Financial Advisor - Marcel Wasserman

BACKGROUND

Introduce your business and what you do there.

We’re a consulting company in the food industry. I’m a senior consultant and the chairman of the organization.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Shepherd Consultants?

They brokered investments in life insurance portfolios for us.

SOLUTION

What was the scope of their involvement?

Shepherd provided financial planning. We had face-to-face meetings with them initially, where they gave advice on our finances, insurance policies, and investments. We had virtual meetings after COVID hit.

They educated us on various investment portfolios, including life and vehicle insurance policies.

What is the team composition?

We worked with one person from Shepherd.

How did you come to work with Shepherd Consultants?

It was probably through a reference. We looked at some of their competitors as well, and we thought that Shepherd would address our needs the best.

What is the status of this engagement?

The collaboration started in mid-2016, and we still work with them on and off. They still hold some of our portfolios. We shifted some of our portfolios to another company in 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We were happy initially, but we found out later on that the insurance company we were handling our policies with was becoming too expensive, and we had to shift to another one. Shepherd Consultants’ services were excellent in general.

How did Shepherd Consultants perform from a project management standpoint?

We’d go to their office if we had anything to discuss. We switched to online communication after COVID, and we’d meet face to face twice a year. The project management was excellent.

What did you find most impressive about them?

They're very friendly, they give us personal attention, and they’re professional and time-conscious.

Are there any areas they could improve?

They could listen to our needs a bit more. When we were extending our portfolio, we informed them that the products they were offering us were becoming too expensive. There wasn’t enough attention given to how our financial position. There was a change that required us to review our budget and portfolios, in terms of how much we were paying to the insurance company. Shepherd’s intervention didn’t happen at the speed we expected.

Do you have any advice for future clients of theirs?

They’re a very good company, and I’d recommend them to anyone.