2023 State of the Company: Looking Ahead with Intention, Discipline, and Sustainability

As inflation, interest rates and other market forces have had us all wondering which way is up, our team has maintained a laser focus on client service – both adjusting to new circumstances on the fly and methodically updating processes, all focused on maintaining our commitment to the white-glove, concierge service our clients expect and deserve.

As you’ve likely experienced in other facets of your life and work, businesses across the service sector are feeling the pinch of skyrocketing costs and a whole new labor market. Regulations are tightening across most industries as well – accelerating dramatically in the financial services sector. Unfortunately, that uncertainty trickles down to customers in the form of reduced service quality, higher fees, or even a mix of both.

Rest assured: Compromising service is never on the table at CWM, despite rising complexities and costs of doing business. For example, while major financial institutions and custodians struggle with staffing turnover and service continuity, we’re thankful our team is well-equipped to engage in the follow-up needed to minimize administrative delays and ensure client transactions are as seamless as possible. This has become a greater and greater challenge as we ourselves experience service delays, lengthy hold times, and increasing hurdles when working with outside entities to provide concierge level service to our clients. To date, we've done what we can to adjust our processes and absorb additional expenses on many different fronts - and while more changes may be on the horizon, we'll continue to put clients first.

Moving into 2024 and beyond, we’ll be taking steps to sustain a bespoke level of service, continue investing in a great team, and set a strong foundation for the years – and decades – to come.

2023: A Year of Expansion

This year, we were thrilled to roll out our menu of individualized investment strategies and give our clients the opportunity to choose your own investment adventure. If you haven’t delved into the options yet, the start of the new year is a great time to reexamine your approach. (Of course, that’s entirely optional.) Many clients already benefit from our original risk-adjusted models, which are well-suited for those looking to maintain their lifestyle amid tumultuous market cycles.

We’ve also made some investments behind the scenes to support an expanded service menu, including our new client portal, infrastructure to support the internal team, and tools for advisers that will make portfolio reviews more dynamic.

Of course, our people are the heart of our ability to deliver an exceptional experience for you. We’re proud that CWM remains a magnet for highly motivated, capable and caring financial professionals – and we’re excited to introduce a few exceptional new colleagues in the months ahead.

In addition to expanded capabilities and offerings, we're taking a fresh look at client enrichment and events in 2024. We'll be exploring ways to bring you useful information more frequently in a variety of formats including webinars and gatherings with trusted and vetted experts, to ensure clients education and materials are widely accessible. We're also focusing on interactivity and personalization, so you can easily get the information you need when you need it. Read more about our expanded educational offerings here.

Highlights we're looking forward to in 2024 include:

• Meeting our capital campaign goal in honor of Linda McCormack. We’re on track to hit $100K in 2024 thanks to the generosity of our CWM community, and we are thrilled to take the next step in our partnership with PAWS to dedicate an adoption suite in Linda’s name.
• Offering timely cybersecurity education. Scammers are getting more sophisticated every day, and it’s essential to stay current both at work and at home on operational security to protect your finances and identity. We’ll partner with cybersecurity experts to bring you essential, up-to-date steps for spotting scams and preventing security breaches and identity theft.
• Delving into conversations around generational wealth transfer. We help families navigate these tough conversations every day, and we’re developing materials and easy-to-use tools that will help families make those decisions now and avoid confusion and miscommunication later.

Planning, Discipline, and Proactive Service

Since 2020, many of us feel like we’ve been in reaction mode: Putting out fires, addressing the most pressing problems and allowing less urgent items to sit on the back burner. I’m proud of our CWM team for remaining more proactive than reactive in our focus on top-tier client service – and we’re set to optimize that in 2024.

Our firm was founded on the principle of building and maintaining deep, trusting relationships with clients, and that will not change. As we explore new avenues to engage and share information, we’ll maintain an emphasis on face-to-face interaction, family events, and community engagement. Our goal is to meet our clients where they are in their financial journey and communicate in the way that’s helpful for them – because everyone learns differently.

Decisions we make this year will have ripple effects for decades to come. We’re setting the stage for a CWM that will grow with the next generation – sustainably, holistically, and always with intention.

If you have questions or would like to schedule an appointment with your CWM advisor, please don’t hesitate to contact us or call the office at (425) 778-6160.

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P.S. Years ago I picked up "Rule #6: Don't Take Yourself Too Seriously" from Benjamin and Rosamund Stone Zander's The Art of Possibility. In fact, it's the inspiration for CWM's 33^rd Fundamental - Have Fun. I'm pleased to say that my husband (and business partner) and I took that advice to heart and recently caroled dressed as reindeer with a crew of fellow revelers. The world throws enough serious problems our way - it's good to take a time-out this holiday season, and every day, to laugh with someone you love. Wishing you and your family much joy in 2024.