Career Began: 1969
Home Base: Houston, Texas
Civic Affiliations: University of Houston, The 100 Club, M.D. Anderson Cancer Center, Boy Scouts of America
When Howard Lorch applied for rookie status at a regional brokerage in Houston, he was told he didn’t fit the profile of a successful broker.
“I remember it like it was yesterday,” Lorch says. “The guy said: ‘It doesn’t look real good for you. You’re young, you have no experience and psychological tests say you’re more interested in people than you are in business.’”
Two years later, Lorch was one of two rookies to survive training class. Today, with $1.16 billion in assets under management, the 63-year-old Lorch is the top individual producer in Wachovia Securities’ Private Client Group — and the secret weapon of some of the nation’s wealthiest families.
To fully appreciate the Lorch legend, consider this revealing admission from Brandon Perry, president of a family-owned firm, Global Capital: “At present, I work with over 20 brokers on a daily basis and have many solid relationships on Wall Street. My other brokers don’t know this, but Howard has set the standard for all of them. I know what it’s like to have a ‘special’ broker and few are able to live up to the standard that Howard has set.”
Remarkably, Lorch and his longtime associate, financial consultant Trish Bonnot, run the practice single-handedly with no support staff. They manage roughly 250 accounts for oil company executives, high-net-worth individuals who manage money for their families and family foundations, NBA players and corporate CEOs.
Lorch attributes his business success to “right place, right time,” but clearly there’s something else at work here. It’s passion.
“You know what this business is all about? You’ve got to eat your own cooking. I believe in what I do. I have a passion for the stock market and I believe in it. I have stocks in my own portfolio I’ve owned since the 1980s. They’re good companies. Why sell? My clients invest for the long haul,” says Lorch.