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Sometime in 2011, when Caldwell Trust Co. had around $500 million in assets under management, the firm held an offsite retreat with its 17 employees.
Kelly Caldwell, president and CEO, posed two questions: What do we need to change to accommodate growth? And what must we not change to keep doing the things that made the firm successful in the first place?
The answers, in summary, were to invest heavily in technology and people to create and use the technology. That includes a shift from outsourcing many technology and IT functions to having internal people do the work. It also includes refining and updating internal proprietary financial management software. In total, it's a long-term, high-six figure commitment to the company's growth, a big step for any small business.
“We're not GE, but were not a startup anymore,” Caldwell tells Coffee Talk.
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