Tompkins Financial Advisors grows through relationships

ITHACA, N.Y. — It’s been a tricky time for wealth management since the global COVID pandemic, but Tompkins Financial Advisors, the wealth-management firm of Tompkins Financial Corp., isn’t slowing down.

“This is where the rubber meets the road,” says Jennifer Green, senior VP and managing director of Tompkins Financial Advisors’ Central New York region. “We’ve certainly experienced volatile markets the past several years.” That makes it more important than ever for advisors at Tompkins to reach out and connect with their clients, she adds, and it’s something the company has been focused on of late. Forging those types of connections and relationships with clients is the hallmark of what sets Tompkins apart from competitors, Green contends, and she believes it is a big reason the firm is adding new clients all the time. “Probably 40 percent of our new assets under management revenue is coming from existing client referrals,” she says. That includes an increase in generational planning, planning with multiple generations of the same family, which has seen a significant uptick over the past year and a half. Another 20 percent to 30 percent comes from referrals from strategic partners such as estate-planning attorneys or accountants, Green says. Those referrals really drive home the trust that developing relationships brings, she notes. A number of advisors have been with Tompkins for 10-15 years, or even longer, allowing them time to really cultivate those relationships. One of Tompkins Financial Advisors’ newest advisors may be new to the wealth-management side of the business but isn’t new to the company.

At the beginning of this year, Thomas Cannon left his position as branch manager of the plaza branch of Tompkins Community Bank, the banking subsidiary of Tompkins Financial Corp. (NYSE: TMP). Cannon started his career at Tompkins as a teller right out of college in 2018 and quickly advanced through multiple positions at the bank. In all those roles, Cannon says he enjoyed being able to get to know and build relationships with clients. “It really felt like the next step in serving my clients,” he says of his transition to wealth advisor. He was inspired in no small part by another Tompkins wealth advisor, William Murphy. “I’ve been getting lunch with him ever since I was a teller,” Cannon recalls. He has always admired the relationships Murphy built with his clients and aspired to do the same. “Trust is the foundation for any successful relationship,” he says, adding that people need to be comfortable with the person that is helping them plan their future and know that person is looking out for their best interests. “We’re talking about people being able to retire on their timeline,” and leave a legacy for their family, friends, and charity, he says. Cannon holds a bachelor’s degree in pre-counseling from Moody Bible Institute and will receive his MBA with a concentration in finance from Post University this August. After that, he will start the 12-month to 18-month process of earning his certified financial planner (CFP) designation. In his new role, Cannon also administers the Tompkins Charitable Gift Fund, an experience he has found rewarding. The fund provides financial awards to nonprofits in the community through both donor-advised funds and the Director’s Philanthropy Fund. Enabling Cannon to really dive into his new role is knowing that his prior position at the plaza branch is in capable hands. Michelle Harlan, who served as an assistant branch manager and has 16 years of banking and financial experience, has filled the role. Tompkins Financial Advisors currently employs between 20 and 25 advisors, and “we’re always growing,” Green says. The firm has between $4.5 billion and $5 billion in assets under management. It provides an array of wealth management and trust services with offices in Ithaca, Syracuse, Rochester, Buffalo, Mount Kisco in New York; and Wyomissing and Blue Bell in Pennsylvania.