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The Rhode Island Small Business Journal is a printed monthly magazine and an online resource for the aspiring and start-up entrepreneur and small business owner.


RISBJ Staff's Featured Content

Carolyn Tadamala joins Spinnaker Asset Management

She comes to the financial services company with a world of  experience. 

In helping to build a solid foundation for their continued growth, the Warwick-based Spinnaker Asset Management has announced the hiring of Carolyn Tadamala as their newest Financial Advisor.

In this capacity, Tadamala will assist clients with their retirement and allocate resources in hopes of generating additional income to help them attain their long-term goals. 

Spinnaker President Ronald Kent, Jr., said it was her knowledge of business both locally and abroad that set her apart.

“Carolyn comes to our firm from the vantage point of working in the financial services industry and being an International small business owner,” said Kent. “She will be instrumental in understanding clients’ needs and issues from their standpoint. We look forward to having her join our firm.”

Spinnaker Asset Management hired Lisa Picillo in a similar  position about one year ago. Along with Kent, there are three Financial Advisors on staff.

Tadamala has a world of experience…literally. After graduating from Loyola University, she moved back to her native India and founded her own bakery, Eclaire Bakery, where she also served as head chef. Before that, she worked for several years as Superintendent and Residential Director for The Rock Foundation. There, she formed and created numerous revenue streams to help students have the resources necessary to increase student graduation rates.

Upon returning to the United States, she worked at Santander Bank, N.A., as a Relationship Banker for over a year and as a Financial Advisor for Merrill Lynch, both located in Providence, before coming on board at Spinnaker Asset Management. 

“I’m looking forward to working with Ron and Lisa and am excited to help grow the firm,” Tadamala said. “My years of aiding people both locally and overseas has prepared me for this job.”

Kent said the recent worldwide events mean more uncertainty and opportunities to make important decisions.

“The market is fluctuating daily, and with the pandemic throwing a monkey wrench into the mix, people are concerned that their investments are not going to be there when they want to use them,” he said. “We see the market indicators and can adjust to make the most of a difficult situation.”

Spinnaker Asset Management, located at 400 Commonwealth Avenue, #7, in Warwick, works to ensure their clients’ money and other assets are working to maximize their investments.

For more details about their services and products, please call them at 401-884-3210. Additional information about the firm may be found by visiting www.spinnakerassetmgt.com

This press release is distributed for general informational purposes only and is not intended to constitute legal, tax, accounting or investment advice. No part of this newsletter nor the links contained therein is a solicitation or offer to sell investment advisory services except where applicable in states where we are registered, or where an exemption or exclusion from such registration exists. Information throughout this newsletter is obtained from sources which we believe reliable, but we do not warrant or guarantee the timeliness, accuracy or completeness of this information and the information presented should not be relied upon as such. All investments involve risk of loss, including the possible loss of all amounts invested, and nothing within this newsletter should be construed as a guarantee of any specific outcome or profit.

ABLTC Foundation Holds Virtual Silent & Live Auctions

The ABLTC Foundation will host its 13th Annual Silent Auction to benefit its mission of helping adversely affected groups of people statewide virtually.

The Virtual Silent Auction begins on Thursday, September 17 with the virtual LIVE EVENT set for Thursday, September 24, starting at 7:00 pm. The LIVE EVENT will run until 8:00 pm.

According to ABLTC Foundation’s General Manager Keri Salinger, funds raised through its annual signature event helps the most vulnerable people in the state. The Foundation achieves this through supporting programs, services, outreach and support to the elderly, disabled and neglected.

“Your generosity helps to protect the rights of mothers, fathers, grandparents and all elderly and disabled individuals who are victims of abuse, neglect and financial exploitation while receiving long-term care services in Rhode Island,” she explained.

The event was initially scheduled to happen during the spring. However, due to the ongoing pandemic and subsequent complications associated with social distancing and maintaining large crowds, the decision was made to make this event virtual.

Those who sign up for the virtual silent auction will have a chance to bid on unique baskets and packages, including gift baskets filled with gift cards to local merchants, restaurants, services and more. There are a few great raffle drawings and some “Buy Now” items as well, according to Salinger. 

Participants who register and attend the LIVE EVENT are also eligible to one of several door prizes through drawings throughout the evening. There will be Premium Auction items that will be up for bid during the LIVE EVENT, among them include: a Foxwoods Getaway for Two that includes a dinner and show of the winner’s choosing, a one-week getaway to Simpson Bay Royal Resort in St. Maarten (Dutch side) and a seven-day trip for four to Italy.

Besides entering the raffle and auction, people are also encouraged to make a one-time donation through the website. Salinger said any amount helps in forwarding the mission and reaching their financial goals.

Companies may also sponsor the Silent Auction in varying levels. Platinum Level ($2,000) includes eight raffle entries, Premium ad placement and Facebook recognition. Gold Level ($1,500) includes six raffle entries, Home Page ad placement and Facebook recognition. Silver Level ($1,000) includes four raffle entries, Item Page ad placement and Facebook recognition. Bronze Level ($500) includes two raffle entries, Item Page ad placement and Facebook recognition. 

For $200, individuals, families and companies may take out an Event Page Advertisement. Images need to be in either .JPEG, PNG or GIF format.

The ABLTC Foundation is a not for profit registered 501 (c) (3) organization. The ABLTC Foundation’s purpose is to benefit and support the Alliance for Better Long Term Care, Inc., a Rhode Island non-profit corporation formed over 30 years ago to protect the rights of our most vulnerable population throughout the state. 

Any donations and/or contributions made to The ABLTC Foundation are tax deductible. 

Registration is free to sign up and attend the event at www.abltc.givesmart.com or text “abltc” to 76278. Click on the prompts to complete the process.

For all other questions, please contact Keri Salinger at 401-785-3345, directly at 401-487-1085 or by email at Keri@abltcfoundation.org.

The New Kid on the Block

Business Partners Matthew Swain and Michael Souza started RI Auto & Detail for their love of cars.

Matthew Swain figured out early in his life that he would be surrounded by cars. His father owned a truck repair company in Cranston and worked as an auto mechanic and was a service director most of his life. It was that foundation set from the age of 12 that propelled the younger Swain to the field.

After getting experience in every aspect of the industry, Swain decided that maintaining vehicles would be his calling. Two months ago, he and Souza opened RI Auto and Detail, located at 35 Zipporah St., in North Providence, as a full-time venture.

The company helps clean, recondition, and keep cars, vans, motorcycles and other vehicles sparkling. Swain and Souza actually started the company in March 2019 as a part-time endeavor. The decision to ramp up to full time happened this past July after he realized that working two jobs had to stop.

“I was working full time at Toyota of Smithfield as an Assistant Service Manager and doing the detailing jobs during the evening and on weekends,” Swain said. “It got to the point that I had to decide which of the two jobs I wanted to keep doing. So, I quit my job at Toyota and devoted my energy toward this business.

“It was time to find out if I needed to jump ship and make it on my own or stay there and never know,” he added.

He jokingly said that after spending time as a mechanic that he wanted to be on the “cleaner” side of the industry. The work is primarily done by Swain with some help from Souza and an intern they have brought in. On an average week, the company does between eight and 10 cars per week. They do all types of jobs, from small jobs like a “waterless” car wash to complete details.

He prides himself on establishing long-term relationships with customers. There was a recent case of a customer needing a car wash quickly. Swain returned the finished car within an hour. Another patron  spilled primer on his floor—on a Sunday morning when Swain’s shop is normally closed. Swain managed to work on the car and remove the primer before it dried and left permanent damage. 

While he can do emergency type jobs, Swain said he wants to take the time to make sure the cars leave his shop in much better shape than when they arrive.

“One of the problems I find in this line of work is other shops are looking to sell customers as many services as possible,” he said. “I am going to tell you what you actually need and not upcharge you. I had people tell me they need a complete detail. After looking at their car, I may tell them they just need to have it washed and clean out the interior. I try to save them money with just giving them the services they need.”

Perhaps the most interesting—and surprising—thing Swain said is people who think they are cleaning the outside of their cars are doing themselves more harm than good.

“One of the biggest misconceptions about car washes is that they automatically clean cars. Instead, those brushes can leave scratches, swirl the paint or even ruin it. We can come in and decontaminate the vehicle during our gentle hand wash process to help make the paint brighter and last longer,” he said.

Moving ahead, Swain looks to add a mobile vehicle service. When operating (it is scheduled to start around mid- September), services such as car washes, interior detailing, spot removal, steam cleaning and other services. Swain said going mobile can help families who cannot reach North Providence and people who can’t leave their office. Swain can arrive at the location, do the necessary work and leave.

RI Auto & Detail also offers pick up and drop off service. They adhere to all of the social distancing rules, including using floor mats, steering wheel covers and covering the seats and dashboard. Jobs can take as little as an hour for small ones to as long as four hours for a complete detail.

For more information about Swain or to make an appointment, please contact him at 401-400-2720 or by email at services@riautodetail.com. They also accept appointment requests on Facebook @riautodetail and on Instagram @riautodetail. He usually books appointments within a two-day window of the customer’s call.

Do you have Tenant Issues? Check Out This Story Below….

This is a property located at 2172 Plainfield Pike in Greene, RI. The former tenants were Mary and Craig “SugeWhite” Preuit. See link below for details.

https://mailchi.mp/37105ee83828/2172plainfieldpike

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