Private Banking & Lending

Latest Winter 2018 Quarterly Newsletter This issues includes reflections from Brian Jones, CFP, on recent market volatility as he draws parallels to the most recent Super Bowl. Kevin Donovan, CFA, discusses how market losses can be tough but in general the market produces positive returns. Mark your calendars for our annual Shredding Event on May 18th and read about which documents to keep versus shred. Lastly, we share the recent Washingtonian Magazine article that quoted Jessica Ness, CFP, and her advice for handling children's allowance. January 2018 Audio Update In our first podcast of 2018, join us as David Greene, Kevin Donovan, Jessica Ness and Brian Jones share their thoughts on what worked in 2017, what to expect in the markets in 2018 as well as an update on the new tax bill just passed by Congress. 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 Kenís 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

CJMís 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 CJMís 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 Lauraís 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 clientís irregular cash flow requirements. BNY Mellonís broad array of private banking services allowed CJM to deliver a customized solution to meet their clientís 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 clientís particular issue(s).