Dear Friends, Family and Clients:
We are excited to embark on a new path in our relationship that will elevate our commitment to you and strengthen our ability to help achieve the purpose you envision for your wealth.
On May 1, we launched our own independent investment management and advisory firm. Although we are keeping our name, Cribstone Capital Management, we will now be an independent firm and will no longer be associated with Ameriprise Financial. Cribstone is also extremely pleased to announce that we will be joined by John Duffy and Matthew Daigneault, formerly of Duffy Anderson Investment Management. We chose to retain the Cribstone name as the bridge’s one-of-a-kind design and long-lasting structure reflect our mission to combine comprehensive and innovative financial planning with creative investment solutions that address our clients’ unique demands, values and long-term goals.
Why Independence Now?
Three key themes converged in our decision to become independent. First, while we always operated as though we have a fiduciary responsibility, we can now formally and legally comply with this exceptional advisor-client relationship standard. Secondly, we will now have the latest and highest performing trading systems as well as access to a far broader selection of investment research resources to support our independent and objective portfolio management process. Finally, we’ve broadened our advisory team, adding valuable perspective and experience to our firm. Independence is a deeply rooted Maine tradition, and it defines our ethos as well.
- Fiduciary Duty As an independent registered investment advisor, Cribstone assumes a strict legal fiduciary duty to serve our clients’ best interest and disclose all conflicts of interest. We understand profoundly that trust, advocacy and transparency are essential to any long-term relationship. As independent advisors, we can ensure that as a firm, Cribstone’s success is fully aligned with our clients’ goals.
- Leading-Edge Technology Resource Access We will now have a state-of-the-art trading platform in order to execute more efficiently portfolio management decisions that reflect your goals and values. Furthermore, we are free to “go anywhere” for the most attractive investment opportunities and to receive the best and most cost-effective custody and execution services to ensure clients’ interests are placed above all else.
- Deeper Team John Duffy and his partner, Matthew Daigneault, formerly of the respected Cumberland Foresidebased firm, Duffy Anderson Investment Management, have joined Cribstone’s ranks. This deepens and broadens our expertise and capabilities. We are excited to welcome John and Matt to our team and pleased that they bring to Cribstone a shared philosophy of purposeful investing and a focus on managing families’ financial future and well-being.
Building Our Future—Next Steps
The enclosed information provides an initial overview of how our independence will enable us to serve you and your family better. We will be reaching out to you in the coming days to discuss any questions you may have about this change, including details about the smooth transition of your accounts to our custodian, Charles Schwab, one of the most respected financial firms in business today.
In the meantime, you can be confident that as the newly-independent Cribstone Capital Management, we will maintain the utmost integrity and transparency during this mutually beneficial transition. The coordination of your tax, legal and estate planning objectives is becoming a more integral part of our practice and roles as your investment advisors and advocates. We stand dedicated to delivering exceptional personal service, objective investment advice as well as creative customized solutions as we have done in the past.
From our family to yours, we look forward to an exciting future together! With warmest regards,
Scott Upham, Managing Partner
Director of Wealth Management
Odette S. Thurston, Partner