Money is a paradox: it's something people want to spend and save at the same time. It's something they want to have, but don't like to talk about—or sometimes even think about. Even for those who are responsible with their funds, it's a huge challenge to plan for changing life circumstances, or to understand the stocks, bonds, mutual funds and thousands of other investment opportunities in existence. Enter the financial advisor. This is the professional trained to help make sense of it all so that you can realize your financial goals. Like a coach, your financial advisor might also be the one to get tough with you when you're not following through with the daily steps you need to take to remain on track. Financial advisors will also adjust your fantasies with some fiscal realism.
A good advisor is part accountant, part therapist, part teacher and part friend. That's why it's so important to work with financial experts like Jack and Jennifer Gibbs at Fortress Financial. Jack and Jennifer work as a team to help clients plan for the kind of life they want to live and for the future they hope to pass on to their loved ones. They can also speak from experience—they are married with two bright and curious young daughters, Ainsley and Brianna, who like many children today will need plenty of money stocked away for college. Both Jack and Jennifer are CPAs, but offer much more than tax expertise to their clients. "Relationships with clients are intensely personal," explains Jack. "It's like being a physician. And just taking care of someone's taxes is like treating only one tiny part of the whole body. I don't believe that's the right way to approach it." To offer a full range of services and investment opportunities to clients, Jack is aligned with H.D. Vest Financial Services as one of about 5,000 independent advisors licensed to provide investment and financial advisory services. "We chose H.D. Vest because it primarily licenses CPAs and attorneys," says Jack. "The company understands our culture and integrates well with our business philosophy." Jack appreciates the support he receives from H.D. Vest so much that he became a Chapter Director, which means he leads monthly meetings with other advisors and goes to conferences regularly. "Every time I go to a conference, I always come back bursting with new ideas," says Jack. Best of all, the H.D. Vest affiliation allows Jack to remain independent and provide unbiased advice tailored to clients' needs. "We will look at a whole spectrum of options for our clients," explains Jack.
To stay on top of your finances, Jack recommends regular meetings to discuss what's new in your life and if you're facing any changes ahead, such as a new job, a raise, a new member coming into the family or impending retirement. As CPAs, Jack and Jennifer do take care of tax issues for their clients. But Jack is also independently licensed as an advisor, broker and insurance provider so that he can provide clients with comprehensive services. Fortress Financial clients can choose from a variety of insurance policies with the exception of health and disability. Jennifer is also licensed as a real estate broker under Fortress Real Estate Services, to help clients who are interested in investing in real estate. "Taxes are the blueprints of your financial world," says Jack. "After years of looking at my clients' tax forms, it really became second nature for me to see how people could be taking advantage of any number of plans to help them meet their goals, such as saving for their kids' education or for their retirement."
 Jack has always had an interest in business and finance that drove him to strike out on his own as an entrepreneur. After getting a degree in Business Administration at Notre Dame, he took a job at esteemed accounting firm Ernst & Young in Chicago. Jennifer was the same way, too. She grew up in Batavia, New York and studied at SUNY Fredonia, a liberal arts college known for its focus on theater and music. She, however, went against the grain to study accounting there. "I liked the idea of getting into business," recalls Jennifer. "I also liked the fact that I was pursuing something that other people found challenging. In this profession, I knew that I'd be able to get a job right out of school." She did, and went to work for corporate accounting firm Grant Thornton LLP in Chicago. Meanwhile, Jack left Ernst & Young to join a friend in starting an accounting and consulting firm in Wheeling, Illinois. He worked there for five years, building up the experience of serving clients in a small-firm atmosphere. In 1993, he left and founded a new practice, Jack D. Gibbs, Ltd. He began small, working out of a studio at Clark and Armitage and specializing in tax preparation. But even in the early days, his dad encouraged him to see beyond providing tax services to his clients. "Although I was focused on tax work at the time, I was always aware of the broader picture," says Jack. "My dad encouraged me to leverage my client relationships to do more for them, so I got licensed to provide financial solutions in 1996."
Jennifer came into the picture a year later, in 1997, when they met at a St. Patrick's Day party. "As soon as I learned that she worked for Grant Thornton, I instantly found that interesting," says Jack. "She struck me as a super-kind, unpretentious and down to earth person, and someone I really needed to know." While they were dating, Jennifer would stop by Jack's studio after work and help him. At the time, Jack D. Gibbs, Ltd. was growing, with a blizzard of work coming from client referrals. "I finally quit my job at Grant Thornton in 1998," says Jennifer, "when he sweet talked me into working for him." They married in 2000 and moved their home and business to Lincoln Square the next year. Once Jack became licensed as an advisor, the company evolved into Fortress Financial. Its office, located in a clearly distinguished space in the lower level of their home, is tastefully decorated with antique furniture and influenced by the presence of a prominent portrait of Abraham Lincoln on the wall. It's the best of all worlds for Jack and Jennifer, who clearly value being close to both their children and their work.
As Fortress Financial, Jack and Jennifer focus on full service financial planning. "After working as CPAs for so many years, we had seen the often disastrous results of people trying to invest on their own," explains Jack. "We wanted to help prevent this for our clients." People face any number of challenges in life that call out for the help of a financial planner. Increases to your income, adding dependents, planning an estate, naming or changing beneficiaries, marriage or divorce, new jobs, rolling over a 401k or starting an IRA are just a few times when you should be rethinking your financial plans. Complex tax rules can be difficult for even savvy budgeters to understand, such as the Alternative Minimum Tax (AMT), which Jack sees hitting more and more filers every year. What makes Fortress Financial stand out from the legions of other advisors is Jack and Jennifer's deep knowledge of ever-changing tax codes. "What differentiates us is that we are extremely knowledgeable about how your investments will work within your tax bracket and will impact your tax situation," says Jack. That's why both Jack and Jennifer advocate making adjustments to your plans as you go along, a necessary part of maintaining your financial security. "No one I've ever met has a set-in-concrete life plan," says Jack. "Life is always changing. But people have to take some initiative in order to take advantage of the incentives out there. They won't do you any good if you don't use them. Sometimes you have to trim the tree to make it grow into something better." Unlike many CPAs, Jack isn't afraid to get tough with clients or to tell them what he really thinks. "I have no problem speaking with conviction because I can speak from my experience," says Jack. "Of course, I can't guarantee specific results, but I can give good advice." What it's really about is making educated decisions, rather than random ones, or worse yet—no decisions at all.
Whether you've had some heart-to-hearts about money lately or not, now is the time to consider working with an experienced financial advisor. Making plans may seem intimidating, but Jack and Jennifer at Fortress Financial find this to be a promising time in people's lives. "Working with our clients is really exciting and gives us a high level of satisfaction," says Jack. "You're important to them and you're making a huge impact on their future. It's a very meaningful relationship." At the least, a financial advisor can help you put your nerves about money aside so that you can make logical, smart decisions. "You can build wealth without earning a lot," explains Jack. "Money allows the freedom to do good things, like funding charitable pursuits." The most important thing is to do something with your money now. "We help our clients find a balance between the here and now and the future," says Jack. "You can more fully enjoy the moment if you're at peace." If it's time for you to talk to a financial advisor about your future, contact Jack and Jennifer at Fortress Financial to discuss your options. The best way to start is by scheduling an appointment for a casual talk about where you are and where you want to be.
Fortress Financial Group
4524 North Oakley Avenue
Chicago, IL 60625
773.334.0700
www.fortress-financial.com
Hours:
By appointment.
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