2016 YEAR IN REVIEW
GREENLEAF TRUST IS A COMPREHENSIVE WEALTH MANAGEMENT FIRM WITH SPECIALIZED DISCIPLINES I N GOALS-BASED WEALTH MANAGEMENT, TRUST A DMINISTRATION AND RETIREMENT PLAN SERVICES.
CLIENT-ALIGNED AND TALENTDRIVEN, WE ADHERE TO THE HIGHEST STANDARDS OF FIDUCIARY EXCELLENCE, WHILE PROVIDING PERSONALIZED SERVICE AND CUSTOMIZED SOLUTIONS.
2016 YEAR IN REVIEW
AS ONE OF MICHIGAN’S FIRST PRIVATELY HELD AND MANAGED TRUST-ONLY BANKS, OUR INDEPENDENCE FREES US FROM CONFLICTS OF INTEREST AND ENSURES THAT OUR CLIENTS’ WELL-BEING IS AT THE CENTER OF EVERYTHING WE DO.
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CHAIRMAN’S LETTER WILLIAM D. JOHNSTON
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n behalf of the Board of D irectors of Greenleaf Trust and our fabulous team now numbering 109 members, it is my honor and privilege to present to you our 2016 annual report. We established challenging goals for 2016 and I am pleased to report to you that we either met or exceeded those goals in every category. At the conclusion of December 2016, we are still able to report high double-digit annualized revenue growth over our entire 18-year history. Our capital increased by $3 million and now stands at $45.8 million, which is $30.3 million in excess of our required capitalization. Another strong year of cash flow allows for the continued reinvestment in human capital, technology and infrastructure. In November, we celebrated the grand opening of our Grand Rapids office thereby increasing our geographical footprint and bringing our regional offices to five in number. We are excited about the team of professionals that have joined Greenleaf Trust in Grand Rapids and we are genuinely thrilled with the energy and opportunities that this office and team brings to our company. Our success in developing new business and serving on behalf of new families as well as our ability to invest in new geographies continues to be explained by the symmetry of our business and workplace culture. Every day the team at Greenleaf Trust earns the privilege to serve our clients at the highest benchmark possible. You have heard me say before that trust is in our name. Fiduciary excellence is our mission and honest and honorable
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is our code of conduct in all we do. We are humbled by our clients’ loyalty as well as satisfaction survey results and we are collectively dedicated to delivering on the promise of superior service always. I invite you to spend time reading about our growth initiatives and accomplishments from a number of Greenleaf Trust leaders in the body of this report. They are indeed a talented, energetic team of leaders whose divisions are made of smart, engaged and focused teams working on behalf of our clients and the $9.0 billion of assets we now oversee. Michael Odar, our president, and his leadership team delivered another spectacular year in 2016. They have worked hard at developing a challenging and important strategic plan for 2017 that will, when executed, generate additional and important announcements during the fiscal year. As always, we remain humbled by the opportunity to work on behalf of our clients and are eager to continue to earn their trust each and every day. I offer my very best regards on behalf of our entire Greenleaf Trust team. Please enjoy our 2016 annual report.
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PRESIDENT’S LETTER MICHAEL F. ODAR
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s you read this report, you’ll notice that 2016 was another exciting and successful year for Greenleaf Trust. We brought in more talented teammates, opened a new office, enhanced the sophistication of our investment platform, won awards in recognition of our culture, increased assets under advisement to $9 billion, and achieved record client satisfaction results. These accomplishments were a result of our relentless focus on four key strategic initiatives in 2016: culture, stewardship, sophistication and purposeful growth. CULTURE Greenleaf Trust’s vibrant culture is built around the behaviors and beliefs that are alive within our workplace, with an emphasis on talent development, interoffice connectivity, the client experience, communities and families. We work hard to develop and strengthen this high-performance work environment so that it continues to engage and inspire our team to do great work for our clients. STEWARDSHIP Beyond the oversight and protection we provide while managing our clients’ wealth, we are also stewards of our own culture at Greenleaf Trust. Preserving what we have built ensures we will be around from generation to generation. 8
SOPHISTICATION Investments in technology, systems and people enhance our ability to do more for our clients at a higher level. Developing a more extensive and sophisticated investment platform has enabled us to provide our clients with more types of investment opportunities and portfolio management solutions. In 2017, we will be launching a new, web-based client interface that will help clients view, analyze, organize, and more collaboratively work with their client centric team on planning solutions. Our thought leadership and subject matter expertise will continue to grow internally, and be sourced externally, all for the benefit of our clients. PURPOSEFUL GROWTH Our end goal has never been about growth for the sake of growth. Each geographic market presents a unique opportunity to expand the breadth and depth of the services we provide for our clients. In 2016, we opened a new office in downtown Grand Rapids. Our new teammates there have diverse and extensive fiduciary backgrounds and they are well-qualified to serve our clients. We are thankful for, and deeply value, the trust our clients place in us, and we work hard every day to earn and maintain that trust. The objective of the company that we have built over the last 19 years, and continue to grow, is to do more for our clients and do it better for them, from generation to generation.
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CLIENT CENTRIC TEAM DAN J. RINZEMA CHIEF CLIENT OFFICER
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he client centric team’s daily mission is to provide remarkable service through the delivery of holistic wealth management, advanced financial planning and expert trust administration. We pursue this by focusing first and foremost on the needs of our clients. We then leverage the collective wisdom of the team to provide highly personalized service and conflict-free, customized solutions. The year 2016 was both gratifying and humbling in this regard as the client centric team worked to create a consistently positive impact felt by our clients, community and culture. CLIENTS Every tangible improvement we have made on behalf of our clients stems from a disciplined review of our practices. As we look for opportunities to serve our clients better, we begin by listening to those that matter most—our clients. Simply put: When our clients speak, we listen. Our annual client satisfaction survey is designed to gauge Greenleaf Trust’s collective efforts from our clients’ perspective. We not only want to know if we are delivering on our promises, but we also crave candid feedback on our shortcomings. Analyzing the results helps us more closely align our daily 12
impact with the collective voice of our client, and allows us to better understand how our clients feel about Greenleaf Trust’s personalized service and customized solutions. The aim is to listen to client comments and suggestions so that we can enhance the services provided on their behalf. The following is a summary of what we heard our clients say: 2016 CLIENT SATISFACTION SURVEY RESULTS Personal Trust & Wealth Management >> 100% find their client centric team members to be easily accessible >> 99% feel their questions and concerns are answered in a prompt and satisfactory manner >> 99% are satisfied with the frequency of contact >> 99% feel as though they are treated as a very important client >> 99% believe we listen to and understand their unique goals and objectives >> 97% believe their accounts are tailored to meet their unique financial goals and objectives >> 95% believe we are successful in meeting their investment needs >> 93% say they would refer an individual to Greenleaf Trust >> Satisfaction scores with our account statements, performance reports and newsletters uniformly exceeded 97%.
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While we are pleased with the generally high marks received, we recognize there is always room for improvement. So, in order to achieve our standing goal of 100% client satisfaction, we are intently focused on the specific suggestions and comments provided by our clients. As a result, we have several initiatives already in progress, including: revisiting our research process in light of the changing investment climate to facilitate value-add decisions in client portfolios, and the rollout of an online client portal in mid-2017 that will revolutionize how our clients access their accounts. COMMUNITY AND CULTURE For clients of Greenleaf Trust, financial security is measured in generations. Founded in Michigan as a private, trust-only bank, we are chartered to remain independent in perpetuity. It is with this time frame in mind that we strengthened our commitment and presence in each of the communities we served during the year. While adding talent to all of our offices throughout the state and successfully launching our newest office in Grand Rapids, we also initiated our inaugural “Day of Caring.â€? Teammates were given the day to form groups and volunteer together at a nonprofit organization of their choosing, within their respective communities. On this day alone, over 700 hours were spent giving back to food pantries, youth programs, resource centers and other nonprofit institutions within the communities in which we live, work and seek to remain deeply rooted. In addition to growing our sense of community around the state, many client centric team members participated on panel discussions as industry experts. We remain focused on a culture of fiduciary excellence and professional development, and take great pride in recognizing personal growth, growth in role, and impact in role within our overarching mission of remarkable client service. During the year, four team members graduated from National and Graduate Trust School through the American Bankers Association, while others earned respected industry designations, such as Certified Trust and Financial Advisor and Certified College Planning Specialist™. Several teammates 14
were recognized for their growth and impact throughout 2016, receiving the following promotions:
Nicole E. Asher
Vice President, Senior Wealth Management Advisor
Mark A. Jackson
Senior Wealth Management Advisor
Steven P. Phillips
Wealth Management Advisor
Kristen M. Tidd
Team Service Coordinator
As always, we are committed to earning our clients’ trust anew each and every day. Our team has one and only one priority—providing each client with remarkable service through personalized wealth management and trust administration in alignment with our standards of fiduciary excellence. We remain honored and humbled by our clients’ continued trust and confidence.
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RETIREMENT PLAN DIVISION CHRIS A. MIDDLETON EXECUTIVE VICE PRESIDENT AND DIRECTOR OF RETIREMENT PLAN DIVISION
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he Retirement Plan Division experienced a strong year in 2016. Our total plan assets have grown to approximately $925 million, which positions us to accomplish a goal of reaching $1 billion in retirement plan assets. Gauging client satisfaction is very important to us, so we again conducted a client satisfaction survey during 2016. We were energized by the results, which reflected more 100% approval ratings than ever before. Despite very high marks, these surveys are invaluable for determining areas we can improve. One major improvement in 2016 was a complete overhaul of our participant website. The new interface focuses more on retirement readiness and provides forecasting toward retirement goals specific to each participant. Monthly income projections at retirement and several other automated calculations are embedded within the software so participants can see how their actions today will impact their future financial picture. Numerous reports can then be quickly generated to observe and encourage retirement readiness for every participant. Additionally, the site navigation is less complicated and more intuitive. Research studies show that participants want financial interactions to be simple and easy to understand, and our new site has accomplished both of those goals.
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Many other improvements were made during the year, in all aspects of our business. We continue to measure divisional progress through several key performance indicators (KPIs). KPIs are critical to ensure we are actually meeting objective standards of performance and impact. Once again, we met or exceeded our goals within this framework.
Ensuring best-in-class investment options, while minimizing costs to participants, remains a key focus for the division. Much of the recent case law involving retirement plans cites high cost investments as a primary detractor from participant savings success. Through close monitoring and negotiations, we were able to secure reduced mutual fund expense ratios for several investments, saving our participants several hundred thousand dollars in annual mutual fund costs. These actions are at the heart of our fiduciary role and we take this duty seriously. Greenleaf Trust’s entire retirement plan team is honored and thankful for the opportunity to provide assistance to approximately 15,000 participants across more than 140 plans. Our broad experience and extensive resources position us well to provide retirement plans that are compliant, efficient and worry-free. We look forward to another year of growth and betterment in 2017.
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RESEARCH NICHOLAS A. JUHLE, CFA
VICE PRESIDENT, DIRECTOR OF RESEARCH
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ntroducing a fresh perspective is sometimes the surest course to an improved outcome. I believe our President, Mike Odar, had this in mind last year when he asked me to assume leadership of our Research Division. Now as director, it is my job to ensure that our resources are focused on the investment decisions that will be most effective for our clients in the context of today’s environment. Indeed, the investment environment is evolving and it is incumbent on us to evolve with it. Our research team is strong—we have 11 dedicated professionals boasting a long list of credentials and decades of experience and a technology budget that ensures we have all the tools necessary to be competitive. In concert with the client centric team, we are tasked with creating comprehensive investment solutions to help our clients reach their financial goals. We believe portfolio-level outcomes are what truly impact our clients and we balance risk and reward through thoughtful allocation to a range of asset classes.
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In 2016, the Investment Committee identified the following key tenets of our investment philosophy to illustrate how we make decisions on behalf of our clients: • •
Portfolios should maximize after-tax, after-fee returns for a given level of risk. I ndependence and an open architecture approach allow for unbiased investment decision-making.
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Investment decisions should be based on accepted principles and empirical data.
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Asset allocation is the primary driver of long-term investment performance.
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long-term perspective and disciplined approach lead to improved investment A outcomes over time.
At its core, an investment portfolio is really a collection of decisions that our team is responsible for making. Our ability to improve portfolio-level performance with these decisions depends upon our effective use of the talent and tools at our disposal. This means taking a hard look at the realities of today’s investment environment and asking ourselves: “What decisions are most deserving of our time?” and “Where do we have a high likelihood of making decisions that add value?” Our honest answers to these questions have driven our continued evolution in the ways we seek to add value in client portfolios. Some of our adjustments have been minor, while others have garnered more attention, but all are intended to better align our talent and resources to deliver improved investment outcomes for our clients. To that end, our team announced the promotion of Dan Haines to investment strategist, reflecting his significant contributions to the portfolio construction process. On behalf of the entire research team, we are honored and humbled by the opportunity to manage our clients’ wealth.
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THE FAMILY OFFICE AT GREENLEAF TRUST JOHN G. GRZYBEK DIRECTOR OF THE FAMILY OFFICE THOMAS A. DEMEESTER MANAGING DIRECTOR – GRAND RAPIDS
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hile Greenleaf Trust has long provided family office services as a core discipline, in 2016 the alignment of talent, integrated platforms and systematic processes compelled us to formalize and expand our service model for The Family Office. John Gryzbek, Director of the Family Office, says it well: “The Family Office at Greenleaf Trust provides a single family office service experience that brings clarity and understanding to the opaque view often associated with significant wealth and complex wealth structures. This is achieved, in part, by a family wealth blueprint design: a revealingly comprehensive overview that empowers families and their trusted advisors to identify and subsequently maintain and refine multigenerational family wealth-related goals and intentions. Optimization of a family’s wealth governance is thereafter achieved through wealth plan execution which affords families access to a sophisticated, customized and fully integrated multigenerational wealth management consulting process. This seeks to minimize the collateral loss of wealth to portfolio volatility, taxes and creditors. Thereafter, by way of wealth plan maintenance, family wealth plans are managed and serviced by a team of family office experts specializing in family, trust and entity administration.� 26
A high-level view of our family wealth advisory services includes, among others: •
Family Wealth Blueprint Design, Execution, Management
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Comprehensive & Consolidated Wealth Reporting
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Investment Advisory Services
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Fiduciary & Custodian Services
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Philanthropic Services
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Lifestyle Enhancement Services
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Single Family Office Outsourced Third-Party Platform Development
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Strategic Wealth Consulting Services
The Family Office at Greenleaf Trust is managed and led out of our newly completed space at 25 Ottawa SW in downtown Grand Rapids. We opened the doors on Monday, November 7, with a ribbon cutting and open house celebration attended by over 200 community members. It was the culmination of several years of planning and strategic implementation across our company. With the recent hiring of six longtime Grand Rapids-based team members, our Grand Rapids office is now fully staffed to provide wealth management, family office and retirement plan services consistent with our Greenleaf Trust culture and service standards. We are pleased to have been given the opportunity to join the Greenleaf Trust team in 2016 and look forward to the privilege of providing the highest levels of service and advice to our esteemed clients.
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OPERATIONS THOMAS L. DREWS
CHIEF OPERATING OFFICER
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ontinuous improvement is one of Greenleaf Trust’s core values. We believe in reviewing our processes and service each year to ensure our team is equipped to provide clients with the best service available in the industry. In 2016, the operations and business information services teams partnered with our client centric and family office teams to begin the rollout of several exciting new offerings. Early in the year, we introduced a new portal for our CPA partners to securely and electronically share mutual client tax information. This new portal greatly improves the delivery time for tax information to CPAs and provides a better tool for communicating with these partners. In the third quarter, we signed an agreement with Fidelity Institutional Wealth Services to provide an alternative investment platform for our clients. The team has been diligently crossing t’s and dotting i’s to ensure a seamless rollout. While this platform will initially be offered to clients of The Family Office at Greenleaf Trust, we are energized to see how we can leverage these tools for the rest of our clients going forward. The best part of my role is attracting and developing talent, and providing new opportunities to our team members. It is my great pleasure to announce that Peggy Anderson has been promoted to director of operations, effective January 1, 2017. Peggy has been with Greenleaf Trust for almost eight years and has over 25 years of experience in the financial services industry. 30
Over the past five years, she has led every segment of our division, from securities processing to cash processing to administrative support. I look forward to the continued leadership Peggy will bring to Greenleaf Trust. It is extremely gratifying to serve on your behalf. We look forward to continued success and a productive new year.
2016 TRANSACTIONS PROCESSED
856,658
NEW ACCOUNTS ADDED
240
PHYSICAL CHECKS CUT
13,415
AVERAGE DAYS TO TRANSFER IN ASSETS
31 days ACHS SENT
9,063
WIRES SENT
737
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HUMAN RESOURCES KAREN A. BALDWIN VICE PRESIDENT AND DIRECTOR OF HUMAN RESOURCES
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elping Greenleaf Trust achieve a new milestone of employing and celebrating 100 team members made 2016 the busiest year in the company’s history for our human resources team. Along with our exciting new team members and a new office in Grand Rapids, new requirements, compliance reporting and technology also made their way into the human resources division. With all this growth, we hold true to maintaining our core values and culture. In February, we were fortunate to add Lisa Luebke as our new corporate recruiter. There was no time wasted in getting her through on-boarding and learning about each division so she could quickly jump in and help us work through the positions we needed to fill. During 2016, we filled 24 positions and welcomed 19 new employees to Greenleaf Trust:
Jessica D. Ball Trust Operations Specialist
Wealth Management Assistant
George F. Bearup
Derek H. Decker
Senior Trust Advisor
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Hanna M. Channell
Family Office Associate
Thomas A. DeMeester
Jeff T. Pauza
Managing Director—Grand Rapids
Wealth Management Advisor
Ana Endres
Mike E. Rice
Family Office Advisor
Senior IT Services Specialist
Ali Fahs
Sam Riethman
Senior Equity Portfolio Manager
Trading Specialist
John G. Grzybek
Mollie A. Roberts
Director of the Family Office
Trust Operations Specialist
Jermaine J. Johnson
Melinda P. Shull
Trust Operations Specialist
Trust Relationship Officer
Charles Knoll
Hayley Smith
Manager Selection Analyst
Trust Operations Specialist
Lisa C. Luebke
Adam J. Suwyn
Recruiter
Wealth Management Associate
The remaining positions were filled by internal team members:
Salena M. Al-Saadi
Steven P. Phillips
CRM Engineer
Wealth Management Advisor
Simba M. Chirara
Kristen M. Tidd
Trust Operations Specialist
Team Service Coordinator
Lyndsay J. Deery Team Service Coordinator
Through our partnership with HUMANeX Ventures, leaders are able to provide each team member with an Excellent8 document. This document shares the top two themes in each of the categories covered during the candidate interviews that are conducted to assess each individual’s talents and fit with Greenleaf
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Trust’s culture. Knowing and being able to share these Excellent8 documents with teammates allows team members to better understand each other, why they function the way they do, and how they can best utilize each other’s talents. These documents will serve as a valuable tool as we journey through team building activities throughout the coming year. Continuing education through designations and certifications raises our knowledge bar. We are honored to recognize the following individuals for their dedication in 2016:
Peggy Anderson
Oliver E. Krings
Jennifer C. Billings
Beth Ann LaPointe
Allison L. Birmingham
Julie A. Mentzer
Steven J. Christensen
Andrew L. Riker
Ean P. Hamilton
Dan J. Rinzema
Certified Securities Operations Professional™ Certified Fiduciary and Investment Risk Specialist™ Certified College Planning Specialist™ CERTIFIED FINANCIAL PLANNER™ Certified Trust and Financial Advisor
Certified Information Systems Security Professional Certified Fiduciary and Investment Risk Specialist™ Certified Professional Receptionist Certified Trust and Financial Advisor Certified Trust and Financial Advisor
We enjoyed an 83% on our cultural assessment, which measures team member satisfaction, engagement and inspiration. Team member satisfaction manifests itself in several ways: (1) referrals for open positions and cost savings from external recruiting sources—50% of our new team members were referred to Greenleaf Trust by someone they knew within the organization, (2) 71% of our positions were filled within 90 days, and (3) we enjoyed a 90% team member retention rate. 36
As we look to 2017, we start the year with 13 open positions and the promise of growing our team and the Greenleaf Trust footprint. We hold true to our commitment to you, our clients, to continue to find and bring on board the best talent to serve you. We’re excited to see our team grow and hope you are, too!
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MARKETING & NEW BUSINESS DEVELOPMENT SARAH A. JOHANSSON VICE PRESIDENT, DIRECTOR OF MARKETING DANIEL L. BAKER VICE PRESIDENT, DIRECTOR OF BUSINESS DEVELOPMENT AND TRUST RELATIONSHIP OFFICER
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s Greenleaf Trust continues to grow in nearly every measure, so, too, do the opportunities and responsibilities that energize the marketing and communications team. With more awareness and interest in Greenleaf Trust than ever before, we have our hands full with exciting initiatives and events. Large or small, immediate or long-term, in everything we do we’re mindful about our visible role in strengthening Greenleaf Trust’s culture, being good stewards of our resources, and improving the clarity and value of our communications for the benefit of clients and teammates. To a significant degree in 2016, our focus was on the imperative of providing expertise. Leading experts from around the country joined us and shared their knowledge with our clients at a series of meaningful and engaging seminars and participated as guest authors for our monthly newsletter, Perspectives and electronic news blasts. Other worthwhile initiatives included: 1. Grand Rapids Expansion a. Harnesssed public relations to establish beneficial partnerships with community leaders, media, centers of influence and civic organizations b. C reated and introduced a series of ads showcasing the Grand Rapids team and the family office team 40
c. Coordinated the extensive logistics in bussing the entire Greenleaf Trust team to Grand Rapids to tour our new office and visit ArtPrize—part of celebrating our growth and building our future by placing more than 80 Greenleaf Trust ambassadors on the streets of our newest market d. Planned and executed the November 7 Grand Opening for 200+ guests 2. A Focus on Expertise a. Held a “Leveraged Wealth Transfer at a Reduced Risk” seminar in Detroit and Grand Rapids, with attorney Mike Mulligan of St. Louis, Missouri law firm, Lewis Rice. b. H eld a “Family Matters” seminar in Birmingham with guest speakers Peggy Frye and Kathy Wiseman c. Elevated our monthly newsletter Perspectives with topics covering tax issues, Brexit, stretch IRAs, Japan and negative interest rates Additionally, the marketing and communications team: •
Developed new materials for The Family Office at Greenleaf Trust
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Developed and distributed the annual Year In Review
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reated the annual client calendar featuring Kalamazoo Symphony Orchestra; C Gilmore Keyboard Festival; Variety, the Children’s Charity; Child & Family Services; and West Michigan Center for the Arts + Technology
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Hosted over 30 formal marketing events
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Entertained/educated nearly 1,000 clients and friends
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Executed a marketing plan and materials for the Grand Rapids office launch
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Increased our social media exposure on Facebook and LinkedIn
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Penned and distributed numerous press releases
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Supported 50+ civic and cultural organizations through sponsorships 41
It was also our honor to receive numerous awards in 2016: •
est Michigan’s 2016 Best and Brightest Companies To Work For® W (Winner and Elite Winner for Compensation, Benefits and Employee Solutions)
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Crain’s Cool Places to Work 2016 (#6 of 75 companies)
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2 016 “Cool Places to Work in Michigan” by Crain’s Detroit Business, Medium Employer (#2 of 31 companies)
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Metro Detroit’s 2016 Best and Brightest Companies to Work For®
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5 0 Best Small Workplaces by Great Place to Work® and Fortune Magazine (#24 of 50 companies)
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2016 Best and Brightest Companies to Work For in the Nation
Largely through our marketing efforts and the referrals from our clients and their legal and tax advisors, we continued to grow our business in 2016. Many new clients joined us over the last year and brought with them significant assets to manage. We saw healthy growth across all of the markets we serve. The strength of Greenleaf Trust is sustained by our growth and we expect that by continuing to focus on our clients’ goals and objectives, and not our own, our growth trajectory will continue in 2017 and beyond.
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$8.5 billion* and change. More often than not, change is driven by dissatisfaction. It can be as trivial as wanting a different hairstyle or as profound as wanting a different career. Tom DeMeester, however, was not seeking change. He had a great head of hair and a rewarding position with a large, prestigious wealth
It’s true: two heads are better than one. In order to establish a formidable presence in Grand Rapids, Greenleaf Trust knew it had to recruit some of the city’s most talented wealth managers. High on our list was John Grzybek, a former director of wealth strategies for the
management firm. And yet, there he was, at the advice of trusted friends, speaking to us at length
Winner and still championing.
about the importance of reputation, technology and performance. Then leaning in as we, in turn,
A large, publicly traded bank with numerous clients, extensive resources and its own wealth management division for
Right then and there, Tom felt a pang of unease. His employer’s solid reputation notwithstanding,
ultra-high net worth families: what a rewarding place for John Grzybek to develop true expertise in devising highly
it was publicly traded and legally obligated to maximize profits for its shareholders. At privately held Greenleaf Trust, client interests came first.
sophisticated wealth strategies. And so he did for seventeen productive years. Who could have guessed that an animated caricature would soon after set him on a different path? But in watching a
The distinction was key, and Tom soon after agreed to lead our new office
video of Greenleaf Trust’s founder, John heard core values dear to his own heart: putting client interests first, employees
in Grand Rapids. With the help of former colleague, John Grzybek
family office of a major bank, and a self-described financial wonk who excels in leveraging tax laws to each client’s maximum advantage. The more he learned about us the more appealing we became. So it caught us by surprise when
second, and shareholders third. “If this is real, I’m in,” he told a friend. Due diligence and numerous meetings
John, soon after joining us, offered this advice: “Hire someone else.”
director of our Family Office group. Through the integration of
Not as his replacement, fortunately, but as a counterweight. The “someone” was Tom DeMeester, senior wealth strategist for Northern Trust and a well-regarded former colleague of John’s. Not looking to jump ship, Tom was
Greenleaf Trust’s holistic wealth management, robust investment
nevertheless intrigued by his friend’s move to Greenleaf Trust and soon came to learn that we stand for everything he believed in professionally: financial stability, by way of our $8B in assets; a corporate charter that ensures we’ll
clients and their families navigate generational wealth
remain privately held in perpetuity; no conflict of interest between our clients’ financial priorities and our own; fiduciary excellence, underpinned by a culture of “honest and honorable;” consistently high marks in client satisfaction; and deep, permanent roots in Michigan. It was a combination his reputable yet publicly traded, out-of-state employer couldn’t offer. For those reasons and more, Tom DeMeester and John Grzybek rejoined forces earlier this year and are now heading up our Grand Rapids operation: Tom as managing director, and John as director of the Family Office at Greenleaf Trust. In tandem with the full complement of Greenleaf Trust’s considerable skills and resources, they’ll create holistic and robust wealth management strategies for our appreciative clients. Perhaps you should be one, too. Just call us. We’ll give you at least two good reasons why.
spoke about integrity, competence, and a culture that puts clients’ interests above all else.
(director of our new Family Office), Tom and the Greenleaf Trust team will provide clients with a truly integrated, multigenerational
with our team confirmed John’s hopes, and so he joined us earlier this year as
wealth management solution. That’s change for the better, driven by exceptionally high levels of client satisfaction. Today might be a good time for you, too, to make a change. All it takes is a call.
platform and sophisticated tax strategies, John will help our transitions in ways that unite and uphold shared values. Goals, in other words, worth championing at every turn. Now is probably a good time to put your own house in order. Call John Grzybek (Griz-beck), and we’ll show you how.
Financial Security from Generation to Generation
Financial Security from Generation to Generation
*Assets under advisement
211
John Grzybek
south
rose
street
kalamazoo,
mi
49007
269.388.9800
Tom DeMeester
211
kalamazoo grand rapids (autumn 2016) birmingham traverse city petoskey
| greenleaftrust.com
south
rose
street
kalamazoo,
mi
49007
269.388.9800
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44 Family Matters. *of Audit/Mortality/Market
Everything you always wanted to know about Leveraged Wealth Transfer at a Reduced Risk* but were afraid to ask. About Mike Mulligan Mike Mulligan is Co-Chair of the Estate Planning Department at Lewis Rice, Saint Louis. He is a principal originator of the estate planning strategy of sale to a defective trust for an installment note, which is now widely used by estate planners nationally. Mike has been elected to the Estate Planning Hall of Fame® and has been awarded the Accredited Estate Planner® (Distinguished) designation by the National Association of Estate Planners & Councils. Prior to joining Lewis Rice LLC, he served as a law clerk to the Hon. William H. Webster, then U.S. District Judge, Eastern District of Missouri, subsequently Director of both the Federal Bureau of Investigation and the Central Intelligence Agency.
About Greenleaf Trust Greenleaf Trust is a comprehensive wealth management firm with specialized disciplines in goals-based wealth management, trust administration and retirement plan services. As a privately held and managed trust-only bank, our independence frees us from conflicts of interest and ensures that our clients’ best interests are at the center of everything we do. Client-aligned and talent-driven, we adhere to the highest standards of fiduciary excellence.
2017
211 south rose street kalamazoo, mi 49007 g r e e n l e a f t r u s t. c o m 2 6 9. 3 8 8 . 9 8 0 0 8 0 0 . 4 1 6 . 4 5 5 5
BOARD OF DIRECTORS
William D. Johnston Chairman
Ronda E. Stryker Vice Chairman
Ronald N. Kilgore Secretary
Ronald A. Elenbaas Barbara L. James Dr. Kay M. Palan Sydney E. Parfet David M. Thoms
211 south rose street kalamazoo, mi 49007 3 4 9 7 7 wo o dwa r d av e n u e b i r m i n g h a m , m i 4 8 0 0 9 1 2 5 pa r k s t r e e t t r av e r s e c i t y, m i 4 9 6 8 4 3 3 1 b ay s t r e e t p e t o s k e y, m i 4 9 7 7 0 2 5 o t tawa av e n u e s w g r a n d r a p i d s , m i 4 9 5 0 3
greenleaftrust.com