The foundation of what is today Cornerstone Wealth Management began back in 1963 when David Gomersall created a financial accounting and income tax practice in Westlake, Ohio. He served many individuals, business owners, and corporate clients.
As his CPA practice grew and matured, the firm's clients accumulated wealth and investible assets and needed a high level of investment management and financial planning.
The firm's clients were not satisfied with the traditional brokerage and financial institutions. They were looking for unbiased advice in the areas of retirement planning, investment planning, income tax planning, and estate planning. These high net worth individuals looked to their CPA to provide guidance and assistance. To answer this demand, David’s CPA practice expanded its service offerings to include advice in these areas.
By the end of 1996, David was managing a group of clients that had accumulated more than $10 million in Assets Under Management and formally registered with the Securities & Exchange Commission as a Registered Investment Advisor.
In 2003, David sold the accounting and tax practice and started what is now Cornerstone Wealth Management.
By the time that the practice was fully up-and-running, the team had 2 full-time advisors and 3 additional professional staff members. The firm had immediate success, raising its Assets Under Management to nearly $38 Million.
Over the past 14 years, the firm has grown by two more professional advisors and now serves 125 to 150 families and businesses and are now managing assets in excess of $190 Million.
Moving into the future, Cornerstone plans to continue to serve and assist families and businesses to meet their investment management and financial planning needs, establishing itself as a firm that people can go to and receive true, unbiased advice on the important financial matters in their lives.