The eighth installment in the 2024 OwnerView webinar series on Oct. 1 discussed the benefits of professional Thoroughbred advisors and agents.
The conference was hosted by The Jockey Club and the Thoroughbred Owners and Breeders Association and presented by Bessemer Trust, Stoll Keenon Ogden and The Green Group. The panel was sponsored by Walmac Farm. A virtual Q&A was sponsored by West Point Thoroughbreds.
The panel consisted of Braxton Lynch, co-founder and racing manager of BBN Racing; Clark Shepherd, founder of Shepherd Equine Advisers; and Jeffrey R. Bloom, founder of Bloom Racing. Gary Falter, project manager for OwnerView, was the moderator.
“We all have those key relationships and the unique benefit of having a wealth of knowledge as it relates to the years spent developing those relationships,” Bloom said. “[It is important to understand] how to best maximize the potential of your client’s investment and ensuring that the client can enjoy themselves. With an advisor slash agent, you’re helping to facilitate all of that as best as possible.”
All panel members emphasized the importance of developing a business plan regardless of investment. Bloom said understanding an owner’s expectations and budget is key while Shepherd said discussing industry pitfalls is crucial.
“I think it’s paramount that you have those relationships and the expectations are there. A lot of people can promise the upside but it’s those bottoms that are really, really hard and those phone calls at five in the morning that something’s gone wrong on the track.” Shepherd said. “Success is relative too. It’s not easy to win any race, anywhere, at any level. If you can maintain, have fun, stay alive and not try to force the home runs, because most of these big swingers that swing for the fences, they strike out a lot. The home runs will generate themselves if you stay steady.”
Lynch said when considering a horse to purchase, owners should consider many things in addition to pedigree and conformation—both of which can be taught. Unteachable things such as assigning value to a horse and not going over the budget are also important. Lynch said in addition to having a plan, flexibility within that plan can be key.
“I think a lot of people need to just put the miles in. Go out there and look at the horses,” Lynch said. “Follow those horses, the ones you like, follow them and see what they did. Go work for a trainer, work for a bloodstock agent. That’s how you build your knowledge base.”
The replay of Tuesday’s Thoroughbred Owner Conference panel is available at bit.ly/OVVideos.
Two additional Thoroughbred Owner Conference virtual panels are scheduled for 2024. The next session, “State Incentive Programs,” featuring the FTBOA’s Steve Koch will be held Nov. 5 at 2 p.m. EST. A full schedule can be found here: bit.ly/OVSchedule.
There is no registration fee for the 2024 virtual conference series, but registration is required. For more information about the owner conference series, including the schedule of panels and registration, please visit ownerview.com/event/conference or contact Gary Falter at 859.224.2803 or gfalter@jockeyclub.com.
