As the coronavirus pandemic continues to wreak havoc with the stock market, the economy and individual finances across the country, a trusted and knowledgeable financial advisor is important now more than ever.
Philip Settembrino—president and owner of Northern Westchester Financial Services in Yorktown Heights—fully understands the volatile fiscal conditions in which we find ourselves and he and his team have the experience and expertise needed to help keep you on the path to sustainable financial health.
“We believe investment products won’t solve your financial goals, but a well-constructed financial plan will,” Settembrino said. “It’s not one-size-fits-all. You have to look at it holistically. Does the client need to pay off a mortgage, figure out cash flow or reduce expenses? These are some of the aspects that we need to touch on. It is not a salesman’s approach. ”
Settembrino says Northern Westchester Financial Services acts like a personal chief financial officer, setting goals and providing clients with the tools and advice to manage them.
“We make sure that we are focused on solving what goals the clients look to achieve, and we construct a plan for that and then hold ourselves accountable,” Settembrino said. “We construct regular reviews of those plans and then monitor things such as growth, college, and retirement. Whatever it may be, we continually monitor it. It’s not a set-it-and-forget-it type of approach.”
Settembrino began his career in financial services in 2001 and founded Northern Westchester Financial Services in 2016 in order to provide his clients with a place where they could receive such holistic, transparent, unbiased, and goal-based advice.
Growing up in Yorktown Heights, Settembrino said he is proud to be a part of the community. He has served with several local organizations and has worked with clients in and around the area since he began his career nearly 20 years ago. Settembrino said he built his business on trust, confidentiality, and exceptional client service, adding that his goal is to create a comfortable atmosphere that facilitates education and open communication for clients to discuss their questions and concerns.
“Ongoing education for our clients is critical,” Settembrino said. “One of the biggest parts of my job is helping to put complicated topics into easy-to-understand concepts. In my industry, there is a lot of jargon that goes over people’s heads and can confuse them. But I try to be fully transparent and give clients an understanding of why we are doing what we are doing. They might tell me that they saw an ad on TV and wonder, ‘Does this apply to me and why?’ So, we feauently send our clients information relating to topics of interest in an attempt to educate them about changes or events to may relate to their situation.”
Settembrino notes that money is an emotional topic—especially in the current conditions—and Northern Westchester Financial is ready to provide support and guidance.
“When it comes to money, people have strong emotions,” he said. “We need to supply emotional support for things such as market corrections, volatility, loss of a job, death of a loved one. You have to be there for people.
“We try to be there for all aspects of our clients’ lives, not just the financial market,” he added. “We have good relations with our clients. Before the shutdown, they could come in and have a cup of coffee and talk about life. Being there during the hard times and guiding them is important.”
Strategic coordination with other professionals is also crucial to a client’s financial well-being and Northern Westchester Financial knows how to do that.
“We work with other professionals, whether it’s the client’s accountant, their attorney or their mortgage broker, in order to get it done,” he explained. “We need to coordinate, whether it’s to help with a will or to minimize taxes. We will work in concert together.”
Settembrino has been recognized as a top adviser within his broker-dealer Cadaret Grant since 2006 and received Directors Counsel and Preferred Partner recognition with various mutual fund and annuity companies. From 2009 through 2012 he was selected Best in Client Satisfaction Wealth Manager by Westchester Magazine. In addition to obtaining the Series 7, 63, life and health insurance licenses, he holds the Certified Wealth Management certification through the American College of Financial Services and is a magna cum laude graduate of the University of Hartford with degrees in economics and finance.
In his spare time, Settembrino enjoys spending time with his family, living an active lifestyle in Dutchess County with his wife Andrea, son Anthony, and daughter Ava.
Securities and Advisory Services offered through Cadaret, Grant & Co., Inc., a Registered Investment Advisor and Member FINRA/SIPC. Northern Westchester Financial Services and Cadaret, Grant & Co., Inc. are separate entities.