We are writing to wish you all a happy, healthy new year. Looking back, 2019 had many exciting milestones for BPC Advisors. We quietly celebrated our three-year anniversary, but more importantly, we were able to help our existing clients and a number of new clients plan for their futures. This was represented by the significant growth in the assets we manage on clients' behalf.
For example, at the beginning of 2019, we were managing approximately $50 million for our clients. By the end of the year, this figure has grown to over $85 million.
Of course, some of this asset growth was market-driven, as both the equity markets and fixed-income markets posted above-average returns. However, the majority of this growth came from our clients introducing us to their friends/colleagues and sharing their experience working with BPC Advisors.
Internally, we believe the main driver of this growth has been our focus on client service. Also, our continued goal of helping guide clients through their financial and life decisions helps establish long-term partnerships. As always, we pride ourselves on our fiduciary duty to clients and our straight-forward, no pressure approach. In other words, we are invested in their success.
As we look forward to 2020, we aim to help clients the best we can. We don't believe anyone can accurately predict what will happen in the financial markets, but we will strive to keep our clients focused on their long-term goals while managing the variables within our joint control.
Thank you for your continued confidence.
Doug and Geoff