Community Wealth Management
In August 2014, Community Bank teamed up with Pinnacle Trust to incorporate Community Wealth Management (CWM) — a comprehensive wealth management service.
Community Bank’s goal is to provide an ever-expanding range of financial services, including services delivered with the personal attention and friendly environment that our customers expect and deserve.
Pinnacle Trust is one of Mississippi’s fastest growing wealth management companies, and its only independent trust company. With approximately $800 million in assets under management, Pinnacle Trust provides comprehensive financial solutions for clients in 23 states.
Community Wealth Management services include asset management, financial planning and trust services throughout the Community Bank system.
Our investment process begins by evaluating where we are in both the cyclical and secular cycles. This assessment becomes the basis for our strategic asset allocation – in other words, how your portfolio should be allocated between stocks, bonds, cash and other investments. We then deploy top-tier institutional money managers to fill each of these asset classes.
Utilizing some of the best independent research in the world, we follow-up by running a tactical overlay on your portfolio. Non-correlated asset classes and strategies are utilized to limit volatility and boost long-term returns. Finally, we emphasize tax efficiencies by using IRAs and other qualified accounts to hold assets that produce significant taxable income. In your taxable accounts, we do loss harvesting to limit capital gains. These efforts aid in compounding your returns over time.
As you meet with our team, we will work with you to discover where you are in life’s journey, and dedicate ourselves to helping you achieve what you want for the future. Our wealth management team will help you minimize risk, review your tax situation, address your investment goals, and plan for your future retirement and legacy.
After a lifetime of hard work, you want to protect your assets as they pass to your heirs. Trusts can be an efficient way to help protect your family’s future and provide for the well-being of your beneficiaries.
Corporate Retirement Plans
Changes in regulations and increased scrutiny from the Department of Labor and IRS have put significant pressure on employer sponsored retirement plans. Many employers find it burdensome and difficult to comply with their fiduciary responsibilities. In some cases employers do not even realize what their responsibilities are and the potential actions that can be taken against them.
Pressure on investment advisors to take a fiduciary role on plans (thus to act in the best interest of the plan and its participants) is forcing advisors and financial services firms to either be “in” or “out” of the retirement plan business.
After analyzing the pressures on both employers and financial services firms, as well as the current retirement crisis in America, we decided to make a substantial commitment to the retirement plan business. We did so by recruiting some of the industry’s best talent and forming a team that can serve both plan sponsors and their participants. Our mission is to serve plan sponsors by aiding them in fulfilling their fiduciary duties while preparing plan participants for a secure retirement.
We encourage all customers to learn more about the services offered, and discover all the ways they can personally benefit from interactive consultation. Our Community Wealth Management team, with proven experience, can help you approach any financial hurdle and tailor solutions to fit your personal situation and desires.
Contact your local Community Bank to learn more about what Community Wealth Management can do for you.
Chief Executive Officer
D. Patrick Franklin, CSOP
EVP & Chief Operating Officer
Chief Financial Officer
Reid Davis, CWS®
Chief Investment Officer
Patrick Kingsmill, JD
Senior Vice President, Director of Fiduciary Services & Trust Counsel
Martin Palomo IV, CWS®
Senior Vice President, Financial Advisor
Kristy Launius, CPA
Vice President, Director of Retirement Plan Services
Corporate Retirement Plan Consultant
Corporate Retirement Plan Consultant
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“Our relationship with Community Bank is better described as a valued partnership than a customer vendor relationship. Community Bank’s culture centers around the human relationships. They invest the time and energy to get to know individuals in our organization and understand what will add value to our current situation. They work hard to optimize that value and the result has been a highly transparent and efficient relationship that has indeed optimized our organization’s objectives. It is a banking relationship that goes beyond the products themselves and continues to be viewed as a valued partner for our organization.”