NewsSeptember 27, 2021
Virtuoso Asset Management Opens in Burnt Hills
The Chamber took part in a ribbon cutting for Virtuoso Asset Management on Friday, September 24. The Chamber was joined by elected officials, Chamber Ambassadors, local business owners and family and friends of Founder, Tiffany Soricelli.
Tiffany Soricelli started out as a singer at the age of eight. She pursued an education and career as an opera singer, but early in her career made her way to Wall Street and the executive offices of an $11B hedge fund. From Wall Street to nonprofit development to licensed financial advisor, Tiffany’s mission has always been to support artists and the arts sector by demystifying the world of finance for a group of people for whom financial education is often overlooked – the “starving artist.”
In her work as a financial advisor, Tiffany saw that there was a need for more than financial education in the arts industry. Virtuoso Asset Management LLC (VAM) launched in 2021 to become the first Registered Investment Advisor (RIA) firm in the country dedicated to serving artists and supporters of the arts.
Artists are largely ignored or underserved by the financial sector because they don’t fit the standard approach taken by other financial firms. Varied and inconsistent income, multiple employers, weeks or months between jobs, and complex tax situations often make artists an unconventional client for the typical advisor, if they can even meet the account minimums most advisors require. VAM has no account minimums, low, flat-fee services, and a place where their “unconventional”-ness is celebrated. Artists need an advisor who understands their background, lifestyle, and unique business needs and as artist-turned-advisor, Tiffany does just that.
VAM sets itself apart by helping clients align their values and investments by building wealth through socially responsible investment strategies. The company also donates back each year to support the arts. Through their “1% for the Arts” initiative, VAM donates 1% of annual gross revenue in support of an arts nonprofit. VAM clients drive this process by nominating and voting on where that donation is directed each year.
“I am thrilled to know that my management fees are being used to give back and help other creative professionals” – Robert Paterson, American composer and VAM client.
“There are a lot of assumptions out there about artists and many are untrue. It’s time to stop romanticizing the ‘starving artist’ trope,” Tiffany says.
“In a time when everything else shut down, we turned to Netflix, and radio, and live streaming to connect. We fill our lives with expressions of art and therefore, everything we experience is influenced by artists – the people who reflect our human condition and create beauty in the world. The arts are essential.”
Virtuoso Asset Management is a new RIA created to serve essential artists and those who support them. If this interests you, please visit www.VirtuosoAssetManagement.com to learn more and book a complimentary consultation.
All ribbon cuttings are sponsored by Saratoga National Bank and Trust Company.