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The Frederick News-Post Online - Frederick County Maryland Daily Newspaper
Next to doctors offices and suburban homes in Spring Ridge, a nationwide community is held together inside a small brick building.
The building, nestled off Md. 144, is Kramer Financial Inc., providing financial services to deaf and hearing people since 1985.
Started by Lee Kramer, the office is one of the few financial offices in the nation that caters to the deaf community.
"We offer full-range financial plan services, investments, insurance, financial planning (and) tax planning," said Lisa Dewing, the operating manager. Kramer Financial Inc. is licensed in 49 states as well as Washington.
Distinguished Tyser Teaching Fellow Susan V. White, a finance professor at the University of Maryland, full-service firms such as Kramer Financial Inc. are a growing trend.
The goal of the firm first and foremost is to provide premium financial services to the deaf and the hearing. But financial education for the deaf is also a primary goal.
It's difficult for deaf people to learn about financial subjects when using an interpreter, Dewing said.
Many deaf people go into a firm looking for advice and find themselves too worried about understanding the interpreter that they cannot concentrate on the content, Kramer said. "It's kind of like a French man having a Spanish-speaking adviser."
The firm consists of four deaf advisers; three of them work in the Spring Ridge office and the other works in the Austin, Texas, office.
Each of the advisers is usually responsible for a quadrant of the nation.
With deaf customers hailing from different parts of the country, it can be difficult to communicate long distances.
Traditionally, Kramer would travel around the country to meet face-to-face with his clients. "Back when I got into the business there were no videophones, no Internet; we were isolated."
In the past five years, the videophone has become a popular mode of communication. It consists of a camera that attaches to a television and allows one party to see the other, allowing the firm to use sign language and visual aids to teach customers about financial services.
Deaf clients' lights flash on and off to make them aware that they are receiving a videophone call.
"When we meet with clients, a lot of clients come in not understanding what they need É we really try to make education a big part of (our process) we have a lot of visual aids É when people leave ... our goal is to have them leave with complete understanding," said Stephanie Summers, a registered representative at the company.
Besides videophone, e-mail is an easy medium for communication with deaf customers. Kramer Financial also uses a TTY machine, which sends text over the phone lines for deaf users to read.
"The TTY is basically obsolete É it rings about twice a week É but before videophone it would ring about 10 times a day," said Dewing who also serves as an interpreter for the company.
Despite the recent economic downturn, business is good for Kramer Financial, Dewing said. "We are doing well all things considered."
But, a lot of clients took a hit.
"The market does not discriminate against the hearing or the deaf," she said.
Dewing attributed the good business to the niche market that Kramer Financial Inc. has carved out in the deaf community.
Kramer was born into a deaf family -- both of his parents and his sister are deaf and he has one hearing brother. He originally wanted to be a doctor, but soon realized the deaf community did not have much knowledge in financial planning.
"I would ask my parents financial questions and they could not answer me. I realized there was a huge gap, and I made it my mission to bridge that gap," Kramer said. He changed his career path and received an MBA from Northeastern University.
Kramer started his business in Boston and it quickly grew. "The deaf community is very close-knit É we are built mostly on referrals."
He moved to the Frederick area so his children could attend the Maryland School for the Deaf, where many of his clients come from.
Kramer Financial Inc. also works with the deaf community outside the office. The firm holds financial workshops for deaf people in the community and sponsors charities.
Next to doctors offices and suburban homes in Spring Ridge, a nationwide community is held together inside a small brick building.
The building, nestled off Md. 144, is Kramer Financial Inc., providing financial services to deaf and hearing people since 1985.
Started by Lee Kramer, the office is one of the few financial offices in the nation that caters to the deaf community.
"We offer full-range financial plan services, investments, insurance, financial planning (and) tax planning," said Lisa Dewing, the operating manager. Kramer Financial Inc. is licensed in 49 states as well as Washington.
Distinguished Tyser Teaching Fellow Susan V. White, a finance professor at the University of Maryland, full-service firms such as Kramer Financial Inc. are a growing trend.
The goal of the firm first and foremost is to provide premium financial services to the deaf and the hearing. But financial education for the deaf is also a primary goal.
It's difficult for deaf people to learn about financial subjects when using an interpreter, Dewing said.
Many deaf people go into a firm looking for advice and find themselves too worried about understanding the interpreter that they cannot concentrate on the content, Kramer said. "It's kind of like a French man having a Spanish-speaking adviser."
The firm consists of four deaf advisers; three of them work in the Spring Ridge office and the other works in the Austin, Texas, office.
Each of the advisers is usually responsible for a quadrant of the nation.
With deaf customers hailing from different parts of the country, it can be difficult to communicate long distances.
Traditionally, Kramer would travel around the country to meet face-to-face with his clients. "Back when I got into the business there were no videophones, no Internet; we were isolated."
In the past five years, the videophone has become a popular mode of communication. It consists of a camera that attaches to a television and allows one party to see the other, allowing the firm to use sign language and visual aids to teach customers about financial services.
Deaf clients' lights flash on and off to make them aware that they are receiving a videophone call.
"When we meet with clients, a lot of clients come in not understanding what they need É we really try to make education a big part of (our process) we have a lot of visual aids É when people leave ... our goal is to have them leave with complete understanding," said Stephanie Summers, a registered representative at the company.
Besides videophone, e-mail is an easy medium for communication with deaf customers. Kramer Financial also uses a TTY machine, which sends text over the phone lines for deaf users to read.
"The TTY is basically obsolete É it rings about twice a week É but before videophone it would ring about 10 times a day," said Dewing who also serves as an interpreter for the company.
Despite the recent economic downturn, business is good for Kramer Financial, Dewing said. "We are doing well all things considered."
But, a lot of clients took a hit.
"The market does not discriminate against the hearing or the deaf," she said.
Dewing attributed the good business to the niche market that Kramer Financial Inc. has carved out in the deaf community.
Kramer was born into a deaf family -- both of his parents and his sister are deaf and he has one hearing brother. He originally wanted to be a doctor, but soon realized the deaf community did not have much knowledge in financial planning.
"I would ask my parents financial questions and they could not answer me. I realized there was a huge gap, and I made it my mission to bridge that gap," Kramer said. He changed his career path and received an MBA from Northeastern University.
Kramer started his business in Boston and it quickly grew. "The deaf community is very close-knit É we are built mostly on referrals."
He moved to the Frederick area so his children could attend the Maryland School for the Deaf, where many of his clients come from.
Kramer Financial Inc. also works with the deaf community outside the office. The firm holds financial workshops for deaf people in the community and sponsors charities.