Boutique Investment Firm, Inverness Investment Group, Adds Paul T. McCormack, CFP(R), AAMS(R) as Senior Vice President for Wealth Advisory Services

BEACHWOOD, Ohio, Feb. 22 /PRNewswire/ -- Inverness Investment Group, an independent investment counsel and wealth management firm located in Beachwood, OH announces the addition of Paul T. McCormack, CFP®, AAMS® as the Senior Vice President of Wealth Advisory Services for their firm.

Mr. McCormack joins the already impressive team of Rick Renner, John Bartels, Jeff van Fossen, Howard Essner, Bob Renner and Peter and Molly Balunek, CFP®.  Together, our team brings well over 100 years of experience in all areas of wealth advisory services.

Mr. McCormack joins Inverness from UBS Financial Services, Inc. where he and his team managed more than $500 million for entrepreneurs, business owners, corporate executives, medical professionals and attorneys, helping them meet all their wealth management goals and objectives.   McCormack brings more than two decades of experience in financial and wealth advisory services to the Inverness team.  Prior to his six years at UBS, McCormack was a financial advisor at Sagemark Consulting, a division of Lincoln Financial Advisors.  In addition, McCormack spent more than 10 years as an investment banker most recently with the corporate finance group of the International Accounting firm of Ernst & Young.   During this time McCormack worked with business owners and public companies assisting in the negotiations and closing of more than 50 transactions ranging in size from $5 million to well over $1 billion.

Inverness' founding Principal, Richard B. Renner, made the announcement, "we are delighted to add Paul's considerable talents to our firm.  Quality advisors like Paul are hard to find but more and more of them are looking for the unbiased independence they get with opportunities at boutique firms like Inverness Investment Group."

McCormack concurs, "It's subtle, but I have definitely seen a shift in the recent past as seasoned advisors migrate to small and mid-sized boutique firms and away from large diversified financial services companies." McCormack added, "I am looking forward to the investing flexibility and freedom my clients and I will have with Inverness.  Inverness' open, unbiased approach to wealth management as well as their investment philosophy is well aligned with mine.  Their unwavering commitment to delivering an extraordinary level of consistent customer service and customized portfolio management is a refreshing change from the restrictive cookie cutter, one size fits all products and services attitude so prevalent in many of the larger brokerage firms today."

According to "The Financial Planning Institute Compensation and Staffing Study", independent wealth management companies like Inverness are the fastest growing segment of the Financial Planning Industry. Another study – conducted by The Financial Services Institute, found that the largest individual segment of the financial advisory industry is the independent or "boutique firm".  The January 4th, 2010 front page article of the Wall Street Journal highlighted how independent firms such as Inverness are the fastest growing segment of the wealth management business because of their independence from large financial institutions and the products created by their investment banks.  Inverness has no products of its own to "sell" clients.  Instead, Inverness provides a portfolio management climate completely free from conflicts.

Inverness Investment Group is a full service wealth management boutique providing investment advisory, tax and estate planning services to affluent individuals, families and business owners primarily in Ohio, the Midwest, Florida's gulf coast and Northeast. Inverness is located at One Chagrin Highlands, 2000 Auburn Drive, Suite 440, Beachwood, Ohio 44122, Tel: (216) 839-5130, Tel: (866) 635-0388, Fax: (216) 839-5131 and on the web at www.investinverness.com.

Inverness Investment Group is a registered investment adviser with the Securities and Exchange Commission of the United States.  A more detailed description of the company, its management and practices are contained in its registration document, Form ADV, Part II.  A copy of this form may be received by contacting the company.

SOURCE Inverness Investment Group