Portfolio Economic Trends

1st Global Hires Art Laffer as Economic Advisor

November 01, 2010 at 01:08 PM
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Dallas-based broker-dealer 1st Global announced Monday that Dr. Arthur B. Laffer, "Father of Supply?Side Economics" and inventor of the Laffer Curve, will be an economic advisor to the firm's investment committee and executive management team.

According to the company, Laffer will provide analysis and advice regarding the current economic environment and its implications for not only the general business climate but also its impact on the decisions made by the 1st Global IMS investment committee.

"Dr. Laffer thinks like a tax professional," said 1st Global CEO Tony Batman, when asked about the genesis of the relationship. "He understands the incentives and motivations for the decisions investors make. Since we are a firm focused on helping our advisor partners with CPA, tax and estate planning issues, he is a natural fit."

Batman doesn't believe Laffer's political pedigree, including as an economic advisor to both President Ronald Reagan and Prime Minister Margaret Thatcher, will be an issue with 1stGlobal's 500 advisor firms or their clients.

"[Laffer] is an intellectual giant, known first and foremost as an economist," he said. "People might debate his political pedigree, but his economic principals are solidly planted and impossible to refute."

Laffer is the founder and chairman of Laffer Associates, an economic research firm that provides investment?research services to institutional asset managers, pension funds, financial institutions, and corporations. He was a member of President Reagan's Economic Policy Advisory Board for both of his two terms (1981?1989). He was a member of the Executive Committee of the Reagan/Bush Finance Committee in 1984 and was a founding member of the Reagan Executive Advisory Committee for the presidential race of 1980. He also advised Prime Minister Margaret Thatcher on fiscal policy in the United Kingdom during the 1980s.

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