Patrick Bourbon is the founder of Bourbon Financial Management, LLC (BFM). As the founder of Bourbon Financial Management, LLC., Bourbon is the personal CFO of each of the company’s clients. He provides knowledge and customized strategies in order to make effective diversified investments.


patrickbourbon v2 Financial Planner Patrick Bourbon Reveals How He Overcame His Small Businesss Biggest Obstacle: Gaining Peoples Trust

Patrick Bourbon
(Photo courtesy of Patrick Bourbon)


Bourbon has 20 years investing experience including 10 years at UBS Global Asset Management. He has a master’s in finance, graduating Beta Gamma Sigma, and a master’s in engineering, graduating top of his class. He is a CFA Charterholder. Bourbon is also very engaged in Chicago’s civic community, actively serving as the chairman of Stuart Investments, a member of the Board of Overseers of the Stuart School of Business at the Illinois Institute of Technology, a co-chair of the Distinguished Speaker Series at the CFA Chicago, and the treasurer of the South Shore Drill Team. In 2006, he was elected president of UFEC. In 2014, he was elected “Conseiller Consulaire” with the Consulate of France. He was also an adjunct faculty member at Stuart School of Business at the Illinois Institute of Technology. Bourbon shares his expertise and knowledge in finance and offers insight to small business owners.


What has been the biggest challenge you have had in your business?

“Following the recent financial crisis in 2008, many pension plans, and even social security, were no longer sound. People were more worried about running out of money at retirement. My biggest challenge was creating trust with individuals when I launched my investment advisory business in 2009 following the financial crisis and the Madoff scandal.”


What have you implemented to overcome that challenge?

“While good credentials helps, we created a business model that was different. First, we are fiduciary. We act in the best interest of our clients. We guess that less than 30 percent of advisers, brokers, insurance agents are fiduciary. Second, we are fee-only. BFM never accepts third-party incentives/commissions, as that would compromise the integrity and impartiality of our advice. We estimate that less than 3 percent of advisers are fee-only. Finally, our clients enjoy a flat annual retainer fee structure. Our fees are not the typical 1 percent to 1.5 percent fee based on the financial assets of the clients. We believe this model may create a conflict of interest since the adviser may not recommend to buy real estate, reduce mortgages/debt, keep the assets in cash, [or] give money to children [for example] as these actions would decrease the financial assets of the client, and the revenues of the adviser. We have a subscription/membership/retainer model. Most of our clients pay us $200 to $400 per month, and they can talk to us at any time.”


What are the results after you implemented your solution?

“While the solution was not really used and known, after we explain to our prospects our business model, they trust it, they become clients, and they refer us to their friends. We now have clients in the U.S., Europe and Asia.”


This article was written by Michelle Guilbeau via for CBS Small Business Pulse.



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