MILWAUKEE, WI, August 06, 2014 /24-7PressRelease/
-- Stephanie Chedid, AIF, President of Cleary Gull Advisors, presented at the 10th Anniversary LeadingAge New York's Continuing Care Retirement Communities (CCRC) Summer Summit on July 31 to August 1, 2014 at Kendall at Ithaca.
Chedid's presentation "Benchmarking Your Investment Program: A Senior Living Industry Perspective," reviewed the preliminary results of Cleary Gull's third Senior Living Study specifically for New York's Continuing Care Retirement Communities and included an update on the proposed changes to Reg 140, a New York State regulation, to encourage increased development of CCRCs.
Chedid highlighted possible ramifications of investment restrictions that limit access to some asset classes included in current New York State regulations and suggested why proper investment diversification is more important than ever. She has been integrally involved in a special LeadingAge NY Regulation 140 task force, where she partnered with other industry executives to champion revisions to the regulations.
Said Chedid, "The CCRC model faces several headwinds in the state of New York that have inhibited growth in the number of communities. We are encouraging New York to create a simpler calculation for allowable equity investments, and allow the use of mutual funds and ETFs without requiring exemptions, among other suggestions. This will help towards leveling the playing field with CCRCs in other states and help increase the potential for NY CCRCs to earn a reasonable rate of return on surplus assets for the benefit of their residents."
For a copy of Chedid's presentation including the preliminary survey results, click here
.About Cleary Gull
Cleary Gull (www.clearygull.com
) is an employee-owned firm headquartered in Milwaukee, Wisconsin providing specialized financial services through two operating divisions: Investment Advisory and Investment Banking. Cleary Gull was named by Financial Times to their list of 2014 300 top registered investment advisors in the U.S. Cleary Gull has combined assets under management of $2.5 billion as of December 31, 2013 and focuses on high net worth individuals, pilots, and not-for-profit hospitals and senior living communities across the nation. Cleary Gull's investment bankers specialize in providing exclusive advice on sales, mergers, acquisitions, private debt and equity capital placement, typically for transactions from $10 million to $200 million.
About the 2014 Financial Times 300 Top Registered Investment Advisers List
The Financial Times solicited applications from more than 2,000 independent registered investment advisory firms. To be considered, advisers solicited by the Financial Times completed and submitted a questionnaire about their practice. Only those that completed the questionnaire were considered for the list. To qualify for the list, advisers must be registered with the SEC and have at least $300 million in verified assets under management as of 12/31/13, with no more than 75% of a firm's assets being institutional. The Financial Times graded advisory firms that were considered for the list on six broad factors and calculated a numeric score for each advisor. Areas of consideration included AUM, AUM growth, years the firm has been in existence, industry certifications of staff, SEC compliance record, and online accessibility. The list is independently determined by the Financial Times. The registered investment advisory firms are not charged a fee for consideration or selection. Being named to the "300 Top Registered Investment Advisers" list is not an endorsement and is not indicative of past or future performance.
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