Spotlight on Southwestern Illinois: Banking and Finance
Nathan Klitzing, CFP, Partner and Principal Wealth Advisor, Cambridge Capital Management LLC
By KERRY L. SMITH
Founded 15 years ago as part of the Diel & Forguson Financial Group, Cambridge Capital Management has been counseling clients in how to make the best financial decisions to achieve their long-term goals.
As partner with founder Ken Diel and as principal wealth advisor, Nathan Klitzing has been a leader at Cambridge Capital for more than six years. The firm’s capacity as a registered investment adviser enables Cambridge to offer fee-only investment management and financial planning services to individuals, businesses, trusts, partnerships, non-profit organizations and retirement plans.
“Our unique independent status allows us to remain impartial in our advice,” Klitzing said. “We receive no benefit from brokerage firms, no commissions, no finder’s fees. Therefore, we’re free to focus strictly on developing and implementing disciplined investment and financial planning strategies.”
Looking at a client’s entire scenario — including tax treatment, Social Security planning, a retirement timeline and quality of life goals — is integral to Cambridge’s long-term synergy with clients. “When you’re in the wealth distribution phase, it’s an entirely different picture than when you’re in the accumulation phase,” said Klitzing. “With current retirees, we make sure we have a plan to manage longevity risk.”
Cambridge’s three main categories of clients are the emerging affluent (ages 30 to 45), those whose retirement is on the horizon (ages 50 to 65) and current retirees.
Index funds - mutual funds whose portfolios match or track market indices such as the S&P 500 — have become much more prevalent, according to Klitzing, since 2008-2009 due to their low expenses as compared to funds with pricey “active” managers. “The losses that many investors experienced five and six years ago created deep, potentially generational scars,” he said. “Because of that, we don’t see as much exuberance when markets are high and more apprehension when markets are low. Since then, it’s been less of an investment conversation with our clients and more along the lines of a wealth management process. I think that’s a good thing. Clients are savvier and are engaging more with their financial advisers. We welcome that dialogue.”
Klitzing earned his bachelor’s of science degree in finance from Southern Illinois University Carbondale.
His professional service includes membership in the SIU Alumni Association, the Financial Planning Association and the National Association of Fee-Only Financial Planners. Personally, Klitzing is a coach for O’Fallon-Shiloh Mighty Ball Soccer.
A Shiloh resident, Klitzing and his wife, Annie, have two daughters and are expecting a third daughter in December.
TheBANK said it has built a reputation on innovative products and customer service since its founding in 1868. Clients say that reputation is well-earned.
“I got exactly what I was looking for with TheBANK of Edwardsville,” said Chuck Joley, of the Belleville law firm Joley, Nussbaumer, Oliver & Beasley, P.C. “The people there have been very accommodating, friendly and available to me 100 percent of the time.
“My relationship has been so good, in fact, that I’ve transferred all of my personal accounts to TheBANK as well. Once I saw how TheBANK operated on the business side of things, I decided to make them my exclusive bank for all my financial needs.”
The institution ranks 10th in deposits among retail banks in the St. Louis market, and it’s No. 1 in Madison and St. Clair counties where all of its 18 branches are located.
Mike Marshall, vice president of finance and chief financial officer at Anderson Hospital in Maryville, said Anderson’s relationship with the bank goes well beyond products and services.
“Sure, TheBANK understands our operations, they’re proactive in meeting our needs, and they provide a wide range of financial products that help us meet and exceed our goals,” he said. “But really, it’s even more than that. While the great financial products and first-rate customer service we get are important, we truly believe TheBANK of Edwardsville has a strong desire to see our organization succeed, and that means everything.”
Mike Riley, owner of Professional Therapy Services in Belleville, cites what he feels is a true selling point.
“What sets TheBANK apart is that it’s a true community bank, helping make our communities great places to live,” he said. “So with TheBANK you get great customer service from people who know your business and want to help you succeed, and a bank that cares about the communities where it does business. It really doesn’t get any better than that.”