Q&A with president of CB&T Wealth Management in Colorado Springs

Steven Condon, president of CB&T Wealth Management, moved to Colorado Springs in 2001 to work for Ron Johnson at The Corundum Group. In 2006, Condon and Johnson merged The Corundum Group (and Corundum Trust Co.) with Classic Mortgage and Classic Title to create Central Bancorp and its affiliates, including CB&T Wealth Management.

Central Bancorp also plans to open a banking division by the end of 2007, called Central Bank & Trust, but still needs approval from the Federal Deposit Insurance Corp. and the Federal Reserve Bank.

Condon took time recently to tell the CSBJ about himself and his company.

Organization: CB&T Wealth Management, a division of Central Bancorp

Positions: President

Hometown: Wayzata, Minn.

How long have you lived in Colorado Springs: Six years

Education: Bachelor's degree in business administration, University of Minnesota; master's degree in business administration, Carlson School of Management, University of Minnesota

A few words about your company: CB&T Wealth Management provides an integrated approach to all aspects of family wealth management, including comprehensive investment strategies, assertive tax and estate planning, multi-generational wealth transfer and trust services through our affiliate CB&T Trust, and risk management and insurance procurement. With more than $1 billion in assets, we are one of the largest registered investment advisors in Colorado Springs.

Recent Accomplishments: CB&T recently acquired Rainsberger Wealth Advisors. RWA brings to CB&T exceptional people and gives us stronger tools and resources as we expand our wealth management practice.

Biggest Career Break: Moving to Colorado Springs to work with the Corundum Group in 2001.

Toughest part about your job: Keeping up with all of the evolving income, capital gains and estate tax issues is a constant challenge.

Someone you admire: My parents -- I rely heavily on the foundation they gave me in respect to how to treat others, how to work hard and to never stop learning. As a group, I also admire entrepreneurs -- those who have a vision to build something great and then actually take the risk to make it happen.

About your family: I'm blessed to have married my high school sweetheart and best friend, Karen, and we have three children, Katie, 14; Samuel, 12; and Christopher, 8.

Something else you would like to accomplish: I very much am looking forward to growing our business and helping to make Central Bancorp a strong player in the financial services sector in Colorado.

How will your business change in the next decade? Successful wealth advisers will need to take a holistic approach to financial counseling that extends beyond traditional asset allocation, money management and retirement planning. Effective inter-generational wealth transfers and multi-generation financial education will be just a few of the new benchmarks for premier wealth management firms in the future. What keeps clients awake at night is not how one particular stock performed that day; rather it's how they will maintain their family's financial security through many generations.

What book are you currently reading? "Family Wealth -- Keeping It in the Family" by James E. Hughes Jr. It's an insightful read that goes beyond the financial aspects of family wealth and touches on issues of character, self confidence and respect for the value of work.

What is the one thing you would change about Colorado Springs? We need to improve the ability to travel to the east coast. Direct flights to Washington, New York and other east coast financial hubs would be incredibly helpful in conducting business in Colorado Springs.

Copyright 2007 Dolan Media Newswires
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