Can you tell us about your background and how you came to work as a financial advisor?

I started at Prudential Securities back in the mid-nineties. I was working at Salem Five Cent Savings Bank as a call center manager, and we had set up a call center within the bank for the purpose of working with different divisions, mortgage marketing in general, and so forth. A friend of mine eventually recruited me to Prudential. I joined Prudential, went through their training program and got sent down to Wall Street for a month with a class of recruits. I was given a cold calling list and essentially had to go “dial for dollars.” When you go to New York, they say, “Look around, 80% of the people you’re sitting here with are going to fail.” And they weren’t kidding. 

I failed for many reasons, but principally, I hadn’t developed enough sales skills yet. I really enjoyed the introduction to finance and investing, but realized there might be a better path for me in this industry. Rather than the model of selling something to somebody for commissions, I wanted a more client-focused approach. That’s when I found out about the CFP and the role of registered investment advisors. I affiliated with another company after Prudential, which led me down the road to becoming an advisor.  

What’s your favorite thing about working at Milestone?

We’re client- and financial planning-focused. We are fiduciaries for our clients, and I think the culture here supports that across the board. We have been growing at a great rate since I’ve been here, and I’ve had some success with bringing in new clients, but I don’t feel pressured to do that. I feel an obligation to just do the best job I can. Also, we’re always learning, and that’s another great thing about our firm. 

How do you think the team-oriented approach here at Milestone differs from other approaches?

Well, I’m a fan of a team approach; I think it’s needed. Having more than one person in client meetings is helpful because the clients have a relationship with multiple people at Milestone. If I’m sick or if I’m busy, they have someone else they can reach out to for help. Having that depth of practice is helpful. For example, I can ask Jennifer Climo, a CPA and an owner here at Milestone, about a complicated tax situation, and she has no problem stopping and helping. I don’t think that is as prevalent in other companies as it is here. 

What advice would you give to individuals considering seeking financial advice for the first time and might be nervous or hesitant to do so?

The first thing to do is get your house in order. Building your net worth statement helps us approach your situation from a big-picture perspective. This will help us better understand your priorities and what you want to accomplish in the future. Then we can start to work on providing recommendations and working on your plan. This includes estate planning – making sure your family is protected if something happens to you – and is often tax-related, such as preparing tax projections and then deciding how much to fund retirement accounts and if making partial Roth conversions is appropriate for you. We can then focus on asset allocation and positioning your portfolio to meet your future goals.  

I like to think about it this way: If my sink pipe is leaking water and there’s water flooding onto my kitchen floor, I don’t have the knowledge or the expertise to fix that. I might be able to plug the leak for a brief period, but I need to hire a professional. When it comes to managing finances while living a busy life, you can only do so much. Having a trusted advisor who can oversee these complex, ever-changing things is helpful and quickly becomes worth the fee.  

What value do you believe Milestone adds that makes us worth it to clients?

First and foremost, we are transparent with our fees. Clients know what they are paying here at Milestone. Often, I’ll ask people with annuities or other products, “What are you really paying for this?” and the most popular response is “I’m not sure.” That’s a problem because it’s not transparent. It’s better to understand what you’re paying for and how you’re paying in a clearly defined structure. We’re upfront about our fees, and the services we provide in addition to investment management make us well worth the investment. 

What’s a hobby or passion outside of work that you think influences your work in a positive way? 

Thankfully, I’ve got many passions and stuff I like to do; I stay busy. I belong to a small golf club, and I’m getting back into playing more. Golf tends to be a time when you talk to the people you’re golfing with about many different things. The goal in golf is to get the ball in the hole. However, everyone does it differently. Some people can drive the ball far, while others are great at putting. Your financial journey is no different, as there are common practices in place, but the process of getting to your goals is different for everyone. 

What do you consider to be the greatest strength you bring to the Milestone team?

Well, I think I’ve always felt that I can talk to people easily, and that makes it easy for my colleagues and my clients to work with me. I’m a good listener, and I just try to do the right thing for people. When you hire me to do a job, I’m going to be your advocate. And that’s somebody you want to work with ‒ someone who will go to bat for you and someone who is always there to help. 

 Steve is a valuable member of the Milestone team, and we are grateful to have him on board! Our team is dedicated to helping clients fulfill their financial goals while getting to know them on a personal level. Although there is a lot to consider, you don’t have to do it alone. If you need assistance with your tax planning or retirement planning in general, please reach out to our team.