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Zephyrus Financial Services: Past, Present, & Future

Zephyrus Financial Services: Past, Present, & Future

January 17, 2023
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In mid-December, we packed up and headed to our new office space in Hutchinson, MN! Our latest headquarters is a far cry from the old Hardee’s that it used to be. As we transition into our next space, we want to look back at the history of Zephyrus Financial Services, highlight the work we’re presently doing with clients and look to the future!

 

Past

Our company began in February of 1998 under the name PHB Financial Management, Co. co-founded by Chad Piehl, current CEO Tim Piehl’s father, and fellow CPAs who were ready to make a radical change to the financial planning industry. Instead of selling stocks, they wanted to focus on financial planning first, investment second. The company differentiated itself by buying mutual funds for asset allocation models and then exchanged within the fund families to save clients’ money as well as provide tax management. When the company first started, the mission was to “Make Dreams Come True.” Through establishing original core values, Clients First, We Dream Big, Have Fun, We Are a Team, We Are Experts and Give Back, the team at PHB Financial Management was able to build client relationships and expand their business.

 

In 2013, Tim Piehl joined the PHB team after spending the first part of his career in the banking industry. Shortly after, Tim and Chad attended a meeting in Sioux Falls, SD, and decided at that meeting to change the business model. The previous model was focused around buying into certain fund families and then using exchanges to change investments within the same fund family, acting as a broker. Under the new model, we were able to act as fiduciaries, buy institutional-only investments, buy and sell between different investments, use discretion and leverage technology for trading purposes.

 

After, Tim took over the business from Chad and hired Amanda Schueler, a long-time friend, to help invigorate the company and assist in changing business models in 2014 after enough research and due diligence was conducted. A few years into Tim’s leadership, the company made the change from PHB Financial Management to Zephyrus Financial Services. It was a pivotal move to separate the confusion of ownership between the CPA firm landlord and our business.

 

Present

Under the new name of Zephyrus Financial Services, we’ve been able to make great strides in growing and evolving our business. While we serve those locally in Hutchinson and across Minnesota, in 2020, Zephyrus Financial Services and Home State Bank entered into a unique partnership. Our advisors visit Home State Bank locations in Hutchinson, Willmar, Litchfield and Cosmos and provide financial services to their customers.

 

In 2022, Zephyrus Financial Services was approved to provide third-party investment management for other brokers. This portion of our business is continuing to grow exponentially. Most recently, after 24 years of sharing space with a CPA firm, we moved into our own space, which allows us the physical space we need to better serve our clients.

 

To this day, Zephyrus Financial Services still operates under the model of “planning first, investment second.” Although the investment world has changed with the advent of even more complex investment vehicles and research, we still use asset allocation models, but they are more complex and utilize more than just mutual funds. As fiduciaries, we act under a fee-based model instead of a commission-based model that was used in the past. We are still an independently owned financial planning and investment management firm. We conduct our own due diligence, our own research and use our own investment models. We also act as a third-party, managing investments for brokers outside our own firm.

 

Future

As we look ahead to the future, our new space gives us plenty of room to add more advisors, provide additional services and continue to increase our third-party management services. We will continue to engage with future clients, deliver exceptional customized financial roadmaps, strengthen relationships with current clients and continue providing learning opportunities for our advisors. We plan to continue increasing and incorporating the latest technology and research capabilities to help us reach our ultimate goal of helping clients achieve their dream retirement.

 

Our goal from day one has been to help people’s dreams come true. While our office space is new, the reliable, well-educated and welcoming team at Zephyrus Financial Services will remain the same. To check out our new space or start your retirement planning journey, schedule an appointment with us today. And to stay up to date on the latest financial news, follow us on Facebook and LinkedIn.