Dear Clients, Family, Friends & Acquaintances,
I am pleased to announce that I will be joining Wisdom Investments on January 1, 2017 as Vice President of Financial Planning. When I founded High Five Financial, I had no idea this kind of opportunity would arise for me and my family. I shared the news with some of you, but many do not know. I met Bill (Founder of Wisdom Investments) at a breakfast Bible Study at the beginning of this year. He shared with me he owned a financial planning firm and I decided it would be a good idea to seek his advice while I continued in the process of establishing High Five. During the process, there were some challenges for the two of us to meet and I ended up opening my firm before Bill and I could talk further. After I opened the firm, Bill shared with me that he wanted me to consider joining Wisdom Investments. Since we’ve discussed this opportunity, I’ve been conducting business as High Five Financial while we assessed our financial planning and investment philosophy’s to ensure compatibility and the best possible scenario for our clients. Our test has been successful and we are pleased to be joining forces.
This new arrangement allows for economies of scale as well as a broader array of services. While Wisdom Investments will continue to focus on Financial Planning, Investments and Tax, High Five Financial will continue to operate as an outlet for insurance products, such as life insurance and long term care insurance.
Financial services is a highly regulated industry and on April 6, 2016, the U.S. Department of Labor (DOL) issued its final rule expanding the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA) and modifying the complex of prohibited transaction exemptions for investment activities in light of that expanded definition. Critical elements of the rulemaking include; significantly expanding the circumstances in which broker-dealers, investment advisers, insurance agents, plan consultants and other intermediaries are treated as fiduciaries to ERISA plans and individual retirement accounts (IRAs). Such individuals are now precluded from receiving compensation that varies with the investment choices or from recommending proprietary investment products absent an exemption. I have always operated as a fiduciary and while this new rule will not have a direct effect on my clients, it will result in increased compliance efforts which is another benefit of joining forces with Bill.
Many things will remain the same, such as my clients will continue to work with me. However, you will also have the opportunity to meet and work with Bill. Bill will serve as the Chief Investment Officer of Wisdom Investments, responsible for all investments within the company. Bill will also retain responsibilities for all tax matters within the firm. You will continue to have access to Emoney Advisor to access all of your account information.
I place great value in the confidence my clients place in me and I am very grateful to you not only for giving me the opportunity to provide you with financial planning services, but also for your loyalty and friendship. I am confident that joining Wisdom Investments will serve us well. High Five Financial wouldn’t be what it is today without you and the clients you have referred to me. As the next phase begins for me and Wisdom Investments, I’d like to ask you to think about who you know that would benefit from the services we provide. As you know, spending money on advertising and marketing is expensive and takes away from time spent servicing clients and keeping up with current developments. We appreciate your help in continuing to grow our business.
Bill Kmiecik has served as a mentor for me since I launched High Five Financial. Bill has been paramount to some of the success I’ve achieved as a financial planner and business owner of High Five Financial. You should be very excited I will continue to have the opportunity to work with a man of his caliber.
Bill is a CPA-PFS and has over 30 years of broadly diversified knowledge and experience relative to finance, investments and taxation. He is a member of numerous organizations, including: The American Institute of Certified Public Accountants, The Illinois CPA Society, The Arlington Heights Historical Society, The Arlington Heights Chamber of Commerce (member of Financial Review Committee), Rotary Club of Arlington Heights (Past President). Bill has also taught Finance, Accounting, and Investment courses at William Rainey Harper College and the Northern Illinois University MBA program.
Bill considers himself to be his client’s Personal Chief Financial Officer and Life Advisor. He serves his clients with a belief that wealth management is an ongoing process in which he helps coach them to reach their own personal financial objectives, including: financial independence, estate preservation, and a legacy of wealth, significance and values.
If you have any questions not addressed in this letter, please call me at 847-290-0753. You can reach me via email at email@example.com or firstname.lastname@example.org. I look forward to providing you even greater service through Wisdom Investments, Inc.