President Joe Biden’s revenue proposal could affect income, capital gains and estate tax rates. Find out what changes could be coming.
The Spousal Lifetime Access Trust may be the perfect tool to shift assets out of your taxable estate.
Its better to be safe than sorry. Make your estate planning a priority in 2021.
2020 was without a doubt an interesting year. Despite all the challenges, the economy rebounded sharply. What does the future have in store for 2021?
Lessons on estate planning from Thoreau’s masterpiece.
Are you suffering from Presidential Election Fatigue? Let’s take a look at the 1920 U.S. Election for some healthy historical perspective.
Recently, Thomas W. Wilkins retired as CEO of Trust Company of Oklahoma after 30 years serving our clients. He will remain as Chairman of our Board of Directors and the values he has instilled in all of us are his strongest legacy.
Couples get better investment results when both spouses discuss their views with their financial professionals.
Six tips to avoid mistakes and litigation when serving as individual trustee.
It’s an Apple-and-Tesla new world. Let’s talk about paradigm shift.
The essential estate planning documents to ensure your new adult is legally and financially prepared for adulthood.
Trust Company of Oklahoma (TCO) is proud to announce that Vice President Whittney Stauffer has been elected to the Friends of Finance Board of Directors.
The slate of officers for 2020-2021 is comprised of President: Lane Wilson, Williams; Vice President: Mike Osborne, Ernst & Young; Treasurer: T. D. Eureste, ONEOK, Inc.; and Secretary: Mike Neal, Tulsa Regional Chamber.
Since 1985, the organization founded by the University of Tulsa’s Collins College of Business has brought leading business executives to TU’s campus to share their perspectives on business issues.
“Friends of Finance fosters meaningful conversations about the economy and the financial industry. As past president of the Friends of Finance Board, I have personally supported the organization over the years. TCO is extremely proud of Whittney’s commitment to serve the organization as a board member. Her experience and skills will certainly enrich Friends of Finance’s mission” stated James F. Arens II, president and CEO of Trust Company of Oklahoma.
About Trust Company of Oklahoma
Founded in 1981, Trust Company of Oklahoma provides asset management and unbiased financial advice for individuals, families and organizations in Oklahoma and throughout the country. Trust Company of Oklahoma currently manages approximately $4.5 billion in client assets from their offices in Tulsa and Oklahoma City.
Tulsa World, July 26, 2020
James F. Arens II, CFA is Trust Company of Oklahoma’s new Chief Executive Officer (CEO) and Michael Hopper, CFP®, CTFA its Chief Operating Officer (COO). Thomas W. Wilkins is retiring as CEO after thirty years with the Tulsa-headquartered firm. Tom will continue to serve on the company’s Board of Directors.
James F. Arens, II
Jim joined Trust Company of Oklahoma (TCO) in 1997. For 12 years, he served as the company’s Chief Investment Officer and became President in 2019. Jim is also a member of TCO’s Board of Directors. He earned a Bachelor’s in Finance and Accounting from Southern Methodist University and an MBA from the University of Texas at Austin. Jim holds the Chartered Financial Analyst designation, is past president of the CFA Society of Oklahoma and is active in the CFA Institute.
Jim serves on Tulsa’s Gilcrease Museum National Board, the Asbury United Methodist Church Administrative Council and as Chairman of the University of Tulsa Student Investment Fund Board. He also serves on the investment committees for Holland Hall and the University of Texas MBA Student Investment Fund. Additionally, he is a member of the Young Presidents Organization (YPO) in Tulsa.
“Jim has demonstrated dedication to our clients and to the company for over two decades. His experience as Chief Investment Officer at TCO, along with his management skills, are two of the many reasons why our company is in great hands,” stated Thomas W. Wilkins. “I can’t wait to see TCO continue to grow under Jim’s leadership,” he added.
Michael has been with TCO since 2013. He is an Executive Vice President, a member of the Board of Directors, and Manager of the Agency Division. Michael serves individuals, families and businesses with trust management, retirement planning and financial advice. Prior to joining TCO, he accumulated nearly 10 years of insurance and investment experience.
Michael has a Bachelor’s of Business Administration in Economics from the University of Oklahoma. He is the current President of the Tulsa Estate Planning Forum. Michael is a Certified Financial Planner (CFP®) professional and holds the Certified Trust and Financial Advisor designation.
About Trust Company of Oklahoma
Trust Company of Oklahoma is the oldest and largest independent trust company in the state, with locations in Tulsa and Oklahoma City. Founded in 1981, the firm provides asset management and unbiased financial advice for individuals, families, and other organizations in Oklahoma and throughout the country. TCO currently manages approximately $4.5 billion in client assets.
Tulsa, Okla., July 26th, 2020: Trust Company of Oklahoma (TCO), the oldest and largest independent trust company in the state, is proud to announce the promotions of Philip D. Mock to Chief Investment Officer (CIO), Nick Gallus to Director of Investment Research, and Bri Ghosn to Controller. In addition, TCO has hired John Priebe and Jackie Jimenez as Assistant Vice President and Compliance Officer, respectively.
PHILIP D. MOCK
As Chief Investment Officer (CIO) and member of the Board of Directors, Philip D. Mock, CFA, CPA, CFP® will manage TCO’s investment portfolio. He joined the company in 2016 as a portfolio manager. Since then, he has been helping clients achieve long-term goals by developing a tailored investment plan. Prior to that, he worked at Mariner Wealth Advisors, at BOK Financial and at PwC, LLP. Philip holds a master’s degree in Accounting and Bachelor’s in Accounting and Sociology – all from Oklahoma State University. He is a certified public accountant (CPA) and a Certified Financial Planner™ professional. Philip is a member of the Oklahoma Society of CPAs and the American Institute of Certified Public Accountants.
Director of Investment Research Nick Gallus, CFA joined TCO in 2014, where he serves as a portfolio manager in the Investment Management Division. In his new role, Nick will analyze, assemble and design investment strategies for TCO’s clients and assist with the implementation of their investment portfolios. Nick has more than a dozen years of experience in the investment management industry, spending the first half of his career as a securities analyst at several different firms. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society of Oklahoma. Nick also has experience as a credit analyst of high yield bonds and structured products. A native of Minnesota, Nick earned his Bachelor’s degree in Business, Finance from the University of Minnesota in 2003 and his MBA from the University of California, Berkeley in 2013.
Vice President and Controller Bri Ghosn, CPA, CFP®, CDFA® will have responsibility for all accounting-related activities. She joined TCO in 2018 after working at Mariner Wealth Advisors for five years. Before that, she was a tax analyst for individuals and small businesses at CCK Strategies, as well as a relationship associate in trust administration for Bank of Oklahoma. Bri has over a decade of experience helping clients navigate the complexities of financial planning. She is a CPA and holds both the Certified Financial Planner (CFP®) and the Certified Divorce Financial Analyst (CDFA®) designations. She graduated from Northeastern State University with a Bachelor’s in Business Administration with an emphasis in Accounting.
John Priebe will provide TCO clients with investment management advice. John came to the firm from Mariner Wealth Advisors, where he worked as a Wealth Advisor. His duties there included analyzing risk, financial planning, and investment management for private clients and family offices. Prior to that, John spent 12 years working at Northern Trust in various roles across the country. John graduated from North Central College with a Bachelor’s in Small Business Management and from Lynn University with an MBA in Investment Management. John holds the Certified Financial Planner (CFP®) designation. He is a member of the CFA Society of Oklahoma, and a CFA Level II candidate.
Jackie Jimenez has over a decade of experience in the accounting and auditing industry. She previously served as a Senior Auditor for firms in Texas as well as Tulsa (OK), with an emphasis in financial institutions and retirement plans. As a Senior Auditor, she has supervised staff members and collaborated with clients to ensure internal audits, agreed-upon-procedures, or year-end audits were appropriately completed. A native of Texas, Jackie earned her Bachelor’s in Business Administration with a major in Accounting and a Master of Science, Accounting from the University of the Incarnate Word in San Antonio (TX).
“Both John and Jackie add a lot of value to our group of professionals. With their experience working with individual and institutional clients, along with their strong knowledge of investment management and auditing, John and Jackie will help us serve clients with the highest level of expertise,” stated James F. Arens II, president and CEO of the Oklahoma asset management firm.
About Trust Company of Oklahoma
Founded in 1981, Trust Company of Oklahoma provides asset management and unbiased financial advice for individuals, families and organizations in Oklahoma and throughout the country. Trust Company of Oklahoma currently manages approximately $5 billion in client assets from their offices in Tulsa and Oklahoma City.
Oklahoma families now have the right to install monitoring cameras in assisted living residents’ rooms. This could help avoid abuse and neglect, but also provide peace of mind during lockdowns. Read Lesa Creveling’s article on Tulsa World.
Philip Mock reviews TV series about Michael Jordan.
Key documents to ensure your health care decisions will be followed.
IRA and estate planning without the stretch provision.
Have you received a stimulus payment made to your deceased spouse? Here is how to return it.
If you (or a family member) ever placed a child for adoption and don’t want him to be an heir, you should revisit your estate planning documents.
U.S. crude sold at -$37.63 a barrel on Monday, a historic drop below zero. How did we get to this point in the oil and gas industry?
How will the COVID-19 social distancing affect your life going forward? Read.
You can’t control the stock markets nor stop COVID-19. Managing investments in the midst of the pandemic.
The SECURE Act eliminated a popular feature, the “Stretch IRA.” Learn how this will impact your estate planning and charitable contributions.
As COVID-19 grips the nation, the IRS delayed the deadline to file and pay federal income taxes. Read more.
Our offices are open and our services continue uninterrupted. Read more.
In times of uncertainty with stock market and health concerns, it is easy to let fear paralyze us. Read Lesa Creveling’s article.
Although you may ask a relative or a friend to be your trustee, a corporate trustee can be a wiser choice. Learn more.
While confronting mortality can be difficult for any parent, it’s beneficial to leave your nominated guardian with a guide for raising your children in the event of your absence or incapacity. Learn more.
While the topic of substance abuse in families can be difficult, it’s a growing epidemic that is important to take into account when estate planning.
Do not fall for the Suspended Social Security Number scam.
Some resolutions are hard to accomplish. This one is easy – but very important, especially with the passage of the SECURE Act.
If you have an IRA heading into 2020, here’s what you need to know about the new tax law and how it may impact your retirement and estate planning.
Our Chief Investment Officer looks back at 2019. Stock returns were very strong, but the bond market forced investors to play the limbo game.
Now that the holidays are officially behind us, many of you are revisiting that final vestige of the season: the resolution list.
While record-keeping can be a tedious task, it’s essential to being a responsible property owner.
While dividing attendees into two tables works well for a packed house during the holidays, don’t apply this philosophy to estate planning.
Changes may be on the horizon for legislation regarding Individual Retirement Accounts (IRAs). Understanding and reviewing the proposed bills is prudent before making estate planning decisions.
Litigation can be destructive to families, both financially and emotionally. Learn how families can avoid the courts to settle their differences.
Our colleague is taking an early retirement at the end of the year. Although we don’t normally announce retirements in this publication, it is important to note a few of Bob’s lasting impacts on us, his colleagues.
What do Aretha Franklin, President Abraham Lincoln and Prince have in common? Find out.
Making Sense of the Recent Yield Curve
There can be big benefits to your family knowing your estate plan. But how to communicate to your heirs who gets what without spoiling the relationships with each of them?
Family structures have become more complex over the last few decades. Most households are now the result of blended families with working moms, adopted kids, second marriages, and the list goes on. Your estate plan needs to be customized for your specific situation.
Here we share some important guidance on when to withdraw funds from your IRA. While withdrawal may seem like an easy task, you may find yourself paying more in taxes than necessary.
We have served our clients with a fiduciary duty since our founding in 1981.
Avoid being a victim of financial exploitation.
Individual trustees do not need to face all the challenges alone.
How to handle cars in estate planning
Are you, your family members and professional advisors rowing in the same direction when it comes to your estate plan?
Social Security benefits are an important component to retirement planning. Here’s what you need to know about receiving Social Security on your spouse.
Financial exploitation and elder abuse continue to rise. How can you protect yourself and your lifetime savings? Read Lesa’s article.
It is important to invest in international stocks. Here’s why.
A Durable Power of Attorney is a super document. It allows a trusted representative to act in your place. Learn how a DPOA can help you.
Are you a small business owner or investor? Please meet Qualified Business Income (QBI) deduction.
Batman, the first comic strip trust fund baby, turns 80 today. What lessons can we draw from the Dark Knight?
Easily find out how much you owe the IRS on income taxes, long-term investment capital gains taxes, or trust taxes. A printable cheat sheet to keep on your desk.
Each day, Alzheimer’s or dementia patients are at a high risk of being financially exploited. Learn how to spot it and how to prevent it.
The oil and gas market has been a rollercoaster. Oil barrels reached the $75 price range then dropped again. What does 2019 hold for the energy industry?
It was a challenging year for investors. We wrapped up 2018 with a second 10% correction for the year. What’s driving investor anxiety and how does 2019 look like for the markets?
Estate planning and asset protection are really nothing more than building and maintaining fences. A successful plan keeps the cows (assets) in and the wolves (creditors) out.
The Trump administration recently imposed steep tariffs on several countries, including China. In retaliation, China imposed tariffs on American products. This isn’t the first time the U.S. grapples with competitive tariffs, though. Learn more about our country’s history of tariff conflicts and the current conflict’s impact on our economy.
Many retirees mistakenly believe that once they retire they won’t have to pay taxes anymore. Your retirement success depends on planning carefully your income and taxes. Read article.
The cryptocurrency’s meteoric rise in 2017 had the investment community in awe. Today, the Bitcoin phenomenon has turned into a bloodbath. Investors’ confidence is gone. Read an interview with Senior Vice President Michael Abboud about Bitcoin’s rise and fall.
Congress recently passed the largest piece of tax reform legislation in more than three decades. The bill affects most taxpayers. One area is the ability to deduct charitable contributions. Vice President Emily Crain broke it down to what you need to know.
Ensuring future generations respect your values, intentions and hard-earned savings.
Family legacy properties are extremely emotional assets. The feelings triggered by the thought of parting with the family farm, lake cabin or beach house can become the cause of tension among family members.
Creating a trust is a very important step in the estate planning process; but without funding the trust, there is no value to the trust document.
Learn to Love the Pullbacks
Hope Springs Eternal
Climbing The Wall Of Worry
Learn to Love the Pullbacks
Tax season is unnerving enough without scammers preying on you. In this article, Bob shares the latest scam to be wary of.
Will the Bull Stumble in 2014?
Joanna Murphy reviews how important language and communication are when it comes to estate planning.
David Stanley offers some helpful questions that we should be asking our financial advisors.
Jim Arens discusses what the new year might hold for both stocks and bonds and whether the strong stock returns of 2013 are likely to continue.
In this article, Melissa Taylor sheds light on a subject that has never crossed the minds of many, Digital Assets & Estate Planning.
In this article, Zac Reynolds shares his insights on the market and the safety of Bonds.
In Jamie O’Shields article, A Legacy of Wealth and Purpose, she provides helpful tips on how to make sure your family legacy is carried on… long after you are gone.
In his article, Tough Love, Bob McCormick shares his thoughts on how the possible change in Federal Reserve policy may affect interest rates and the stock market.
In this article, Jean Kates shares her perspective, as a rancher’s daughter, on why establishing a trust is so important.
In this article, Michael Hairston discusses a variety of asset protection options to consider in this uncertain world.
With a strong first quarter for stocks, Cameron Turner explains the reasons and offers his thoughts as to what the future might bring.
Don’t miss Paul Giehm’s timely article on four important principles.
“Success is not final, failure is not fatal: it is the courage to continue that counts.”
With the dawn of 2013, Jim Arens shares his thoughts on what the upcoming year may hold for the investment community and more importantly, for you.
In the December 2012 issue of Tulsa People
Cameron Turner’s article poses three questions to help you determine if you are a rational investor.
Joanna Murphy describes the impact of these changes as they relate to investments and estate planning.
With the presidential election only a month away, the “fiscal cliff” looming at the end of this year, and the potential for significant increases in taxes beginning next year, investors are focusing on what might happen and what they should do about it.
Two popular yet contradictory mindsets in modern culture say that you should love what you do and that you should strive to stop doing it as early as possible.
Jamie O’Shields writes about unfunded living trusts and the dangers of staying in the hot seat.
Jennifer May discusses a topic we all hope to never experience but need to be made aware of. Elder exploitation is no joke. Learn how to arm yourself and your loved ones.
Karen Ellis provides important guidance on when to withdraw funds from your IRA. While withdrawal may seem like an easy task, you may find yourself paying more in taxes than necessary.