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Dave Penniall, CFP®
President/CEO
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Nickname – “DP”
Bachelor of Arts, in Political Science, UCLA; CFP®, 40 years giving investment advice
Dave became an investment manager in 1982 after a seven-year career in major league baseball. Traveling from game to game, he talked with fellow players and saw that they needed help with their money. So many of them came into fast fortunes and lost them to disreputable, or just plain dumb, managers.
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Armed with a degree in (WHAT) from UCLA and an obsession with financial markets, Dave set out to build a safe-haven for fellow athletes and their money. He joined Morgan P. Underwood & Co. in Pasadena in 1982 and opened a practice for all investors. He struck out on his own in 1997, then bought out the Underwood firm in 2000. The grandchildren of many early Underwood clients are still with Bridge today.
David holds licenses in securities, insurance, and real estate. He earned his CERTIFIED FINANCIAL PLANNER™ professional certification in 1985. During his 37 years in finance, he has worked with individuals, small businesses, and corporations. Dave and his wife have three children. His son played baseball for UCLA just like his dad, who was captain of the team in 1976.
“Rule No. 1: Never lose money.
Rule No. 2: Never forget rule No. 1”
– Warren Buffett
What are some interesting facts about you?
- I eat and write left-handed but throw and play golf right-handed
- My favorite movie is “Braveheart”
- I majored in Political Science at UCLA
- The most exciting part of our business is seeing clients achieve their financial goals through retirement.
What is something people in the financial world have to deal with that you want to fix?
My goal has always been to bring together the various disciplines within our industry (such tax, investments, retirement, legal, insurance, etc.) providing better solutions for clients.
What do you do at Bridge?
I give corporate guidance, manage investments, and bring in clients.
What are your credentials/past experience, for working in your position?
I have been President/CEO for 25 years. In addition, I have founded or co-founded about 10 other firms and have helped in running those firms as well.
What’s your Archetype?
Commander – ENTJ-A
What do you like about working at Bridge?
At Bridge, I love the comradery and purposeful intent to bring value to our clients.
What’s your background?
I’ve been married 42 years to my high school sweetheart, with 3 incredible children and now 2 wonderful grandchildren. I grew up always wanting to play major league baseball. I ate, drank, and literally slept at the local park playing sports of all kinds. Having reached a very high level in baseball but not my ultimate goal of the major leagues, I turned to financial planning. I was extremely fortunate to have found a fantastic mentor in Morgan Underwood. For all I have accomplished today in my financial career, Morgan deserves much of that credit. I have found over the years that financial advising and leading our firm to be much more rewarding than my original goal of playing major league baseball. I am passionate, engaged, and so proud and honored in all that has been accomplished with Bridge and my team.
What are the Bridge Advisory Core Values that drive you?
Values that drive me are: client-centric focus, perseverance through difficult times, and commitment to excellence.
Your top three favorite Podcasts/Books?
My favorite reads are “The Federalist Papers” by Publius (Madison, Hamilton, and Jay), “The Gettysburg Address” by Abraham Lincoln, and “Free to Choose” by Milton Freidman
What do you enjoy doing when you are not working?
When I’m not working, I enjoy golfing and research.
What are you looking forward to?
I am looking for a fundamental change to the way our financial system works.
What makes you smile?
Seeing a client succeed in their financial goals and acknowledging our help makes me smile.
What would you do if you won the lottery?
I would be doing the same as I am doing now if I won the lottery.
What’s the best adventure you’ve taken? Or favorite place you’ve traveled to?
Playing professional baseball in Mexico for parts of two years was an incredible and eye-opening experience.