Veteran Trader Commemorates Eight Years at Sheaff Brock

Registered Investment Advisory Firm in Indianapolis, Indiana

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Sheaff Brock Investment Advisors, LLC

Jul 23, 2019, 10:37 ET

INDIANAPOLIS, July 23, 2019 /PRNewswire/ -- Sheaff Brock Investment Advisors, LLC, recognized the eighth work anniversary for its most experienced options trader—previously retired broker-dealer Wally Taggart.

Starting his investment career at Paine Webber (now UBS) in 1964, Wally spent ten years as a broker in downtown Indianapolis, Indiana. When his branch manager and friend left in 1974 to join Dean Witter, Wally accompanied him. He later trained and assumed branch management responsibilities.

Wally's interest in options began at Paine Webber and grew during his 25 years at Dean Witter. Before becoming listed and standardized by the Chicago Board of Options Exchange (CBOE), option contracts were typically written for six months and ten days—to create long-term capital gain. Written any time the New York Stock Exchange was open, transactions were handled by broker-dealers who dealt solely in options. At Dean Witter, Wally became the broker who handled options accounts; he even considered buying a seat on the Chicago Board of Options Exchange. The "new" Exchange seats were offered at $10,000—seemingly, quite a bargain.

After retiring from Dean Witter in 1999, Wally and his wife drove a 2000 Corvette cross-country on Route 66 to visit daughters in California. Wally spent the next 12 years traveling the world, and spending time with grandchildren. It was by chance that Wally ran into old friend Ron Brock, co-founder of Sheaff Brock, who encouraged him to join the company in 2011.

At Sheaff Brock Investment Advisors, Wally relies on his options experience to manage the firm's Covered Call portfolio strategy. Responsible for a portfolio of stocks, he sells calls on those equities with the goal of getting a higher return for investors than might be possible by simply holding them. Wally strives to generate income and capital gains through options.

Reflecting on investment trading changes since his early career, Wally considers access to information today's biggest difference. Before iPhones and the internet, it was sufficient for brokers to stay current by reading the Dow Jones news. Now, however, he feels it's critical to spend time weighing the accuracy of vast information through numerous sources. Delivered more in quick summaries than abundant detail, today's content also typically contains a lot of opinion.

Considering "what's next," Wally looks forward to the market opening each day. "There's always something unexpected," he says, "which makes it fun. So I'll continue doing what I do, and be grateful for every day."

About Sheaff Brock Investment Advisors, LLC:
Sheaff Brock is an SEC-registered, fee-only, independent investment firm focusing on innovative strategies that strive to enhance portfolios of both growth- and income-oriented investors. The firm manages $966 million in assets nationwide as of 6/30/2019. Visit sheaffbrock.com for more information.

SOURCE Sheaff Brock Investment Advisors, LLC