When retired Navy Capt. Thomas B. Denegre Jr. created the Northern Neck’s first-ever trust company at Chesapeake National Bank in 1973, he launched a legacy of community-minded commitment that has defined Chesapeake Wealth Management for half a century.
From its humble beginnings 50 years ago, Chesapeake Wealth Management (CWM) has evolved into a thriving, holistic wealth management company alongside its corporate sister, Chesapeake Bank. CWM’s dedicated team of experienced wealth advisors, portfolio managers and trust officers provide premier investment and trust services to clients across Virginia and the United States.
Currently, Chesapeake Wealth Management has a portfolio of over 400 client relationships with individuals, families, companies and nonprofit organizations. Its main offices are in the Northern Neck, Greater Williamsburg, the Middle Peninsula and Richmond, with a new office coming soon in Newport News.
Chesapeake Wealth Management’s team embraces a sophisticated, concierge-style approach to growing and protecting the assets entrusted to them. “All of our portfolio management, investment and trust services are completely in-house, which distinguishes us from other wealth management firms in the area,” said President John Sadler. “We never outsource the management of investments or trustee duties. Not only can we help grow and protect assets with no hand-offs, but we can also help pass down and manage clients’ legacies for their loved ones. That is one reason why we enjoy a lot of multigenerational relationships in the communities we serve.”
Sadler proudly noted that the CWM team’s credentials are second to none among its local competitors. The team includes top industry designations such as a Chartered Financial Analyst® (CFA®), Certified Trust and Fiduciary Advisor (CTFA), and Certified Wealth Advisor (CWS®), as well as Chris Sikes, CFP® certificant, Felicia Stovall, CFP® certificant, and a trust and estates attorney with over 30 years of experience. Chris Sikes is a Certified Financial Planner (CFP®), and Felicia Stovall, another CFP®, is a trust and estates attorney with over 30 years of experience, Sadler shared.“We can do everything that big nationally known companies can do, but with a local touch and proven track record of serving our communities,” he said.
Clients receive exceptional personal service from Chesapeake Wealth Management. “We listen intently to their individual situations so we can provide a customized solution to help them reach their financial goals,” said Jean Light, Senior Wealth Management Advisor and Senior Vice President, who joined the trust department in 1981. “Our approach is not cookie-cutter at all. It’s very disciplined, prudent and uniquely tailored for each client.”
Sadler said one of the most rewarding aspects of helping clients is protecting their legacies from what he calls “creditors and predators.” Even when adults are the main inheritors, Sadler explained, problems can arise with creditor issues, divorce lawsuits, expensive habits and poor money management. “Most clients do not want to see what they have spent a lifetime accumulating squandered quickly to creditors and predators.”
Chesapeake Wealth Management works closely with clients not only on their monetary assets but also on their intangible assets, such as their ethics, morals, and philanthropic interests, to ensure those values live on after them. “We like to say we are in the business of ‘peace of mind grown locally,’” Sadler said.
As one example of how CWM’s services help it give back to the community, the company manages the Cole Charitable Trust, which has contributed to nearly 40 local nonprofits in the Northern Neck area. These annual contributions provide vital funds to sustain essential community service agencies. “Chesapeake Wealth Management supports our communities through our services, by action as opposed to words and through countless volunteer hours. It is extremely rewarding to see the direct impact our efforts have on our communities,” Light said.
As Chesapeake Wealth Management looks toward the next 50 years, the company anticipates a bright future with plans to elevate its profile for new clients in Virginia. But despite the changes that are bound to occur as the company grows and the financial industry evolves, Chesapeake Wealth Management’s passion for investing in communities will remain constant.
“Despite our continued growth, we have remained true to our roots,” Sadler concluded. “We are part of an institution with a 123-year-old tradition of helping our clients and our communities thrive. Chesapeake Wealth Management has had the same mindset for 50 years and counting. We look forward to the next half-century and beyond!”
To learn more about Chesapeake Wealth Management, visit chesapeakewealth.com or call us at 888-653-9088.