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CEO Report

March 6th, 2013

By Jeff Petersen, CFP®

On behalf of the Petersen Hastings Team, I would like to thank our many clients for their continued loyalty. 2012 was another eventful year with financial uncertainty being spurred on by the presidential election and continued political dysfunction. Once again, properly diversified, patient, long-term investing paid off with the stock markets providing our clientele with another strong year of performance. Now in 2013, with the unknown effect of the “Sequester” on the financial markets, once again we recommend that our clients remain focused on the long term and avoid risky short-term investment decisions.


With the growth of our client portfolios and many new clients selecting Petersen Hastings as their Wealth Manager, we have seen the assets that our clients trust us to manage grow to $445 million at the end of 2012. This makes us one of the largest independent advisors in eastern Washington. As our organization continues to grow, we realize that we need to make leadership adjustments to maintain our balance between a high level of client service and new client growth. As a result of our strategic planning process, we have split the President and CEO into two separate functions.


Effective January 1, 2013, Scott Sarber assumed the role of President of Petersen Hastings. Scott has a long history with Petersen Hastings as a shareholder and Vice-President. His role will focus on oversight of our annual strategic initiatives and the day-to-day operations of our organization.


My new role as Chief Executive Officer will be supporting Scott and the rest of the Executive Team, as well as focusing on business development opportunities for our organization.


While these internal role changes will allow our organization to continue to operate efficiently, our clients should not expect to see any significant changes. Current client/advisor relationships will continue, and clients can expect to communicate as they have in the past with their primary Petersen Hastings advisor.


We expect these new roles to allow Petersen Hastings to meet the service needs at the same high level our clients have been accustomed to as we continue to grow our organization. We know that we are only successful if we remain focused on our ongoing fiduciary duty to our clients. This includes always acting in our client’s best interest and managing client portfolios with equal focus on both risk and return. While we are very appreciative for our client loyalty, we also know that this is earned every day. We are thankful for this ongoing opportunity.