Raimondi, who started trading options in law school, has his own legacy clients who have been with him for 34 years. Typical clients have focused portfolios with 20 to 25 stocks with “big moats and long runways,” he said.
Although he has a bias towards individual stocks, Raimondi acknowledged that ETFs are appropriate for many clients who don’t have multimillion-dollar portfolios. Furthermore, he doesn’t expect future Dakota affiliates to move all their clients to his style of investing if other vehicles like mutual funds have worked well for them in the past.
When it comes to acquiring other firms, Raimondi said, “First and foremost, we are looking for culture. Second, we are looking for talent."