Sommers Financial Management opens new Scappoose office
The world is suffering like never before from the effects of a global pandemic.
The U.S. government is printing money like never before to keep the economy afloat.
Because of those facts, Americans have doubts about the future like never before.
With all that as pretext, it's important like never before to take care of your own finances, and that's what led Sommers Financial Management to open a new office in Scappoose on July 9. Sommers Financial Management is an independent, fee-only registered investment advisor, which derives no income from the sale of investment products. The firm provides personalized wealth management and financial planning, as well as free investment portfolio risk-analysis.
The decision to open a new office — at 51605 Columbia River Highway (503-397-1545) — during a pandemic wasn't an easy one, but it also made perfect sense. Founder and Chief Investment Strategist Adam Sommers said that four factors led to the new office.
First, their St. Helens office (144 So. 14th St.) was growing crowded with the addition of new employees (including Associate Advisor Blaine Butcher). Second, the company wanted to increase its visibility in Scappoose. Third, the new office space basically presented itself to Sommers (he said it "kind of fell in our lap"). And fourth, it made business sense.
"It's not easy … to do it in the pandemic," Sommers said. "But I sort of said, 'We're going to plow ahead anyway, because hopefully this is temporary.'"
As to the current business climate, Sommers said that the COVID-19 pandemic is playing a role in keeping SFM busy.
"Business has stayed really healthy. We're still growing."
— Adam Sommers
"What we found recently is that there is a lot of transition happening," he said. "A lot of people are saying, 'I don't want to go back to work. Can I retire?' And so business has stayed really healthy. We're still growing."
While there is much uncertainty in the world of business and investment, SFM is only modestly adjusting its investment advice.
"Number one, I tell people there's nothing wrong with holding a little bit of extra cash these days. So keep a little money in the bank in case in case of job losses, transitions, family issues, things like that," Sommers said. "And then the second piece is we're using a lot of buffered (exchange traded funds) to protect against some downside. … It protects you from 10, 15 or 30% declines. … It's a simple strategy that helps me sleep at night. And if my clients understand it after I explain it, they sleep better."
The firm began in 2002 and has grown primarily through word of mouth. SFM now features three licensed advisors — Sommers, Butcher and Lead Advisor and Scappoose Branch Manager Joyce Pereira — along with St. Helens Office Manager Misty Chatterly and Client Relationship Manager Vivian Rupe.
That expansion eventually led to the launch of the new Scappoose office.
"It was difficult decision, but I … thought 'I'm going to invest in my business. I'm going to invest in new staff and hope to get a return,'" Sommers said, adding that "Our objective is to develop long-term relationships with our clients. Now, with two offices and an expanded staff, we are able to serve even more clients."
More information is available at sommersfinancial.com.
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