Fall 1999

Raymond Bree and Rob Siegfried share more than recognition as "Small Business ? ?Person of the Year" from the New Castle County, Del., Chamber of Commerce--Bree in 1998 and Siegfried in 1999.

The two College of Business and Economics graduates are also childhood friends who have put to work their entrepreneurial spirits, strong sense of commitment and mutual love of golf to benefit their local community and charitable organizations.

The founder and president of Diamond State Financial Group, Bree, a 1978 graduate in operations management, started his financial planning and services firm in 1989, after 11 years at the Wilmington Financial Group. The business today employs 10 associate financial planners and six staff members. Those who know Bree attribute his success to his vision and his high expectations. Diamond State's associate planners have been in the top 5 percent in sales for the industry year after year and have enjoyed trips and other rewards that acknowledge their achievements.

The reason for this success, stresses Bree, is client relationships. "We stay in close contact with our clients and are sensitive to their needs and expectations," he says. "Small- to medium-size companies are the core of our business, but we work with individual clients as well. We want them to set goals by thinking about what is important to them, where they are going and how they are going to get there. Often, we are involved in protecting family businesses, and sometimes we are advocates for people who don't have advocates."

Bree's firm is celebrating its 10th anniversary this year, and its way of thanking clients reflects Bree's philosophy of helping people. "We invited clients to become CPR-qualified and possibly make a real difference in someone else's life," he explains. "In July, we sponsored an evening class where they could train with Red Cross instructors for CPR certification. We are also planning a wine tasting for clients in the fall that will be a fund-raiser to benefit the Make-A-Wish Foundation."

Keeping in touch with his alma mater is also a priority for Bree. Twice a year for the past eight years, he has visited the "Sales and Marketing Management" class currently offered by instructor Sandy Fields. "Sandy's class is terrific," says Bree. "She brings in six or seven different speakers from different areas of sales and marketing to give students a real feel for what it's like out there in the business world. I try to stress to the students what a great opportunity they have at the University of Delaware. They get an excellent education, and the business college has an outstanding reputation in the business community. The College's Career Planning and Placement Office does a great job of preparing young people to interview, and they get a huge number of businesses to come in to meet with students."

Diamond State Financial Group offers a partial scholarship annually to a junior from the region who is studying sales and marketing. "It's a small way to give a good student an opportunity and some financial help," Bree says.

He says he enjoyed the experience of being New Castle County's Small Business Person for 1998. "I had companies ask me to be a sounding board as they struggled with experiences similar to mine," he says. "I met a lot of people I wouldn't have had the opportunity to meet otherwise, and it was a very rewarding experience."

This past May, Bree had the pleasure of passing on the title to his friend, Rob Siegfried. A 1981 graduate in economics and accounting, Siegfried is founder and CEO of The Siegfried Group, parent company of three subsidiaries that offer accounting and financial consulting to the middle market and talented variable resources to the Fortune 1000. Like Bree, Siegfried focuses on developing close relationships with his clients and helping them attain their goals.

"I began my business as a CPA firm in 1988," explains Siegfried. "Many times I met with owners of small or medium-sized businesses that were growing fast and making money, yet were short of cash. These clients had started their businesses to achieve a better life, but they were under considerable stress. I learned that they needed some basic financial tools--a well-conceived business plan, forecasts and cash-flow management. From that, Siegfried Consulting, our second business, was born.

"Our belief is that numbers aren't everything. People are also looking for peace of mind and emotional gratification. They want to know where they are headed in the future. It is important to factor that variable into the business plan. Profits plus cash plus self-actualization equal peace of mind and emotional gratification. Helping clients balance that equation is the business we are in."

With success in the CPA and consulting businesses, Siegfried's organization was approached by a Fortune 1000 company that sought to "borrow" a financial professional for a year-long project. This was the start of a third enterprise that provides what Siegfried calls "variable resource services." The company provides its own financial professionals to Fortune 1000 companies to fill short-term positions. This has grown to be about 35 percent of The Siegfried Group's business today.

Siegfried's successful approach to business grows out of his UD background. After enrolling in the accounting program, he found himself drawn to economics. He pursued both interests and graduated with a double major. As one economics professor pointed out to him recently, that dual focus is unusual because accounting looks at what has happened in the past, while economics looks to the future. "The professor was describing exactly what my company has become," says Siegfried. "We look at our clients' past to help them get their financial picture in order, and then we help them explore future opportunities to better realize their potential and find that peace of mind.

"Making people feel better is a rewarding thing to do. It's providing a win for our clients and for our firm and its owners, its employees and all its stakeholders."

Throughout his career, Siegfried also has maintained an interest in recruiting. Before starting his business, he was the director of recruiting for Ernst & Young and led their efforts at the University of Delaware. Later, as a member of the Delaware Society of CPAs, he formulated a plan in which local firms came together to market themselves to UD graduates. "Together, local businesses have the hiring power of one of the Big Five firms. We needed to establish our presence and participate in recruiting activities with the same frequency as the larger firms," he says

Like his friend Bree, Siegfried says his award gives him a chance to make new acquaintances throughout the Delaware business community. And what about the two winners' love of golf? They have turned that passion into a means of raising money for a favorite charity.

As board members of the Make-A-Wish Foundation, the two helped launch the organization's annual golf tournament in 1996, raising an unprecedented $33,000. Last year, the tournament raised more than $77,000, and they are aiming for $100,000 in 1999.

Both entrepreneurs stress the importance of giving to one's community, and they encourage their employees to participate actively in civic and charitable groups.