Private Banking & Lending

Latest Fall 2017 Quarterly Newsletter This issue includes some thoughts from the retiring Senior Managing Partner, Tim Jones, as he looks back on his time in the business over the last 30 years. This issue also includes a tribute to Kim McLeland, one of the retired partners at CJM who passed away suddenly earlier this year. We round out the newsletter with articles from Kevin Donovan on investments, Parker Trasborg provides us with his thoughts on buying a new car, and pictures from Halloween. Enjoy! October 2017 Audio Update Dave, Kevin, Tracey and Tim share their thoughts on the markets so far this year, expectations for the remainder of the year, an update on Congressional bills making their way through Congress and finally some thoughts on protecting your credit given the recent Equifax security breach. 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).