In a world of financial complexity, Rosemary Caligiuri, founding president of Harvest Group Financial Services, endorses using simple, essential ideas in communicating financial advice to her clients. She starts with a thorough understanding and regular review of a client’s personal situation and their aspirations for the future. She believes only then can a plan be tailor made for her client and adapted to their changing circumstances.
A guardian of financial futures for over 20 years, Rosemary Caligiuri has built a financial services firm with an unwavering respect for a client’s nest egg. “As advisors,” says Caligiuri, “our role is both financial coach and educator. We clarify confusing, complex issues and topics, while creating and implementing a plan that suits each individual client. Being tailor made is an essential ingredient to an individual’s financial plan and sometimes that means ignoring the latest trends.”
Caligiuri is excited about her team of associates who are turning her principles of education and personalized advice into practical solutions for each individual client.
Loretta Hutchinson is a financial advisor and wealth manager with Harvest Group. But her job description stretches a bit further. She is also a Certified Divorce Financial Analyst. “Divorce is a pivotal time both personally and financially,” she says. “Decisions are made that have a huge financial impact for both a person’s lifetime and consequently their family’s as well. … And most of these decisions cannot be undone.”
According to Hutchinson, a lot of individuals contact her when they are still contemplating the decision to divorce. With proactive planning and advising, the process can be less emotionally charged, timelier and sometimes less costly. She also works with the other members of the divorcing couple’s team such as mediators and attorneys. “The best case scenario is proactive divorce financial planning,” she says. “When someone comes to me post-divorce, many decisions have already been made and they are not always in an individual’s best interests.
“The complex financial aspects of a divorce settlement,” Hutchinson continues, “are frequently beyond most attorneys’ expertise … particularly when family businesses and complex financial portfolios are involved. Women are usually handed a lump sum and that’s that. I am always looking at both the short- and long-term tax consequences of a financial settlement.”
If a client needs income, what is the best way to structure the settlement?
“Most advisors look at numbers in black and white,” says Hutchinson, a former accountant. “Quite frankly, it’s a little bit more involved than that. You have to determine what the numbers need to do for you in your lifetime. And everyone’s needs are different.”
For Hutchinson, a Nationally Certified Counselor, finances also have an emotional component. Emotional guidance is useful when handling finances, especially with divorce.
“Money means different things to people,” she says. “Sometimes it’s love. Sometimes it’s power. It doesn’t matter who initiated the divorce; many financial decisions have to be made. Once the divorce is final, it’s law. The ability to communicate and listen is important. The individual is usually emotional, raw and frustrated—feeling like life is out of control. By just listening to my clients, they feel a sense of validation and support. Many are then ready to make decisions and move forward.”
This counsel doesn’t just apply to clients. Thanks to the staff’s diversity of expertise, colleagues frequently rely on each other to solve problems. “I like to refer to us as the Harvest Group brain trust,” Hutchinson says.
Part of the Harvest Group “brain trust” is Bea Tiberge, previously the executive director of independent living of Attleboro Retirement Village in Langhorne. “I know the issues really well for seniors, and I saw firsthand what happens when things aren’t handled right—it’s disastrous,” she says.
Caligiuri’s expertise in creating cash flow for retirees landed her on the covers of Smart Money and Barron’s, so Tiberge frequently referred residents to Harvest Group. Tiberge, a registered securities representative and a licensed insurance agent, joined the firm almost six years ago.
Aside from learning the importance of financial planning for seniors at Attleboro, Tiberge developed “a respect for seniors and an appreciation of their potential. Older people are wonderful, vibrant and interesting.”
Fulfilling that financial potential takes work. “One investment may work beautifully for one person and not fit well for another,” says Tiberge, who adheres to Caligiuri’s philosophy of planning for the person. Typical questions include: What are the client’s goals? How much is needed for retirement? Will Social Security and pension be enough? Also, insurance and tax strategies abound that could benefit clients and their children.
The goal remains the same. “It doesn’t matter how much you have in your portfolio,” Tiberge says. “It’s how much you will need to live and what you’re willing to lose. Don’t be aggressive because the market is rising; your conscience—and your portfolio—might thank you later,” advises Tiberge. “Ask yourself, if you lost 20 percent, could you sleep at night?”
Tiberge has no intention of letting that happen. Harvest Group, she states, really provides sleep insurance: “It allows people to sleep well at night, no matter what’s going on in the marketplace.”
Before joining Harvest Group in late 2011, financial adviser John Lindsey spent 14 years working for the country’s top money managers. Part of his job entailed educating financial advisors, including Caligiuri.
Lindsey always considered Caligiuri and her colleagues among the country’s elite advisors.
“Rosemary stood above in terms of educating the client, connecting with the client, and really knowing the information,” he explains. Also, the firm’s independent status meant that it wasn’t beholden to a bank or a corporation’s bottom line.
“That is one of the reasons I like the Harvest Group; they don’t invest by looking in the rearview mirror,” Lindsey says. “What investors tend to do, when they’re making decisions, is they look at what’s done well and what hasn’t done well. As advisors you have to look 10, 20 years down the road,” and not jump on what’s hot now.
Caligiuri, Lindsey says, encourages open minds. It’s OK to ask questions. “We’re constantly talking with everyone,” Lindsey says. “As advisors if you work by yourself, you get tunnel vision.” And, you may lose sight of the client.
That won’t happen at the Harvest Group—at least not on Rosemary’s watch … or Loretta’s … or Bea’s … or John’s.
“Our clients are a part of our lives, and we’re an integral part of their lives,” Tiberge says of the firm’s clients. “That’s what makes me come to work every day—the fact that these are people we care deeply about.”
Because of this true concern for their clients, the team at Harvest Group is committed to providing security, flexibility and market awareness within a financial plan that will last a lifetime and even beyond.
Pete Croatto is a freelance writer based in Newtown.
Kim Billingsley is a freelance photographer based in Doylestown.
Harvest Group Financial Services Corp.
1707 Langhorne-Newtown Road
Langhorne, PA 19047
Phone: 215-860-6056
Web: www.harvestgroupfinancialservices.com
Any information contained herein should not be construed as tax or legal advice. It is always recommended that you consult a qualified tax or legal professional regarding your personal situation.
Registered representative offering securities and advisory services through Centaurus Financial Inc., a registered investment advisor. Member FINRA and SIPC, Supervisory Branch: 3902 State Street, Suite 101, Santa Barbara, CA 93105, 1-888-569-1982. Harvest Group Financial Services and Centaurus Financial are not affiliated.
