I am pleased to report that by the most common metrics for our business, things have never been better. Assets under management exceeded $600 million as of 9/30/2018, an all-time high. Growth in this metric is attributed to solid investment performance, new client development and deeper engagement with existing clients.
From my perspective, the most important metric is client retention, as it is an excellent indication that we are delivering on the expectations of our clients. We must face that we operate in a competitive industry – therefore, we must remain committed to evolving and adapting to the various needs of our clients. Our business philosophy has always been to focus on our clients and to continually find ways to improve our service. To that end, I am pleased to share the following exciting news:
New Technology: Our goal is to bring high tech to our already high touch client service:
We have made a significant investment in new technology tools for life and wealth planning. This new platform will have many key features including:
We are excited to bring you all of the capabilities that this new platform will offer. We are in the late stages of development and over the coming months you will be hearing more details as we prepare to make it available.
Strengthening our Team: We continue to invest in our human capital.
Upon the retirement of our longtime colleague, Jean Pavek, we conducted an extensive search and have hired Brian Moran as our new Chief Compliance Officer. While we were certainly sad to see Jean leave, we are very excited to have Brian on board and believe his extensive experience will enhance our firm in many ways.
We have also added Joe Daly of Sparta, NJ. Joe brings an extensive track record of building relationships, consulting and advising business owners that we believe will translate into our industry quite well.
We are also currently interviewing candidates for an Associate Advisor position that will have an emphasis on Financial Planning. It is our goal to bring in a Certified Financial Planner who will work with our Advisors and our clients to assist in creating and monitoring goal-based financial plans.
Finally, I am very excited to announce that Genny Cornell has been promoted to Chief Operating Officer. Many of you know Genny, as she has been with us for over 20 years in our client service and operations areas. Most recently, Genny was our Director of Operations – overseeing all of our back-office operations. In her newly expanded role, Genny will be taking on more broad responsibilities at the firm – given her experience and professional demeanor, we are certain that Genny will make a tremendous impact for our firm and for our clients.
Our goal with all of this is to continue to strengthen our firm and the capabilities that we are able to bring to our clients. I encourage you to allocate some time in the near future with us, to make sure that you are taking full advantage of all that we have to offer.
As always, we appreciate the trust and confidence that you have placed in us. We look forward to a bright future together and are always here to address your particular financial needs. All our best for a happy and healthy rest of 2018.
Joseph P. Biondo
Chief Executive Officer
Chief Investment Officer