Your Financial Coach Inc
The Challenges of Inheritance
To say that Jeffrey C. Furest, president of First Financial Services of Michigan, was born to manage money isn’t far from the truth. The Co-Principal and Chief Compliance Officer of Your Financial Coach Inc. has more than 30 years experience in financial coaching and consulting, and he helped launch First Financial Services (FFS) as one of southeastern Michigan’s largest financial seminar providers for public and private organizations. He is the third generation of his family in the business, beginning with his father and great uncle.
“I was born into this industry,” Furest told The Suit Magazine. “It’s not a job – it is a calling. There was always a passion to be in the business, not just to work with my dad, but to have an independent career and be my own boss.”
First Financial Services of Michigan, located about 20 miles north of Detroit, was founded in 1977. Its main focus is business and estate planning for business owners and executives. Throughout the 1980s, the firm was one of southeastern Michigan’s leading financial education providers, with more than 3,000 individual investors passing through its financial coaching programs since 1985.
In 2010 the company expanded both its services and organization by form- ing Your Financial Coach, Inc. a Registered Investment Advisor, now with nine advisors in five states.
“We’ve seen it all – I’ve seen it all. I’ve seen traditional financial planning models; I’ve seen traditional brokerage models; And I’ve seen the transition to the fee-based arena,” added Furest.
An asset allocation presentation by a long time friend was a flashpoint in Furest’s career. The transition to a fee-based service model was sparked through its affiliation with the Cincinnati, Ohio-based firm, Matson Money, Inc., founded in 1991 by Mark E. Matson, a registered investment advisor with the SEC. Currently, Matson manages in excess of $5.5 billion in assets