We assist people from many walks of life, financial goals and circumstances. Forming long lasting relationships allows us to provide not only comprehensive financial advice, but also top quality service. Below are case studies that show the different goals our clients had and how we helped them reach their destinations.
Destination Sleeping Well for the busy working professional
A number of our clients are busy working professionals who travel, put in long hours and are at the peak of their careers. We catch up with them as they prefer: e-mail, cell phone or in-person (at work or home).
Meet William. He had investments consisting of a 401(k) and a portfolio with a discount brokerage firm that provided advice, but did not execute trades or investments unless authorized. This was a trading account and he traded on-line to adjust his portfolio. As his investment portfolio grew, he decided to invest an equal portion of his holdings with CFSG.
At CFSG, we closely monitored the recommended stocks and invested according to William’s allocation needs. We added and removed investments based on his wishes so he still retained overall control over his investments. William did not have to constantly monitor the stocks and bonds, as we did that for him with periodic meetings and consultations to make sure he was comfortable with the direction of his portfolio. The CFSG portfolio significantly outperformed his portfolio with the discount broker during the severe market decline from October 2007 to March 2009 and the Great Recession. In fact, comparing values of both accounts from CFSG’s inception date to March 2009, his discount brokerage account declined by 29%, while his CFSG account declined by only 5.5%. During the market rise to current levels, both accounts performed at similar levels with current values above the previous highs of October 2007.
“…I’m fully satisfied with CFSG and recommend their services: there was less downside risk during the severe market decline and good upside growth once the recession ended. The group has been very professional and understanding of my preferences, and at the same time has provided good solid returns with less risk, allowing me to sleep well.” – William L
Destination Smooth Sailing for business owners
Our trust officers work with small businesses ranging from two people to large companies with hundreds of employees. Business owners have unique needs for estate planning, succession planning and often times, investments for both their business and their personal financial affairs. We are able to offer them creative ways to save taxes, invest their funds and plan for that day when they can retire. They often lead very busy lives and value our help managing their financial affairs.
Steve and Joan each inherited assets from parents who had died in the past 18 months. Additionally, both had wills with no power-of-attorney documents or trusts. They also had retirement assets through their business, as well as several types of IRAs. After reviewing their array of assets, our trust officer saw that when either Steve or Joan passed away, certain assets would pass through Probate Court – a costly exercise that could take another year as well as make some of their assets public record.
We oversaw a meeting with the couple and their attorney so that two of their largest assets – their home and their business – could be re-titled to eliminate probate. Power-of-attorney documents were also signed. We also helped establish cost basis figures for Steve and Joan’s securities that lacked this information.
The couple better secured their privacy as well as their potential tax savings, thanks to the advice from Community Financial.
A number of our clients are retired and range in age from their 50s to their 90s. For those who are more elderly, we work with their families to help pay their bills and provide for their personal needs.
Mike and Linda dreamed of retiring in 5 years. They had recently inherited some money and also had some cash, IRAs and additional securities with another firm, but the stock market was in decline and a significant portion of their net worth was tied up in real estate. The couple was very worried about whether or not they would be able to retire someday. After several planning sessions with their new CFSG trust officer, they added to their equity holdings and increased equity allocation significantly to benefit from the upcoming rise in the stock market. Their trust officer also helped them to design a plan to sell some of their real estate holdings and invest those proceeds to eventually generate enough retirement income from their portfolio.
By diversifying into more liquid assets at Community Financial, they were able to retire on time.
Destination The Right Solution for nonprofits
We work with libraries, churches and hospitals as well as many other types of companies.
A public library had their assets with a large, regional bank that was planning on increasing their already high management fees. This literally meant that the library would have to reduce its budget for purchasing books. They reached out to CFSG which not only offered a lower fee structure, but more attentive, local service and also the expertise to facilitate and draft the library’s first investment policy statement.
The public library received better service without having to reduce their
budget for purchasing books.
always been available to meet with me,
listen to my questions and offer sage advice…their sound advice has allowed my account to show steady growth…in a way that is very comfortable for me…”
– Kathy & Derek B
What you can expect
When we meet with clients, we provide them:
- Economic and market updates
- Current portfolio statements
- Investment performance details
We also confirm their investment objectives, goals and cash flow needs. Periodically we will review insurance, estate planning documents and other important financial planning matters.
† Names have been changed for the privacy of our clients.