SponsoredBath Savings Trust Company

Bath Savings Trust Company president Tom Whelan got his first job in the banking industry right after graduating from Colby College and has worked in his current role leading the local investment company for two decades. “Helping families, businesses, and nonprofits succeed financially is very attractive to me,” Whelan says. “We have a great team here, and everyone is focused on the well-being of our clients.”

What constitutes a well- rounded investment portfolio?

The number one component to any well-constructed portfolio is asset allocation. Do you want to create a portfolio that is more structured around retention of principal or around growth of principal? Not everyone has the same needs, appetite for risk, or time horizon, so every portfolio should be tailored specifically to the needs of the client. If someone comes to us and they know they’re going to be building a house in two years, we’re going to take a different approach than we would with someone who is retiring and rolling their 401(k) to us.

What do you say to clients who express that financial planning “isn’t their thing”?

Financial planning can be such a daunting topic for people. One of the greatest joys I get out of my job is when someone says, “No one’s ever explained it to me that way. I finally understand it.” Oftentimes, we get people who come in who just want us to take over their investing, and may not want to have any active involvement. We will certainly take good care of them, but even if they don’t want to be involved with the details, we do our best to educate them and make sure they understand what the plan is so they can feel good about it.

What are the advantages of working with a local financial planner?

One advantage is accessibility. We don’t have an 800 number with a phone tree. At Bath Savings, you’re able to come in and meet with us as often as you like. We form deep and genuine relationships with our clients. We want them to succeed because we care.

How does investing with a local company in turn help the local economy?

It’s easy to understand that if you deposit your money into a local bank like Bath Savings, that bank can then lend that money to your neighbor who is building a house or to a small business you frequent. From an investment perspective, having a healthy and profitable local investment firm is also important. Socially responsible investing is a hot topic in our industry right now, and I believe that starts with who you choose to work with. If you work with a local firm that is making smart finan- cial decisions for you and your family and is also committed to making your community vibrant and healthy, that’s the real start of socially responsible investing.

To discover what a solid financial relationship and sound investment strategy can do for you, visit bathsavings.bank/investments. 105 Front St., Bath. 207-443-6296.

DISCLAIMER: Bath Savings Trust Company is a wholly-owned subsidiary of Bath Savings Institution. Investment products are not insured by the FDIC, are not deposits or obligations of the Bank, and are not guaranteed by the Bank. Investment products are subject to investment risk, including the possible loss of principal. Past performance is not an indication of future results.