tri-star collection - Tri

T R I - S TA R C O L L E C T I O N
When Gene Pickelman and Larry
Preston founded Tri-Star Trust
Bank, one of their main goals was
to bring value to their clients’ lives
by providing comprehensive wealth
management services.
But they also intended Tri-Star to be something
much more. They wanted to build long-lasting
relationships with clients – relationships based
on trust and care. And they wanted to create a
professional environment where employees would
enjoy work and receive respect.
Beyond that, they believed Tri-Star’s bigger
purpose should be to make a difference in the
communities it serves.
Tri-Star combined all these goals into one
guiding philosophy: Caring for Our Clients, Each
Other and Our Community. By carrying out this
purpose daily, Tri-Star has distinguished itself from
its competitors.
02
G ene C . P i ckelman
LA R RY L. PR E STON
Director / Founder / President / CFP®
Director / FOUNDER / CEO / JD
Passion and purpose – these things drive Gene Pickelman
every day. And they are what drove him to leave a comfortable
senior management position at one of the region’s largest
banks to take the risk of joining Larry Preston in starting
Tri-Star Trust Bank. Together, they saw a growing need
for a local trust bank made up of professionals who were
committed to serving clients (passion) and giving back
to our community to make it a stronger, vibrant place to
live (purpose).
Larry Preston’s focus has always been about seeing the
bigger picture, about making dreams a reality and working
for the good of others. Coming from the practice of estate
and business law, he saw the opportunity to better serve his
clients. That’s when he began sharing his ideas about creating
a business that focused on taking care of people’s wealth
management needs with his friend, Gene Pickelman. From
there, Larry and Gene set out to create Tri-Star Trust Bank,
whose first priority is always the client.
Gene followed that passion and purpose by founding
Tri-Star Trust Bank with Larry. He saw that there was a
greater purpose to be served by providing Tri-Star’s unique
form of wealth management. “We knew there were people
who wanted comprehensive financial management in a totally
objective manner,” Gene says. “And that’s what we set out
to do: doing what’s right for our clients and developing an
objective plan for our clients to meet their financial needs.”
Except nothing quite like Tri-Star existed at that time. This is
where Larry’s strength of seeing the bigger picture came into
play. He and Gene knew the philosophy they wanted to base
the company on, as well as the type of professionals they
wanted to employ – not only the very best individuals in every
field of wealth management, but also people actively involved
in the community. Larry saw how each of these elements
affected the other: “If you want great people to work for you,
you have to have a great community to offer them. Improving
the quality of education, arts and entertainment in the
community is good for our employees as well as our clients.”
The professionals at Tri-Star focus on our mission of
“Simplifying Life by Creating Wealth Solutions through
Understanding” and values of “Caring for Our Clients,
Each Other and Our Community.” Gene has set a level of
expectation and integrity for Tri-Star to stay true to these
values, and anyone who meets him is instantly assured of
his own personal commitment to them.
“It’s all about relationships – with clients, with each other and
with our community.”
While encouraging Tri-Star’s employees to get involved, Larry
sets a great example, serving on boards of directors and
making sure Tri-Star is involved in as many ways as possible
in the communities we serve. Tri-Star’s success over the years
has only driven his vision further – contributing to over 100
nonprofits and growing.
03
Board of Directors
When Larry and Gene started Tri-Star, they believed that
if they genuinely cared for and addressed their clients’
financial needs and used Tri-Star’s success to give back to
the community, the business side of Tri-Star would take care
of itself. They also believed that the Saginaw community
needed a local institution like Tri-Star.
With these beliefs as a starting point, Larry and Gene
attracted some of the community’s leading figures to
become shareholders and board members. Their names
are synonymous with giving back to the community: Dick
Garber (President of Garber Buick, Inc.), Mark Flegenheimer
(President of Michigan Sugar), Dr. Waheed Akbar (M.D.
Orthopedic Surgeon of Akbar & Akbar), Dr. Rao Gudipati
(M.D. Cardiologist of Michigan CardioVascular Institute),
Mike Bierlein (President of Bierlein Companies), Mort Weldy
(Former Principal at Braun Kendrick and Finkbeiner, PLC)
and Karolyn Goslin (Former Assistant District Manager for
Merrill Lynch). Over the years, they have been joined by other
notable community leaders from Saginaw including
04
Top row (left to right): Mark
Flegenheimer, Pete Shaheen,
Dick Garber, Joe Ruth; Middle row:
Mike Bierlein, Mort Weldy, Karolyn
Goslin, Greg Brogan, Mitzi Dimitroff;
Bottom row: Frank Polasky, Dr. Jim
Bicknell, Dr. Waheed Akbar,
Don Sheets, Dan Kozakiewicz
Peter Shaheen (President of HORIZONS Conference Center
and Vice President of SSP Associates, Inc.), and Frank
Polasky (Senior Partner of Frank M. Polasky, PLLC) and
enhanced with members from other communities such
as Don Sheets (CFO and Vice President of Dow Corning
Corporation), Dr. Jim Bicknell (CEO of MidMichigan
Physicians Group) and Dan Kozakiewicz (CEO of Three
Rivers Construction) from Midland, Mitzi Dimitroff (Owner of
RDS Management and a member of the Rowley family who
has been instrumental in the renaissance of the Bay City
downtown area) from Bay City, and Greg Brogan (Managing
Partner for Brogan, Reed, Van Gorder & Associates) and
Joe Ruth (Executive Vice President and COO of Sparrow
Health System) from Lansing. The board’s directive has been
consistent: Provide the highest quality wealth management
services and be a leader in community service. Of course,
doing this means less corporate profits, but it best illustrates
Tri-Star’s priorities. These early underpinning tenets and
board directives drive all Tri-Star decisions.
SIMPLIFYING LIFE
by Creating Wealth
Solutions through
Understanding
With hundreds of individuals and
companies providing financial services,
why choose Tri-Star Trust Bank?
First, consider that since we began in 2000, hundreds of clients
have trusted the management of their financial affairs to Tri-Star.
In fact, Tri-Star is now managing more than $800 million.
What factors account for this success?
Embodied in Tri-Star’s mission statement are three elements
that set us apart:
• focusing on the big picture
• the importance of trust
• the power of teamwork
We help clients assess if they are on track to live the lives they
want. We understand that financial matters can be complicated,
so we value simplifying our clients’ lives.
Focusing on the Big Picture
To help our clients achieve their financial goals, we spend as
much time as necessary to learn and understand their financial
lives, needs and wishes. By doing so, we can then create
realistic financial plans for their long- and short-term goals.
This comprehensive, “big picture” approach allows Tri-Star
to objectively address investment market trends and tax law
changes relevant to our clients. We then explore alternative
solutions in a pragmatic way.
The Importance of Trust
Professionals at Tri-Star make complete objectivity and trust key
components in serving our clients. Many people are unaware
that in the financial service industry there are two standards:
On the other hand, most wire house brokers and insurance
and annuity professionals are only obligated to recommend
investment products suitable to the client. This difference may
sound subtle, but it is very important. With Tri-Star, our clients
always know all of our actions, including choosing investments,
are in our clients’ best interest, not just suitable.
The Power of Teamwork
Financial planning can be intricate and complex. There are
numerous aspects to the financial world, including cash flow
analysis, investment planning, taxation, elder-care planning,
retirement planning, insurance, estate planning and trust
services. One advisor cannot be an expert in all these fields.
So we assemble a team of Tri-Star professionals to make
sure our clients receive expertise in all areas. This approach
ensures the right person is there to help them make the best
choice every time.
Knowing our clients’ unique circumstances, the Tri-Star team
can provide the appropriate credentialed, experienced and
knowledgeable professionals to analyze and create a complete
plan. This plan addresses both “big picture” goals and the
intricate details of each situation. This vital team can then create
more powerful financial planning.
Other Reasons for Choosing Tri-Star:
Giving Back to Others
Along with enriching the lives of our clients, Tri-Star also
believes in enriching our communities. This has become a
key component of Tri-Star’s culture, and collectively, we have
invested considerable time and financial support in
our communities.
Inadvertently, this has attracted employees who also believe in
giving their time and talent while expecting nothing in return.
Individually, all our employees volunteer to make a difference in
the organizations they are passionate about. For the employees
at Tri-Star, it’s in their DNA to give back. They’re phenomenal
people, and they’re going to do everything they can for our
clients and the community.
“Fee only” advisors, like those at Tri-Star, are fiduciaries who are required to give independent advice and recommend
investments that are in the client’s best interest – regardless
of their own compensation. The only compensation Tri-Star
collects is based on the value of assets managed.
05
From the start, teamwork has been an important part of Tri-Star’s
operating philosophy … and our success. Better teamwork, to us,
means two things.
First, it’s the quality of the people we assemble. At Tri-Star, we’re proud
to have people who are all among the region’s most experienced and
accomplished in their respective fields. Our staff was truly hand-picked
to ensure we would have people with the right philosophy, work ethic,
experience and expertise.
Second, that mix of expertise is a vital part of a better asset
management team. It’s a core operating principle for us: we bring in a
team of experts to make sure we offer the services that are best for our
clients’ specific needs.
That means we have experts in a wide range of disciplines …
all ready to work for them. On the following pages, we’ll introduce
some of those people.
We’ll also give a first-hand look at what happens with the right team:
building great camaraderie and professional respect. We’ve collected a
number of stories in which our staff members write about their
co-workers – and how they’ve been impressed by service above
and beyond the call of duty. Read more about those stories at
www.tristartrust.com/collection.
06
Table of Contents
Financial Planning | 08
In today’s world, we understand people have various reasons for consulting with a
financial planner, whether it is a lack of time or experience, the desire for objectivity or
a complex financial situation. At Tri-Star, financial planning is a process, not a product.
Our goal is to help walk our clients through that process so they will meet their needs for
today and tomorrow.
Investments | 10
Investing can be a complicated process, but it doesn’t have to be. At the end of the day,
most clients want to know someone understands where they are today and where they
want to be in the future. From this understanding comes an investment portfolio designed
with our ultimate job in mind – delivering the results necessary to achieve your objectives.
Our Investment Process | 12
Tri-Star’s investment management process is an extension of our commitment to our
clients, and one that differs from most other organizations.
Trust Administration | 14
Tri-Star brings value to each of our clients through timely, insightful services. Tri-Star’s
credentialed and experienced professionals address and satisfy the needs of high net
worth individuals, charities, estates and trusts, regardless of the complexity of issues
facing the client.
Charitable Planning | 16
Tri-Star’s Charitable Giving Division designs and administers the charitable gifts of our
clients. We accomplish this through asset management, charitable distribution strategies
and governance policies.
Employee Benefits Programs | 18
Tri-Star’s Employee Benefits Division serves two distinct groups: employers and business
owners and their employees. We’ve served clients from as near as the Great Lakes
Bay Region and as far away as New York and California – making saving for retirement
accessible to average people. Our service includes plan set-up and design, investment
selection and monitoring, and compliance and government regulations assistance.
Behind the Scenes | 20
Much of our success can be traced to professionals who are generally not meeting
or talking to our clients – but working behind the scenes. They play a significant role in
Tri-Star’s success.
A Big Step into Little Bavaria | 22
Perfect synergy: Tri-Star Trust Bank and Frankenmuth share community values.
Working Capital | 24
Filling an important niche in the Greater Lansing market. An objective,
independent and comprehensive approach.
Expanding Our Reach | 26
A focus on similar values makes Midland and Tri-Star a natural fit.
07
In today’s world, we understand people
have various reasons for consulting with
a financial planner, whether it is a lack
of time or experience, the desire for
objectivity or a complex financial situation.
At Tri-Star, financial planning is a process,
not a product. Our goal is to help walk
our clients through that process so that
they will meet their needs for today
and tomorrow.
The first step in financial planning is
to understand our clients. When they
provide us with complete information,
we can fully understand their needs and
resources to customize recommendations
fitting them specifically. Tri-Star takes the
time to analyze that information to make
well-informed decisions. To do this, we
utilize software to help evaluate each
personalized situation, including running
“what if” scenarios so that our clients
can see the benefit or consequence of
a particular financial decision. Then, we
craft a plan that includes client input in a
well-defined strategy that is simple
to understand.
Tri-Star’s financial planning team
understands that life happens. That is why
we create a financial plan that works as a
living document, changing as life changes.
We recommend periodic updates to make
sure that our clients continue to be on
target to achieve their goals.
08
by Jack Kidwell on Sandy Worner
I have been privileged to see how well our financial planning
area works with one of our clients in particular. This client
had inherited money from a parent and was not sure of how it
would affect her monthly spending, cash flow, asset allocation
and several other details. Sandy Worner was asked to meet
with our client and gather information and details to provide a
concise plan. I don’t think Sandy had any idea what this
would lead to.
As a person with newfound wealth, our client began to get the
“bug” about owning real estate. Declining real estate values
created opportunities for “cheap” deals that were attractive
to many investors, including our client. As a continuation of
the inheritance planning work that was started, Sandy was
provided analysis and details on different house and land
opportunities that would fit into the plan they agreed to.
SA N D R A K . WOR N E R
Based on the variety of “what if” scenarios, the client was
able to make an informed decision that resulted in the
purchase of a cottage as a part of her net worth. She has
been enjoying her cottage with family and friends for a few
years now.
Over time and as needs arise, Sandy has continued to
coordinate discussions with me and the client about other
actions and events that happen and make a difference to the
financial plan. A significant change in circumstances occurred
when the client became engaged to be married. This meant an
updated plan was needed with a new monthly budget and a
budget to buy a new house.
Sandy took the lead on this with the new couple. She gathered
the information and suggested new “budgets” for cash flow
and a new home. She also advised on mortgage matters that
were on the table. Now married, the couple is in their new
home (within the budget amounts suggested) and the plans
have been working well.
Vice President, Director of
Financial Planning, CFP®, CPA
Every person is unique in their lives, in their goals and in their
needs. As a financial institution noted for our unique form of
wealth management, Tri-Star understands this. That’s why
one of the first people clients meet with is Director of Financial
Planning Sandy Worner.
Sandy understands that when it comes to financial planning,
there is no “one size fits all” plan. She says, “Our clients are
happy because we develop plans that are as unique as they
are.” Sandy sits down with each client to understand his/her
specific situation and develops a financial plan accordingly.
Once the plan is in place, Sandy remains available to field
any questions the client has such as insurance, investing
or changing asset allocations. She is there to help with
whatever they need as circumstances and opportunities
change. This is another area where Sandy embodies a
Tri-Star core value – objectivity. “There’s no incentive for me
to recommend one investment strategy over another. I focus
on what’s in the best interest of the client,” she says. “You work
too hard for your money. You need somebody who’s going to
help make the right decision for you.”
09
Investing can be a complicated process, but it doesn’t have to be. At the end of the
day, most clients want to know someone understands where they are today and
where they want to be in the future. From this understanding comes an investment
portfolio designed with our ultimate job in mind – delivering the results necessary to
achieve your objectives. Generating investment performance to beat some abstract
market benchmark is not usually on most people’s priorities list. Although we produce
competitive performance, the tangible investment results and the things they allow
our clients to do are what they generally care about most. Understanding these items
of importance and our clients’ ultimate goals precedes our making any investments
on your behalf. Once we understand, we can begin building the portfolio.
Being completely objective and collaborative with our clients is an important part of
the process. Once the mutually agreed-upon plan of action is developed, clients can
be as involved or uninvolved as they desire in decisions regarding the management
of the portfolio. Collaboration with our research partners, money managers and
service providers is also an important part of our process. Tri-Star partners with
quality organizations across the country to bring the best thoughts and expertise
to our clients’ portfolios. While the local Tri-Star personal service and expertise
are what our clients value and appreciate the most, it is important to note we have
access to some of the most respected and accomplished minds in the industry.
These organizations help us formulate strategies and provide input for parts of the
investment management process – many of them are highly proprietary.
When selecting a Chief Investment Officer, Tri-Star was looking for
a very special person – an individual who has a strong sense of
caring for clients and strong leadership skills. A professional who
is passionate about investments and experienced.
by Larry Preston on Steven Witten
One of the most important positions at Tri-Star is the Chief
Investment Officer. This person is responsible for leading our
investment department through the development of investment
strategies and selection of money managers and other investment
opportunities. It’s a position that requires the implementation and
monitoring of each client’s portfolio to ensure alignment with their
wealth management goals. At the same time, this professional
must be proactive with an eye on the perpetually changing
financial markets, not to mention being responsive to changes in
our clients’ lives.
10
Tri-Star’s national search led us to Sioux City, Iowa. There we
found Steven Witten working for a regional institution with
over 125 years of history. He and the team he led there had
responsibility for managing almost $2 billion of clients’ funds.
Steven provides the leadership that Tri-Star was looking for to
coordinate the efforts of our other investment professionals, in
addition to all our institutional partnerships. And he brings to us
the ongoing care for clients that is Tri-Star’s hallmark. Through
Steven’s leadership, Tri-Star continues to enhance its investment
services through better processes, stronger external partnerships
and the attraction of highly qualified portfolio managers. In
other words, Steven is making a difference for Tri-Star and all
our clients.
ST E V E N R . W I TTE N
Vice President,
Chief Investment Officer
One of the key elements of Tri-Star’s
mission is the power of teamwork.
We provide each of our clients with
a team of professionals to make
sure they are receiving the best and
most sophisticated service available.
Perhaps no one at Tri-Star better
understands and fosters the spirit
of teamwork than Chief Investment
Officer Steven Witten.
Steven leads the dedicated sevenperson investment team at Tri-Star, a
team with over 100 years of combined
experience in the investment
management and financial services
industry. Under Steven’s direction,
Tri-Star’s relationship with industryleading partners and money managers
has significantly expanded to provide
Tri-Star even more resources for our
clients. This is something Steven and
the rest of the investment team take
seriously. These partnerships provide
us a robust means to perform ongoing
due diligence and challenge our
thought process to make certain the
best ideas are incorporated into our
clients’ portfolios.
“The entire process employed at
Tri-Star is refreshing. I am thrilled to
be part of an organization and an
investment team that isn’t satisfied
with the status quo. We constantly
challenge our ideas, thought
processes and procedures. This
translates into a better investment
approach that’s grounded in strong
research and the collective wisdom
of our team and our outside partners.
At the end of the day, it’s all about
our clients and our community –
everything we do focuses on serving
them and pushes us to do it better.”
11
Tri-Star’s investment management process is an extension of our commitment to our clients, and one that differs from most
other organizations. It all begins with our core principles. We believe asset allocation is the most critical component in the
process. When we get this right based on our clients’ objectives, we have reduced the potential for negative surprises. We
believe protecting principal is important, and the prudent practices we use to protect it in a negative environment are preferred
to maximizing gains at all costs. Accumulating assets is a lifelong endeavor and excessive losses have a negative impact on
the probability of clients achieving their goals. Lastly, we believe in the power of diversification. Diversification further refines
the allocation decisions and helps further reduce risk.
From left to right: Bob Miller, Anthony Taylor, Adam Rogers,
Patty Enfield, Steven Witten, Matt Brege, Andre Buckley
12
Tri-Star’s unique Economic Scenario Optimization
Process plays a central role in helping us manage
portfolios according to these principles. The
optimization process helps us determine what
percentage of a client’s assets to invest in the
different types of assets. Historically stocks and
bonds were the primary investments within a
portfolio. We believe this is no longer adequate.
Tri-Star’s process relies upon several inputs including
targeted outcomes from the financial planning
process, global market and economic insights from
our partners, and forward-looking capital market
projections, another piece of the puzzle that is unique
to Tri-Star. The industry traditionally uses historical
risk and return figures to feed their optimization
process. We think this is akin to driving while only
looking in the rearview mirror. Tri-Star has access
to Callan & Associates, an institutional money
management consultant, advising on approximately
$2 trillion in assets, forward-looking risk and return
projections. This allows us to use projections based
on current economic and market realities, versus
purely historical averages.
Our process helps us determine how much should
be directed toward other types of investments –
investments incorporated to insulate a portfolio
against certain economic situations or provide a
means for an investor to reach a specific goal. It
is much more highly customized than the process
primarily used within the investment industry.
What occurs “behind the scenes” as part of the
ongoing portfolio management activity is equally
important. Once the portfolio is in place, the
investment team continues their due diligence and
oversight efforts. On average, portfolios are touched
65 times a year – through weekly, monthly and annual
review. All of this benefits our clients by ensuring they
have a high probability of achieving their goals, the
risks are minimized and quantified for each personal
situation, and they can have peace of mind that their
investments are being prudently managed.
13
Tri-Star brings value to each of our clients through timely,
insightful services. Tri-Star’s credentialed and experienced
professionals address and satisfy the needs of high net
worth individuals, charities, estates, and trusts, regardless
of the complexity of issues facing the client. We are held
accountable by internal reviews, the State of Michigan
Department of Insurance and Financial Services and, most
importantly, our commitment to the clients we serve.
of this woman I had brought along with me. In fact, she was
downright rude to Debbie.
by Larry Preston on Debbie Briguglio
Imagine how difficult it is when the person you’ve been
married to for almost 60 years passes away. Add to those
circumstances the fact that your spouse handled all the
investments, bill paying, house repairs and most all of the
other tasks of living together day to day. This was the
situation with one of our clients a few years back.
I had known the widow and her husband for years, so when
Tri-Star became trustee of the couple’s trusts, I volunteered to
meet with our new client. I asked Debbie Briguglio to make the
two-hour trip with me for this first meeting because I wanted
her to become the client’s Relationship Officer. When we
entered our client’s home, she seemed frail and had obviously
been crying. She was scared and anxious. Although she was
happy to see a face she recognized, she was very suspicious
14
So for the next few weeks, Debbie and I would make the trip
to our client’s home to help put things in order. To make sure
her bills were paid, she was eating right, and had someone to
drive her around on errands since we didn’t feel comfortable
with her driving.
Soon the change began. I found myself listening to Debbie
and our client chatting away, talking about a lot of things that
had nothing to do with our role as trustee. Finally, our client
mentioned it probably wasn’t necessary for me to make the
trip because Debbie could clearly take care of things for her!
And Debbie has done just that over the last four years: taken
good care of her. That’s what friends do. For them it’s birthday
cakes, visits on the weekends, being together at Christmas
time, sharing birthdays and sometimes just talking about the
way it once was when our client was a young girl.
I believe there is no one closer to our client than Debbie
Briguglio because they both have opened their hearts to
each other.
D e bra L. Brig u gli o
Vice President,
Relationship Officer,
Secretary of the Corporation
Exceptional service and enthusiasm are
two foundational components Tri-Star
established for itself and its employees
from the beginning. It is only fitting that
Tri-Star’s very first employee, Debbie
Briguglio, is the embodiment of both
these components. Debbie now serves as
Vice President, Relationship Officer and
Secretary of the Corporation, but she is
much more than that to the clients and
staff at Tri-Star. The first thing most people
notice about Debbie is her sincerity.
Debbie takes Tri-Star’s approach to
customer service personally. She serves
and stays in touch with her clients in ways
that let them know they are more to her
than clients; in fact, Debbie is often seen
as part of the family. Some of this is due
to the necessity of getting to know the
needs, goals and wishes of the client.
“The more you have a feel for things,
the more you can administer the trust
to do what they set out to do,” Debbie
says. “The more we know, the more we
can help.”
A major focus of Debbie’s work at Tri-Star
is to help make the dreams and desires
of her clients a reality. Sometimes this
means helping them struggle through the
difficult or tough times; many of Debbie’s
clients call her just to talk. This is because
Debbie took to heart Tri-Star’s passion for
taking care of people. “We knew what we
wanted to do: serve people well, ethically
and honestly. Everyone here goes all the
way to make people happy.”
15
J O H N W. KI DWELL
Vice President, Director of Relationship
Management and Charitable Giving
Specialist, JD
Caring for our community – it is evident immediately that the
entire staff at Tri-Star not only takes one of its core values very
seriously but also consistently acts upon it. But Tri-Star also
recognizes the desire of many of its clients to do likewise.
That’s where Tri-Star’s Director of Relationship Management
Jack Kidwell steps in to help others put their philanthropy
into action. He helps individuals and families establish what
they want their foundation or charitable trust to do and makes
it happen.
16
Coupled with this is Jack’s work with nonprofit organizations.
“In some organizations,” he says, “volunteers don’t completely
understand the complex laws, investments and regulations
for overseeing their funds. We help them with policies,
procedures and best practices so that they and their donors
will be comfortable.” Jack ensures that people who have a
charitable heart make the most of what they can give, and that a
foundation carries on its values and wishes to the benefit of all.
“What’s really important,” Jack says, “and what we’re here to
help with, is to fulfill the stewardship intentions in their hearts –
for people to want to do well for themselves, for their families
and for their community.”
by Gene Pickelman on Jack Kidwell
Jack has a unique ability to get to the heart of
what a client wants and needs, and the creativity
to find the right solution. For example, we had one
client who was the beneficiary to an irrevocable
trust. He had gotten himself into a credit crisis,
which was causing a problem with purchasing
a new home. Jack worked behind the scenes
with a local banking institution to use the trust
to secure the new home – and then to make the
house payments.
In another case, we had a couple who came to
us because they were disappointed that their net
income with a charitable remainder unitrust was
not generating the income they needed it to.
Jack dug into the new trust code and developed
a strategy that involved going to court and
changing the terms of a charitable remainder trust
so it better benefited all beneficiaries including
our client.
One of the most rewarding jobs at Tri-Star Trust Bank is
helping individuals, foundations and endowments be effective
stewards of the assets entrusted to them. Tri-Star also develops
procedures to comply with the legal and regulatory requirements
our clients face. These steps are not only for our charitable
trust clients but also for those who use private and community
foundations, endowments and donor advised funds to fulfill their
charitable purposes.
Our team sees our clients’ passion for using their resources for
the greater good of the community. These efforts are consistent
with one of Tri-Star’s core values of “Caring for Our Clients, Each
Other and Our Community.” Our innovative ideas and strategies
help our clients make a difference through their charitable giving.
Some clients come to depend on Jack’s unique
skills. He had worked with one gentleman to help
start a private foundation. The client enjoyed
working with Jack so much he then started a
charitable remainder trust. And Jack started
working with the client’s daughters, who lived all
over the country … who all had their own trust
accounts and didn’t like the service they were
getting. Over the course of several months, they
moved all those trust accounts to Tri-Star.
When the client passed away, Jack was
summoned to meet the family in Arizona. The
daughters handed him a flash drive, in an envelope
that read, “Make sure this file gets to Jack.”
It contained the information that’s usually lost
when a client passes away – account numbers,
usernames, passwords. And Jack was suddenly
called upon to help three daughters and four
grandchildren learn how to govern and manage a
private foundation.
The foundation is going strong today, but most
importantly it’s doing what the family wants it to
do: carrying on the values and wishes of mom and
dad to the succeeding generations.
17
JA N E L. HAGE N
Senior Vice President, Director
of Retirement Plans, ASPPA
Retirement Plan Fundamentals
I & II Certificates and Plan
Consultant I Certificate, AIF
The most important part of being a local
financial institution is being visible and
available to the client at all times. No one
understands this better than Tri-Star’s
Director of Retirement Plans, Jane Hagen.
As someone who handles the retirement
benefits for over 60 companies, both
large and small, as well as thousands of
employees, Jane is actively involved in each
plan and always on hand for any questions
participants may have.
In fact, Jane takes the time to visit each
employer every year and meet with their
employees. At these meetings, she not only
provides them with important information
on the plans but also her personal contact
information. “We want them to know who
they’re dealing with, we want them to
feel comfortable and we want to be able
to answer their questions,” she says.
“Circumstances change. And people need
to know where to turn for answers.”And
Jane realizes that just as every plan is
different, so is every employee’s needs
and goals.
Helping them fully realize and achieve these
dreams is what continues to drive Jane’s
enthusiasm for working with retirement
planning. “I love everything about retirement
planning,” she says. “I get to help people
who don’t know where or how to start …
I just enjoy being able to help somebody
realize their dreams.”
18
The Employee Benefits Division at Tri-Star serves two distinct
groups. First, it provides solutions for employers and business
owners as well as the employees of those companies. Many of
our clients are from the Great Lakes Bay Region, but we have
also worked with clients as far away as New York and California.
We make saving for retirement accessible to average individuals
working at local companies.
Tri-Star’s process begins first by helping the employer establish
a strong retirement plan that is beneficial to the employees’
overall health. Our duties include plan set up and design,
investment selection and monitoring and compliance and
government regulations assistance. The employer can turn to
us as the main contact for anything related to the plan.
The second part of Tri-Star’s commitment is to the company’s
employees. We educate participants on the benefits provided
by the retirement plan. Enrolling them in it involves discussing
their retirement goals and helping them choose investments
best suited to them. Our goal is that each participant knows that
Tri-Star is here to help. Not only do we provide a local phone
number and email address so they can reach us with any of
their financial needs, but we are also accessible at an annual
education meeting.
What sets us apart is that we are not a faceless customer
service line. We know the name of each company and what
type of business it does. We are passionate about educating
employers and employees about saving for retirement and
helping make retiring a reality.
by Laura Janson on Jane Hagen
The Tri-Star Trust Bank Employee Benefits
Division is comprised of WOW people who
produce WOW moments every day. My favorite
WOW was possible because of three things –
great leadership provided by Jane Hagen, our
local presence making us easily accessible and
the fact that we provide all of our plan participants
the same level of service, regardless of account
balance. A participant in one of our plans, who
is nearing retirement age, had taken a loan
out against his 401(k). When he fell behind in
payments we were able to work with him and his
employer to get the initial loan paid off to avoid
any harmful consequences to the plan in a manner
that worked for his situation. He felt comfortable
with us after the time we took to work with him
individually, and when a new financial situation
arose due to his mother’s passing, he came back
to see us. The participant knew he was able to
ask questions that he’d been reluctant to ask his
other advisors about. Through our discussion,
he determined that he and his wife needed to do
some planning of their own. We were able to refer
him to some excellent lawyers who will help him
draft a trust for him and his wife and when his
retirement date arrives, we will be the people he
turns to.
19
Each year, the State of Michigan Department of Insurance and Financial Services (DIFS) sends a battery of auditors
to our office for weeks of examination. Tri-Star, being a state chartered bank, is held to the highest fiduciary
standards. Consequently, these auditors are measuring whether Tri-Star’s activities are sound in all respects and
comply with all laws and regulations.
One particular area of examination is Tri-Star’s operations, internal controls and auditing. The State’s scrutiny
is thorough and detailed. They analyze Tri-Star’s quality of operating systems, accounting and data-processing
systems. The auditors also examine our securities trading functions, controls over income processing and
reconciliation processes.
We are very proud of how Tri-Star measures up to this scrutiny. Much of our achievement can be traced to those
professionals who are generally not meeting or talking to our clients – they are behind the scenes. These individuals
play a significant role in Tri-Star’s success.
20
by Larry Preston on Claudia Flattery
by Andre Buckley on Kay Cooper
There is no one that embraces Tri-Star’s value of “caring
for each other” like Claudia Flattery. Claudia plays
so many different roles at Tri-Star that she touches
everyone’s lives. She is the Director of Human Resources,
the lead person for preparing financial information for
the company; she looks after the condition of all of our
buildings and serves on Tri-Star’s management team
as well.
When I started working for Tri-Star Trust Bank, our
back-office operations were done in-house, and we
had a dedicated professional to answer any tradingrelated operations questions. Shortly thereafter, we
outsourced that part of our operations to another
company. How money actually moved through the
plumbing of our operations system was something I
did not have the opportunity to learn thoroughly.
What makes Claudia so amazing is that she is constantly
multi-tasking, dealing with many different employees
and vendors simultaneously and doing it with a warm,
caring attitude, all the time. I’ve never seen Claudia when
she wasn’t in a good mood. Oh, by the way, she does a
great job with all the different roles she plays. “Caring for
others” – that’s Claudia Flattery!
With this function of operations moved off-site, I relied
on Kay Cooper, our head of operations, to answer
my questions and instruct me in this area. Kay was
nice and patient in answering my questions from the
most elementary to difficult questions she herself
would have to research. She did this time and time
again without complaining, in addition to her already
massive workload. Whenever I need assistance I can
always count on her to provide help without making
me feel that what I’m asking is something I should
have already known, even if I should know it. After a
few years working with Kay, I realized that this isn’t just
something she has done for me but she does this for
everyone. It’s who she is.
C LAU D I A A . FLATTE RY
Director of Human Resources
There are many components that go into
providing excellent customer service. The
service that occurs behind the scenes at
Tri-Star is as important as that provided
face-to-face with clients. One of the
individuals at Tri-Star who works diligently
behind the scenes is Director of Human
Resources Claudia Flattery.
Claudia makes sure the day-to-day
functions at Tri-Star run smoothly, creating
an environment for her fellow co-workers
to continue to provide great service. “I
do the things that need to be done to run
our offices and service our staff. And our
people don’t need to worry about these
things … so they can focus on the needs
of the client.” She contributes in large
part to Tri-Star’s goal of creating a place
where employees can be appreciated,
enthusiastic and cared for.
“Tri-Star is a place where everyone
genuinely cares about our clients and
each other. It’s a great environment to
work in.”
KAY L. COOPE R
Vice president,
Director of operations
Simplify – in short, this is at the heart of
Tri-Star’s mission. It can be seen in the
daily operations at Tri-Star through the
hard work of Director of Operations Kay
Cooper. While Kay understands the bigger
picture of Tri-Star, she is also very skilled
at taking care of all the little details for
clients that other people may not consider.
In a given day, Kay could deal with asset
transfers, tax reporting, statements and
information technology, among other
things. Although she may not have much
direct interaction with clients, as she
states, “Every person in and around
Tri-Star is my client.”
Kay works hard so that life can truly be
simplified for Tri-Star clients. “Our main
focus is the client; whatever they need
we make every effort to get it done,”
she says. “We’re trying to simplify their
lives, so we do that little extra to make
it happen.”
21
When it was launched, Tri-Star was a totally new
concept in wealth management firms – at least in
the Great Lakes Bay Region.
Its steady trajectory toward success showed
that people in the area valued a wealth
management firm built on comprehensive
planning, objectivity, local ownership and a
commitment to the community. So it stood to
reason that other communities would like to
have the Tri-Star concept.
But not every community would be a good fit with
Tri-Star’s corporate values. As Tri-Star began to
look at taking the huge step of growing beyond its
Saginaw headquarters, it looked to a place where
community values are everything.
“Tri-Star is as much about its corporate culture
as anything else,” says Larry Preston, Tri-Star
CEO. “And Frankenmuth is a place steeped in its
community culture and the values of its Lutheran
missionary founders.”
It was a perfect synergy. “The idea that we care first
about our clients, second about each other and
third about our community was very much in tune
with Frankenmuth’s core values,” Larry says. “And
it’s a town whose people feel a very strong sense
of independence and personal responsibility. So
philosophically, we were very much in sync.
“We just needed to make sure we had the right
people ‘on the ground’ in Frankenmuth to show
people how much alike we were. And Mary Jo Krick
was the perfect choice.”
22
Frankenmuth Community Foundation
on Tri-Star Trust Bank:
“Our Tri-Star Trust Bank team understands our unique
needs as a nonprofit organization. Through their own
involvement in the community, they stay on top of issues
affecting organizations like ours, and their real-world
experiences are invaluable to our board. Not only do these
trusted advisors work to ensure solid investment growth
through expert asset management, they have an in-depth
understanding of the entire charitable giving process.
They work closely with us as we navigate the legal and
tax issues related to philanthropic gifting so we can
concentrate on using those funds to support the mission
and vision of our organization – improving our community.”
Marilyn Knight on Tri-Star Trust Bank:
“Finding financial professionals who possessed the
ethics, honesty and caring we demanded, and who also
provided the best financial services was no easy task …
until my husband and I went to Tri-Star Trust Bank. The
personnel there make me feel like I am a part of Tri-Star.
They keep me updated on my investments, listen to me
and offer excellent financial advice. I know I can call with
any questions, talk to people and not a machine and get
an immediate response. With the financial guidance of
Tri-Star, I now look forward to a comfortable retirement,
knowing they will be taking care of things. I trust Tri-Star!”
Dr. Harold Braeutigam D.V.M.
on Tri-Star Trust Bank:
“Knowing that one’s financial plan is in good hands gives
me a feeling of comfort and satisfaction. Tri-Star Trust
Bank has the complete package: astute, caring and
knowledgeable professionals who are readily available to
discuss estate and retirement fund management.”
M A RY JO K R I C K
Vice President, Relationship
Officer, CTFA
After Tri-Star opened an office in Frankenmuth, the
question arose of who would lead the charge to
introduce this company to the closely knit town. It
was quickly evident that Tri-Star’s Vice President,
Relationship Officer, CTFA , Mary Jo Krick, was the
best choice. Being familiar with the Frankenmuth
area, Mary Jo understands Frankenmuth’s unique way
of doing things – a trait that parallels Tri-Star’s own
unique approach to service.
“One of the great things about Tri-Star is that
everyone shares the feeling that we’re part of one
team, and that team has one goal: to do what’s best
for the client … no matter what it takes,” Mary Jo
says. “That’s really what Frankenmuth is all about,
too.” Mary Jo personifies this goal daily in service
to her clients, community and fellow co-workers.
She understands that collaboration results in an
excellence in service and personal connections that
cannot be found elsewhere.
“It’s about taking care of our clients – people I
care about. There’s a fulfillment that goes beyond
a price tag.”
by Drewe Robinson on Mary Jo Krick
In dealing with clients, we know that we can and do offer
similar products and with similar performances as our
competitors. At Tri-Star, what sets us apart from other firms is
our caring for, and often exceeding, our clients’ expectations.
This can be especially true when we go beyond our clients’
needs during difficult events in their lives. With the leadership
of Mary Jo Krick and our Frankenmuth office, we are in the
process of closing out a parent’s estate for all the siblings in a
family. Another brokerage firm was reluctant to assist
this family because the brokerage firm will be losing
the assets. Mary Jo and her team have made the
necessary trades and supplied all the paperwork to
complete this quickly and smoothly.
We know that when we are dealing with the final
steps in a parent’s estate, it can be difficult and
emotional to “let go.” When these assets are
distributed, it will be like saying goodbye again to
that parent. This is an emotional time, and we can
be a bigger asset to the family members by being
sensitive to their feelings and needs. The client will
never forget what we did for them in their time of
grief and sadness.
23
Dawn Kenroy, Matt Brege
and Patty Enfield
Joe Ruth on Tri-Star Trust Bank:
“As a busy healthcare professional, I trust Tri-Star Trust
Bank to provide world-class ‘wealthcare’ services with
the personalized touch, responsiveness and attention to
detail that only a local firm can deliver. Tri-Star Trust Bank
is ... trustworthy people delivering trustworthy investment
guidance, security and support as I manage my family’s
financial future.”
The Greater Lansing market has a population of nearly
a half-million people, the seat of Michigan’s state
government and the state’s largest university. So one
would think the area would have everything anyone
could ask for in wealth management services.
What it was missing, says Gene Pickelman, Tri-Star
president, was exactly what Tri-Star has to offer.
“We’re providing something in the Greater Lansing
area that nobody else there really is. It’s that totally
objective, independent and comprehensive approach,
all managed and serviced right here in mid-Michigan.”
It makes Tri-Star a niche player in the market, but it’s a
very important niche – and one that’s growing rapidly.
“Tri-Star’s approach isn’t for everyone,” Gene says.
“Some people are more hands-on and more involved;
they don’t necessarily want to ‘simplify.’ But we’re
seeing some substantial growth in the Greater
Lansing area. Because a lot of people there want
and need our level of service. And people who really
do want the best.”
Betty Beese on Tri-Star Trust Bank:
“It’s the personal touches that make me feel special, like
remembering me on my birthday and holidays. You always
have the answers or ideas to make my life easier and I know if
something urgent comes up, I can call you on your cell phone.
You’ve kept me from falling prey to phone scams and recently
helped me with communications with the IRS, which saved
me lots of money. I don’t know what I would do without you.”
Florence A. Hummel on Tri-Star Trust Bank:
“After experiencing a recent health issue, I’m so glad that
Tri-Star Trust Bank encouraged me toward an overall review
of my estate planning documents to include medical and
financial durable power of attorney. I have peace of mind
and can concentrate solely on my rehabilitation.”
Jerry & Stella Cash on Tri-Star Trust Bank:
“With the help of Tri-Star, we are very pleased to be ‘getting
our house in order.’ Stella and I have worked extremely hard
for our family and for each other over the years. Tri-Star has
done an excellent job of helping us realize that we shouldn’t
have to work so hard to manage our financial affairs; now
we have a team of professionals, in whom we can trust, to
simplify things and make it easier for us.
Stella and I can rest assured that the folks at Tri-Star are ‘right
down the street’ and readily accessible. They are about us,
our family and the community. Because they are guided by
some of our most talented and trusted local leadership, we
are very happy with our decision to move to Tri-Star.”
24
m att e . b rege
Vice President and
Managing Director,
Greater Lansing
by Larry Preston on Matt Brege
Matt Brege has a wealth of investment knowledge and
experience from working at larger financial institutions. He’s
now found a home at Tri-Star. Attracted by Tri-Star’s boutique
firm approach of caring for clients first and foremost, Matt
joined the Tri-Star family at the beginning of 2013. His gift of
always seeking to improve Tri-Star’s sophisticated services
makes him the ideal person to lead the firm’s efforts to grow
its presence and brand in the Greater Lansing market.
25
A strong economic base, a safe family atmosphere,
and a caring community – three reasons why Midland
is recognized nationally as a “great place to raise
a family.” We thought it was also a great place to
expand our business.
After all, that’s what we’re about as well. We don’t
just help our clients grow and manage their wealth;
we give them the financial confidence they need to
care for their family and live a truly rich and rewarding
life. And we believe that being part of the community
means getting involved ourselves.
“Our office is located in the bustling Downtown area,
just steps away from Midland’s iconic three-legged
bridge, known locally as the Tridge,” said Larry
Preston, Tri-Star CEO. “It’s a visual reminder every
day of Tri-Star’s three-pronged philosophy of caring
for our clients, caring for each other and caring for
our community.”
Mike Bierlein on Tri-Star Trust Bank:
“I make calculated business risk decisions every day…that’s
the American spirit this great country was founded on and
hopefully will continue with. What I demand from my financial
advisors is extraordinary wisdom with my hard-earned
money. Unusual times demand unusual care and advice.
And that, plain and simple, is what Tri-Star delivers every
day. Their approach to financial decision-making gives me
unbiased advice that isn’t dependent on generating sales or
commissions. Along with financial management, their trust
management skills provide me a peace that my loved ones
will be in good hands.”
David & Betsy Stavenger on Tri-Star Trust Bank:
“Before Tri-Star, we had used ‘managed accounts’ at two
of the big name New York brokerage houses. The products
were generic and ineffective at meeting target investment
goals. Now our portfolio is a joint effort, fully customized to
our future, and reviewed frequently to make sure we are on
track as things change. We are confident we made the right
choice.”
Ken LeCureux, CFO of the Bierlein Companies
on Tri-Star Trust Bank:
“Would you believe you can find knowledge, competence,
courtesy, experience, and creativity all wrapped into one
financial advisor?! Well, I found it in Tri-Star Trust Bank. From
the first day, they performed with a professionalism I have
never found anywhere else. Our investment needs range from
401k plans, to executives’ personal portfolios, to active trust
administration. Tri-Star has exceeded our high expectations.
For thirty-six years I’ve been involved with financial advisors
and have seen it all. Tri-Star is the best. Couple that with their
wonderful community service culture and they are number
one in my book!”
26
Back row from left to right: Emily Provenzano,
Laura Janson, Andre Buckley, Adam Rogers,
Danielle Rohac, Gina Ruhlig. Front row left to right:
Debbie Briguglio, Larry Preston, Jane Hagen
by Larry Preston
Excitement runs throughout Tri-Star as we expand into
another area of the Great Lakes Bay Region — Midland. We
see Tri-Star’s values aligned with Midland’s: strong support of
education, science and the arts and enhancing the broader
community’s quality of life. All of these beliefs and values are
embedded in Tri-Star’s culture.
To carry out Tri-Star’s mission, values and culture, a number
of current employees are starting the Midland office including
three of its original employees — Larry Preston, CEO and
Co-Founder; Jane Hagen, Senior Vice President and Director
of Retirement Plans; and Debra Briguglio, Vice President,
Relationship Officer, and Secretary of the Corporation.
It’s our privilege to care for our existing and new Midland
clients and be part of Midland’s economic growth and
downtown development seen outside our Main Street office
windows.
27
Saginaw
1004 N. Michigan Ave.
Saginaw, MI 48602
(989) 921-0010
Frankenmuth
160 S. Main St., Suite 2
Frankenmuth, MI 48734
(989) 652-6600
Greater Lansing
3511 Coolidge Rd., Suite 300
East Lansing, MI 48823
(517) 827-0045
Midland
200 East Main St.
Midland, MI 48640
(989) 492-7620
www.tristartrust.com