Trusts articles

Whittney Stauffer Joins Friends of Finance Board of Directors

Whittney Stauffer

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.

Trust Company of Oklahoma Promotes Jim Arens to Chief Executive Officer, Michael Hopper to Chief Operating Officer

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 Arens

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 Hopper

Michael Hopper

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 World: TCO Promotes Mock, Gallus, and Ghosn. Hires Priebe, Jimenez.

From Tulsa World

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.

NICK GALLUS

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.

BRI GHOSN

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

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

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.

Protecting Your Loved Ones

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.

The Price of Greatness – Dispatches From Route 66

Philip Mock reviews TV series about Michael Jordan.

Who Will Make Health Care Decisions When You Can’t?

Key documents to ensure your health care decisions will be followed.

Returning Stimulus Payments Made to Deceased Individuals

Have you received a stimulus payment made to your deceased spouse? Here is how to return it.

Adoption and Estate Planning

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.

Subzero Oil Prices and the Storage Problem

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?

What Will Your “New Normal” Look Like?

How will the COVID-19 social distancing affect your life going forward? Read.

July 2020 Investment Perspectives

Outlast The Storm

You can’t control the stock markets nor stop COVID-19. Managing investments in the midst of the pandemic.

Tax Day Delayed To July 15

As COVID-19 grips the nation, the IRS delayed the deadline to file and pay federal income taxes. Read more.

Our Response To COVID-19

Our offices are open and our services continue uninterrupted. Read more.

Don’t Let Fear Paralyze You

In times of uncertainty with stock market and health concerns, it is easy to let fear paralyze us. Read Lesa Creveling’s article.

Why Have TCO Serve as Your Corporate Trustee

Although you may ask a relative or a friend to be your trustee, a corporate trustee can be a wiser choice. Learn more.

Guardianship Checklist

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.

Planning for Addict Beneficiaries

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.

SECURE Act Significantly Impacts Your Retirement Planning

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.

Doing the Limbo

Our Chief Investment Officer looks back at 2019. Stock returns were very strong, but the bond market forced investors to play the limbo game.

January 2020 Investment Perspectives

New Year’s Resolution: Revisit Your Estate Plan

Now that the holidays are officially behind us, many of you are revisiting that final vestige of the season: the resolution list.

Be a Responsible Property Owner: Properly Store Your Documents

While record-keeping can be a tedious task, it’s essential to being a responsible property owner.

Graduating From the Kids’ Table

While dividing attendees into two tables works well for a packed house during the holidays, don’t apply this philosophy to estate planning.

Chill Before Serving to Avoid Family Litigation

Litigation can be destructive to families, both financially and emotionally. Learn how families can avoid the courts to settle their differences.

October 2019 Investment Perspectives

Bob McCormick Hits the Open Road

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.

Where There’s a Will…

What do Aretha Franklin, President Abraham Lincoln and Prince have in common? Find out.

How to Talk To Your Heirs About Your Estate Plan Without Ruining Your Relationship With Them

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?

What Does Your Family Look Like?

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.

IRA: Why, When & How Often?

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.

The Fiduciary Rule: What It Means For You

We have served our clients with a fiduciary duty since our founding in 1981.

Alzheimer’s And Dementia Patients Are Easy Prey For Scammers

Avoid being a victim of financial exploitation.

July 2019 Investment Perspectives

Row, Row, Row Your Boat

Are you, your family members and professional advisors rowing in the same direction when it comes to your estate plan?

Collecting Spousal Social Security Benefits

Social Security benefits are an important component to retirement planning. Here’s what you need to know about receiving Social Security on your spouse.

Staying on The Yellow Brick Road

Financial exploitation and elder abuse continue to rise. How can you protect yourself and your lifetime savings? Read Lesa’s article.

Beyond Our Borders: Why You Should Be Investing in International Markets

It is important to invest in international stocks. Here’s why.

DPOA: A Document With Super Powers

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.

April 2019 Investment Perspectives

Playing Hoops With the IRS

Are you a small business owner or investor? Please meet Qualified Business Income (QBI) deduction.

Happy Birthday, Batman!

Batman, the first comic strip trust fund baby, turns 80 today. What lessons can we draw from the Dark Knight?

“Drill, Baby, Drill”

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’s Not Too Late To Build A Fence When The Cows Are Out

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.

Tariffs And Raisins – Children Pick Up On The Darndest Things

The Certainty of Taxes in Retirement

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.

Let’s Get Personal

Ensuring future generations respect your values, intentions and hard-earned savings.

Overcoming The Emotion of Family Properties

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.

Establishing Trust, Step-By-Step

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.

Taxes & Scams, Ham & Eggs

Tax season is unnerving enough without scammers preying on you. In this article, Bob shares the latest scam to be wary of.

HEMS To Live By

Joanna Murphy reviews how important language and communication are when it comes to estate planning.

All Eyes On The Fed

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.

Don’t Let Your Digital Assets Evaporate Into the Cloud

In this article, Melissa Taylor sheds light on a subject that has never crossed the minds of many, Digital Assets & Estate Planning.

A Legacy of Wealth and Purpose

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.

Tough Love

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.

Can Stocks Stay “In The Zone”?

With a strong first quarter for stocks, Cameron Turner explains the reasons and offers his thoughts as to what the future might bring.

It’s All About Medicare

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.

So You Think You’re Rational?

Cameron Turner’s article poses three questions to help you determine if you are a rational investor.

Avoiding A Fall Off The Fiscal Cliff

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.

The Retirement Myth

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.

The Sword of Damocles: Funding the Living Trust

Jamie O’Shields writes about unfunded living trusts and the dangers of staying in the hot seat.

Preventing Exploitation of Elders

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.

Family Wealth Preservation Trust

Protecting your assets from creditors may not be the first thing you think about when you wake up but all too often, people do not think about it at all until it is too late. Fortunately, in Oklahoma we have an attractive asset protection vehicle called the Oklahoma Family Wealth Preservation Trust (FWPT) that can help Oklahoma residents and non-residents alike. Read Lesa Creveling’s article.

The Road to Trustee Hell is Paved with Good Intentions

Joanna Murphy discusses the challenges individuals face when serving as a trustee or as an executor of an estate. Being a fiduciary carries a tremendous amount of responsibility ranging from detailed record keeping to bill paying, from tax returns to investments. But don’t despair – Joanna also shares how having a corporate trustee such as Trust Company of Oklahoma can help ease the burden when filling this role, especially for friends and family.

Prosperity with a Purpose

Is there a purpose for your prosperity? In other words, what are you trying to accomplish with your wealth?

Planning & Caring for Children with Special Needs

Parents of children with disabilities are often faced with the challenge of providing a level of care most families never experience.

What About My Retirement?

When I retire, I plan to travel to exotic places, spoil the grandkids I hope to have someday and spend lots of time on the beach. I know these dreams won’t come true without some wise decisions on my part–many of which have to do with my retirement plan.