Private Ocean Expands Equity Ownership

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Chair of the Investment Committee and Chief Operating Officer become members of Private Ocean, LLC

SAN RAFAEL, Calif.--(BUSINESS WIRE)-- Dr. Frank Jones, investment chair, and Dr. Susan Dickson, chief operating officer, have become owners of Private Ocean, the Marin County wealth management firm.

Expanding ownership is Private Ocean’s first step in creating a plan that will allow for an internal succession. “Creating internal ownership opportunities will ensure that our clients and their families receive the same premium service they get today, in perpetuity,” said Dickson.

About Dr. Frank Jones

Dr. Jones is a 40-year veteran of the financial industry. Currently, he serves as chairman of the investment committee at Private Ocean. He is also professor of accounting and finance at San Jose State University.

Previously, Dr. Jones was a founding board member of the International Securities Exchange (ISE). At the ISE, he served as chairman, member of the executive committee and chairman of the corporate governance committee. During his tenure at Guardian Life Insurance, Dr. Jones managed a portfolio valued at $29 billion. His international experience includes senior executive and strategic positions with Merrill Lynch and Kidder, Peabody. He was also senior vice president at the New York Stock Exchange, where he ran the NYSE stock options program.

Dr. Jones holds a PhD in economics from Stanford; an MBA from the University of Pittsburgh; an MS in nuclear engineering from Cornell; and a BA in engineering and BS in physics from Notre Dame. In addition to his professorship at San Jose State, he has taught at Columbia University, MIT, NYU, Rutgers University and Yale University.

Dr. Jones has published three books and co-authored a fourth, with Frank J. Fabozzi and Franco Modigliani (Nobel laureate in economics), titled Foundations of Financial Markets and Institutions, published by Prentice-Hall. He also contributed to The Handbook of Finance, published by John Wylie.

About Dr. Susan Dickson

Dr. Dickson has over 30 years of business management experience in various industries. In her current role as chief operating officer, she played a pivotal role in the successful merger of Salient Wealth Management and Friedman & Associates into Private Ocean in 2009. The merger united two of the North Bay’s most successful wealth management operations.

Dickson holds an MBA in Strategic Leadership from Dominican University of California. She received the degree of Doctor of Education in Organization and Leadership from the University of San Francisco. Her experience at Private Ocean, and her interest in how organizational culture influences the economic success or failure of an organization following a merger or acquisition, inspired the research topic for her dissertation and subsequent articles in process.

Currently, Dr. Dickson’s community involvement includes chairing the audit committee and serving on the board of directors of 10,000 Degrees, a non-profit organization that helps young men and women from low-income households earn college degrees. She is also president-elect of Junior League of Napa and Sonoma, and sits on the board and executive committee of the Women, Leadership & Philanthropy Council at Dominican University of California.

About Private Ocean

Private Ocean is a wealth management firm deliberately structured to give clients the intimate experience of a small firm, while harnessing the power, depth and discipline of a much larger one. The 26-person Private Ocean team seamlessly integrates personal financial planning and institutional-class investing. Private Ocean clients interact directly with a tight-knit team of specialists led by recognized industry leaders and pioneers in planning, investing, ethics and technology.

Private Ocean CEO Richard Stone was honored with the Schwab IMPACT® Leadership Award at the November 2011 Schwab IMPACT® conference. In October 2011, President Greg Friedman received the Investment News Industry Influencer Award. Friedman also received the Schwab IMPACT® Best in Tech Award in 2007.

Formed in 2009, Private Ocean (www.privateocean.com) combined two of the oldest privately-held wealth management firms in the San Francisco Bay Area – Salient Wealth Management and Friedman & Associates. Founded by Richard Stone and Greg Friedman, the firm has nearly $750 million in assets under management. Private Ocean works with senior executives, business owners and other affluent individuals with a minimum of $2 million to invest.

Photos of Private Ocean executives available on request. Email [email protected] or call 415-526-2904.

Private OceanSusan Dickson, 415-526-2900[email protected]

Source: Private Ocean

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