Infiniti -- 'we put clients' priorities first'
For Bob McDermott, putting people first has been key during his years of financial practice.
As treasurer for the town of New Milford from 1979 to 1986 and a member of the town's Board of Selectmen before that, he has long held a vested interest in his community.
Mr. McDermott, a certified public accountant, took that commitment to the field of investment management and planning, founding Infiniti Wealth Management LLC in 1994.
He opened the present office at 23 South Main St. in New Milford in 1998.
Today, the three men offer hands-on care and commitment to clients' financial planning in 15 states, from Connecticut to California.
"It's all about trust," said Mr. McDermott, now an associate/advisor in the firm. "I've had clients for over 25 years and have seen wealth passed on to the next generation."
"I recently had a client die and, through working with him over the years, had the succession plan and estate plan in place as he wished for his family," Mr. McDermott added. "I am working out its management now with the attorney."
Putting clients' financial needs "in order" and securing their futures comes first, Mr. Durante said.
As registered investment advisors with the Securities and Exchange Commission, Mr. Durante and Mr. Waters' fiduciary duty is a priority to their clients.
That means bringing maximum payback for clients investments is their priority. They are "more cost conscious and tax conscious" when advising their clients in investments than a large firm broker would be, said Mr. Waters, who has 15 years' financial experience.
"We're like quarterbacks," Mr. Waters said. "We can't be all things to all people. We send clients out to the right specialists, guiding them to guys like Bob, a CPA with tax knowledge, or a trust attorney."
Working with women at times of transition in their lives is a specialty of the firm.
Mr. Durante and Mr. Waters helped their own mothers through the financial transitions following their respective fathers' deaths.
"It was eye opening," Mr. Durante said. "Much of it was daunting to my mother, who had never handled the family investments.
"I had to look at everything from the big picture perspective and break it down, have her take things one step at a time," he explained.
From working with divorcees, both men saw a need for financial advisement for divorcing couples before any settlement could go through.
In tandem with both parties' divorce attorneys, they "go over finances with the couple to get the best ultimate outcome for each party," Mr. Waters remarked.
Whether retirement planning for an older client or investment planning for a young couple, the team of Infinity Wealth Management LLC takes a Modern Portfolio approach to investing.
"That means you should be well diversified in many asset classes," Mr. Waters concluded. "By following our research, we can help you to reach your investment goals."