Executive profile: Yank Heisler: CEO, McDonald Financial Group and chairman of KeyBank, N.A.

Yank, why is now such an important time for investors, particularly those who are high-net worth (HNW) individuals and small business owners?

This generation is on the verge of one of the largest intergenerational transfers of wealth in U.S. history. This fact--coupled with challenging stock market conditions--makes having a trusted financial adviser, to help navigate clients through complex options, more important than ever.

Why do CPAs make good potential partners for financial services providers such as McDonald Financial Group?

McDonald Financial Group examines a client's overall financial picture and then assembles the right resources to meet the client's objectives--including CPAs, attorneys and centers of influence. Because MFG and CPAs share a common commitment to providing objective and appropriate solutions to our clients, we have been able to build strong, effective relationships with our CPA colleagues.

What are the most common concerns or misconceptions that CPAs may have today about referring their clients to (or partnering with) outside providers of financial advisory services?

The clients that we serve are very sophisticated and recognize there are times when additional expertise is needed to address their needs. Your trusted adviser status grows in the eyes of the client when you are able to identify the right financial adviser to introduce into the relationship.

What are some of the metrics that MFG uses to measure a successful partnership with CPAs and other financial advisers?

We measure success by answering a few basic questions:

* How often are we meeting with CPAs and their clients to present solutions?

* How many "warm" introductions are we making to each other?

* How are our clients benefiting as a result of our collaboration?

What makes the MFG approach so unique when it comes to offering clients financial planning, estate planning, wealth management and/or life insurance services?

While many firms can address a HNW client's needs from a brokerage or a banking perspective, McDonald Financial Group--which was formed by combining KeyCorp's private banking, trust and investr0ent capabilities--can address a client's total financial picture and deliver a broad array of solutions including banking, trust, investing, financial planning, charitable giving, estate planning, retirement planning, insurance and more.

What is your personal background in the area of financial planning and investment advisory services?

During my 29-year career, I have served in a variety of executive positions including Chairman and CEO of KeyBank NA, President of Key Capital Partners, President of Key PrivateBank and President and Chief Executive Officer of the former Society National Bank.

Looking ahead three to five years, what new services do you anticipate MFG offering to high net worth individuals and small business owners?

MFG realizes that HNW individuals and business owners will want to maximize the financial capabilities of their assets by strategically aligning their credit and investment needs with their trusted financial adviser/institution. The delivery of these customizable solutions will most likely be through a team of advisers as well as on the Internet. Due to the intergenerational transfer of wealth issue that was mentioned earlier, trust offerings will continue to be an important part of the solutions we offer clients.

What should today's young workers be thinking about now when it comes to their financial and retirement planning?

The first advice I would give would be to establish a relationship with a financial adviser who can help build a financial plan that addresses their lifetime needs and goals and who can explain their various options. The more that young people learn about how various financial vehicles work, the greater their chances of achieving their goals. Another important concept for saving for the future is to start now and take advantage of tax-deferred vehicles, which are extremely powerful when time is on your side.

What is the most challenging aspect of partnering with CPAs today?

CPAs are extremely busy professionals, and this has only increased with Sarbanes-Oxley requirements. When our teams schedule meetings with CPAs, we do so in a manner that ensures that we add value for the CPA. MFG also builds relationships with CPAs in an atmosphere of trust and collaboration.

How long has MFG been working with CPAs and their clients?

Through its constituent companies, McDonald Financial Group has a century-plus heritage of serving affluent Americans and their families. This includes working closely with CPAs to ensure clients are well positioned to achieve their personal and financial objectives.

Do any top executives at MFG hold the CPA credential (or have accounting backgrounds)?

Several MFG leaders, including trust officers and senior managers, as well as a number of our financial advisers, hold this credential. In addition, one of our senior leaders serves as Chair of the Ohio Society of CPAs, one of the country's largest CPA chapters. We believe this demonstrates the tremendous value this designation represents to our clients and to our organization.

Any additional information about MFG that you would like AICPA members and Journal of Accountancy readers to know about?

McDonald Financial Group has a broad array of banking, trust and investing solutions that can add value to the clients you serve. We have enjoyed our long, ongoing association with AICPA members and look forward to continuing to work together in the best interests of our clients.