Financial advisor and investment counselor Tom McGlone is helping his clients invest in Rehoboth. Not exclusively, of course, but thanks to a new program, with every investment they make, money can come back to Rehoboth Beach as well.

In a program called "Let’s Invest in Rehoboth," the McGlone/Lusco Financial Advisory Group will donate a portion of the fee charged to clients for managing their money. Tom has it structured that clients can request a portion of the management fee to go to The Rehoboth Historical Society, Rehoboth Beach Main Street or CAMP Rehoboth.

That way, no matter what kind of investment the clients choose, whether it’s stocks, bonds, annuities or mutual funds, they will also have the opportunity to be investing in Rehoboth Beach.

"I was working on some accounting for the Historical Society," says Tom and I saw the need for funds for Rehoboth non-profits. I knew we were interested in finding a way to give back to the community as well as building our business here. This program seemed like a perfect fit."

Tom’s interest in the community started much like most Rehoboth fans. "I read about Rehoboth in the Washington Blade, back in the mid-1990s. He and his partner Andy, and their two Jack Russell Terriers started coming here and staying at the old Sand In My Shoes B&B. "It was one of the few places where we could bring the dogs."

Tom remembers that back when they first came to town, the winter in Rehoboth was desolate.

"Nothing was open but Grotto," Tom says.

As often happens, the guys fell in love with the openness of the community and appreciated the friendships they made here. Rehoboth vacations turned into weekends and then Tom and Andy purchased a home here in 2002. Now Tom is looking toward transferring his investment business to Rehoboth.

He works at Wachovia Securities in Baltimore, but spends one or two days a week here in Rehoboth developing local business. By January, he hopes it will be the reverse, with most of his time spent at the beach and only a day or two each week in the city.

As for "Let’s Invest in Rehoboth," Tom explains that since the investment business is all about relationships, building a client base while giving back to the community is a win-win project. He’s quick to point out that since he and his business partner Craig Lusco don’t work on commission, they do not have a vested interest in selling any particular financial product.

"People can come in for a review of their portfolio and see if it’s a good fit. If we wind up managing the portfolio, then they can designate which of the organizations will receive a portion of the management fee.

"It’s really very simple. We provide opportunities for our clients to invest their funds in a manner that helps them achieve their real-life goals. The community is a major factor in our clients’ well-being, and we recognize this connection. To help our clients and to support the community, we will donate 50 percent of our net fee income to three non-profit organizations dedicated to the improvement of Rehoboth Beach."

According to Tom, when an individual or organization opens a new account, or transfers one in from another financial institution, they are asked to provide the name of the Rehoboth Beach charity that they would like to support. Each calendar quarter, a check is given to the designated charitable organization on behalf of the client. With no additional sacrifice to the client, a charitable contribution is created that would not otherwise exist. Donations to the charities will be ongoing, and as an account increases in value, so will the amount of the donation.

While McGlone/Lusco has only been working in the Rehoboth area for less than two years now, they are already managing over $10,000,000 in assets in Sussex County.

"It’s especially important for gay and lesbian investors to have a financial advisor who can advise them on the tax implications and benefits for domestic partners. It can be very different than planning for traditional families. You need to think about life goals so we can help put together just the right plan for you. There are specific things that gay people should be doing when it comes to investing and planning for the future."

While trying to boost his local business and generate income for Rehoboth organizations, Tom is getting his name out in a host of ways. He’s already conducted one financial seminar for CAMP Rehoboth and was the first male workshop presenter at the recent CAMP Rehoboth Women’s Conference.

In addition, every Sunday from noon to 1 p.m. you can hear Tom and Craig on the air on WGMD radio with their show "Let’s Talk Money." Starting with strains of Pink Floyd and the song Money, these two financial guys are wonderfully relaxed and informative as they dole out friendly advice to callers.

"It’s fun to be in the studio and on the air," says Tom, "and you never know what kind of questions you’ll be asked. It’s challenging and enjoyable."

So how is the program going so far? "It’s taking off," says Tom. Several new clients have already taken advantage of a financial review and by investing have been able to raise some money for the non-profits.

"Give us a call and we can start putting a plan together for you," says Tom to Letters readers. If you like the way we do business, the personal service we provide and the suggestions we make, you can choose to invest with us and start raising money for Rehoboth."

An added benefit is the generosity of Wachovia Securities. Initially, in terms of referrals under this program, the company will also match donations up to 8 percent a year. For that reason there’s even more incentive to check out the "Let’s Invest in Rehoboth Program."

Steve Elkins, Executive Director of Camp Rehoboth, said, "Let’s Invest in Rehoboth Beach is a very creative concept and we want to thank both Tom McGlone and Craig Lusco for allowing Camp Rehoboth to benefit from this idea. I look forward to working with them in the years to come."