NCA Financial Planners celebrates 35th anniversary

As NCA Financial Planners in Mayfield Heights celebrates a milestone anniversary this year, President and CEO Kevin H. Myeroff reflects on the company’s growth.

“We’ve grown from managing no money to managing $1.5 billion and we’ve grown from three people to 30 people,” Myeroff said. “But the biggest difference has been in how financial planning has changed over those 35 years.”

What started as a product- and fund-oriented service has evolved in favor of a more holistic approach.

“It has more to do with what your goals and objectives are,” Myeroff said. “Investment management is just one piece of the pie.”

And according to Myeroff, changes in financial planning and estate planning now go hand in hand.

Noting estate planning laws have changed many times over the 35 years NCA Financial Planners has been in business, Myeroff said the premise hasn’t really changed.

“To me, there’s two tentacles of estate planning, which are to minimize costs and taxes at somebody’s death, and then to make sure the assets get to those you wish to receive them,” Myeroff said. “So those two things are the same, but I also think that the way that they go about it has changed sort of like financial planning has. It’s become a little bit more holistic in how they talk to people and the questions they ask.”

Myeroff said “in the old days” estate planning attorneys would create an estate plan for a client, but after turning in their list of suggestions, they would often be out of the picture.

“Very few clients ever did anything with what they were supposed to do, so they paid all this money for estate planning, but they never implemented any of the recommendations to make the tools they paid for work,” Myeroff said.

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