For Ken Kohlmaier, CFP, J.D., ’73, P’05, P’16, it’s personal—family (including two daughters who are F&M alumnae), alma mater, personal finance and business.
Kohlmaier and his wife, Susan, recently established a flexible charitable gift annuity (CGA) with Franklin & Marshall College. Their annuity payments will be deferred for a few years, and then will provide a stream of income for the rest of their lives. The remainder proceeds will benefit the Department of Government.
The gift is “practicing what I preach,” Kohlmaier says. For the past 35 years, he has owned a private wealth management practice in Lancaster and one of the vehicles he sometimes suggests to his clients is a CGA. He credits Franklin & Marshall College with giving him the background, and the support, to own his own business and to be a success, both professionally and personally.
“Franklin & Marshall College rounded me out as an individual,” he says. “I was in a fraternity (Phi Kappa Tau), I worked, and I was a percussionist in the band, under John Peifer ’36. When I got out of law school and was working for AMP, and I wasn’t sure what I wanted to do with my life, I contacted one of the administrators I knew, O.W. Lacy. The OWL helped me think through my strengths and decide what I wanted to do.”
Kohlmaier began in the financial planning field when it was in its infancy. Long hours and hard work paid off, and years of “putting the client first” have increased the success of his business.
The charitable gift annuity the Kohlmaiers have established was funded with appreciated stock. “There are tax advantages for doing it that way,” Kohlmaier says.
And why a charitable gift annuity instead of just an annuity?
“F&M gave me the best four years of my life,” Kohlmaier says. “It was a great experience; I had four wonderful years. Two of my daughters (Kimberly ’05 and Keri ’16) graduated from F&M. And the education I received from the government department was exceptional.”
To learn more about making a gift that will also create income for you or a loved one, please contact Mary Ann M. Cooke, J.D., '90, at mcooke@fandm.edu or 717-358-4821.