firm history
In The Beginning…
Robert B. Ausdal entered the financial services
business in the 1950’s serving a growing client base throughout the Quad-Cities area. Robert took great interest in his clients. So much so that when opportunities arose in other cities, he declined, opting to stay in Davenport. His commitment to his clients was such that he was unwilling to abandon them regardless of the opportunities presented to him. It was this unwavering commitment to his clients and belief in independence that eventually lead him to establish Robert B. Ausdal and Co. in 1979. At the onset, Robert B. Ausdal & Co. was truly a “mom and pop” shop. Robert managed his clients’ accounts, his wife, June handled administrative work and his son Rob, at the time 16 years old, helped out wherever he could. An arrangement that continued for nearly 30 years.
Meanwhile, in Chicago…
Tom Hopkins, frustrated with the practices of many larger financial firms, founded Long Grove Trading Company in 1981. Known as a man of character, integrity and concern for others, Tom had many friends. One by one, his friends joined him and LGTC grew into Waterstone Financial Group, arguably the premier independent broker/dealer in Chicago with over 600 registered representatives. In 2006, a prior funding arrangement with a national insurance company allowed for the purchase of Waterstone. Within a few short years the firm was acquired, sold again and Tom and other key Waterstone executives were dismissed. It seemed that there was unfinished business.
Fast Forward …
After Robert B. Ausdal Sr.’s passing in 2006, Rob Jr., a graduate of the University of Illinois and CFA, took over the helm of the family business. Rob shared his father’s values but at the same time, realized that the business environment was changing. Rather than cling to his legacy, Rob chose to share it, surrounding himself with other experienced professionals that offered complimentary areas of expertise. It wasn’t long before mutual friends introduced Rob to Tom Hopkins and in early 2008 with a cherished history and an eye to the future, Ausdal Financial Partners was born.