The Interesting Side of MIG
I am often asked “Why did you decide to work for the Morgan Investment Group? What motivated you and are you happy you made the move?” The easy answer is that a good friend recommended me to Peter Morgan for a position on the Morgan Franklin Fellowship Foundation (“MFF”) Board. From there, I began providing legal services for MFF and ultimately all of the Morgan entities. Once I became further involved, I started to understand that the Morgan Investment Group (“MIG”) has several components – one non-profit entity and multiple divisions that hold varied investment assets. Most importantly though, I began to see that all of these components are built on a single fundamental principal. A principal that began with MFF and has become the driving force behind all of MIG. MIG may be a multi-faceted organization, but it is actually circular in nature and vision.
MFF is the philanthropic arm of MIG. It is an online financial literacy program with a mission to provide people of all ages with the tools, information, and resources they need to become financially independent. The philosophy begins with the well-known fact that our educational system does not really teach us how to understand finance, even in its simplest of forms. Yes, most of us can add and subtract, but understanding a balance sheet, profit and loss statement or net worth analysis is typically outside the range of what most people understand. Particularly the usefulness of that information to us in our own personal lives. MFF provides this education in a straightforward easy to use program. Even better is the fact that once you enter the MFF fellowship you find that many other resources are available to you. Resources and continued advice and counsel that will help you navigate your financial future.
I have personally traveled through the course and, once a very “sluggish” budgeter without a very well-defined financial plan, I am now on much stronger financial ground. While, admittedly, I still struggle with some of this, being a part of this organization has certainly put me on a better path to financial independence.
For me, this is where the circle begins – with the notion of becoming financially independent being the consistent thread throughout MIG.
MLP is our operating company, holding and managing most of MIG’s assets. This is, of course, where we make our money, but it is also an extension of MFF’s mission. Here’s how.
MLP owns seven mobile home parks. When purchased they were underdeveloped and distressed. We have worked hard to upgrade the parks, turning them into accessible, better quality affordable housing. Our end game here is for tenants to own their own unit and ultimately join their neighbors and own the park in its entirety, managing it collectively through a homeowner’s association. So, while making the investment and collecting income in the interim, we are also providing the opportunity for financial independence and home ownership to those who may have never imagined that possibility.
SGS Property Services, LLC is the property management division of MLP. Historically, we have managed our residential parks through SGS. We now are transitioning into managing our commercial assets as well. Not only is this a cost savings, but it also provides better communication with our tenants, allowing us to respond more quickly to maintenance issues and other tenant concerns, ultimately solidifying those relationships. We have found that developing trust with our tenants is the first step in helping them advance their financial future.
The theme of encouraging financial independence, continues through our GIT Going, LLC. This is a division providing consultation services to entrepreneurs who need help getting a great idea going. To date we have helped over 25 small business owners and entrepreneurs either launch their business or expand their projects. This is supported by our drive to help community business owners become financially independent. Look for more information about GIT Going, LLC soon.
That is just a snapshot of the MIG organization. Nonetheless, it clearly shows that the underlying intent to support financial literacy is present through all divisions of MIG and is a significant part of what makes the company stand out. Our image as a “for profit” investment company is balanced by our philanthropic commitment to encourage financial responsibility in both individuals and their communities. For me, this is a rare opportunity to work with like- minded people who are motivated by both propositions.
So, my answer to the original question is yes! I am very happy that I made the decision to join MIG and I am fairly certain that my colleagues are as well.