Tim Carneval, CPA, CFP, MST
Westlake,OH
Summary
Results-oriented Director and Client Advisor with comprehensive expertise in wealth management, financial planning, and business development
Overview
36
36
years of professional experience
Work History
Director & Client Advisor
MAI Capital Management, LLC
Independence, OH
12.2011 - Current
- Oversee $310M in AUM via strategic planning initiatives for investment management and client engagement.
- Develop customized wealth management plans for high-net-worth clients.
- Advise clients on tailored investment strategies to meet individual financial goals.
- Conducted regular performance reviews, recommending adjustments as necessary.
- Educate clients and their family members on wealth preservation, tax-efficient investments, and retirement solutions.
- Manage multiple projects efficiently while adhering to deadlines.
- Provided expertise in estate planning, insurance solutions, and charitable giving.
- Assist clients in formulating long-term financial objectives and risk management strategies.
- Member of the E-Money RIA Advisory Team 2012-2016 out of their office; setup and implemented E-Money as the primary financial planning tool at MAI Capital Management
- Guest speaker to student athletes and school advisors on tax, investment and wealth planning initiatives.
Vice President and Director
FSM Capital Managment, LLC
Cleveland, OH
07.2007 - 12.2011
- Served as client and family CFO to approximately 35 families, overseeing $140M in AUM.
- Advised on tax, investment. insurance, estate planning matters
- Responsible for new business development and also overseeing existing relationships
Startup Founder / President
Persimmon Global Advisors
Westlake, OH
09.2001 - 07.2007
- Founder of my own wealth advisory business from 2007-2011
- Created a book of business of approximately $60M in AUM and with 22 clients
- Started using E-Money and also Naviplan in 2008/2009 to create financial plans for clients and to help simply their financial lives
- Managed client investment portfolios using Morningstar Advisor and Fidelity as the main custodian.
Vice President / Client Advisor
Shaker Investments, INC
Cleveland, OH
03.2001 - 09.2001
- Advised on client investment portfolios and financial planning
- Responsible for investment implementation and asset allocation
- Organized and ran client meetings with my clients as well as my manager's.
Vice President & Wealth Advisor
IMG / Investment Advisors International
Cleveland, OH
01.1996 - 03.2001
- Worked in the Wealth Advisory Division with both executive and athlete clients.
- Oversaw tax filing and preparation or approximately 80 clients to start
- This lead into a client-facing advisory role from 1997-2001
- Responsible for tax planning, investment and overall wealth planning
- Client acquisition, business development, and marketing
- Along with two others, we created client financial plans that ended up being implemented firm-wide (600 clients total)
- Member of the company client advisory team, which was responsible for setting up processes and steps for on-boarding and servicing clients.
Senior Staff - Tax Advisory Group
Arthur Andersen & Co
Washington, District of Columbia
09.1993 - 01.1996
- Prepared / Reviewed Individual and S-Corp tax returns for executives and their families from companies such as Exxon-Mobil; Microsoft, AOL, HP, and Mars Candies to name a few.
- Completed quarterly tax estimate calculations.
- Prepared / Reviewed Gift and Estate Tax returns.
- Prepared for an attended Family Office meetings for HNW families, presenting the tax side of their overall planning.
- Helped clients to create a budget and to also on-board them onto AA's wealth planning software, which was one of the industry's first, in LifePlan.
- Analyzed client investment portfolios for risk and asset allocation but gathering their statements and using software from Callan and Associates to produce reports
- Created client proposal presentations and attended such meetings, with the goal of obtaining new business.
Staff Auditor
Coopers & Lybrand
Cleveland, Ohio
08.1989 - 08.1990
- Analyzed financial statements to identify discrepancies and areas of improvement.
- Reviewed internal controls to ensure effectiveness and mitigate risks.
- Developed audit reports summarizing findings for management review.
- Facilitated meetings to discuss audit results and recommendations with stakeholders.
- Analyzed data to ensure accuracy of financial records.
- Identified areas of operational improvement and potential cost savings.
- Performed detailed accounting reconciliations.
- Reviewed client financial statements and identified discrepancies.
Education
MS - Accounting and Taxation
University of Virginia
Charlottesville, VA12-1994
Bachelor of Science - Accounting
University of Maryland, College Park
College Park, MD05-1989
Skills
- Individual and Entity Tax review and prep experience
- Estate Planning background
- Investment portfolio / asset allocation creation and implementation
- Overall family and individual wealth advisory services
- Client acquisition and marketing
- Client facing
- Team leadership
Affiliations
I enjoy golfing, coaching my son's teams in basketball, bike riding, going to the Westlake Rec Center, reading and studying financial markets, and astronomy.
Timeline
Director & Client Advisor
MAI Capital Management, LLC
12.2011 - Current
Vice President and Director
FSM Capital Managment, LLC
07.2007 - 12.2011
Startup Founder / President
Persimmon Global Advisors
09.2001 - 07.2007
Vice President / Client Advisor
Shaker Investments, INC
03.2001 - 09.2001
Vice President & Wealth Advisor
IMG / Investment Advisors International
01.1996 - 03.2001
Senior Staff - Tax Advisory Group
Arthur Andersen & Co
09.1993 - 01.1996
Staff Auditor
Coopers & Lybrand
08.1989 - 08.1990
MS - Accounting and Taxation
University of Virginia
Bachelor of Science - Accounting
University of Maryland, College Park