CIANJ Commerce Magazine September 2020 Live | Page 40

■ Annual Best Practices Guide
Continued From Page 36
FINANCIAL SERVICES
First Capital
Advisors Group
By James D. Hiles,
ChFC, Partner
We challenged ourselves to
seek opportunities and picked
up the pace of decision-making.
Our philosophy of challenging the status
quo was put to the test. We changed over
technology for 100 percent remote working in
two days and established an online procedure
that mimicked the work week. Operationally,
we cut expenses such as marketing outside of
e-commerce, travel, and entertainment and
projected our P&L to find funds to retain people
and services. Service had time to reach out
and talk to customers and they did so, which
helped solidify relationships. We are preparing
new marketing campaigns using more social
media and follow-up to target markets. We
have also used this time to assess acquisitions
and moved on several proposals.
FINANCIAL SERVICES
Lincoln Equities Group
By Joel Bergstein,
President
Amid medical and supply
chain challenges associated
with COVID‐19, our firm,
Lincoln Equities Group, has
created a Life Sciences division dedicated to
acquiring bio-pharma manufacturing sites
in the Northeast. This June, we announced
the acquisition of a 1.2 million-square-foot,
433-acre life sciences campus in Hopewell,
New Jersey, formerly owned by Bristol-Myers
Squibb. The sprawling site is located along
the Boston-Washington, D.C., life sciences
corridor in central New Jersey’s research technology
region. The campus will cater to U.S.
pharma manufacturers looking to re-shore
or expand in the United States—as the pandemic
rages on and U.S. officials look to bring
manufacturing back onshore. With the recent
transaction, our Life Sciences division has
expanded to nearly 2 million square feet. We
expect to see an influx of investment across
the state, given the current public health and
political climate.
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38 COMMERCE www. commercemagnj.com
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Morgan Stanley
Wealth Management
By Sandra L. Richards,
Managing Director,
Head of Global Sports &
Entertainment and Segment
Sales & Engagement
Over the last few months, I have embraced
flexibility. Now more than ever is a time to be
open, resourceful, and creative. My team and
I are strategic thinkers, so it has been exciting
to find new ways to connect and engage with
Financial Advisors (FAs) and their clients in
a virtual world. We are in the midst of a pandemic
and relationship management is still
crucial to the Wealth Management business.
How can we continue to manage existing and
acquire new relationships virtually? At Morgan
Stanley Wealth Management, I lead Global
Sports & Entertainment and Segment Sales
& Engagement. My team and I have pivoted
and prioritized virtual engagement with FAs
and their clients. This means Zoom meetings
and client webinars, as well as enhanced social
media and marketing initiatives. By embracing
flexibility and thinking strategically, we
have thrived and pursued growth opportunities
despite the current environment.
The DAK Group
By Alan Scharfstein,
President and CEO
We guide business owners
through the process of selling
their middle-market companies—getting
the right value
and finding the perfect buyer. Typically, this
involves presenting the business, its economics,
its strategic positioning and its management
to potential acquirers. Face-to-Face
meetings allow buyers to better understand
the business culture and strategic fit. The pandemic
has moved us to use technology—video
and multi-media presentations—to “bring the
business to life”, showing facilities, manufacturing
processes etc. to parties interested in
a company that they cannot physically visit.
We had built out a robust visual communication
platform prior to the pandemic, which
has proven invaluable in our internal and
client communications. We are keeping all
our employees engaged with daily meetings
to discuss client activities and often bring in
outside experts to provide information on the
state-of-the-market and other specific topics.
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