Your Fi­nan­cial Coach Inc

The Suit - - Contents -

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

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