Through the years, CFG has evolved into a practice serving three distinct areas: Individual Investors, Farmers and Small Business Owners. In the beginning, our services focused on first-time investors seeking investment guidance. But as the years passed, more and more of our client base came from those with small businesses, farmers and individuals with IRA rollovers and inheritances. The common theme for all of these new clients was the need for retirement and business advisory services for today and beyond. Cornerstone Financial Group primarily works with businesses and individuals in Iowa and throughout the Midwest.
CFG owner and President Mike Moffitt felt that many people needed advice and guidance with estate planning or planning for retirement and were not aware of many financial opportunities available to them. At CFG, we seek to help people make informed choices when it comes to 401(k)s, other benefit packages, and investments. CFG is a firm designed around providing unbiased education, full disclosure of information relevant to making sound financial choices, and specific services most needed by our clients.
If you are a farmer, we understand that you are presented with a unique set of challenges not seen in any other industry. These challenges can be especially significant when you are approaching retirement and want to ensure your family farm continues to operate as your legacy. You can be faced with income tax liabilities, estate taxes and perhaps you want to ensure all of your heirs are treated equitably. We at Cornerstone Financial Group understand these needs and are committed to providing innovative and forward thinking solutions for farmers.
We also believe that as many small business owners approach retirement, they are not getting sound financial planning and strategies tailored specifically for them to allow their businesses to grow in enterprise value. Statistically, 80-90% of business owner’s wealth is tied up in their business.1 CFG can assist business owners sort through and identify the most effective strategies to allow for operational growth adding business value. Down the road when succession planning is needed, CFG can assist again by providing exit planning services.
Since controlling costs and achieving acceptable returns on investment are of critical importance, we focus on providing cost effective strategies. Our services are affordable to nearly any business or individual. Clients pay for our services through either a fee structure or on a commission basis.
Some clients choose the hourly or annual fees, which are negotiated according to the project.
Others choose to implement their planning decisions through the companies we are affiliated with. In this case, we receive commissions or asset-based management fees from these companies that compensate us for the work involved.
The fee based planning ensures we don’t promote one particular investment over another while the commission system can sometimes make possible lower negotiated financial planning fees for the client. In either case, all costs are clearly outlined.
To help maintain objectivity, our company policy is to not be captive to any one financial services vendor. As a result, we work with dozens of fund companies, separately-managed account providers, life insurers, health companies, retirement plan administrators, accounting firms and law firms on a regular basis.
1 – E.P.I. Exit Planning Institute, Exit Planning, 2015