No shell game

Despite the challenging economic climate, a Henrico-based financial services consulting firm is moving forward with aggressive expansion plans.

With the addition of two new financial executives and an upgraded office space, Oyster Consulting is focused on assisting its clients with efficiency and business growth. The firm takes financial services firms under its wing to nurture business growth by providing audit, compliance, financial, operational and technology consulting.

Oyster assists broker/dealers, investment advisors, hedge funds, mutual funds, exchange-traded funds and private equity firms to create “simplicity in a complex environment,” according to managing director and founder Buddy Doyle.

Doyle is confident that Oyster will be able to maintain both its high quality and service as it expands.

“We have built a company specifically designed to achieve these satisfaction levels, because we believe they are the foundation of lasting, meaningful strength,” Doyle said. “We want to be a consistently profitable organization that develops a loyal client and employee base through the integrity of our associates and the quality and value of our advice and tools.”

Doyle, Patrick Dennis and Rob Hall founded the firm in October 2008. The trio previously worked with Wachovia Securities, but after that company purchased AG Edwards and moved its headquarters from Richmond to St. Louis, Doyle, Hall and Dennis gravitated toward a different ambition.

“While we started out as a compliance-consulting firm based on our backgrounds, we had the vision of creating a firm that comprehensively supports wealth management firms,” Doyle said. “Since then, we’ve attracted the highest quality consultants: both former Wachovia Securities colleagues and professionals from other firms.”

Currently, Oyster Consulting employs 35 consultants located in Richmond, Charlotte, the Washington, D.C. area, New York, Pennsylvania and Oregon.

In addition to adding training resources, relationship management and a sales force, Oyster Consulting also relocated recently to Innsbrook. Its 8,000 square feet of space will allow the team to accommodate more employees. In fact, during the next 12 months, Doyle expects the firm to surpass the 100-employee level.

“While some folks think we are experiencing pretty rapid growth, we feel as though we are just adding the resources we need to get going,” he said. “We are looking for exponential growth and our plan looks at the right time to add to marketing, sales, support, training and technology to support that growth.”

The two newest members to join the Oyster team, Paul F. Costello and Ann M. Griffith, were chosen for their experience in the financial industry and their leadership skills. Costello will handle strategic consulting and business development support, while Griffith will oversee regulatory compliance implementation and testing.

Griffith’s experience comes from serving 20 years as a director and in-house counsel at World Bank’s International Finance Corporation, Financial Industry Regulatory Authority (FINRA), U.S. Securities and Exchange Commission (SEC) and Credit Suisse Securities. Costello brings Oyster more than 30 years of leadership experience from his past positions as president and CEO of the First Variable Life Insurance Company; president of Mentor Family of Mutual Funds; president and CEO of First Clearing LLC; president of Business Services Group; COO, Wachovia Securities; and founding principal of Onyx Associates, LLC.

The firm’s consultants believe that its depth and breadth of services add value to its clients, Doyle said.

“You see a very diverse background from within wealth management. All come together as a team with over five centuries of combined experience to help our clients protect their firms, create efficiency and focus on growing their business,” he said. “Oyster is a boutique consulting firm that combines the sophistication, knowledge and experience of a big firm with the flexibility, service and costs of an entrepreneur.”
Bail Bonds Chesterfield VA

HCPS wins national honor for overhaul of Code of Student Conduct, supports


Henrico County Public Schools recently was recognized by the National School Boards Association for a sweeping overhaul of the school division’s approach to student supports. HCPS was one of five large U.S. school systems recognized with a first-place honor in the 2017 Magna Awards, presented Saturday in Denver at the organization’s annual conference. The awards recognize school divisions and leaders “for taking bold and innovative steps to improve the lives of students and their communities,” according to the group.

The award recognizes Henrico Schools’ efforts of the past several years, from re-examining its policies to implementing more support systems. After a two-year conversation with the community through public hearings and other feedback, HCPS adopted a revised Code of Student Conduct for the 2015-16 school year. > Read more.

Environmentalists say budget hurts efforts to protect bay

Environmental groups are outraged at the Trump administration’s proposed funding cuts for Chesapeake Bay cleanup programs.

President Donald Trump’s budget plan, released last week, reduces the budget for the federal Environmental Protection Agency by 31 percent. That includes a $427 million in funding to address regional pollution, such as the Chesapeake Bay protection efforts. The proposed budget would eliminate funding for the EPA’s Chesapeake Bay Program, which received $73 million from the federal government in 2016. > Read more.

Glen Allen ES principal receives REB Award


Melissa Halquist-Pruden, principal of Henrico County’s Glen Allen Elementary School, earned the 2016-17 REB Award for Distinguished Educational Leadership. The Community Foundation presents the award to four principals annually – one each from the school systems of Henrico, Chesterfield and Hanover counties and one from the city of Richmond schools.

The award recognizes principals who go beyond the day-to-day demands of their jobs to create an exceptional educational environment. The award stresses management and communication skills, and the ability to inspire, encourage and advocate for the school. > Read more.

Grant to help Hermitage H.S. upgrade CTE program equipment


Governor Terry McAuliffe announced recently that Henrico County’s Hermitage H.S. will be among 16 high schools and technical centers statewide to receive a grant to upgrade equipment for career and technical education (CTE) programs.

The program gives priority to challenged schools, Governor's STEM Academies and Governor's Health Science Academies. Each school or center will receive $37,500 to purchase new equipment and make other necessary improvements. At Hermitage, the funds will be used for precision machining equipment. > Read more.

Virginia raises a toast to George Washington’s whiskey


George Washington is recognized as the father of our country, but with a bill signed into law by Gov. Terry McAuliffe, Washington also will be recognized under another title – distiller of Virginia’s official liquor.

SB 1261, sponsored by Sen. Adam Ebbin of Alexandria, adds a “state spirit” to the list of the commonwealth’s official emblems and designations and crowns George Washington’s rye whiskey with the title.

The bill, which McAuliffe signed last week, highlights George Washington’s contributions to the culture of Virginia as “a native son of Virginia born on February 22, 1732, in Pope’s Creek”; “the first American president, commander of the Continental Army, and president of the Constitutional Convention”; and “a model statesman ... universally acknowledged as the father of our nation.” > Read more.
Community

Villa’s Flagler Housing wins national NAEH award


St. Joseph's Villa’s Flagler Housing & Homeless Services was one of three entities to earn the National Alliance to End Homelessness' Champion of Change Award. The awards were presented Nov. 17 during a ceremony at the Newseum in Washington, D.C.

NAEH annually recognizes proven programs and significant achievements in ending child and family homelessness.

Flagler completed its transition from an on-campus shelter to the community-based model of rapid rehousing in 2013, and it was one of the nation's first rapid re-housing service providers to be certified by NAEH. > Read more.

RIR’s Christmas tree lighting rescheduled for Dec. 12


Richmond International Raceway's 13th annual Community Christmas tree lighting has been rescheduled from Dec. 6 to Monday, Dec. 12, at 6:30 p.m., due to inclement weather expected on the original date.

Entertainment Dec. 12 will be provided by the Laburnum Elementary School choir and the Henrico High School Mighty Marching Warriors band. Tree decorations crafted by students from Laburnum Elementary School and L. Douglas Wilder Middle School will be on display. Hot chocolate and cookies will be supplied by the Henrico High School football boosters. > Read more.
Entertainment

Metro Diner to open second Henrico location


Metro Diner, a comfort food concept, will open its second Henrico location next month. The company is accepting job applications for its Libbie Place location at 5626 West Broad Street. The diner concept, known for its fried chicken and waffles, meatloaf, and shrimp and grits, will bring 100 new jobs to the region as it plans to open its doors in April.

The 3,500-square-foot diner located in the Libbie Place Shopping Center will seat more than 100 and serve classic comfort food staples with a twist, such as fried chicken and waffles topped with strawberry butter and a stuffed challah bread French toast with strawberry and blueberry compote. > Read more.

 

March 2017
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Henrico Police Athletic League (PAL) will hold its eighth-annual awards banquet March 30 at Glen Allen H.S. The event, which begins at 6:30 p.m., is open to the public and will include recognition of individuals and organizations responsible for Henrico PAL’s 10 years of success in the community. Keynote speaker for the event is the new University of Richmond Spiders Head Football Coach Russ Huseman. National PAL Executive Director Joseph Persichini and former Henrico PAL and 2011 National PAL Youth of the Year winner Aubrey Temple are also scheduled to speak. For information about the event, contact Sgt. (Retired) Kenneth Ragland at .(JavaScript must be enabled to view this email address) or 878-1830. Full text

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