ABOUT US

1930s

In 1932, during the depths of the Great Depression, with the Dow Jones Industrial Average below 50, Samuel Gofen and William Glossberg establish our predecessor firm of Gofen and Glossberg. Their vision then is the same as ours today—to help clients achieve their financial goals through wise investment guidance.

The firm becomes one of the first tenants in the Field Building, known today as the Bank of America Building.

IBM chooses predecessor firm of Gofen and Glossberg as a test company for its punch card improvements and starts to buy IBM stock.

1940s

With the enactment of the Investment Advisers Act of 1940, CI Gofen and Glossberg Private Wealth’s predecessor firm, Gofen and Glossberg, became a registered investment advisor. Americans generally rode the postwar wave of prosperity with investment portfolios that benefited from the rise of the middle class, greater demand for housing and automobiles, and the need for more infrastructure development.

1950s

Our predecessor firm, Gofen and Glossberg, celebrates its 25th anniversary. A third partner joined the firm. The S&P 500 Index began to trade in 1957, offering a new benchmark that represented the overall U.S. economy.

1960s

The American economy grew more reliant on information technology and began a move away from traditional industry and manufacturing—the beginning of the Information Age.

CI Gofen and Glossberg Private Wealth’s predecessor firm became a member of the Investment Counsel Association of America (now known as the Investment Adviser Association).

1970s

In 1972, the Dow Jones Industrial Average broke 1,000 for the first time, but a multiyear bear market soon sent stocks plummeting. OPEC drove oil prices skyward. Investors suffered through a decade of slow economic growth, high inflation, and weak markets. High oil prices drove a shift to alternative energy sources and a focus on new areas of energy exploration.

1980s

Fed Chairman Paul Volcker raised interest rates to 20%, sending the economy into recession but setting the stage for robust economic growth in succeeding decades. In 1982, our predecessor firm, Gofen and Glossberg, reached its milestone 50th anniversary and exceeded $1B in assets under management.

The Dow Jones Industrial Average fell more than 20% on a single day in October of 1987 but recovered fairly rapidly.

The firm relocated to the newly built NBC Tower.

1990s

The initial public offering of web browser company Netscape marked the beginning of the “dot-com” bull market of 1995–99. Technology stocks soared to extreme valuations amid the market exuberance. In 1999, the Dow Jones Industrial Average broke 10,000.

Assets under management for our predecessor firm exceeded $3B.

2000s

The market bubble burst in 2000, an early sign of a difficult decade for investors. Easy lending policies and limited regulatory oversight fueled a multiyear rise in housing formation and a spike in home prices. When housing prices declined, foreclosures rose, credit dried up, and the U.S. economy fell into a deep recession, with the stock market declining by more than 50%.

CI Gofen and Glossberg’s predecessor firm celebrated its 75th anniversary.

2010s

Ultimately, with significant assistance from the Fed, the U.S. economy turned the corner, and the stock market eventually reached new highs. CI Gofen and Glossberg’s predecessor firm marches into its ninth decade of success.

The S&P 500 Index broke 2,000 for the first time, and then 2,500. The Dow Jones Industrial Average reached 20,000.

Assets under management for predecessor firm grew to more than $4B.

Present

CI acquires the predecessor firm and it becomes CI Gofen and Glossberg Private Wealth.