Johnathan Rickman | Blue Vault
Cornerstone Wealth Management, a Raleigh, NC-based financial services firm, was founded on of a leap of faith. Former pastor R. Floyd Green founded Cornerstone in 1986. The theologian-turned-financial advisor was keen to prove that there’s more to wealth than just money, and that our values and professional talents intersect to make us a whole person.
The gambit paid off, and today Cornerstone serves an ever-growing flock of accredited investor clients. The small firm consists of five financial advisors and seven other team members. Green retired in 2019, and Cornerstone is now led by Nate Oltmans, a firm Partner and its Director of Advisors. Cornerstone manages a total of $250 million in assets.
Wealth Redefined
Oltmans is Certified Kingdom Advisor, a designation that helps financial advisors, certified public accountants, and estate planners integrate their Christian faith with their practice. Oltmans says everyone at Cornerstone shares the same faith and attends Kingdom Advisors’ conference.
“When we talk about wealth, we talk about eternal wealth,” says Oltmans. “It’s not just money, but all the things that go along with it: relationships, generosity, joy — the things that money can help with, but doesn’t provide by itself.”
Cornerstone’s conversations with clients seek to line up money management with biblical principles at all phases of the relationship.
“We think there is too much worry and distraction in the world, and we want to do what we can to help clients understand where they’re at, and what they’re on track for, so that we can eliminate as much of that worry and distraction as we can,” says Oltmans.
He says that while Cornerstone advisors are openly Christian, the firm doesn’t necessarily wear that fact on its sleeve, and that they welcome clients who may or may not share their faith. “We just want to be men and women of character who are doing the best that we can for our clients,” Oltmans says.
Leveraging Technology
The firm uses digital technology to help its clients view their entire portfolio — alternatives, stocks, and bonds — as well as their monthly statements, quarterly performance reports, and tax documents.
And technology is what Oltmans is hoping will propel Cornerstone into the future. By leveraging digital solutions, he says he hopes to double the firm’s current client base of accredited investors and add two more members to its team. “We plan on using technology to maintain a really high level of service — to be able to serve more clients more efficiently.”
Alternative Investments
“Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.” -Ecclesiastes 11:2, New American Standard Bible
Cornerstone primarily works with accredited investors and, working through its broker-dealer, incorporates alternative investments to help diversify client portfolios. Oltmans cites a specific verse in the bible — Ecclesiastes 11:2 — as the firm’s mandate to diversify.
“We have found that just stocks and bonds don’t necessarily give us all the diversification that our clients want,” says Oltmans. He says the firm works with alts sponsors such as Inland Real Estate Investment Corp., Peachtree Hotel Group, Shopoff Realty Investments, Sealy & Company, and Cantor Fitzgerald.
Oltmans admits that working with alternatives wasn’t always a sure shot for Cornerstone, saying its initial experience with REITs was a little bit tricky. “Towards the end of the global financial crisis, when commercial real estate was having a rough time, we didn’t feel like we were getting the truth from some of our wholesalers,” he says. “So, we found Blue Vault as a third-party, independent source of data to help us figure out what’s actually going on with these programs. Now we have a second opinion.”
Oltmans also lauds Blue Vault for its webinars and articles, which he says give him access to ideas he may not have come across on his own. “They are a valuable resource that helps me ensure that our firm’s advisors are working with the best tools available for our clients.” Learn more about Cornerstone Wealth Management and consider joining them in becoming a Blue Vault member today!
