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When Michelle and Tom Schoeffel decided to start their own stock brokerage, they knew they would be giving up steady jobs for the uncertainties of self-employment.
They also knew they would be competing with mega-brokerages with hundreds of employees and tremendous marketing budgets.
But that didn’t daunt the pair, who struck out on their own in February 1997 to found Pacific American Securities LLC. After three years of growth, their University Towne Centre firm has 33 employees in its local headquarters and its New York City branch office.
Their holding company, Pacific American Services Group LLC, has seven more employees and also oversees the investment adviser subsidiary, Pacific American Advisors LLC as well as Pacific American Securities.
With gross revenues of more than $2 million a month for the past five months, they are trading about 10 million shares of stock a day for their institutional customers and high net-worth clients with more than $250,000 to invest, the pair said. Their company had $12 million in gross revenues in 1999, up from $1.2 million in 1998, they said.
The company has been active with mergers and acquisitions as well, buying Lichter
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