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A LETTER FROM OUR FOUNDER
by Ted Beringer
Thirty plus years ago we started our predecessor company (Mid Atlantic Financial Group) with the single mission of providing superior planning services to privately held companies. By 1983 we had become the premier provider in helping owners make the decision to keep their company and effectively transfer to it to the next generation, or realize liquidity from years
of building a business. Because we were independent and completely objective we achieved national success and recognition. If we were not the only firm providing a "keep/sell" approach, we were certainly one of the few.
Our national reputation led us to clients in over forty states and businesses across multiple sectors. From the beginning we prided ourselves on not being industry specific. Hundreds of our clients have successfully transferred their businesses to their children or management team with minimal taxes and transaction fees. We have also helped the sale of
over two hundred closely held companies to outside third parties.
As most of you know, we successfully followed our own advice and sold Mid Atlantic Financial Group in December 1998. Taking our own advice, we initiated a strong transition process. After the sale we built out our own family office, and we now use it to invest in private equity, real estate and publicly traded securities. In 2001, under the name "The Beringer
Group," we decided to continue offering our consulting services to a select group of business owners and high net worth families, guiding them down paths we have followed ourselves.
A core number of our senior executives are part of the family office structure. Again, taking our own advice, we have structured the transition process so that Chris Beringer has succeeded to president of the company. The result is an independent family office which provides services for ourselves and other families.
Because we do this for ourselves we are aligned directly with everyone we work with. We continue to be independent and able to offer assistance in multiple areas in a fast, efficient and effective manner. We look forward to the next generation continuing this vision.
When we first embarked on this journey over thirty years ago there was no talk of social networking websites, texts, tweets, or some of the other trendy communication technology that has sprouted up over the last few years. We are excited to forge new paths and take advantage of new technology and new ways of disseminating information. But most importantly, we are
committed to keeping the very select group of people we work with informed of the unique issues that impact their lives, in a way they can trust and understand.
We hope our newsletter will keep you connected to our world, and direct your attention to ideas you might not find in other places. In this first issue we are taking a look at some unique conditions in the current tax and business environment that are of particular relevance to the people we serve. I hope you enjoy reading it.
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