With more than 35 years as a financial services professional, Jay R. Penney brings a wealth of experience and credentials to assisting clients in the achieving their life and financial goals.
Jay earned the CFP® (Certified Financial Planner™) designation in 1987 and was awarded the CFA® (Chartered Financial Analyst®) in 1992. He recently earned the AIF® (Accredited Investment Fiduciary®) designation and holds Series 6, 7, 22, 24, 63, and 65 securities licenses with FINRA (Financial Industry Regulatory Authority).
Jay advises high-net-worth families, professionals and business owners, focusing on clarifying each client’s unique priorities and coordinating his advisory team’s efforts with those of other key legal, tax, and risk professionals. He delivers holistic, customized wealth management solutions to meet the increasingly complex demands of the volatile market.
“What I love most about my work is the incredible people I’ve had the privilege to get to know—people with complex, interesting life stories,” Jay says. “I get to meet their children and grandchildren. The personal relationships that last for decades are the most satisfying part of what I do.” An initial meeting with Jay includes 62 questions, with very few related to finances. “I am the kind of wealth manager who zeroes in and focuses on my clients’ desires, needs and wants,” he adds. To prove it, at the second meeting Jay delivers a 2’x4′ “mind-map” of their answers to those initial questions. Only after he understands a family’s life goals does he develop and execute a custom financial plan.
As chief investment strategist, Jay is expanding his duties even further by spearheading Ashton Thomas’ 401(k) plan management services, which are offered to plan sponsors. The goal is to put important fiduciary standards and benchmarks in place for the 401(k) plan choices offered to employees in terms of each option’s costs, fees and performance, while reducing administrative and legal paperwork for employers. “I’ve been a fiduciary since 1992, doing fee-based work and managing 401(k) plans for select business clients. I’m really looking forward to implementing these services on a large scale,” Jay says. Jay and his wife, Dixie, have been married for almost four decades. They reside in Scottsdale where they raised their three children. Jay grew up in Boston and remains a diehard Red Sox, Patriots and Celtics fan. He and Dixie make yearly pilgrimages back to his personal mecca, Fenway Park, where he cheers his beloved Sox on to victory.