Forman Investment Services Celebrates 20 Years
Jim and Troy Forman started Forman Investment Services in 1999 in Columbus, Indiana, with a focus on Investment Management. They partnered with Raymond James Financial Services on day one — bringing a small, regional feel to the business and allowing Forman Investment Services to work with clients how they prefer. For the first three months, Jim and Troy didn’t take an income, and worked diligently, transferring clients into the practice. The market experienced its first bear market the following year. While many left the industry, they endured, grew, and gained unbelievable perspective. In 2008, the market experienced its second bear market, and once again they endured.
In 2012, they made the decision to migrate from a lifestyle practice to a professional practice, realizing the significant investment of both time and money that would require. They chose to focus on financial planning and building a practice that was there to work with clients for their lifetime, not just their career. At the time they had three team members — Jim Forman, Troy Forman, and Ann Bradley, Client Services Specialist and Office Manager, RJFS.
Their first hire was a CFA who is the in-house investment manager. David Abuaf, CFA, MBA, Investment Manager, RJFS, has the responsibility of constructing and managing discretionary risk-based portfolios. From their expertise, it is the management of risks, not returns, that can keep clients happy.
Troy’s wife, Cindy Forman, Event and Marketing Coordinator, joined the firm the following year. She is also the utility infielder and is uber-organized and is great at completing projects.
In 2016, following the doubling of their office space, Forman Investment Services worked toward expanding their market from Columbus, Indiana to Indianapolis, Cincinnati, and Louisville. Their first move was into Indianapolis. Because of that, they added an existing branch that aligned with Raymond James in Noblesville, Indiana. Brian Reeves, CFP®, Wealth Manager, RJFS, is a full-time advisor and has two part-time assistants.
Forman views their practice like Noah’s Ark — they can only fit so many clients on the boat. While building their team, systems, and infrastructure, the client base and assets under management were growing rapidly. As Forman Investment Services grew, the boat filled, and they were left with two options: start throwing some of the clients off, or make the boat bigger. They decided to make the boat bigger.
In March of 2018, they added Morgan Windscheffel, Client Service Specialist and Office Assistant, a younger, next-generation team member in the Columbus branch.
2019 marks the 20th anniversary of Forman Investment Services. The firm has grown substantially over the last 20 years, and plans to keep going. Join Jim, Troy, and the entire team in celebrating their 20th year throughout 2019. Stay tuned for announcements of upcoming events and celebrations, to happen throughout the year.