In May of 2010, Rey Descalso left a large wirehouse to create a firm that would help his clients without call centers, proprietary products or the legacy liabilities of large Wall Street firms.
He has been a Registered Representative and an Investment Advisor Representative since 2005, joining J.W. Cole Financial, Inc. in 2010. Prior to founding Privada Wealth Management, Mr. Descalso had been registered with Wells Fargo Advisors Inc., Wachovia Securities, and A.G. Edwards.
Mr. Descalso attained the Accredited Asset Management SpecialistSM (AAMS®) designation through the College of Financial Planning and the Accredited Investment Fiduciary® (AIF®) designation through the Center for Fiduciary StudiesTM. He utilizes a Nobel Prize award-winning investment strategy (The Bucket Plan®) and attained The Bucket Plan® Certified (BPC®) designation. The BPC® process allows him to implement the most comprehensive wealth management plans.
He has a Series 7 license through the Financial Industry Regulatory Authority (FINRA)and successfully completed the Series 66 registration exam developed by the North American Securities Administrators Association (NASAA). In addition, he has the Life and Health Insurance and Variable Annuities license through the State of Florida. FINRA and the State of Florida have continuing education requirements in order to maintain these licenses.
His experience in 2008 was a defining moment that guides him to this day: “As an industry, we were not well-prepared for the credit crisis on many levels. We did not have appropriate risk management in place for the needs of many clients. This went beyond the pure numbers and drawdowns. We were not well-equipped to handle the emotional hardship many clients faced when everyone thought the financial world was crashing down around them. So, educating clients about risk management has become one of my most important priorities.”
Mr. Descalso has lived in the Central Florida area for most his life and attended Forest Lake Academy in Apopka. He received a Bachelor’s Degree in Theology at Southern Adventist University in 1997 and a Master of Divinity Degree from Andrews Theological Seminary in 1999. He and Rebecca, his wife of over 20 years, have a mischievous daughter, Olivia. All three of them enjoy Disney cruises and time at the beach.