Opportunity Meets Preparation

Kim Benson of CCMI

By Kevin Adler

What others may have deemed disruption, Kim Benson, CFP^®, CPA, CeFT^®, saw as an opportunity, setting the stage for her financial planning journey. Originally from Maine and with a background in accounting and finance, she started her career at one of the “Big Four” accounting firms and became a CPA. Shortly thereafter, she pursued a career in finance at Goodrich, which was later absorbed by United Technologies, and RTX (Raytheon Technologies), Kim understands change. Her ability to adapt has been her asset and catalyst for growth, guiding her to her current role as an owner and principal at CCMI, based in San Diego.

The story begins much earlier. After several successful years doing corporate financial planning and analysis, which included a two-year expat stint in France, Kim craved a more hands-on approach and a chance to directly affect people’s lives. “My job became less fulfilling; I had a real desire to help people and needed more balance,” she says. As she considered a move, a close friend recommended financial planning as a way for Kim to continue using her finance skills and highlight her passion for helping others.

“I knew taking the CFP^® exam would be challenging, and I didn’t know how to get hired but it was a risk I was willing to take,” she reflects.

Her leap of faith led to an introduction to Brian Matter, a principal and owner at CCMI. While the firm wasn't actively hiring, the meeting with the owners at the time, Peg and Bob Eddy, changed her career and life trajectory. “It was an opportunity I never could have planned,” she says. “Rather than attempting a path into a solo practice, I wanted to be part of a collaborative firm, and CCMI felt like the right fit for me.” Soon after that meeting in 2015, Kim took a sizeable pay cut to pursue this new career with her husband’s support, for which she is forever grateful.  She accepted an offer to provide client and advisor support at the firm, mostly within the financial planning process while she studied for her CFP^® exam.

An Objective Insider

Familiar with the RTX benefit plans, Kim began proactively sharing videos with her LinkedIn network and developing blog content to provide deadline reminders and point out often overlooked features many employees missed. “Knowing firsthand how busy people tend to be at the company, I found a lot of employees didn’t have the time to really dig in and understand their retirement and stock-related benefits.” Realizing that this could lead to costly mistakes or missed opportunities, Kim further shifted her focus to helping RTX employees. She not only analyzes the financial feasibility of pursuing strategies like the mega back-door Roth, and how it aligns with their goals and overall financial picture, but she also guides them through the successful execution from beginning to end, as one example. “Clients are grateful for my support, especially when I take the extra step of calling the benefits center together to roll over a 401(k) or looking over their shoulder on Zoom as they complete the final step in a mega back-door Roth conversion, to ensure it is done correctly.  These can be nerve-wracking situations if you are not familiar with how to do them and can lead to punitive irrevocable tax consequences if you are not careful.”

Kim’s network began to take notice as she delved deeper into financial planning and became a CERTIFIED FINANCIAL PLANNER™️ professional. “My 12-year career at the company and background in finance gave me visibility with executive leadership and departments across the business and even other facilities,” she says. When she began advising executives, her confidence grew and more referrals locally and from different parts of the country came her way. “I think people felt vulnerable and appreciated an impartial resource to turn to,” she says. “They felt safe asking questions without fear of judgment.”

Implementing processes in their CRM system, Kim continues to ensure timely check-ins with RTX clients and prospects, guiding and supporting them through critical decision points and quickly earning the trust of her former RTX network.

An Unexpected Niche

What was originally happenstance became her unique expertise. “I didn’t set out on this path intending for this to be my niche, but it occurred organically,” she says. Now, as CCMI’s resident RTX expert, she regularly helps former colleagues and has developed tailored systems within the firm, ultimately bringing more financial planning and investment management clients to the firm. “We don’t have to reinvent the wheel. We already know the language,” she says. “By leveraging our existing knowledge and designing targeted tools, we’ve streamlined the process to facilitate guidance and generate cost-effective plans for RTX employees.” Just five years after becoming a CFP^® professional, Kim was named a principal and owner in 2022.

A Shift to Serve Young Professionals

Founded in the 1970s, CCMI has a large subset of clients nearing or in retirement. During the pandemic, clients questioned their financial security. “More people realized they didn’t have their financial ducks in a row. It forced them to confront their financial readiness,” she says, discussing the tough conversations she had with clients experiencing setbacks.

A new trend also emerged with the pandemic: a surge in younger clients seeking financial planning assistance. “We noticed a shift, with more younger clients recognizing the importance of proactive planning to get on the right path before it’s too late.”

Leveraging CCMI’s standalone planning service, the firm took the opportunity to help and build relationships with wealth-building, high-potential clients, strategically positioning itself to serve a diverse clientele across life stages. “It’s about meeting people where they are,” she says. “Our relatively younger team is well-equipped to serve a spectrum of clients—wealthy, near-retirement executives and those still in the accumulation phase—across their lifetimes.”

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Beyond the Numbers With an increased focus on the personal side of planning, Kim pursued additional training to become a Certified Financial Transitionist®. This certification helps her guide clients through significant life events and changes, such as the death of a loved one, career changes, and retirement, with compassion and insight. “Being successful in this profession isn’t just about being competent; it’s about continuously honing our skills, leveraging the talents of others on the team, and adapting to meet the evolving needs of our clients,” she says. “It has been a game changer in taking my ability to make a real difference in people’s lives to the next level.” Beyond the numbers, Kim helps clients, including those approaching retirement, prepare for life-changing shifts. “We’re not just planning for financial security,” she notes. “We’re guiding clients through the emotional and psychological adjustments that come with leaving behind a career or redefining one’s identity, and eventually their new norm, in retirement.” Kim enjoys coming to work every day and has tremendous gratitude for the opportunities provided by her business partners and the support of the CCMI team, who are like family to her.  For Kim, her career trajectory, which also includes diverse community involvement, is an outcome of her passion and commitment to client-centric values. “Ultimately, it’s about enjoying what you do,” she says. “I’m thankful to not only be an advisor and help people but also to build genuine connections and support them through inevitable life changes.”

 

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CCMI, at a Glance

Location: San Diego, CA

Website: myccmi.com

Year founded: 1975

Number of staff: 10 

Typical clients and their needs: CCMI serves business owners and executives (and their families), as well as those going through life’s transitions.  We guide our clients in the areas of financial planning and wealth management to help them achieve and maintain financial independence.

Investment strategy and methods: CCMI creates broadly diversified, tax-efficient global investments portfolios using a mix of ETFs, mutual funds and select individual bonds.  By keeping a long-term view of markets and implementing a disciplined quarterly rebalancing process, the goal is to general risk-adjusted returns that meet clients needs over full market cycles.

Favorite financial planning apps and websites: Holistiplan, eMoney, XLR8, SalesForce, Social Security Analyzer, Kitces.com, NerdWallet, IRS

Advice to other advisors: Promoting work-life balance for your team sets a model for work-life balance for your clients.