Charles Zhang - Michigan’s #1 Financial Advisor by both Barron’s* and Forbes**

Serving

Traverse City Office

236 1/2 E. Front Street, #26 Traverse City, MI 49684 231-943-6988

Main Office 5931 Oakland Drive

Portage, MI 49024 269-385-5888 or 888-777-0216 www.zhangfinancial.com

Fee-Only Unbiased Investment Advice

• We uphold a Fiduciary Standard and work with clients on a fee-only basis.

• We do not receive commissions, kick-backs, or soft dollars from product sales, eliminating inherent conflicts of interest.

Credibility & Professionalism

• Our team of professionals holds designations and degrees such as CFP®, CFA, CPA, MBA, and PhD.

• Charles received his MBA from the Kellogg School of Management - Northwestern University, his MA in Economics from WMU, and Executive Education from Harvard Business School and Columbia University.

Charles Zhang, CFP®, MBA, MSFS, ChFC

• Ranked #1 on Barron’s list of America’s TOP Independent Advisors and is the highest ranked NAPFA-Registered Fee-Only Advisor on the list.*

• Ranked #4 in the nation on Forbes’ list of TOP Wealth Advisors and is the ONLY Independent Advisor in the top 10.**

Minimum investment: $1,000,000 in Michigan/$2,000,000 outside of Michigan. Assets under custody of LPL Financial, TD Ameritrade, and Charles Schwab.

*As reported in Barron’s March 11, 2023 and September 17, 2021. Based on assets under management, revenue produced for the firm, regulatory record, quality of practices, and other factors. For fee-only status see NAPFA.org.

**As reported in Forbes April 4, 2023. The Forbes rankings, developed by SHOOK Research, are based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. See zhangfinancial.com/disclosure for full ranking criteria.

New Owner For Formative Fitness

Downtown Traverse City’s Formative Fitness is under new ownership. Owner and founder Sebastian Garbsch recently sold the 15-year-old boutique personal training center to long-time employee Brenden Booth. Garbsch is staying on as co-lead trainer.

Funding For Freshwater Hub

The Traverse City Freshwater Research & Innovation Center on West Grand Traverse Bay will receive $15 million as part of Michigan’s fiscal year 2024 budget.

Once complete, the Freshwater Research and Innovation Center will establish the Grand Traverse region as a global hub for applied freshwater innovation, offering research, education, commercialization, new business incubation, and startup accelerator programs. The project is a collaborative effort of 20Fathoms, Discovery Center & Pier, Michigan Technological University, Northwestern Michigan College, and Traverse Connect.

LAKEVIEW HILL FARM & MARKET

NOW OPEN

Lakeview Hill Farm , a certified organic produce farm in Leelanau County, has opened its new Lakeview Hill Farm & Market located in the historical Pleasant Valley Schoolhouse, an 1890era one-room schoolhouse at 8236 E. Lakeview Hills Road. The new market offers Lakeview Hill Farm produce, fruits and vegetables from other farms, as well as other local goods and products, including meat, eggs, dairy, grab and go beverages, pastries, and more. It is open Monday through Saturday, 9 a.m. to 6 p.m.

$50K FOR SMALL BUSINESS HELP

Venture North Funding and Development in Traverse City recently received a $50,000 grant from the DTE Energy Foundation. Funds will be used for no-cost professional consultations to small businesses, removing gaps and barriers that are hindering growth. “The grant will build the capacity of small businesses, the economic background of our region, through one-on-one consultation,” said Laura Galbraith, president of Venture North. “Based on the priorities of the business, we can deploy consultants aimed at addressing challenges involving legal and bookkeeping needs, marketing and selling, business and financial planning, inventory, acquisitions, client agreements, product development and more.”

NEW GLUTEN-FREE FOOD TRUCK OPENS

Joelle Louisignau-Dunne and Toby Dunne have opened De Food Truck in downtown Frankfort. The couple previously operated the Muy Loco Tacos food truck at Stormcloud Brewing, before selling it in 2020. The truck features all gluten-free food including specialties from The Netherlands, where Chef Toby was born and raised. The truck’s home base is Stormcloud, but also travels around the area. Follow it on Facebook for upcoming locations.

Leelanau Winery For Sale

Leelanau County’s Ciccone Vineyard & Winery has hit the market, listed at just over $4.9 million. The property on E. Hilltop Road includes 78.37 acres on three parcels, a 3,520 square-foot home and a 7,750 squarefoot tasting room, winery, historic barn and event space. The vineyard is planted in 13 acres of primarily cool-climate vinifera grapes with the opportunity to plant up to ten more acres.

Local Attorney Publishes Book On Remote Work

Anders Gillis, an employment attorney with Parker Harvey PLC in Traverse City, recently announced the publication of his new book, “Employment Law & Remote Work.” The book is designed to equip human resource professionals and business owners with the knowledge and insights they need to avoid common traps, when to get counsel involved, proactively problem-solve and protect company culture. “Like it or not, most of us are remote in some form,” Gillis said. “But the legal implications are often overlooked, especially when employees are in multiple states. That’s where my book comes in.” It sells for $12.95 on Amazon.

HAGERTY RAISES $105M IN CAPITAL FROM STRATEGIC INVESTORS

Hagerty, Inc. (NYSE: HGTY) recently announced that the company is raising $105 million in capital from existing strategic investors including State Farm, Markel Group and the Hagerty family. This capital raise is comprised of $80 million of convertible preferred equity, which closed on June 23, 2023, as well as a $25 million commitment of long-term debt financing for Hagerty Reinsurance Limited. The funds will help support the company’s profitable growth initiatives focused on serving the car enthusiast community. “We have been working diligently over the last six months to deliver improved profitability and margin expansion, while making the investments necessary to sustain our growth trajectory for many years to come,” said Hagerty’s Chief Executive Officer McKeel Hagerty. “We believe that the additional capital positions us well during uncertain economic times to execute against our significant growth opportunities.” The capital raise consists of $50 million from State Farm, $15 million from Markel, and $15 million from the Hagerty family, and an additional $25 million in Tier 2 capital from State Farm.

City Opera House Names New Executive Director

After an extensive national search, the City Opera House has selected Chad Lindsey as its new executive director, succeeding retiring Diana Baribeau. He will take the lead Aug. 1. “Chad’s passion for the arts stems from years in the industry, both as a professional actor and the head of a theater and mixeduse arts complex for the Entertainment Community Fund (ECF – formerly The Actors Fund and one of New York’s oldest and revered 501c3s). He also served as the artistic director of Hook & Eye Theater (an avant garde theater company), according to Jeremy Harnish, chair of the COHHA Board. “City Opera House is a unique artistic and community force,” Lindsey said. “I’m honored to be taking over where Di left off, and guiding the next chapter of such a historic and loved space...”

NETWORKING/SPEAKER EVENT

AUG. 15

Traverse Connect is hosting a Coffee Connection event Aug. 15. Guest speakers will include:

•Abby Baudry, project lead for Michigan’s Creative Coast, will highlight the Grand Traverse Region as an exceptional place to live, explore, and fulfill careers.

•Henry Wolf, director of government advocacy, will provide updates to the Fresh Water Research and Innovation Center.

•David Brownback from the Michigan Chamber of Commerce will share more about the Utility Bill Review program and how it significantly reduces utility and telecommunication costs with real savings, refunds and credits.

•Terry Vandercook, CEO of Networks Northwest, will provide information surrounding grant opportunities available to employers, employees and job seekers.

Still Time To Provide Input On Area Transporation

The 2020 Census resulted in the Traverse City area exceeding the population threshold to become a Metropolitan Planning Organization (MPO). The Traverse City MPO, known as Traverse Transportation Coordinating Initiative (TTCI), establishes a collaborative and coordinating body that supports discussion and consensus for transportation projects utilizing federal funding and new grant opportunities. TTCI will be developing long-range and short-range plans that support projects within the MPO boundaries. As part of the work to establish the MPO, the public was invited to attend three sessions in July to provide input on all modes of transportation in the greater Traverse City area. For those unable to attend the sessions, an online survey is still open until Aug. 25. The survey and an MPO FAQ can be found on the Networks Northwest TTCI webpage at nwm.org/TTCI.