Private Banking & Lending

Latest Spring 2017 Quarterly Newsletter In this issue, Tracey Baker, CFP, reflects on current markets as we head into the summer months. Kevin Donovan, CFA, compares performance of "Actively" vs. "Passively" managed funds. Parker Trasborg, CFP, discusses the implications of several common estate planning pitfalls. Read about the tax related benefits that can arise from making Qualified Charitable Distributions. Jessica Ness, CFP, talks about our Day of Service when we partnered with one of our favorite local service organizations for the second year in a row. See how our clients have two different programs to track their CJM portfolios. January 2017 Audio Update Join Tracey, Brian, Kevin and Tim as they discuss CJMs expectations for the markets in 2017, a discussion on small cap equities as well as Tims thoughts on income distributions in retirement. Newsletter & Podcast Archive

The Situation

Ken, a senior executive at a global IT company, and his wife Laura were in the process of relocating to another state for Kens job. With young children just out on summer recess, Ken and Laura had to move quickly to find a neighborhood with good schools in which they would be comfortable. After locating several communities that might work for them, they discovered that most of the homes in these areas were either priced outside of their price range or just too old to meet the needs of their growing family. Ken and Laura decided to buy a home, tear it down and rebuild it, but were concerned about how to manage the mortgage process for this type of a project.

The Solution

CJMs team recognized early on that rather than having Ken and Laura spend countless hours with mortgage brokers trying to secure lending from banks, it made more sense to see if it was possible to customize a more tailored approach to their irregular cash flow needs using their investment portfolios.

Through CJMs relationship with Pershing, CJM has the ability to access private banking solutions from BNY Mellon, one of the oldest and largest banks in the world with over $26 trillion in deposits.

CJM was able to structure an investment credit line against Ken and Lauras personal investment portfolios that allowed them to withdraw needed construction funds on their timetable without having to sell off parts of their portfolio, incur long term capital gains taxes in the process, or have to go through the long and arduous process of mortgage underwriting. The customized credit line for Ken and Laura was straightforward, and approval was granted in a matter of hours rather than weeks compared to normal mortgage banking underwriting.

Value To The Client

What could have been a very slow, time consuming, costly, and confusing process became a flexible and manageable situation as CJM understood the clients irregular cash flow requirements. BNY Mellons broad array of private banking services allowed CJM to deliver a customized solution to meet their clients needs without compromising their long-term wealth strategies.

More Solutions

At CJM we understand that no two clients are alike and real world problems require practical and timely solutions. The CJM team brings together the best and the brightest in the areas of investment, tax, insurance, financial planning & wealth management to resolve each clients particular issue(s).