In picturesque Mercer Island, Washington, Peter Jacobs feels right at home. As an avid cyclist, skier, and outdoor enthusiast, Peter's love for the Pacific Northwest runs deep. He fell in love with the lifestyle as a Midwest transplant working for the Boeing Company. In time, his passion for the region leads him to a career in financial services, where he uses his talents to help clients invest in the future. Mercer Island, with its beauty and charm, plays a significant role in Peter's story as he finds success and happiness in his work and personal life.
The Road to the Tschetter Group and Mercer Island
Peter Jacobs, CFA® and CFP®, currently serves as the Senior Portfolio Manager of the Tschetter Group, a boutique Registered Investment Advisor (RIA) firm that shares his values and commitment to long-term success. His journey to the Tschetter Group is a story filled with serendipity, friendship, and a desire to serve clients with the integrity they all deserve.
Peter's path to the Tschetter Group began in 1994 when he first met Dick Tschetter, now Chairman and Founder of the Group that bears his name. The two formed a close bond, which was further strengthened when Peter worked with Dustin Brumbaugh from 2000 to 2010. Dustin is now the Chief Executive Officer, and Chief Investment Officer of the Tschetter Group. Over time, Peter has found the financial services industry to be a tight-knit community, with professionals often branching out to form new companies or join established teams. What makes Peter’s story special is how close-knit his inner circle remained over decades!
After graduating from the University of Cincinnati with an aerospace engineering degree and working in his early career on classified programs for Boeing, Peter decided to go back to school to get his MBA from the Booth School of Business at the University of Chicago. Shortly thereafter, he combined his experience from Boeing with his newfound finance credentials and joined the equity research department of Seattle-based Ragen MacKenzie in 1994 as a stock analyst covering aerospace and manufacturing companies. He quickly rose through the ranks, and shortly after Wells Fargo’s acquisition of Ragen MacKenzie in 1999, Peter became Deputy Director of Research and then Director of Research in 2003. He held that position until 2010 when Wells Fargo decided to shut down the Ragen MacKenzie brand. Peter cherished his time at Ragen MacKenzie and was blessed with wonderful mentors that taught him that good stock selection requires solid fundamental research, paying close attention to valuation, thinking differently than main-stream investors, and having a long-term time horizon. These remain the foundation of how he approaches investing to this day.
As Peter notes, the financial services industry seems to continually evolve over time, but it is also a tight-knit community. Over the ensuing years, Peter supported many financial advisors, most former colleagues, with individual stock selection and overall portfolio strategy to implement for their clients, but he never joined any of their practices directly. Then in 2017, Peter joined the Stifel RMG Group as their Chief Investment Strategist, where many former Ragen Mackenze advisors had eventually moved, applying the same stock selection process he honed early in his career.
Over the years, he remained in good touch with Dustin and Dick, admiring and respecting their progress building the Tschetter Group as an independent Registered Investment Advisory (RIA) firm and the extraordinary service they offer their clients.
“Successful investing isn’t easy, but it also shouldn’t be complicated. We take a commonsense approach to investing for clients." - Tschetter Group Credo
Peter had long desired to join an advisory team directly so when the Tschetter Group was searching for a dedicated portfolio manager and Peter got the call from Dustin, he seized this special opportunity in August of 2022.
Joining the Tschetter Group allows Peter to work with a growing team that shares his values, provides exceptional services, and serves clients who are closely aligned with their mission. Proclaiming this to be his last stop, Peter sees this as a great alignment at the perfect time for all involved.
Peter's Investing Philosophy
Peter's investing philosophy is centered around the idea of doing your homework and understanding what you own and why you own it. He emphasizes the importance of having a long-term time horizon and not getting anxious or excited over short-term fluctuations in the market.
When referring to maintaining a longer-term time horizon, Peter respects and knows that this is easier said than done.
“One of the misnomers is a lot of people say they are long-term investors, but it lasts only as long as the portfolio is going up. When things aren’t going exactly as planned, knowing the businesses you own allows one to sleep at night and let time do what it does best: growing a portfolio over time.”
This long-term perspective allows him to stay focused on the fundamentals of the businesses he invests in, evaluating their potential for success in the long run rather than getting caught up in the short-term noise of the news cycle.
Peter believes that by focusing on the long-term prospects of businesses, investors can make better decisions and avoid getting “twisted around,” selling when they should be buying, or vice versa. His process has been honed over time, allowing him to maintain a disciplined approach to investing that has served him well throughout his career.
Life on Mercer Island: A Perfect Home for Peter
Mercer Island became home for Peter in 2002 and he immediately fell in love with the area. The island’s demographics, easy access to Bellevue and Seattle, and strong school districts were all factors that contributed to his decision. The sense of community, friendships his daughters formed, and involvement in local organizations, like the Mercer Island Presbyterian Church and the Mercerwood Shore Club, made, and continue to make, the island the perfect place to call home.
As a resident of Mercer Island, Peter enjoys the island's natural beauty and recreational opportunities. He loves the running routes and the Mercer Island Loop for cycling, which he often supplements with rides around Lake Washington and Lake Sammamish, clocking in 30-40 miles per ride during the summer. The waterfront parks and landings, along with the facilities at the Mercerwood Shore Club, provide Peter and his family with countless opportunities to connect with nature, neighbors, and long-time friends.
In addition to his love for skiing, hiking, boating, and traveling, Peter most enjoys doing those things with his daughters; the oldest who is now a sophomore at Gonzaga University, and the youngest who is a junior at Mercer Island High School. He cherishes the memories they created together, both on and off Mercer Island, and he's grateful for the friendships he's made with his neighbors and the strong friendships he still has with his old Boeing buddies some thirty years after he left the Company to attend graduate school.
The Perfect Fit: Peter, the Tschetter Group, and Mercer Island
Peter Jacobs' story is one of passion, dedication, and a desire to serve clients with integrity. From his early days at Boeing to his current role at the Tschetter Group, Peter's journey is shaped by the friendships he makes, the opportunities he seizes, and the idyllic setting of Mercer Island. For Peter, Mercer Island and the Tschetter Group are the perfect fit, and together, they continue to build a brighter future for their clients and the Pacific Northwest.
For Mercer Island, Peter is a community champion and ambassador. He remains steadfast on experience, what works, and is incredibly long haul oriented. When asked why someone should move to Mercer Island today, Peter proudly exclaims that the reasons haven’t changed. Proximity to Seattle and Bellevue, a world-class school system, activities to suit all comers, and neighbors you can grow with for the duration of your lifetime.
"Historically, two key pillars to building financial wealth have been to own good businesses and real estate, taking care to pay a fair price for each along the way. We believe the same holds true today.”
“We build portfolios one asset at a time, investing when we believe the market presents the right opportunities for the most positive outcomes over time.” – Tschetter Group Credo