David S. Coult, CFP®, CLU®, ChFC®, CPFA

David S. Coult, CFP®, CLU®, ChFC®, CPFA

President

David S. Coult - "The Business Owner's Wealth Manager"

coult1

When I was eight years old, I discovered the magic of combining two lifelong passions: business and fishing! My wonderful mother spent many dark, rainy nights outside holding a coffee can and a flashlight while I learned how to catch nightcrawlers I could sell to local anglers and supply my own fishing habit! I have never met a fish I didn’t like, from the salmon of Alaska to the peacock bass of Brazil, but I feel most at home fly-casting to trout on the creeks and rivers of Pennsylvania and New York. Whether a gurgling brook or the sound of the surf, I have always found peace on the water.

As a kid growing up, I found out that if I looked for a job in the yellow pages and started calling from “A”, there was generally work to be had. I delivered newspapers for Berks-Mont News, labored for Bratt Tree Company and Dane K. Masonry, and started my own landscaping business in college. I learned from early on how to recruit and manage a high-performance team!

coult2

I was raised to value continuous learning. I started kindergarten at 4 years old, skipped 4th grade, and no one was more surprised than my parents when I was named high school valedictorian at 16. I attended Bethel College for my undergrad and continued my financial education at the American College in Bryn Mawr, PA. My father is an optical engineer and Lehigh grad with multiple patents who has worked for AT&T Bell Labs, Infinera, and other tech companies. Education and the ongoing drive to learn remains a core value at our firm today and may be why we coult3work so well with engineers, business owners, and people who love to learn, solve problems, and overcome obstacles.

I started my career more than 25 years ago at a large financial services firm in Philadelphia and returned to the Lehigh Valley to found Milestone Financial Associates in 2003. Seeing the meteoric rise of health insurance costs, I developed two divisions of the company – one providing comprehensive wealth management for successful families and the other providing group health benefits. The health insurance business allowed me an inside look at well over 100 unique businesses.

coult4

I got to see how they delivered value to their customers, the impact a business’s culture has on team dynamics and performance, and levers they could pull to increase profitability. It is incredibly rewarding to help business owners set personal financial goals, develop leaders in their companies so they can spend more time on what matters most, and maximize, not just profitability, but net worth and passive income to them personally. My team and I have helped many business owners through transitions to next-generation owners, key employees, or outside sales of their company, and the transition to “what’s next” while working to ensure lifelong retirement security for their families. This is my passion, and I’ve been through it myself! I’ve founded or co-founded several successful businesses, take great pride in their success, and in 2009, I sold that health insurance division of Milestone Financial to National Penn Bank, now Truist. That successful exit allowed our team to have the freedom to be selective in working only with clients we like, for whom we believe we can have a meaningful impact. That was a game changer.

coult5

I’ve had my share of failures and disappointments as well. I am divorced and have lost several close friends, clients, and family members to cancer at young ages. As I reflect on the pain of those experiences, I realize that I am able to relate and have tremendous empathy for all who have suffered loss and who must now try to revise their financial plans for a future that seems impossibly different than the one they envisioned. I embrace widows, widowers, and divorcees in my practice.

The greatest joys in life are my three boys: Ben, Nate, and John. Over the years, the activities have evolved from sports practices and games to Boy Scout campouts, food drives, and hikes, to college visits and Penn State football games (where Ben attends)!

Dave and Son Boy Scouts

I am also passionate about The Wildlands Conservancy, a local organization working to conserve natural land, clean air, and water, and provide environmental education. I am a past Chair of their Board. I am also a past president of a local Rotary Club. Rotary is the largest service club in the world, working to eradicate diseases such as polio, and to provide food, clean water, shelter, and education to our friends and neighbors worldwide. Together with a group of fellow CERTIFIED FINANCIAL PLANNER™ professionals, I volunteer on the Kutztown University Personal Financial Planning Advisory Board, helping to guide young people entering the financial services profession.

Dave and Son Fishing

So now that you know a little bit about me, I’d like to learn more about you! How can our team at Milestone help?