also saw the arrival of Stacey Chapman, who joined in March with over 30 years of management experience. She had been the manager of the Disney Store at Huntington Mall from 2005 to 2019, when Disney closed nearly all of its Disney Store stores.
Beginning in 2021, the company affiliated with Cambridge Investment Research, a private and independent broker-dealer based in Fairfield, Iowa, replacing Wells Fargo.
The change precipitated the creation of StrongTower Investments – and a newly expanded office – a reflection of the family business’s growth and success through customer loyalty, according to PA Nash.
“StrongTower is a new name and brand, but with 23 years of experience,” he said.
PA Nash says the name StrongTower is a Christian witness.
“It comes from Proverbs 18:10, which says the name of the Lord is a strong tower,” he explained. “A lot of our customers liked it. It’s a name that identifies strength, and it lends itself well to our Cabell Midland Knights here at Ona.
Today, StrongTower Investments oversees more than $ 140 million in assets under management for more than 600 clients, a portfolio of businesses built entirely from the ground up by PA Nash.
“Our clientele is almost exclusively made up of individuals living in the tri-state area, although we have clients in 13 different states,” he said.
PA Nash says the firm’s three major fund providers – American Funds, Vanguard and Fidelity – are three of the industry’s largest asset managers with excellent reputations and distinguished histories each.
“When it’s most important, we’ll take the test-and-true over the new and improved any day,” he said. “We are long-term investors and we encourage our clients to be the same.”
PA Nash grew up in Ona. He attended Nichols Elementary, Ona Middle School, Milton High School, and Marshall University, where he earned a business degree.
“I didn’t really have a plan for a career in investing,” he said. “I started in industrial sales, but an opportunity presented itself in 1998 to get into the field in which I am today.”
PA Nash said starting out as an investment advisor was tough.
“It has been miserable for a very long time as I tried to build a customer base,” he said. “My career has weathered some of the most brutal markets in American history, including the dot-com bubble, the 2008 financial crisis, and the COVID-19 pandemic.”
He says he thinks the risk and reward in the current market is fairly balanced based on the valuations.
“With interest rates as low as they are now, it always makes stocks more favorable over fixed income,” said PA Nash. “But year after year, we see continued growth and it’s thanks to great customers. I am looking for continuous growth. We are not making growth a goal in itself. Our goal is good service to our customers.
Bishop Nash says he believes in the same philosophies his father has when it comes to building success locally.
“We have completely sold the idea of ’blooming where you are’, and using it right here at Ona, our home, is a huge achievement,” he said. “It has been said, ‘Build a better mousetrap and the world will fight its way to your door,’ and we’ve proven it time and time again. We didn’t even have a website or Facebook until 2021, but new people are always coming looking for us. People love to talk about their investments, especially when they are doing well, so word of mouth has been huge for us. “
One example is the trade they do in Louisa, Kentucky, which is about an hour away from Ona.
“We have several clients who live on the same streets and at the same job, one after another, because a handful have told another handful about it, and suddenly we have close to 100 clients in Lawrence County, Kentucky, alone, ”said Bishop Nash. . “Most brokers won’t like the Louisas of the world, but we do because we’re cut off from the same cultural fabric as them, and we appreciate that.
Bishop Nash said he personally enjoys the feeling of making money for the honest people of the world.
“I love the idea of taking some of the money off Wall Street and putting it in the pockets of people in places like Ona, Louisa, Kitts Hill, Hamlin, Eleanor, wherever it is,” he said. declared. “You are as likely to meet experienced and successful investors in the hollows of the Appalachians as you are on the streets of Manhattan. One of the best accounts we have is my 85-year-old grandfather, my dad’s dad, who picks stocks from The Herald-Dispatch trading section. When I first saw how much money his wallet has made over the years, I got a little torn at the thought of him, in such a simple way, smoking the hottest fund managers of the world.
The PA’s father and Bishop’s grandfather, Normal Albert “Buzz” Nash Jr., died Wednesday evening surrounded by his family at his home in Ona. The father and son wished to recognize its impact on their development as businessmen, and simply as men.
“He was delighted when I joined dad here, and he almost always asked me which values closed certain actions when I visited him in the evening,” said Bishop Nash. “When I had my last conversation with him on Tuesday, I reminded him that he had the most successful portfolio I have ever seen, and he built it all himself mostly on intuition and reading the newspaper. He would never say it, but I’m so proud of it. He has outperformed all the big urban investors with just guts and common sense. I hope some of this has rubbed off on me.