July 13, 2013
Michael Maye '87 CBA firmly believes in Thomas Jefferson's historic admonition to "Never put off till tomorrow what you can do today."
As a Certified Financial Planner, he is committed to working closely with his clients to ensure that the decisions they make today will guide them along the best path to financial stability in the years to come.
Maye is the Founder and President of MJM Financial Advisors, LLC, which specializes in advising individuals on tax planning, investment management and estate planning. For this dedicated professional, however, that's where the similarity between his and other firms comes to an end.
Trusted by Clients For His Honesty
"I'm considered a fiduciary to my clients," he says, "and so my firm and I are held to a higher standard. I do what's known as fee-only planning, meaning that I don't work on commission like many other financial planners, who are usually transaction-based.
"My product is myself and my advice, so I can choose the solution that's right for my client rather than one that will provide me with a substantial commission. That's a better business model for me, because it's conflict-free. My business philosophy is as much about making a difference as it is about making a living."
Goes Back to St. John's
Maye began his career after graduating in 1987 with a B.S. in Accounting from St. John's University College of Business Administration. Although he later earned his M.B.A. in Finance: Investment and Portfolio Management at Pace University, he credits St. John's with providing him with his entrance into the world of financial planning.
"Graduating from St. John's enabled me to go to work for Peat Marwick, one of the Big Eight accounting firms at that time," he says. "My St. John's degree allowed me to get that position, which became the foundation for everything that came after. I definitely believe that my education at the University was the key factor in everything that I've been able to achieve up to this point."
More than simply providing him with a superior education, his time at St. John's gave Maye a sense of the importance of reaching out to others, a commitment that remains as much a part of his life as anything he learned in class.
Volunteering His Time
As a member of the National Association of Personal Financial Advisors and numerous other professional organizations, he regularly spends time doing pro bono work. One such initiative is his yearly visit to a group of divorcees, widows and others in transition, spending a few hours to help them examine their current situations so that they can wisely plan for their futures.
That sense of giving back also extends to Maye's continued affiliation with St. John's. He is the type of alumnus who is always eager to do what he can for the students, programs and mission of the University. For him, it all comes down to acknowledging what was done for him during his own days as an undergraduate.
Instead of Just Writing a Check
"I like to stay engaged and involved with the University so that others will have the same opportunities to succeed as I did," he said. "St. John's was such a key factor in my success that it's important to me to stay connected in any way that I can. I've spoken to student groups such as the Finance Club and I've also participated as a panelist at "Meet the Experts" events to help alumni with the most current information about financial planning.
"I don't just want to stay connected by writing a check. That's important, of course, but it's not enough for me. I want to do more. I truly believe that everyone needs to give back. That's my personal philosophy as well as that of my firm, and I'm sure it always will be."
If you're interested in telling your St. John’s story, please contact Kathleen Mannion, Assistant Director of Gift Planning at 718-990-5312 or [email protected].