NEED TO KNOW
MARCH 13, 2020 | VOL. 10 | ISSUE 6
INVESTINET PROVES Business DOESNâ€™T have to be
Pictured: Bob Collins (L) and Brice Smith (R), owners, Investinet | photo by BONFIRE VISUALS
THE FINANCE ISSUE March 13, 2020 | upstatebusinessjournal.com
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THE OPENING BELL IN THIS ISSUE
Crawford Strategy hits a milestone as it
celebrates its first decade
How has the coronavirus impacted manufacturing in the Upstate?
4 13 15 18
Investing in the Upstate Jeff Herman Hiring the right person Jim Sobeck Navigating social media Sara Dolan Balancing business & retirement Brett Smith
THE BIG NUMBERS
Investinet focuses on company culture and proves that business doesnâ€™t have to be boring.
photo by BONFIRE VISUALS
in assets for GrandSouth Bank. Read more about GrandSouth Bank on Page 9
estimated tons of recyclables disposed of by South Carolina in fiscal year 2018. Page 26
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March 13, 2020 | upstatebusinessjournal.com
The Upstate is about to boom. Is now the time to invest in it?
ove where you live? Maybe now is the time to invest in its future growth. The Upstate is expected to hit about 1.75 million residents by 2040, an increase of about 400,000 from where it is now. Of that, an estimated 220,000 will be in Greenville County alone. While there are myriad questions of where they are going to live and how they are going to get around, they also provide myriad investing opportunities. Investment properties can largely be broken down into two categories: residential and commercial, with pros and cons for each. In the residential world, HGTV has shown many people that, yes, you can buy an old house, fix it up and sell for a profit, but it’s not guaranteed. The old
4 UBJ | March 13, 2020
adage “do your homework” has never been more important. Is the fixer-upper in a good neighborhood? Do you have enough profit margin built into the project for purchase, repair and the unexpected expenses or delays that always happen? There really is a formula, but you must work the numbers backward. What is your expected sales price – minus your cost of repairs/the amount of time it takes to repair and get to market? Another option is the rental-house route in which you collect enough money from tenants to make the loan payment, while you wait for property prices to appreciate. Many times, this works just as planned, but you should anticipate those possible latenight calls from tenants whose
homes need repairs. Obviously, the newer the home, the fewer repair calls one would expect. One strategy I have seen work is to purchase one of the first homes in a new neighborhood. The thinking is that developers may be willing to allow more customization in order to get sales started. Additionally, many developers increase the price based on the number of homes sold, so getting in early can have a large benefit. Commercial properties come with some added advantages in that the tenant should be easier to work with. Just imagine having a large company, such as NAPA Auto Parts or Bojangles’, send you a check each month. In addition, you can negotiate a triple-net lease, where they will make all the repairs. The downside is you may
have to make some much bigger down payments. In addition, while Greenville has been relatively on the back end of the “retail apocalypse” of the past few years, national chains may not be your best option. If you do go commercial, look for uniquely local or destination stores that can survive the battle with online shopping. As an investor, remember that these are all long-term growth patterns. These are not overnight dollars. Greenville and the Upstate will continue to grow, but you have to be patient and smart when following these trends. Jeff Herman, a 25-year veteran of the financial services industry, is an equity partner with Wagner Wealth Management.
INVESTINET’S FOCUS ON
COMPANY C ULTURE PAYS OFF
n story by ALEX COOPER | photos by BONFIRE VISUALS
nvestinet sits in the Greenville neighborhood of Poe Mill. Located beside a highway bridge and in the middle of a complex of seemingly endless manufacturing buildings, you can pick out the 8-year-old company’s facility because of the massive mural painted on its side. The mural stands as a tribute to Investinet’s passion for its employees and its communities. With the help of Blank Canvas Mural Co., employees, their families and the community were invited to take part in a day of painting, food and fun. While providing a tour of the building, Brice Smith, the founder and co-owner, points out the green space that stands in contrast to the concrete and asphalt of the building’s surroundings. It’s to provide some greenery for the employees, he says. Investinet now employs around 80 people in its approximately 30,000-square-foot building. The company revolves around these 80 individuals.
A POSITIVE WORK CULTURE
The dress is casual, the dogs are present and the coffee comes out of a machine that allows for customizable options — it’s a dream job for most. Those perks also pale in comparison to the real treat. Investinet provides 50% profit share with its employees.
We want Investinet to be 100% employee owned. -Brice Smith, founder & co-owner, Investinet
Last year, that totaled $2.9 million. Needless to say, Smith and co-owner Bob Collins don’t really have to worry about employee retention. It’s not surprising when you hear both men discuss their company. Even from the beginning, Investinet was founded with
6 UBJ | March 13, 2020
the requirement of creating a positive work culture. In 2011, Smith quit his remote job with a law firm in New York. “I loved the work, but I hated the culture,” he says. Smith decided to launch his own business. Collins, whom Smith worked with about 20 years ago, was his first investor. “We spent as much time talking about what type of company we wanted to be as we talked about what business we wanted to do,” Collins remembers. The focus on creating a positive work environment for employees has paid off. While Collins says the industry average is about a 20% turnover rate, Investinet’s is in the single digits.
Investinet “is a full-service account receivables management firm” that runs a network of more than 40 law firms to ensure debt is paid, according to Collins. “Our unmatched investigation and legal enforcement network allows us to unlock the hidden value in our client’s inventories,” the firm’s site states. Companies have been impressed, Collins says, that Investinet has been able to bring in cash that they thought would be impossible to retrieve. “Some of our older clients gave us portfolios and said, ‘You’re not going to get anything from this’,” Collins says. “We gave back $2 million.” The success of the business comes from maintaining great institutional knowledge because of its low turnover, the owners explain. Transparency is also a huge part of creating the work culture. Once a month, the company has a floor meeting, Collins explains, during which its finances are laid out. “They know what’s driving us. They know what’s hurting us,” he says. “We believe that if people know about [the risks and opportunities] they can help solve some of these problems,” Smith adds.
COMMUNITY INVOLVEMENT, EMPLOYEE OWNERSHIP
Investinet barely has an online presence, and no Facebook or Twitter. There is a LinkedIn page that is updated when significant events happen. It’s on purpose. The business, Smith and Collins say, comes from the reputation of the business. And they want to keep it that way.
They still want to be known in their local community, however. The mural painting is only one example of this involvement. According to the company, it was able to contribute more than $230,000 to charitable organizations last year. Investinet matches employee donations to nonprofit organizations with a 501(c)3 status. Up to now, that means that Investinet has given $1.2 million.
Last year’s employee profit sharing totaled
Employees can also be part of the company’s humanitarian council. The group helps lead Investinet’s philanthropic endeavors. These efforts are just another way for Investinet to connect with employees. “Whatever our employees are interested in, we come alongside them,” Collins says. And the focus on employees isn’t changing anytime soon, the founders say. As the company grows and Smith and Collins continue to lead it, they know eventually there will be a ownership change. They’ve already ruled out giving the company to their kids or selling it to a competitor or to a hedge fund. They want to give it back to the people who made it what it is. “We’ve been investigating [employee stock-ownership plans],” Smith says. “At some point we want to sell the company to the employees. “We want Investinet to be 100% employee owned.”
Above: Dogs and cornhole and a paycheck? An employee’s dream. Left: Investinet employees enjoying the office fireplace.
March 13, 2020 | upstatebusinessjournal.com
Should I invest in cyber insurance? Upon a quick Google Search, you will find “cyber insurance” defined as protecting businesses and individuals from network-based risks and attacks. You would also find out that large insurance companies such as Progressive and Nationwide offer cybersecurity insurance policies. Why? No one can fully prevent data breaches, which is why cybersecurity insurance exists. And the cost of incident response is seldom budgeted for by any organization, so the cyber-insurance policy helps cover those costs to recapture and rebuild your data.
consider this... $92 MILLION:
the average cost of a data breach in 2019
the average cost of a data breach for a small to mid-size business Should my business invest in cyber insurance?
We get a lot of questions from customers concerning the value (or lack thereof) in cybersecurity insurance. Listed below are some of the questions we receive as well as thoughts and recommendations from Nathan Maederer, an account executive with Corsica Technologies, based on his personal industry experience.
Does my business need cyber insurance?
Simply put, yes. Cyber insurance can be very beneficial to companies that have not budgeted for the remediation of a cyber attack. According to Varonis, the average cost of a data breach in 2019 was $92 million. The average cost for a data breach for a small to mid-size business was $149,000.
Does cyber insurance cover data breach lawsuits and legal fees?
Yes, most cyber-insurance policies cover things such as legal fees and settlement costs as long as your company wasn’t negligent. Your cyber insurance will not cover losses indirectly caused by a data breach or cyber attack.
How can I make insurance worth the expense?
to validate the claim. Without log management, it is hard to verify any of this information. And without that snapshot, regardless of what you’ve been paying for insurance, the claim you deserve will not be paid. Log management can be expensive depending on your compliance needs and data retention required by the insurance provider. However, many managed IT service providers, like Corsica Technologies, offer this service as a value add. Any of our experts here at Corisca would be glad to help guide you on your IT journey. Contact Nathan today to learn more or schedule a risk assessment with the Corsica team: email@example.com.
Nathan Maederer is an account executive at Corsica Technologies. He has four years of combined experience selling technology into multiple verticals with a special focus in local government and manufacturing. He lived in his native city of Portland for 17 years, then later moved to Greenville, where he resides now. Nathan is a proud graduate of Clemson University in accounting and legal studies. He is married to Rosie Maederer, and they have a little boy, Tobias, who keeps them on their toes day in and day out. Nathan’s purpose is to find and cultivate new partnerships who are in need of IT leadership and next-generation cybersecurity.
The key piece to the puzzle to ensure full use of the insurance is log management. Log management, which has many platforms, is a tool that you can use to support your claim of a breach to your insurance provider. We’ve seen that most claims from a breach will not pay out if you do not have the information provided by this tool. The insurance companies want log management to see what happened before, during and after the breach
8 UBJ | March 13, 2020
In a shrinking market, GrandSouth Bank sticks to its strengths
Pictured: J.B. Schwiers
n story by VINCENT HARRIS | photo PROVIDED
Some people know exactly what kind of career they’re going to pursue from the time they’re children; others sort of stumble into it by chance. After a successful 40-year career in the banking industry, J.B. Schwiers, the president and CEO of the Greenville-based GrandSouth Bank, cheerfully admits to starting out as a stumbler. “It was an accident,” Schwiers says. “I had no idea what I was going to do when I graduated from college, and it just so happened that the chairman of the board of trustees at The Citadel where I was going to college told me one day that if I decided not
to go into the military that he’d like for me to come by and apply for a job at the bank. And so that’s what I did. They offered me a job, and 40 years later here I am.” Luckily, Schwiers proved to be a good fit with the banking industry, and he’s served as GrandSouth Bank’s president and CEO for the last four years. And at a time when other local financial institutions like Greer State Bank have been absorbed by larger banks or are merging with each other like BB&T and SunTrust, GrandSouth is thriving. “We’ve had a great strong local economy, and we’ve expanded into
INSIDE GrandSouth Bank TOTAL ASSETS
7 1998 190
new markets,” Schwiers says. “We went into Columbia, Orangeburg and Charleston, so it has been a pretty good four-year run, to be honest with you.”
GROWTH IN A SHRINKING INDUSTRY
That level of expansion is no small achievement given how the industry has shrunk over the last two decades. “I think I have my statistics correct here,” Schwiers says, “but in 1990 there were 118 banks headquartered in South Carolina. If you fast-forward to 2020 there are 46, and two of the 46, CresCom out of Charleston and South State out of Columbia, have recently announced that there are merging with other banks. So that the list of 46 is going to shrink to 44.” But in a climate of consolidation, GrandSouth has bucked the trend, ending the fourth quarter of 2019 with
a 28.06% increase in net income over 2018, according to Yahoo! Finance
A COMMUNITY BANK AT HEART
But it also helps that GrandSouth’s approach involves sticking to their strengths, and remembering that they are, at heart, a community bank, with an emphasis on the word “community.” “What GrandSouth does is stick with what we’re good at,” he says. “And we focus on small business banking. We take very good care of those customers, we provide exceptional service and we’re very responsive because decisions are made locally. Community banks tend to know their market pretty well, and they tend to be very good corporate citizens. So there are advantages that we have in being a community bank.”
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March 13, 2020 | upstatebusinessjournal.com
A decade later, Crawford Strategy hasn’t lost its personality n story by EVAN PETER SMITH | photos PROVIDED
A woman does a yoga pose while grinning and glancing to the side. A man is flipped upside down with a soccer ball balanced between his feet. A woman models a sunhat like she’s ready for the beach. Granted, they’re not the typical headshots one is used to seeing on the “Our Team” section of a company website, especially for the three company leaders. But that’s just what the minds behind Crawford Strategy like to call “the Crawford way.” The marketing agency based in downtown Greenville is celebrating its 10th anniversary this month, and its leaders are using the occasion to push forward their own unique strategy for the future – silly headshots and all. “A client of ours was recently asked why he chose to work with
A lot of creative agencies have the talent of creatives but don’t always have that really strong complement of operational excellence.” -Marion Crawford, founder, Crawford Strategy
10 UBJ | March 13, 2020
Crawford,” said Crawford President Andy Windham (aka the man who posed with the soccer ball). “He talked about the creativity, the quality, how we’re going to do what we say we do – but the one thing he said was, ‘They look like my kind of people,’ which I really love to hear.” My kind of people — meaning the kind of people who are comfortable subverting the traditional formalities when necessary, if only so as not to get weighted down by stodgy convention. With a client list that includes United Community Bank, North Myrtle Beach, Michelin North America, Prisma Health and the University of South Carolina Upstate, the strategy appears to be working so far. Founded in 2010 by Greenville native Marion Crawford (aka the woman doing the yoga pose), the company is seeing strong growth and is now elevating its most senior members of leadership to more significant roles. Windham, who previously served as senior vice president of client strategy, is now the new president and chief strategy officer. Andrea Stegall (aka the woman in the sunhat), who previously served as senior vice president of client operations, is now the new chief operating officer. Crawford said the moves cement in place the best aspects of the company. “We’ve had these two professionals associated with the company for nearly seven years,” Crawford said. “A lot of creative agencies have the talent of creatives but don’t always have that really strong complement
2010 Founded with a focus on healthcare, financial services and industrial clients
Andy Windham and Andrea Stegall join the company
of operational excellence.” Likening themselves to two sides of the same coin, Stegall and Windham complement each other well. At the risk of oversimplification, Windham’s team drives the creative side of client strategy, while Stegall’s team makes that vision come to life. “I can come in and be his partner in making sure the strategy he’s outlined and the vision he has really come together,” Stegall said. “What do we need to do, what team do we need, what processes do we need, what’s our timeline, what’s the budget – really what are all those pieces of the puzzle that we need to be sure we’re doing what we need to get the right finish for the client.” But it’s not all about the clients. The company, which was just ranked the 11th Best Place to Work in South Carolina by the South Carolina Chamber of Commerce, focuses on nurturing long relationships with its employees as well. From paying team members for outside professional development to encouraging them to speak up about new ideas for company improvement to letting employees rock workout clothes in the office on Fridays, the 30-strong team at Crawford have created a culture that balances the personal with the professional. Moving forward, the company still strives to keep that balance — the “Crawford way,” if you will — even as
2015 Company expands into travel & tourism and higher education industries
it shifts from its role as a local company punching above its weight to a truly regional agency. “I always wanted to create a great company,” Crawford said. “It didn’t need to be big, but it needed to be great — for both the clients and the employees.”
Windham promoted to President and Stegall promoted to Chief Operating Officer
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Anniversary and Awards Celebration
NEED TO KNOW
Sizing up the Upstate’s startup funding landscape n story by ALEX COOPER
JOIN US AS WE CELEBRATE 10 YEARS OF COMMITMENT TO THE COMMERCIAL REAL ESTATE INDUSTRY AND THE 2020 CREW UPSTATE AWARD WINNERS
photo by CHELSEY ASHFORD
0 3 19 2 0 2 0
5:30PM to 7:30PM GREENVILLE ONE CENTER 2 WEST WASHINGTON STREET, SUITE 200
PURCHASE TICKETS AT CREWUPSTATE.ORG/EVENTS
WINNERS Congratulations to this year’s award winners!
LIFETIME ACHIEVEMENT Debbie McDonough
DISTINGUISHED LEADER Jennifer Mustar
CAREER ADVANCEMENT FOR WOMEN Mark Cooter
RISING STAR Chesley White
DEVELOPMENT IMPACT GSP International Airport Air Cargo Facility Arthrex, Inc.
12 UBJ | March 13, 2020
CREW_UBJ_Half PageCREWAnniversaryWinners_2020.indd 1
3/4/2020 4:48:18 PM
When you’re running a startup, Startups need to show they have one of the things probably going what it takes to scale with capital efthrough your mind is “where do I ficiency as well as to generate a 50% get more money?” return on their money. A startup company is really too Ashkettle from Next says that innew to be a reliable investment or vestors are looking for companies borrower for many, say experts in whose founders have already run the field of startup funding. If your the gamut with ideas of funding, incompany has only been around a few cluding their own. years, it has no history or reputation. “The investors want to see that So it can be hard to get that ini- because if you’re not putting your tial capital to get your company off own money into it, why must the ground. In order to reach the they?” Ashkettle asks. “People forheights you want, you’ll have to get that investors invest to make consider what money. If you’re Christy Ashketnot willing to tle, the director your own Startup capital is put of communicamoney in it then tions and cul- notoriously difﬁcult for they’re not goture at Next, companies to ﬁnd.” ing to think it’s says are the a worthwhile -Matt Dunbar, investment.” three F’s: fammanaging director, Venture South ily, friends and There are fools. “Fools” also local lendare the risk-takers that eners willing to take a change on your trepreneurs can consider. Brian new venture. Brady, instructor and director of Startup companies have the po- Greenhouse Business Incubator tential to bring funding, economic at University of South Carolina growth and jobs to communities. Upstate, says organizations like But that trust in the business to de- CommunityWorks are looking for liver can be fairly low. impact. “It’s more based on how “Startup capital is notoriously the company would benefit the difficult for companies to find,” says community,” he says. Matt Dunbar, managing director at Overall, though, those in the angel-investing platform Venture field of startup funding say that South, which is just one organiza- the most important thing to focus tion that provides investment and on is developing a viable product education to startup companies. and creating a business that can “We essentially make a market sustain itself. While money is necbetween individual investors and essary, without a good product no the startups that want to raise mon- one is going to give you money or ey,” Dunbar says. “We are focused lend you money. on companies that are at the ‘go“It’s about building the compato-market’ stage. It’s more than an ny,” Dunbar says. “Don’t get too idea; it’s a real business.” caught up on the fundraising part.”
LESSONS FROM THE TRENCHES:
It’s never the wrong time to hire the right person
don’t care how great your facilities, furnishings and delivery vehicles are, or how spectacular your inventory assortment is, mediocre people will ensure that you fail. On the other hand, you can have mediocre facilities, secondhand furnishings and used delivery vehicles, but if you have a great team of self-motivated people you will win — and win big. So how do you find great people? Here are some ways that have worked for me:
•Word-of-mouth referrals. When several people you respect tell you about a superstar, you need to hire him or her. It’s never the wrong time to hire the right person. I don’t care how bad the economy is, superstars always find a way to pay for themselves, and then some.
•Job postings. Our HR software allows us to post a job there and it sends it out to ALL major jobs boards. Then, using a series of algorithms, it searches for keyword matches and sends us the resumes that best fit the job description of the open position.
•Ask your customers. Ask them who they deal with from other companies that impress them. Don’t send them an email; pick up the phone and call them. Most people are so busy they will either delete your email or respond that they don’t know anyone, but when you get them on the phone and engage them in conversation you invariably will get a few names. Better yet, take them to lunch.
•Networking. Be active in busi-
ness groups and trade associations, and you invariably will meet people who impress you. Plus, if you’ve known them for a while, you’re not hiring a total stranger, which is a crapshoot. Increase your odds of success by hiring known entities.
•Always be looking. When you
meet someone with “the right stuff,” you know it. The late Herb Kelleher, one of the founders of Southwest Airlines, which has a market cap more than all of the other airlines in the world combined, says that Southwest hires a type of person rather than a person with certain experience. He says that when you meet someone with a great attitude and a magnetic personality, you can teach them everything else they need to know, but no amount of training can fix a bad attitude. I have hired waitresses with great personalities and made them inside salespeople. I have promoted truck drivers into outside sales because of their attitude and their drive, and I have made people with just a high school education officers in my company because of their absolute unwillingness to cut corners, their integrity and their commitment to excellence.
Jim Sobeck is CEO of New South Construction Supply, a building products distributor based in Greenville with nine locations in the Carolinas and Georgia. He is the author of “The New Business 101: Lessons from the Trenches. www.newsouthsupply.com
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NEED TO KNOW
The key ingredient for economic development? Health care
n story by EVAN PETER SMITH
Simply put, Randy Vogenburg wants to get people talking. “It’s amazing what can happen when you just talk to each other,” Vogenburg said.
Everybody knows now what the problems are now. It’s how you get to the solutions that matters.” -Randy Vogenburg, board chairman, Employer Provider Interface Council of the Hospital Quality Foundation That’s why he found it so odd that there continued to exist a stubborn silence between two major groups affecting South Carolina: the economic development crowd and the health care crowd.
14 UBJ | March 13, 2020
“Everybody works in their own silo, and people don’t cross over between silos,” Vogenburg said. “You go to an economic-development conference, and it’s all business and investing people, nobody from health care. And then you have the health care conferences where there’s nobody from the economic development side.” Vogenburg — who, among many other roles, currently serves as board chairman of the Employer Provider Interface Council of the Hospital Quality Foundation — put together an event to address that problem head-on. WellSpent, a half-day conference held Feb. 28 in Greenville, brought together a broad mix of business and health care stakeholders for a series of breakout sessions. The goal of the conference was to highlight the importance of health care for new or existing economic development.
SPECIFIC GOALS INCLUDED:
• Establish private-public sector collaborations around the health of South Carolinians. • Address the current and future employees needed to support business development in South Carolina. • Plug the health care gap to improve the wellbeing of the state’s population. • Build upon how employers’ efforts to improve the wellbeing of their employees and family members. • Explore partnership opportunities in specific areas of health needs. Vogenburg said communication between these two camps is increasingly vital, given the importance of health care access for a region’s longterm growth. “You look at how corporations are putting more emphasis on a stronger-educated workforce, which starts all the way in elementary school and through college and technical schools,” Vogenburg said. “We’ve got
to do the same thing with health care.” The reality is, not all health care operates on the same level, he added. A corporation from New York or Chicago might set up shop in South Carolina under the assumption that “health care is health care,” without realizing the state has many issues that have not been properly addressed. “You need to have health care integrated in with all the other pieces of this economic-development puzzle,” Vogenburg said. The conference is just the starting point for a much larger statewide initiative to link business and health care leaders, with future conferences planned for the future. Vogenburg said the main impetus is to get the right people at the table to start talking. “Everybody knows now what the problems are now,” he said. “It’s how you get to the solutions that matters.”
ON SOCIAL MEDIA
Navigating social media: A guide for small-business owners
oth the beauty and the blight of social media is how quickly it changes. Most recently, Instagram has taken over the social media market. Due to the fast pace of social media and its effectiveness of sharing information, it is important to have a few tips and tricks up your sleeve to attract quality followers who help build and accurately represent your brand.
1. BEAUTIFUL PHOTOS
Perhaps the most logical suggestion on our list of Instagram hacks is to post unique photographs that attract people to your page and establish an online presence to keep people visiting. The average user spends about three seconds viewing your post. So post graphics that make them stop and engage. If you don’t have easy access to a professional photographer or high-quality photographs, try using a consistent filter on all your pho-
tos to establish visual continuity throughout your page.
2. CUSTOMIZE YOUR MESSAGE
Syncing your social media platforms to publish posts at the same date and time may be most convenient; however, it won’t be the most practical. Make sure you are speaking to the correct audience on each individual platform. Typically, users visit Facebook for article-style or informational content, whereas on Instagram the user is focusing on the image, not the caption. Taking the time to customize the captions on each platform will go a long way when it comes to delivering your message effectively.
3. INSTAGRAM STORIES
Recent studies have shown that people are more likely to watch Instagram stories than they are to take the time to scroll through their Ins-
tagram feed. Creating an Instagram story takes very little time and is a fun way to give followers a peek inside your typical workday. It can be as easy as taking a behind-thescenes photo or Boomerang of your next team meeting.
4. CALCULATED REPRESENTATION OF YOUR BRAND
Social media accounts have become the medium through which customers generate their first impressions of companies and brands. Take a minute to sit down with your team and discuss how you want your brand to be perceived via social media. Are you silly or serious? What are your goals? Who are the individuals that make your brand unique? Thinking critically about how you want to present your brand on social media platforms can help establish a more consistent image between your online and offline presence.
5. ENGAGEMENT IS KEY
Make sure to actively like and comment on your follower’s posts. This shows your loyalty to them and will garner engagement back to your page. This is an easy task to forget, so we recommend setting a reminder every day on your phone to actively interact. You will be surprised at how much a few minutes of engagement can pay off in the long run. At the end of the day, it is important to realize that social media is a “social” platform and it is intended for just that. Sara Dolan is a senior account executive for Smoak Public Relations, a local PR agency focused on telling stories, creating memorable experiences and building relationships.
March 13, 2020 | upstatebusinessjournal.com
Our most entertaining classroom awaits your arrival. Witness as these performers prepare to take their passion to the national stage.
NEED TO KNOW
UPSTATE AREA NEWS AND NOTES Eller joins First Citizens as manager of commercial banking Veteran banker Tom Eller has joined First Citizens Bank as manager of commercial banking for Upstate South Carolina. He leads First Citizens’ Upstate South Carolina commercial banking team and is responsible for developing and managing relationships with local companies in the community. “Tom brings a vast amount of financial expertise,” said Brendan Chambers, commercial and middle market sales director at First Citizens Bank. “We’re fortunate to have him lead our commercial banking team as we serve our customers, enhance our presence and build on our foundation in the Upstate.”
Sage Automotive Interiors buys Adient for $175M Sage Automotive Interiors, a Greenville-based automotive textile supplier, is acquiring automotive fabric company Adient for $175 million, according to a news release. Sage company officials said Adient’s textile facilities, a number of which are in Europe, are ideally suited to expand capacity and capability for automotive interior products to the European market. Per a signed agreement, Sage will pay $175 million for Adient’s automotive fabric business. The agreement is subject to regulatory approval and customary closing conditions and is not expected to be completed until the middle of the year.
Prisma Health to acquire KershawHealth and Providence Health Greenville-based Prisma Health and LifePoint Health announced that an agreement has been signed for Prisma Health-Midlands to acquire KershawHealth in Camden, South Carolina and Providence Health in Columbia, South Carolina. By acquiring both KershawHealth and Providence, Prisma Health-Midlands will expand cardiovascular, women’s health, orthopedics and pediatric care across the Midlands region through the addition of three hospitals including Providence Health, KershawHealth and Providence Health Northeast, and a freestanding emergency room in Fairfield county. The completion of the acquisition is pending the fulfillment of customary legal and regulatory requirements.
READ MORE ONLINE www.UPSTATEBUSINESSJOURNAL.com SUBMIT YOUR PRESS RELEASE AT: www.UpstateBusinessJournal.com/submit 16 UBJ | March 13, 2020
HEALTH & WELLNESS
4 reasons patients choose
Concierge medicine Pretty much everyone who thinks about joining concierge care has one thing in common: They’re ready to ditch seven-minute medicine. The question is, why now? Why is now the time to make the jump? While we hear a multitude of responses, a few stand out, again and again, among our patients who’ve already made the switch. You might be surprised to know how many people have experiences similar to yours.
1. High achievers like concierge medicine
Some especially well-behaved people choose concierge care because their traditional doctor can’t keep up with their high-achievement lifestyle. They’re making healthy choices and setting personal goals. They’re learning about new technologies and treatments. They want a true partner for holistic self-care and their constant benchmarks. A traditional doctor doesn’t see them long enough or know them well enough to be a real teammate. If you’re the type of informed consumer and health advocate who wants a proactive outlook, not a disaster-relief mentality, from your physician, then you’re fitting in with many who choose concierge care.
2. An existing condition that requires attentive care
If you have a condition that necessitates a doctor’s in-depth attention, then seven-minute medicine is likely driving you crazy, bankrupt or both. Concierge doctors have more time to look at the big picture of your health. They can review your full list of medications and assess how they interact with one another. They can coordinate care with your other specialists and providers and investigate treatments, including new and cutting-edge methods.
3. Medical scare
We find that plenty of people choosing concierge care came from a moment of reckoning. They have a jarring experience that makes them reexamine their decisions, including their physical wellness choices. For some, a milestone birthday leads them to think about aging and death. For them, candles and cake represent an important time to invest in longevity. For others, a scare comes from someone else’s health lapse. Their parents are suffering, and that struggle reminds them of worrisome aspects of their family medical history. Or an acquaintance from long ago passes away suddenly. “If it can happen to them, it can happen to me,” the thinking goes. For others, when a familiar celebrity gets sick or passes away, the news reverberates in a way they never could have predicted.
It’s your health. What are you waiting for?
Care so personal, it’s like having a doctor in the family. 4. Dissatisfied with traditional primary care
We mentioned that most people who choose concierge care share a frustration with seven-minute medicine. For some of them, that dissatisfaction rises so much that a change absolutely has to happen, and quickly. Some of them feel unheard and, because of poorly diagnosed ailments, have no more time to waste. They’re showing up for one appointment after the next, but they’re not getting better and not seeing their treatment adjusted. They turn to concierge care when they desperately need a true solution to a lingering problem. They want a doctor who learns their medications, diet and lifestyle to uncover the underlying issue. Others grow sick of the system — its complications and its lack of transparency. They want a physician who feels like an advocate. They can’t keep feeling like an unwelcome customer in a bureaucratic machine. They can’t stomach one more unexpected bill for a treatment that was their doctor’s idea and not at all theirs. Do you hear echoes of your own feelings in these common themes? The patients we’re describing took the big step to improve their situation by moving to concierge care. What’s your next step? Greenville’s leading concierge care and corporate health provider.
Experience more personalized care today. Call 864-315-1340 to schedule your free consultation with a concierge primary care physician or a free wellness assessment with a health coach. Greenville’s leader in concierge primary care.
12 Maple Tree Ct., Ste 103 Greenville, SC 29615
March 13, 2020 | upstatebusinessjournal.com
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t’s a day most business owners both dream about and dread: retirement. To get to this major milestone, you’ve put in long hours, sacrificed time with family and friends along the way. You’ve dealt with customers who don’t pay and vendors who don’t deliver. Transitioning out of the business and into the next exciting phase of your life should be the easy part, right? Not always. When the deal closes, the biggest financial event of your life will happen in this one meeting. But will you be able to fulfill your dream of a satisfying, financially secure future when this happens? You’ll either have all the money from the sale (if your deal is all-cash), a good chunk of it with more to come (hopefully) or a down payment on the value of the business along with the promise of a stream of payments to come over time (usually the case in a sale to family members or select employees).
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If you’re like many business owners, you’re probably in one of two camps about what comes next: (1) you’ll want to prepare in advance, learning as much as possible about how to manage the cash you’ll be receiving; or (2) you’ll deal with the issue when the cash actually comes. Either way, the choices you make about your business proceeds will have a profound impact on your life in retirement. That’s why the watchword is “take your time” before moving forward. Your business may represent your largest asset and the foundation for the money you will need in retirement. These taxable assets, along with whatever you’ve set aside in your qualified retirement plan and/or individual retirement account(s), will need to generate
sufficient income to last 20 to 40 years once you stop working. How will you ensure your money goes the distance? A comprehensive transition plan can also provide a timetable and strategies that may help you reduce the tax liability on the transferring of assets on the sale of your business. It can help make sure your income needs are met in the future by taking advantage of opportunities such as setting up a pension plan or other type of a retirement compensation agreement prior to the sale of the business – a move that may assist in reducing the corporate taxes and deferring personal taxes. It may also highlight opportunities to prepay future expenses, thus possibly reducing the amount of after-tax income you may need in retirement. Examples include paid-up life insurance and a special trust to pay for uninsured medical expenses incurred after retirement.
TAKE STOCK OF YOUR FINANCIAL SITUATION
Consider working with a business-transition expert who has the resources to answer more than just the investment management aspect of your wealth. Retirement income distribution planning, estate planning, family gifting and legacy, charitable planning, and medical and long-term-care planning are all areas that should be integrated into your overall plan. Together, they may pay major dividends in terms of financial security for you and your family for years to come. Brett Smith is a wealth management advisor with Northwestern Mutual. To contact Brett Smith, please call 864-679-3848, e-mail; email@example.com or visit www.upstatelegacyplanning.com.
NEED TO KNOW
Duke Foods director becomes certiﬁed food scientist n story by ALEX COOPER | photo PROVIDED
Duke Foods announced last month that the company’s director of research and development, Collin Wolhar, has become a certified food scientist. He joins, according to Duke Foods, fewer than 3,000 on the planet. But what is food science, and why does Duke Foods have a food scientist? The Institute for Food Technology, a professional organization for food scientists, defines it as an interdisciplinary field that serves “to better understand food processes and improve food products for the general public.” “I’m supposed to take this overarching knowledge from microbiology to food chemistry to food engineering and apply that to the creation of new food products or altering current food products,” Wolhar says. Having a food scientist at a manufacturer like Duke Foods helps the business be more efficient, says Paul Dawson, a professor of food science at Clemson University.
According to Duke Foods THERE ARE FEWER THAN
3,000 FOOD SCIENTISTS ON THE PLANET “Knowing why things are occurring and how to solve them, you really need to know the science behind [food] in order to solve the problem, whether it’s a microbiology problem ... to just a quality problem,” Dawson says. The role the food scientist plays can vary, say both Wolhar and Dawson. On an average day at Duke Foods, Wolhar may have his hand in projects that include the sales department to the company’s production department. He might be working on a new product for the company or
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ENTREPRENEURSHIP reverse-engineering a product made elsewhere. While the company has its own line of foods, it also makes private-label food products that you can find in your local grocery store. For those private-label products, companies either come to Duke Foods or Duke Foods goes to the company asking to bid on the product. “Oftentimes we have a customer that says, ‘We really like our competitor’s product. If you can match it at this price, then we’ll give you the business,’” Wolhar says. For example, if a company wants Duke Foods to create its rival’s spinach-artichoke dip, since recipes can’t be patented, Wolhar can take the rival’s dip and work to match it. To do that can be tricky. Wolhar begins by getting the rival’s dip. Then, he reads the ingredient statement and toys with the recipe until the customer is happy. “You make it five, 10, 1,000 times until the customer finally agrees that it’s a match,” Wolhar says. To earn the certificate in food science, which is awarded by the Institute of Food Technology, food scientists need to have a solid background in the field — a mixture of education and work experience — and pass an exam. Overall, food science is a decent industry to be in, he says. “There’s no shortage of people wanting products. I mean, food is often a recession-proof industry,” Wolhar explains. “People are always gonna want to eat.”
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United Community Bank acquires Florida-based Seaside National Bank and Trust n story by ALEX COOPER | photo PROVIDED
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United Community Bank announced on Monday, March 9, the acquisition of Florida-based Three Shores Bancorporation and its wholly owned subsidiary Seaside National Bank and Trust. The $180 million deal will allow United Community Bank to add to its footprint and offer new products in wealth management. The deal, two years in the making, is a strategic fit, said United Community Bank’s president and CEO Lynn Harton. Seaside is headquartered in Orlando, Florida. The acquisition allows United Community Bank to expand to the Fort Lauderdale, Tampa and Jacksonville areas. The acquisition is worth about $180 million, according to a release. The transaction is expected
Virtual reality arcade opening in Greenville at end of March n story by EVAN PETER SMITH | photo PROVIDED
A new virtual reality arcade is taking over the old Organic Cat Café location on Main Street in downtown Greenville. Wantec VR, scheduled to open March 28, aims to bring fully immersive, full-body virtual reality entertainment to Greenville, including simulated race-car driving, two free-roaming multiplayer shooting games and two free-roaming quest games. “These aren’t five-minute games,” said Stefan Rupp, who co-owns Wantec VR along with his wife, Daria. “Our games are all 45 minutes. We want it to be an experience you go to with your friends and family, something you do together with other people.” In all games, Rupp said players don’t have to worry about bumping into others. “With the tracking technology, you will see the other people you’re fighting with. In the zom-
20 UBJ | March 13, 2020 10MBA-Ad1-Print--AfricanAmericanMale-UBJ-v3-2.indd 1
to be finalized in the third quarter of this year. Harton said there would not be any closures of Seaside’s 14 offices, though United Community Bank may add to its branch network. Seaside’s founder, president and CEO Gideon Haymaker will continue on the United Community Bank team, leading the Florida market.
9/20/19 9:16 AM
bie game, for instance, they have special outfits, like in ‘Terminator,’ with metallic armor,” Rupp said. “You can see yourself, too. Move your arms, and you see your arms as they would be in real life.” Wantec VR games are played based on appointment. Rupp said the games are designed for kids and adults of all ages. To learn more about Wantec VR and the story behind its owners, head over to UpstateBusinessJournal.com for our indepth profile.
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One of Greenville County’s largest industrial business parks, Augusta Grove, announced the start of construction on its third multitenant Class A speculative industrial building. The 158,886-square-foot, concrete tilt-wall industrial project is located on over 13 acres near the intersection of Grove Reserve Parkway and Highway 25. It will feature 30-foot minimum clear height, 50-foot by 54-foot column spacing, 60-foot speed bays, 135-foot truck court, 34 dock doors,
over 150 car parking spaces, early-suppression fast-response sprinklers and LED lighting. In addition, the rear-load facility can accommodate up to five different tenants occupying 34,000 to 158,886 square feet. Construction of the new building is expected to be complete in late fall 2020. Existing tenants in the over 1,100acre Augusta Grove business park include GE Aviation, KI Logistics, Magna, Android, JTEKT, Orbis and more. For more information, visit www. augustagrove.com.
Reid’s Fine Foods taking over previous Caviar & Bananas location n story by EVAN PETER SMITH | photo PROVIDED
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22 UBJ | March 13, 2020
Reid’s Fine Foods is opening its fifth location this summer in downtown Greenville in what was the previous Caviar and Bananas location in ONE City Plaza. The new Greenville location of the specialty market and grocery store, the first outside of Charlotte, will offer daily breakfast, lunch and dinner, coffee, a butcher shop, bakery, grab & go, retail wine and artisanal grocery products sourced from local vendors. Catering and gift baskets will also be available. The 4,600 square-foot space will have about 75 seats inside at the wine bar and 75 patio seats. “We’ve been contemplating expanding outside of Charlotte for some time now,” said Tim Coker, managing partner of Reid’s Fine Foods. “And considering we are from South Carolina, my wife and I are both Furman grads, and we have family in Greenville, that was a logical first step for us.” Reid’s Fine Foods has been operating in Charlotte for 90 years, with
four locations in the city. The fifth location in Greenville will be open seven days a week from 7 a.m. to 10 p.m. Calling the new Reid’s location “a complement to the booming food scene” in Greenville, Coker said the familiarity with the local market was the driving factor behind the move. The Greenville location of Caviar & Bananas, which had been operating in the ONE Plaza space since 2016, closed at the start of 2020. A Nashville location also closed, although two other locations in Charleston remain open. Reid’s Fine Foods has not announced a specific date yet for the formal opening. It will be opening at 1 N. Laurens St., Greenville.
Upstate Manufacturers stay alert for coronavirus n story by ALEX COOPER | photo PROVIDED
Manufacturing companies in the Upstate are staying cautious as the novel coronavirus spreads closer to home. One plant near Spartanburg reportedly closed Monday, March 9, for cleaning as one of its employees potentially caught the virus on recent travel to Italy. As more cases are reported, Upstate manufacturing could see the effects continue to ripple. The coronavirus’ toll on production is already being felt by companies globally, including those with significant production in China or that rely on Chinese imports. The New York Times reported that Apple and Microsoft are already feeling the effects of the production halts that stopped Chinese production while the country’s government implemented drastic safety measures.
Across our businesses, we are in constant communication with customers, suppliers, and governments to maintain business continuity to the best of our ability.” -GE spokesperson Companies in the Upstate are bracing for what could come. Ritrama’s Moore manufacturing facility is shut down for a deep clean because an employee may have contracted COVID-19, the disease caused by the coronavirus, local media reported. Others remain worried that they might be next. Michelin said in a statement that the company is “prepared to take action, as needed, in coordination with national, state and
local government entities, as well as our suppliers and customers.” It added that there hasn’t been any “impact or disruption among our plants in S.C. or in North America” nor in their supply chain. The focus right now, it seems, is preparing for what-if scenarios and estimating what needs to be done to lessen the potential blow the outbreak would deal to the Upstate’s manufacturing lines. ZF’s North American head of communications, Tony Sapienza, said, “With regard to the business and our manufacturing processes, ZF is in constant communication with all of our business partners with the aim of keeping supply chains stable and production downtimes low.” Sapienza explained that the production losses could partially be made up through additional work if any disruptions occur. GE also said it was monitoring the situation. “Across our businesses, we are in constant communication with customers, suppliers and governments to maintain business continuity to the best of our ability,” a spokesperson for the company said in a statement. Companies have implemented safety measures to protect employees and their production lines. GE, for example, has already begun using certain precautions and protocols for their sites in China and in locations such as South Korea, Italy and Japan. In a recent conference call, GE’s CEO Larry Culp said the company expects hundreds of millions of dollars’ worth of negative impact in the first quarter of 2020 because of the virus. The manufacturers also are looking into ways to implement flexible work arrangements. Fluor released a statement that said it was “closely monitoring” the
GE estimates a negative impact to operating profit of approximately $200 MILLION - $300 MILLION from COVID-19
Source: Larry Culp, CEO, GE
virus and restricted nonessential business travel to several countries. “The health, safety and well-being of Fluor’s employees are paramount,” the company said. A BMW spokesperson told the Upstate Business Journal that all of the group’s production network is running, and that its three plants involved in the BMW joint venture in China restarted on Feb. 17. “There is currently no impact on the security of supply in our supply chain. Our purchasing experts are monitoring the situation,” the spokesperson said. While companies continue to monitor the situation, some have raised concerns about what the production freezes in China mean locally. “We’re in uncharted territory,” said John Ling, managing director of LinVest Consulting LLC. Ling has spent years bringing Chinese manufacturing to the U.S. He said that when the coronavirus hit the news, he started getting calls from concerned businesspeople. “Many companies [in the Upstate] import stuff for production. If this only lasts one or two weeks, then it’s a different matter, but if it’s dragged out too long, people will get anxious,” Ling said. That anxiety could spell disaster to any economic recovery efforts. While production facilities begin to reopen across China, the major economy is still not seeing produc-
tion at full capacity. Ling said that at the end of this outbreak, the production sector will be able to heal much faster than the service sector, as people will probably continue to be cautious when it comes to travel and exposure to large groups of people. Ling, who has family in China who have been affected by the quarantine efforts to stop the spread of the virus, said that while this may be a once-in-a lifetime event, people and businesses should always plan ahead. Of course, China isn’t the only country that’s stopped production. “We’re in a global economy,” Ling said. “Whatever happens in other countries, especially a major economy, eventually could affect us, too. “No one is immune to this.”
WHAT ARE MANUFACTURERS DOING TO PREPARE?: • Flexible work schedules • Restricted work travel • Continuous monitoring of virus’ spread • New safety protocols • Shutting down facilities if necessary
March 13, 2020 | upstatebusinessjournal.com
NEED TO KNOW
Wandering Bard signs lease for Hampton Station n story by ARIEL TURNER | renderings by ALEXANDER LAY
Wandering Bard Meadery is the latest business to join the food and beverage and creative collective at Hampton Station, 1320 Hampton Ave., near Due South Coffee Roasters.
The new taproom will include
MEAD, CIDERS, WINES & SMALL BITES The Mauldin-based company is moving its production facility and opening a taproom across from White Duck Taco Shop and Birds Fly South Ale Project. “The atmosphere and vibe at Hampton Station is something we really like,” says co-owner Brian Daughhetee.
Currently, the meadery in Mauldin is operating as a production facility and has open houses only once a month. Daughhetee says it was time to change that and find a location that could accommodate regular, open hours to serve their customers rather than having to refer them to offsite retailers. The current 1970s, un-air conditioned warehouse is not the environment in which that would work. “We are very excited to expand our mead production and distribution to include a full-time tasting room with light-fare food and entertainment while becoming a part of the Hampton Station community,” says Adam Daughhetee, Brian’s nephew and head of marketing and operations. Mead is an alcoholic beverage made by fermenting honey with water. Wandering Bard Meadery takes
that basic premise and builds on it but including fruits and spices to create a variety of flavor profiles. The new taproom will include mead, ciders, wines and small bites that complement the beverage options. Brian Daughhetee says the owners hope to open by June if construction moves along as planned.
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NEED TO KNOW
Bricolage Dynamics brings glass recycling innovation to the Upstate
Recycled glass is pounded into sand and then sold
n story by ALEX COOPER | photo PROVIDED
The idea to start a company that could revolutionize how we think of recycling and how we actually recycle emerged out of a paper Zebulon Parsons wrote while studying for his masters degree in supply chain management in Dublin, Ireland. The Upstate native and Clemson University grad, 28, wrote his essay on bricolage, a term that Parsons describes as “taking the odds and ends together in a creative way that restores value to something.” While Parsons was living and working in Australia, the initial steps toward what would become Bricolage Dynamics began. He thought of a previous company he worked for that made a lot of byproduct, stuff that they just dumped — thousands of dollars worth. How, Parsons thought, could you get the byproduct and not just throw it away? How could you harness it? The Environmental Protection Agency estimated that South Carolina disposed of more than 630,920 tons of recyclables in fiscal year 2018. “More than $68.4 million of potential revenue from the sale of these recyclables was lost,” the South Carolina Department of Health and Environmental Control reported last year.
how you can get involved... Enroll in Bricolage Dynamics residential glass pickup service. You will receive a complimentary recycling bag and twice a month pickup service - benefiting the environment and the community. Find out more at www.bricdynamics.com
While cities seem to blame glass on these issues, Parsons says that it’s really about the single-stream recycling. Bricolage Dynamics is based on multistream recycling. And while the company collects and processes only glass at the moment, it plans to add other recyclables, like plastic, in the future. The subscription-based service works by having someone from Bricolage Dynamics collect a household’s collected glass every two weeks. Parsons also plans to introduce drop-off bins in select locations across the Upstate in the coming months. After Bricolage Dynamics picks up the glass, it’s pounded into sand with a Retrieving lost revenue while helping the environment machine. Bricolage Dynamics then sells the sand. Parsons and his company are looking to retrieve that lost revenue by going Bricolage Dynamics has enrolled 100 customers since its subscription serafter glass. vice began accepting customers in December. Greenville hasn’t recycled glass for a few years now, which is a trend Parsons The company’s model has already been noticed by some investors. In Febsays he saw when he started studying reruary, the company announced it had been accepted cycling behavior and patterns across the to participate in the Fledge Conscious Business AcU.S. celerator in Seattle. Beating out over 800 companies A critical aspect of rejecting glass refrom 50 countries, they’ll be one of seven companies cycling, he explains, comes down to the selected. The accelerator will provide Parsons with two strands of recycling: single-stream mentorship and guidance to help continue Bricolage The Environmental Protection Agency estimated that South Carolina recycling and multistream recycling. Dynamics’ growth. The program ends with a pitch disposed of more than 630,920 tons of recyclables in fiscal year 2018. A single-stream recycling system is meeting with venture capitalists who could help Parbased on collecting recyclable items tosons take his service to the next level. gether, taking them to a recycling facility While working to provide a recycling service that and then separating the types of recyclano longer exists in Greenville, Bricolage is also “trybles out. This system is the most popuing to change the way the U.S. recycles,” Parsons says. “More than $68.4 million of potential revenue from the sale of these lar across the country. In a multistream “If you contaminate one 32-gallon recycling bin, recyclables was lost,” the South Carolina Department of Health and system, there’s no mixing of types of reand then that goes and contaminates a 12-ton reEnvironmental Control reported last year. cycling — each recyclable is placed only cycling truck, that whole truck could be landfilled,” with its type. It’s the difference between he explains. “So it doesn’t matter what the other 30 the two that has caused cities to give up neighbors are doing if they’re all doing it right and you’re doing it wrong.” on glass, says Parsons. “You throw a glass bottle in a bin, it shatters and gets lodged in the cardThis series is made possible by the support of our community partners at board, in the metal and in the plastic,” Parsons explains. “It becomes really hard to separate it all out when it’s thrown in one bin. Cross-contamination is so high in these kinds of things.” When that happens, he says, they have to throw away the cardboard that they could have made money with. “For a lot of cities, they’re like, ‘You know what, glass, it shatters, it’s heavy, it’s difficult to sort out. Let’s get rid of it and 864.908.3062 | atlocke.com keep the [others].’”
26 UBJ | March 13, 2020
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Urban Wren opens in Markley Station n story by ARIEL TURNER | photos by ANDREW CEBULKA
Urban Wren opened March 5 in the adaptive reuse project Markley Station, two blocks from Fluor Field at 116 N. Markley St., Suite 102. This completes the food and beverage components in the development that also includes Hoppin’, a taproom concept from Charlotte, and Todaro Pizza, based in Clemson. All three open on to a central plaza that will feature live music through-
28 UBJ | March 13, 2020
out the warmer months. The wine-centric restaurant, owned and operated by the Lincoln family, evolved from the original idea Nick Lincoln, executive director, had to make wine in an urban environment. While that is still the plan, eventually, the wine fermentation and barrel room will be his playground, rather than a central part of the concept at this point, his wife and events and marketing manager, Haleigh Lincoln, said. Grapes and juice will be sourced, initially, from domestic vineyards, and Nick Lincoln will go to work creating Urban Wren’s first wine. That likely won’t happen until the restaurant is solidly operating.
Advanced sommelier and general manager Eric Cooperman is leading the wine program that includes 45 by-the-glass options and a 3,000-bottle wine cellar. In order to appeal to more than the wine connoisseur, the beverage program also includes cocktails using a variety of base spirits. The culinary program, designed with a shared-plate approach, is led by executive chef Taylor Montgomery. Along with more than a dozen small plates and traditional entrees, a prix-fixe chef ’s table tasting menu will be available nightly. The menu features an array of global flavors while using as many locally sourced products as possible. The space includes various seating vignettes, including the Chef ’s
Table overlooking the kitchen, the dining room, a central bar and a fireside nook. Upstairs from the 6,000-squarefoot ground level, The Loft event space with its own separate entrance holds up to 160 seated guests and includes a private bar. Additionally, the Urban Wren Market near the downstairs entrance will have a selection of take-away items, including house made charcuterie, bottles of wine and local products. Hours of operation are Sunday, Monday, Wednesday and Thursday: 4–10 p.m.; Friday and Saturday: 4–11 p.m.; and closed Tuesday.
NEED TO KNOW
Greenville-based Mailprotector gets $5 million in funding, will add 30 new positions n story by EVAN PETER SMITH | photo PROVIDED
David Setzer, the founder and CEO of Greenville-based cybersecurity company Mailprotector, likes to joke that his company is “a 20-year-old startup.” “We started so long ago here in Greenville, and at that time, there weren’t venture capital folks running around in Upstate South Carolina” Setzer said. “Since then, the landscape has changed significantly.” Mailprotector — a cloud-based email security, compliance, encryption and hosting platform — is particularly emblematic of that change. The company has just raised $5 million in growth equity funding from Ballast Point Ventures, a venture capital firm based in Tampa, Florida. The funding will allow Mailprotector to accelerate product development, grow sales and marketing efforts, and expand its services. Setzer said the business also plans to hire 30 additional employees, about three quarters of whom will be locally based. “We’re creating tech that has strong market demand,” Setzer said. “But more than that, we want to help build the tech ecosystem here in Greenville, to get the momentum and the word out that Greenville is a great place for tech startups, and it’s a great place for investors to be looking into.”
EASY, BUT HORRIBLY DIFFICULT
Perhaps more so than any other industry, the technology field requires its practitioners to grapple with translating exceedingly complex products into something that is simple to understand for the general public. It’s a challenge baked into Mailprotector’s business model. “Email encryption is actually super easy,” Setzer said, “but
We’re a product of the tech and entrepreneurial ecosystem here in Greenville.” -David Setzer, founder & CEO, Mailprotector making encryption people can use is horribly difficult.” Mailprotector addressed that problem with its Bracket encrypted email solution, which allows encryption without any plug-ins, additional apps or convoluted updates, or having to remember multiple passwords. Users simply type the subject line of their email in brackets — [like so] – and the email is automatically encrypted. “And we found that the easier encryption is to use, the more people use it and the safer it is to use it,” Setzer said. The new round of funding will allow Mailprotector to build out Bracket and expand its complementary offerings. “We’re not figuring out how to make a great product, and we’re not figuring out how to take that product to market,” Setzer said. “What was limiting us was the fact that we could only do a little bit of it because we didn’t have the resources. That’s now changed.”
Concierge medicine aims to provide better care to fewer patients
n story by JOHN JETER
Peter Butenhoff’s sinuses have been nagging him for a few months. Within the last five years, he’s also had a heart attack, two hernia operations and a hip replacement. “The last few years, it’s been dealing with the years of living harder and faster in my youth,” says the retired mid-level executive and onetime tech entrepreneur, who turned 77 in February. To get medical attention now, he simply picks up the phone; before an interview, he chatted with his physician, who offered to call in a prescription for a different nasal spray. “That might help dry me up as a result of that conversation.” Butenhoff and his wife, Nancy, live on Lake Keowee. He pays $1,500 for himself and $1,200 for his wife to belong to Mountain Laurel Internal Medicine in Seneca. Dr. David Liebman opened the concierge practice about a year and a half ago. Liebman is now among some 12,000 such physicians nationwide whose annual fees range from $1,200 to $2,400, according to statistics from the Washington Post. They serve fewer patients. Rather than 1,700, Liebman counts 400. That also means appointments can last up to an hour, and they start on time, the Post reports, adding: “Compare that with the 18-minute wait time and 20-minute-average visit at a traditional practice.”
There are approximately
12,000 concierge physicians nationwide
Dr. Jana Morse, who has lived in Greenville since earning her degree from the Medical University of South Carolina in 1991, joined PartnerMD, a concierge network, in July 2013. The Richmond, Virginia-based company actually employs everyone who works for its roughly two dozen physicians in six, soon to be seven, clinics in four states. Two
Dr. Jana Morse, Partner MD photo PROVIDED
family doctors work with Morse at the clinic near Thornblade, where support staff handles every aspect of the operation, including regulatory compliance — except doctoring. PartnerMD cuts all the checks, even to its member doctors. “We just practice medicine,” Morse says. “I was never trained to run a business. That was not part of my medical school curriculum or part of my training or part of my inclination. I’m not a business person.” Echoing the others, while also trying to put a number on the patients she would see in her previous job, she now focuses on about 350 patients. “Wow,” she adds, “it’s impossible to do the job that needs to be done in the time allotted in a standard medical practice.” Dr. Jerome Aya-Ay says he opened his direct primary care practice, Palmetto Proactive Healthcare, for much the same reasons. Among several distinctions between the two: Direct primary care practices don’t take insurance, while concierge practices bill the likes of BlueCross Blue Shield of South Carolina and Medicare, though Liebman says not all concierge practices do. Butenhoff, then, in addition to his annual fee, pays premiums and deductibles. Aya-Ay charges $70 a month, which includes appointments, X-rays and services such as labs, which cost $5 each. “If you get a cholesterol panel at any other lab: $120,” says Aya-Ay. “We charge $5.”
March 13, 2020 | upstatebusinessjournal.com
NEED TO KNOW
On the Move
Some of the Upstate’s most recent hires, promotions, awards and appointments HIRED:
Melinda Davis Lux recently
Michelle Taylor-Smith recently joined Clemson
joined United Community Bank as executive vice president, general counsel and corporate secretary. Davis Lux will oversee the company’s legal and governance matters. Davis Lux had been a partner at Womble Bond Dickinson in Greenville and global board member of Womble Bond Dickinson International. At United Community Bank, she’ll have transactional, regulatory and strategic involvement and will work closely with the bank’s board of directors.
University School of Nursing as operations officer for the Center for Research on Health Disparities. TaylorSmith is a graduate of the University of Toledo and the Medical College of Ohio. She also teaches in the Osher Lifelong Learning Institute at Furman University.
HIRED: Michael Williamson recently joined Northside
Development Group as CEO. Williamson previously worked in the non-profit affordable housing sector with Habitat for Humanity and Community Link. He is a graduate of Clemson University.
Rick Harris was recently named to the Community
Ruth Parr recently joined LS3P as strategic BIM
Foundation of Greenville’s board of directors for a threeyear term. Harris is the owner of RL Enterprise & Associates, LLC. He is a graduate of Ohio State University.
manager. A graduate of Princeton University, Parr is a registered architect in the state of California. She previously worked as chief BIM strategist at a firm in Cambridge, Massachusetts.
SAME SOUL. Get 12 issues of TOWN directly in your mailbox.
30 UBJ | March 13, 2020
NEED TO KNOW
Lori Jones recently joined Burns & McDonnell to
Hesha N. Gamble, Greenville County’s county
lead and deliver manufacturing, industrial and commercial facilities solutions across the region. Jones has more than 20 years of engineering, construction and business development experience working with a wide range of public and private sector clients.
HIRED: Josh Craig recently joined Lima One Capital as chief
revenue officer. Craig previously worked for Finance of America Commercial and Wells Fargo. He is a graduate of Wake Forest University and Kentucky Wesleyan College.
AWARDED: Lucas Young, a principal at the Fuller Group, LLC,
was recently presented the South Carolina Society of Professional Engineers’ Piedmont Chapter 2020 Young Engineer of the Year Award. Young is a graduate of Clemson University.
engineer, was recently presented the South Carolina Society of Professional Engineers’ Piedmont Chapter 2020 Engineer of the Year Award. Gamble is a graduate of Clemson University and has worked for Greenville County for 18 years.
PROMOTED: Lauren Roach was recently promoted chief marketing
officer of Elliott Davis. Roach has served as director of marketing communications for the past two years. She previously served as marketing director for Wyche and has more than five years of advertising agency experience.
PROMOTED: Cindy Lollis was recently promoted to vice president of finance at NHE Inc. Lollis has more than 20 years in property management. Since joining NHE in 2013 she has served as conventional business unit controller and corporate controller.
March 13, 2020 | upstatebusinessjournal.com
NEED TO KNOW
New to the Street Recently opened businesses in the Upstate
Sapphire Creek recently held a ribbon cutting. This venue offers event design, photo booth, prop rental and floral design through Sapphire Blooms. This location also features an indoor wedding space and a garden. Stretch Zone recently held a ribbon cutting. This business allows
customers to use its patented equipment with guidance on how to properly position, stabilize, isolate and manipulate their muscles. Where: 67-A Woodruff Industrial Lane, Greenville
Hours: 8 a.m.-7 p.m. Mondays-Saturdays
Where: 401 N. Main St., Simpsonville Hours: 10 a.m.-4 p.m., Mondays-Fridays For more information: Call 864-238-9392, email firstname.lastname@example.org or visit www.eventsatsapphirecreek.com
For more information: Visit www.stretchzone.com/locations/greenville-sc, call 864-373-9044 or email email@example.com
Salons by JC recently held a ribbon cutting. This company has
locations across the United States and Canada, and this Greenville salon is its 100th location. Some of the services offered at this salon include hair cutting and coloring, massage and facials. Where: 1117-J-1 Woodruff Road, Greenville
For more information: Visit www.salonsbyjc.com or call 864-448-4636
32 UBJ | March 13, 2020
Mau Workforce Solutions recently opened a new location. This staffing company works with a variety of businesses including BMW, BOSCH, MAGNA, Milliken and more. Where: 7993 Pelham Road, Greenville Hours: 8 a.m.-5 p.m., Mondays-Fridays For more information: Visit mau.com or call 864-272-3110
BUSINESS ON TAP presented by
FIRST DRINK IS ON US. NETWORKING IS ON YOU. WHERE:
Stella’s Southern Brasserie
340 Rocky Slope Road |Greenville
Wednesday, March 25 5:30 - 7:00 PM
UBJ’S CASUAL NETWORKING EVENT. BRING YOUR FRIENDS, GRAB YOUR BUSINESS CARDS, AND MEET OTHER LOCAL PROFESSIONALS. No pressure. No presentations.
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Networking + Business Events Planner MARCH
Sales Doesn’t Have to Be Sleazy: How to Sell More Without Losing Your Soul 3-7 p.m. | Greenville Center for Creative Arts 101 Abney St., Greenville This workshop is taught by Jen Aly. In this workshop, you will learn a new way of looking at, thinking about and approaching sales. This will be an interactive workshop where we do role plays, examine case studies, and practice new skills in sales.
Young Professionals Breakout Breakfast 7:30-9 a.m. | Ruth’s Chris Steakhouse Downtown The featured speaker for this networking event is Steve Nail, dean of the College of Business at Anderson University.
$10/Greenville Center for Creative Arts member; $20/non-member; www.artcentergreenville.org/winter-workshops.
Growth & Infrastructure Committee 8:30-9:30 a.m. | Greenville Water Community Room guest presentations on important issues such as road projects, rail, air service, public transportation and our ports. Jason Zacher at 864-239-3718 or jzacher@ greenvillechamber.org.
34 UBJ | March 13, 2020
Free /chamber Young Professionals members, $25/non-member; Andrew Van at 864-2393704 or firstname.lastname@example.org.
2020 Annual Celebration featuring Simpsonville’s A-List Awards 5:30-8 p.m. | Simpsonville Activity & Senior Center Join the Simpsonville chamber to celebrate another successful year in a party atmosphere. $50; open to Simpsonville chamber members; Jennifer Richardson: email@example.com.
Lunch & Learn Series
1-5:30 p.m. | Huguenot Mill and Loft The event focuses on connecting young professionals across the Upstate, giving them opportunities to network as well as to hear from experts on topics that are relevant to their working lives.
11:45 a.m.-1 p.m. | Simpsonville First Baptist Church This monthly series is presented by the Simpsonville chamber. This month’s topic is cyber risk and how to prepare a business for it.
5:30-7:30 p.m. | Stella’s Southern Brasserie Spend an evening with the Upstate Business Journal and Upstate professionals at Stella’s Southern Brasserie. Presenting sponsor: Intelli-NET
$10 per Simpsonville chamber member, $20 per non-member; JR Humprhies at firstname.lastname@example.org.
Networking Sponsor: Bank of Travelers Rest
$25 per person; Sharon Purvis at spurvis@ tenatthetop.org.
Business on Tap
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MARKETING & ADVERTISING MANAGER OF BUSINESS DEVELOPMENT
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
UBJ milestone jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport
Donna Johnston Chairman larry Jackson, Jackson marketing Group. Photos by Greg Beckner / Staff
MARKETING REPRESENTATIVES Heather Propp | Mary Hill |Michelle Fleury
1997 Jackson Dawson launches motorsports Division 1993
1990 Jackson Dawson acquires therapon marketing Group and moves to Piedmont office Center on Villa.
Jackson Marketing Group celebrates 25 years By sherry Jackson | staff | firstname.lastname@example.org
Solve. Serve. Grow. Those three words summarize Jackson Marketing Group’s guiding principles, and according to owner Larry Jackson, form the motivation that has kept the firm thriving for the past 25 years.
Jackson graduated from Bob Jones University with a degree in video and film production and started his 41-year career in the communications industry with the U.S. Army’s Public Information Office. He served during
Vietnam, where he said he was “luckily” stationed in the middle of Texas at Fort Hood. He left the service and went to work in public affairs and motorsports at Ford Motor Company in Detroit. After a stint at Bell and Howell, where he was responsible for managing Ford’s dealer marketing and training, the entrepreneurial bug hit and he co-founded Jackson-Dawson Marketing Communications, a company specializing in dealer training and product launches for the auto industry in 1980. In 1987, Jackson wanted to move back south and thought Greenville would be a good fit. An avid pilot, he
learned of an opportunity to purchase Cornerstone Aviation, a fixed base operation (FBO) that served as a service station for the Greenville Downtown Airport, providing fuel, maintenance and storage. In fact, when he started the Greenville office of what is now Jackson Marketing Group (JMG) in 1988, the offices were housed on the second floor in an airport hangar. “Clients would get distracted by the airplanes in the hangars and we’d have to corral them to get back upstairs to the meeting,” Jackson said. Jackson sold the FBO in 1993, but says it was a great way to get to know Greenville’s fathers and leaders
with a majority of them utilizing the general aviation airport as a “corporate gateway to the city.” In 1997, Jackson and his son, Darrell, launched Jackson Motorsports Group. The new division was designed to sell race tires and go to racetracks to sell and mount the tires. Darrell Jackson now serves as president of the motorsports group and Larry Jackson has two other children and a son-in-law who work there. Jackson said all his children started at the bottom and “earned their way up.” Jackson kept the Jackson-Dawson branches in Detroit and others in Los Angeles and New York until he sold his portion of that partnership in 2009 as part of his estate planning. The company now operates a small office in Charlotte, but its main headquarters are in Greenville in a large office space off Woodruff Road, complete with a vision gallery that displays local artwork and an auditorium Jackson makes available for non-profit use. The Motorsports Group is housed in an additional 26,000 square feet building just down the street, and the agency is currently looking for another 20,000 square feet. Jackson said JMG has expanded into other verticals such as financial, healthcare, manufacturing and pro-bono work, but still has a strong focus on the auto industry and transportation. It’s
2009 Jackson Dawson changes name to Jackson marketing Group when larry sells his partnership in Detroit and lA
2003 motorsports Division acquires an additional 26,000 sq. ft. of warehouse space
1998 1998 Jackson Dawson moves to task industrial Court
also one of the few marketing companies in South Carolina to handle all aspects of a project in-house, with four suites handling video production, copywriting, media and research and web design. Clients include heavyweights such as BMW, Bob Jones University, the Peace Center, Michelin and Sage Automotive. Recent projects have included an interactive mobile application for Milliken’s arboretum and 600-acre Spartanburg campus and a marketing campaign for the 2013 Big League World Series. “In my opinion, our greatest single achievement is the longevity of our client relationships,” said Darrell Jackson. “Our first client from back in 1988 is still a client today. I can count on one hand the number of clients who have gone elsewhere in the past decade.” Larry Jackson says his Christian faith and belief in service to others, coupled with business values rooted in solving clients’ problems, have kept
2003 2009-2012 Jackson marketing Group named a top BtoB agency by BtoB magazine 4 years running
him going and growing his business over the years. He is passionate about giving back and outreach to non-profits. The company was recently awarded the Community Foundation Spirit Award. The company reaffirmed its commitment to serving the community last week by celebrating its 25th anniversary with a birthday party and a 25-hour Serve-A-Thon partnership with Hands on Greenville and Habitat for Humanity. JMG’s 103 full-time employees worked in shifts around the clock on October 22 and 23 to help construct a house for a deserving family. As Jackson inches towards retirement, he says he hasn’t quite figured out his succession plan yet, but sees the companies staying under the same umbrella. He wants to continue to strategically grow the business. “From the beginning, my father has taught me that this business is all about our people – both our clients and our associates,” said his son, Darrell. “We have created a focus and a culture that strives to solve problems, serve people and grow careers.” Darrell Jackson said he wants to “continue helping lead a culture where we solve, serve and grow. If we are successful, we will continue to grow towards our ultimate goal of becoming the leading integrated marketing communications brand in the Southeast.”
2011 Jackson marketing Group/Jackson motorsports Group employee base reaches 100 people
AS SEEN IN
RELATIONSHIP MANAGER Anita Harley
American Red Cross of Western Carolinas Metropolitan Arts Council Artisphere Big League World Series The Wilds Advance SC South Carolina Charities, Inc. Aloft Hidden Treasure Christian School
CoMMUnitY inVolVeMent & boarD positions lArry JACkson (ChAirmAn): Bob Jones University Board chairman, The Wilds Christian Camp and Conference Center board member, Gospel Fellowship Association board member, Past Greenville Area Development Corporation board member, Past Chamber of Commerce Headquarters Recruiting Committee member, Past Greenville Tech Foundation board member David Jones (Vice President Client services, Chief marketing officer): Hands on Greenville board chairman mike Zeller (Vice President, Brand marketing): Artisphere Board, Metropolitan Arts Council Board, American Red Cross Board, Greenville Tech Foundation Board, South Carolina Chamber Board eric Jackson (Jackson motorsports Group sales specialist): Salvation Army Boys & Girls Club Advisory Board
NOVEMBER 1, 2013
Order a reprint today, PDFs available for $25. For more information, contact Anita Harley 864.679.1205 or aharley@ communityjournals.com
ACCOUNT MANAGER CLIENT SERVICES Lizzie Campbell | Georgia Gay John Olson
ART & PRODUCTION GRAPHIC DESIGN
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Laura Allshouse, Kimberly Collier
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share your best photos of what the Upstate has to offer.
Each month one Editor’s Choice winner will win a $50 gift card to an Upstate business. Three honorable mention photos will also receive a $25 gift card to an Upstate business.
DIGITAL CONTENT MANAGER
SALES OPERATIONS MANAGER Meredith Rice
2012 Jackson marketing Group recognized by Community Foundation with Creative spirit Award
November 1, 2013 Upstate bUsiness joUrnal 21
20 Upstate bUsiness joUrnal November 1, 2013
Winning entries will be published in the Greenville Journal.
MARCH 2020 THEME:
ARCHITECTURE AROUND TOWN
Circulation Audit by
VICE PRESIDENT OF OPERATIONS Holly Hardin
ACCOUNTING AND HR MANAGER Kristi Fortner
HOW TO CONTRIBUTE Have a recently opened business in the Upstate? Submit photo and details to firstname.lastname@example.org
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publishers of GREENVILLE JOURNAL 581 Perry Avenue, Greenville, SC 29611 864-679-1200 | communityjournals.com For subscriptions, call 864-679-1240 or visit UpstateBusinessJournal.com Copyright ©2020 BY COMMUNITY JOURNALS LLC. All rights reserved. Upstate Business Journal is published biweekly by Community Journals LLC. 581 Perry Ave., Greenville, South Carolina, 29611. Upstate Business Journal is a free publication. Annual subscriptions (26 issues) can be purchased for $50. Postmaster: Send address changes to Upstate Business, 581 Perry Ave., Greenville, South Carolina, 29611. Printed in the USA.
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March 13, 2020 | upstatebusinessjournal.com
Anthony Panuccio and Emory Hendrix provide
Anthony, Managing Director of Investments, has 30 years of experience in providing carefully customized and personalized financial advice to his clients. “This is our life’s work,” Anthony says of himself and his team, which includes co-portfolio manager of 8 years and Financial Advisor, Emory Hendrix; senior registered service associate Kathy Muilwyk; and client service associate and event planner Tiffany Lathan. The team works together as P&H Consulting of Raymond James. “We try to serve as a wall between our clients and any financial setbacks that could occur. We attempt to protect them.” states Anthony, who earns his financial expertise every day with a laser focus on the investment market. Anthony, a Clemson economics major alumnus, serves as the principal of the group, but relies heavily on his partner Emory for creative ideas, analytics, and critical personal interaction with clients. “Our clients need to have conversations about their goals with someone who has experience and compassion,” says Emory, also a Clemson graduate, who specializes in individual stock portfolio management and alternative investments.
Anthony and Emory are committed to maintaining their boutique practice. As such, they work with fewer than 100 client families and therefore are able to offer a high-touch service model and an uncommon client experience. To communicate, educate, and bring their clients through the rough patches in the market, the team holds frequent social and educational events with clients in addition to their regular contact.
P&H Consulting works primarily with individuals and families with an investment portfolio of at least $2 million. As Emory states, “We don’t attempt to be all things to all people. We know where we excel and we keep a focus on our disciplined process of active portfolio management.” Raymond James & Associates, Inc., Member New York Stock Exchange/SIPC
Emory notes, “It’s a common practice today for financial advisors to hire a mutual fund or other third party manager to manage client accounts. As such, portfolios are managed as a group and not specifically for the client’s own unique needs and wants. We believe our clients deserve a more personalized touch.” Emory and Anthony pledge to personally review and evaluate every position for every account every day. Anthony adds, “You want to be able to look yourself in the mirror every day and be proud of what you do; our clients become our extended family, and we care about them.”
112 Haywood Road, Greenville, SC 29607 864.289.2104 | www.pandhconsultinggroup.com