The Monteverde Group, Jacobson Associates' merger provides specialized financial services

A recent merger between two of Pittsburgh’s most established financial services firms — The Monteverde Group and Jacobson Associates — offers comprehensive financial services and employee benefits advising, as well as management for families and businesses.

The two firms combine more than 50 years of collaborative professionalism between longtime friends James Monteverde of Sewickley Heights and Blair Jacobson of Shadyside.

The merger was made official last October and the firm handles just under $1 billion of assets.

The man behind the Monteverde name is founder, president and CEO James Monteverde, who graduated from Fox Chapel Area High School in 1966 and with a finance degree from the University of Dayton, but found employment difficult.

“It was the 1970s, and the war was raging. I really couldn’t find a job. Unless you were in med school, law school, getting married or going into teaching, you were in the draft. So that’s where I was, ” said Monteverde, 77, of Sewickley Heights.

Monteverde began working in the life insurance business in 1970, selling insurance to students at Carnegie Mellon University while dressed in bell-bottoms and fresh out of university.

“I really enjoyed the freedom it gave me and I enjoy people,” he said.

Joyce Hanz | TRIBLIVE

Monteverde Group CEO and President James Monteverde of Sewickley Heights in his office located inside One Gateway Center.

Monteverde was ultimately not drafted, the war ended and he remained in the insurance business.

In 1974, Monteverde opened his own firm, The Monteverde Group. Jacobson Associates opened in 1961.

“I was always self-employed and I liked it. It was risky and scary, but I enjoyed it,” said Monteverde.

Monteverde is located on the 20th floor in One Gateway Center in Downtown Pittsburgh.

The office offers multiple conference rooms with sweeping views of Pittsburgh’s North Shore, including Acrisure Stadium.

“I’ve always loved working in the city. Everybody kind of knew of each other and we would walk everywhere (pre-covid),” Monteverde said.

Looking to provide a one-stop shopping business model for all of his clients’ needs, Monteverde expanded into wealth management, assembling a “dream team” of professionals that includes managing partner and chief investment officer Craig Shensa of Fox Chapel and Jacobson Associates’ president Larry Jacobson of Squirrel Hill.

Monteverde assembled a group of native Pittsburghers to solidify the merger.

“People want to know how much you care. This industry is trust-related,” said Monteverde, adding the firm is licensed to practice in 34 states.

Monteverde has a staff of 16 with a second office in Wheeling, W.Va.

Pittsburgh proud

Jacobson described Pittsburgh as a ‘small town’ and placed great emphasis on treating clients with integrity and trust.

“A firm like ours doesn’t survive for decades in this city without doing right by people, all the time,” Jacobson said.

Shensa and Jacobson both graduated from Shady Side Academy in Fox Chapel and are both friends and professionals committed to prioritizing client needs.

Services for individuals include wealth management, retirement preparation, estate and legacy planning and insurance design.

Business services include comprehensive corporate benefit solutions, group life and disability plans, dental and vision coverage, voluntary benefits, benefits and human resources administration, compliance and regulatory support and payroll.

Other equity partners include Daniel Martin, Wendy Astorino, Blair Jacobson and Ryan Duchak.

Larry Jacobson, 56, of Squirrel Hill, is an expert in the employee benefits industry and follows in the footsteps of his father, Blair Jacobson, 85, and still active in the firm.

“The personalities involved. We’re all marching in the same direction,” Larry Jacobson said.

Teamwork is the bedrock of the firm’s professional work environment.

“Jim and I formed a partnership and I started our investment committee. We manage money for people as a team,” said Shensa, 53.

The newest division within Monteverde Group is employee benefits, a realm that can be overwhelming for some business owners.

“Navigating the world of corporate employee benefits has only become more complicated and convoluted,” Jacobson added.

In Pennsylvania, businesses with 50 or more full-time equivalent employees are required to provide employee benefits.

Long-term care is another sought-after element of financial planning, and Jacobson brings expertise in that area.

“It’s really about holistic financial planning services,” Monteverde said. “Now, having the expertise here, it’s a huge benefit for any business owner and we are completely independent of anyone. When I first started, you had to contract with a specific company. We are independent, not hooked into any one company. We don’t play any of those games. Money to us is a way of keeping score and if we do the right job for our clients, we will get maximum compensation, but more important to us is getting to the next client because we have referral business.”

Monteverde Group vice-president Adri Bleier met Shensa through their son’s mutual soccer team.

“I have no interest in treating people like numbers. I want to help people where I can,” said Bleier, 48, of Fox Chapel.

Bleir is a specialist helping businesses and individuals navigate the 401 (k) world.

“Our philosophy is servicing our clients to the best of our ability. We have specialists in all areas of financial planning and we come together as a team to do everything we can to service our clients,” Shensa said.

The team enjoys games of pickleball together and all are family men, busy coaching their kids’ sports teams.

“We are all in the same boat with high school, soon to be college and we are all about family,” Shensa said.

For Monteverde, retirement isn’t on the table.

“I plan not to,” he said. “We work as a team.”