Going the Extra Mile

Revolutionizing Wealth Management for First-Generation Creators of Wealth

In the world of financial management, Aaron R. Parthemer stands out as a visionary leader and President of "PMG Private CFO Services." With a mission to bring Fortune 500-caliber financial solutions to individual high-net-worth clients, Parthemer and his team have redefined wealth management for those who are the first in their families to experience wealth. Through a comprehensive Family Office Structure, PMG provides seamless fiscal management systems that empower clients to leave a lasting legacy and make a positive impact on the world.

Parthemer's journey began with a deep understanding of the disparity between resources available to large corporations and those available to individual clients. Recognizing this stark difference, he assembled a team of experts who serve as Private CFOs for each client. Together they spent years studying the two most inefficient models that dominated the competition. One end of the spectrum was one-person local firms that were cheap but also lacked expertise outside their home city or state. The second type was a “Big 3” accounting firm that has all of the resources in the world butmay not be well-suited to take on smaller, one-off clients. PMG has created a system that offers the big firm characteristics with some of the smartest individuals in accounting today while billing it in a way that keeps the costs much more reasonable.

Today’s financial world is more unpredictable and uncertain than ever in the country’s history. This is especially true for Professional Athletes and entertainers, whose careers and retirements are the polar opposite of those of traditional employees. While they can earn substantial sums of money quickly, they not only pay exorbitant taxes at the county, local, state, federal, and sometimes even international levels but are also compelled to manage their lives with whatever remains for the next 50 years or more, at a bare minimum. Additionally, they must account for hefty expenses like agents' fees and managers' fees.

The advice that PMG can provide is centered around ensuring theyare only paying required tax obligations and expanding to every aspect of a client’s financial life. “Upon hiring us, you will have your own family office structure in place to maximize your after-tax income, help you to understand potential investments, track your cash flow, coordinate your financial plan, and help you to take corrective actions in real-time so that you will have the greatest chance possible to avoid as many mistakes as possible,” explains Aaron. “A Private CFO allows you to manage your personal life like a multi-billion-dollar corporation and can be a huge part of your financial success.” For example, the modern professional athlete and aspiring has the earnings power of a corporation and can often be more complex. While it is true that 85% or more can end up bankrupt within five years, what is grossly misunderstood is why it happens and what steps can be taken to reduce their risk of becoming a statistic. It is vital that PMG clients can grasp the concept of living off a small percentage of their gross income, adhere to a consistent budget, and then hire PMG as their Private CFO. This will give them a great chance of beating those odds.

PMG’s intended market includes professional athletes, entertainers, musicians, and entrepreneurs with the same common goal. Although accustomed to winning, these individuals often lack the experience of managing newfound wealth. “Our client retention, client satisfaction, referrals, and team expansion is a great way to keep track of how our business is doing,” says Aaron. “The fact that we are in the financial business means that we understand profitability and what success looks like on a balance sheet and profit and loss statement, something that is very important for every business.”

PMG measures its success by teaching clients how to make responsible choices, ensuring they are provided with the tools and information to make critical decisions in real time, and keeping them in compliance with all federal and state regulations.

We track our success through a range of key performance indicators, including client satisfaction scores, adherence to financial plans, and the achievement of financial and personal goals.

Our clients embrace a success-oriented mindset and we're all about empowering them therefore our goal in educating them in a more holistic way is to let them know that by achieving a history of success and winning it's okay as long as they also recognize that it's acceptable to experience failure or losses along the way. Our educational approach underscores the importance of acknowledging that while a track record of achievements and victories is commendable, it is equally important to accept that occasional setbacks and losses can serve as invaluable sources of knowledge and insight. In essence, our clients maintain a winning mentality while also demonstrating resilience in the face of challenges, perceiving them as catalysts for personal and financial growth.