Mid Atlantic is pleased to welcome Crescent Wealth Partners, our newest addition to the Mid Atlantic family. Crescent is a former Ameriprise Group based out of Sarasota, Florida. The Crescent team consists of two partners, Brent Hillerich and Brian Grogan, in addition to associate producer Jared Burke and their staff members Erin Bewley and Claudia Woods.
Crescent primarily focuses on investment management, retirement planning strategies, and charitable giving. The firm utilizes its own exclusive Confident Retirement® approach, which begins with a straightforward personalized conversation about a client’s essential financial goals. By breaking down those goals into doable steps, Crescent’s approach is designed to help take the uncertainty out of financial planning.
Mid Atlantic is excited to officially welcome one of our newest business partners The DRL Group to our family. Based in Katy, Texas, The DRL Group is comprised of brothers David and Darrin Loesch and five staff members who handle all operational functions and trading.
The firm specializes exclusively in the bond market, thus taking a “Masters of One” approach to financial services as opposed to a more general “Jack-of-All-Trades” philosophy. As such, The DRL Group is solely focused on providing tax-free income products and managing tax-deferred accounts (IRAs and SEPs) through utilizing high quality municipal and corporate bonds. For more than 20 years, The DRL Group has been serving top tax-bracket clients in their quest to reduce taxes, generate a stable income stream, and help to protect their principal investment value.
The following article was compiled by Alyssa Ritchie.
October is National Cyber Security Awareness Month. Here are some useful tips from the U.S. Department of Homeland Security’s Stop.Think.Connect.™ Campaign.
• When in doubt, throw it out. Stop and think before you open attachments or click links in emails.
• Back it up. Make electronic and physical backups.
• Guard your devices. Never leave your laptop or mobile devices unattended in a public place.
• Secure your accounts. Use passwords that are at least eight characters long and a mix of letters, numbers, and characters.
• Report anything suspicious. If you experience unusual problems with your computer or device, report it to your IT department.
For information and useful cybersecurity tips, please visit www.dhs.gov/stopthinkconnect.
Mesirow Financial Investment Management (MFIM) and Mid Atlantic Trust Company (MATC) are partnering together to make available MFIM’s 3(21) and 3(38) Fiduciary Partnership services through MATC’s FiduciaryXChange level-compensation platform. Recordkeepers and broker-dealers seeking level compensation solutions for retirement plans will be able to utilize MFIM’s outsourced, integrated fiduciary services.
Client plans, advisors, and broker-dealers will receive fiduciary protection and direct, ongoing communications from MFIM for 3(21) and 3(38) services through this arrangement. Meanwhile, broker-dealers and advisors will receive extensive compliance and reporting deliverables, including the status of fiduciary coverage for all plans within a retirement book of business, in addition to actions being taken to remedy client plans in jeopardy of losing fiduciary coverage.
We are pleased to welcome the Smith Financial Group to the Mid Atlantic family. Located in Dallas, Texas, Smith Financial is a father/son practice consisting of Richard and Chris Smith, along with assistant Mary Ellen Smith. Richard has been in the industry for 36 years, while Chris has been in for 24 years. Smith Financial has built its business providing clients with corporate and municipal bonds.
Mid Atlantic is excited to welcome Daniel Sterling as its new Executive Vice President of Mid Atlantic Operations. He will be responsible for all brokerage, advisory, custody, and trust operations groups within the company. In this capacity, Dan will oversee mutual fund brokerage, ACATS, asset movement and controls, custody operations, and trust and brokerage customer support operations.
Mr. Sterling began his career in 1994 as Assistant Vice President of Operations Control at Barings Securities, where his duties included financial analysis and development of policies and procedures for global cash reconciliation. In 2002 he became Vice President of Asset Servicing, Physical Operations at BNY Mellon (then known as Bank of New York) in which he was responsible for overall direction of the U.S. settlements related to trade processing, tri-party repos, time deposits, precious metals safekeeping, and all aspects of physical custody of certificated securities.
At BNY Mellon, Dan was appointed Managing Director Investment Services, Global Operations, U.S. Settlements from 2008-2016. In this role, he addressed U.S. settlement compliance issues, approved risk mitigation plans, developed operational standards, and elevated departmental presence through exemplary customer service and problem resolution. He was a subject matter expert in the areas of trading, settlement, and custody for DTC, FRB, money market and mutual funds, time deposits, repos and various other securities.
Mr. Sterling received a Bachelor of Science degree in business administration from the Indiana University of Pennsylvania.
Recently, we caught up with Dan to learn a little more about him and his new position with Mid Atlantic:
- How did you first come to learn about Mid Atlantic Capital Group?
Working with BNY Mellon, my Settlement team was looking at Pershing as an internal solution to executing and settling mutual fund trades and moving away from a third party vendor. After having some discussions between Pershing and BNYM, we expanded the meeting to add representatives from Mid Atlantic as we discussed our options. I met both Tim Friday and Nick Ventura in those meetings.
- What do you find most appealing about your decision to join the Mid Atlantic family?
Mid Atlantic does have a family feel to it, there’s an energy that is both refreshing and exciting. The individuals I’ve met throughout have been great, either in meetings, one to one at their desks, or at the water cooler. The teams seem genuinely excited about the successes we’ve had and are looking forward to more growth in the weeks and months ahead. I feel blessed to have been adopted into this family and am eager to provide all the support that I’m able.
- How would you envision success in your new role as Executive Vice President of Operations?
Scalability and Control. We need to deliver exceptional service by developing processing models which can handle the growth of the business without dramatically expanding head-count. We also need to be able to adequately demonstrate that our processing risks have been properly identified and mitigated, that the oversight/review process is thorough and meaningful and that we, as a team, continue to have confidence in the numbers that are being reported.
- “In my free time…”
I bike, mostly on the Montour trail or GAP. I recently bought a kayak, but haven’t been too adventurous with it yet. I belong to the Amateur Astronomers Assoc. of Pittsburgh and do a bit of star-gazing from their observatory in Mingo State Park. And I read a lot, mostly history and biographical books. A life goal of mine is to read at least one biographical book on every US president; I’ve covered 15 so far.
Recently, Mid Atlantic held its 2017 National Partner Conference at the beautiful and elegant Arizona Biltmore Resort in Phoenix, Arizona. In the process, attendees were taken on a trip back in time with a 1930s art deco theme! The three day event provided something for everyone, including Bruce Johnstone, Fidelity Investments Managing Director, treating audiences once again to his unique and entertaining perspective on present day economic and market conditions.
Also, Dr. Ben Sorenson of T. Rowe Price delivered a riveting session on how to gather information about clients and prospects through “tells” and develop the skills for response. Meanwhile, David Levine and George Sepsakos of the Groom Law Group tackled the current in-flux state of affairs regarding the DOL fiduciary rule. Additionally, attendees were able to participate in one-on-one training sessions and demonstrations of some of the industry’s top technology platforms by leading third party providers.
As always, many thanks go out to all our terrific speakers, sponsors, and business partners for their involvement in helping us make this year’s annual conference so successful and well-received!
Mid Atlantic recently welcomed to its roster of valued business partners Canterbury Investment Management in Zionsville, Indiana.
Canterbury specializes in providing financial advisers with systematic, rules-based investment solutions. Its mission is to provide strategies that produce the stability needed to achieve long-term risk adjusted growth through compounded returns.
Recently, Mid Atlantic caught up with the Canterbury team for a more in-depth perspective about the firm:
How would you describe the underlying philosophy, principles, and/or strategies you implement when working with your clients?
Canterbury’s philosophy was built on the fact that financial markets and securities are variable, meaning they have both bull and bear markets. The Portfolio Thermostat is constructed to adapt to changes in the market environment similar to how a home thermostat adapts to changes in weather. Instead of measuring temperature, the Portfolio Thermostat is evaluating risk in real-time and making the proper adjustments to remove the portfolio from high risk securities while increasing exposure to lower risk securities.
How is Canterbury Investment Management currently developing and building its brand?
Canterbury’s focus has always been on advisor education and what that means to us is portfolio implementation. We want to be known not only as a company that offers quality strategies but one that can also clearly position ourselves within a portfolio. The ability to effectively position our strategy starts with understanding each advisor’s unique business and their approach to building model portfolios. A brand is built by relationships and we look forward to starting that journey with Mid Atlantic.
What led to your decision to partner with Mid Atlantic on its ModelxChange platform?
Partnering with Mid Atlantic was an easy decision for us. In our initial discussions with Kyle Smith and his team, it was obvious the passion they have for what they do. We have had a great experience working through the due diligence process and hearing about the ideas and thoughts that the team has for the future of the ModelxChange platform. We want to partner with groups that are passionate about what they do because we are passionate about what we do.
Mid Atlantic is happy to bring on board its newest business partner:
BlueStar Retirement Services has a singular focus of making retirement plans simple and effective for employers and advisers. The company services a variety of retirement plan types and is a national specialist in Multiple Employer Plans. By utilizing an open architecture platform, BlueStar provides plan access to a nearly limitless menu of investment options. And as an integrated recordkeeper and Third Party Administrator (TPA), BlueStar delivers the most efficient and effective model for servicing them. BlueStar was founded in 1997 and is based in Ponte Vedra Beach, Florida.
Last month, Mid Atlantic, in conjunction with loyal business partner Derek Fiorenza and his non-profit organization Fiorenza’s Food For Friends (F4), hosted its 2nd Annual non-perishable food drive to help alleviate hunger in the nearby community. Over the course of seven business days, the Pittsburgh office was organized into three separate teams as staff enthusiastically came together in the spirit of service, teamwork, and competitive fun to donate items such as canned tuna, canned fruit, beans, grains, pasta, and personal hygiene products.
We are thrilled to report that employees raised over 2,800 items overall, which more than doubled last year’s tally! These donations were promptly picked up by the Oakland CHS Food Pantry for distribution to local area residents in need. We are truly grateful to everyone involved for making the Mid Atlantic Pittsburgh Office’s 2nd Annual Food Drive its most successful yet!