Searching For A Private Wealth Partner
When choosing a wealth management firm to protect and grow your accumulated assets, start at the very beginning by learning as much as you can. Educating yourself will allow you to make the most informed decisions on your family’s behalf. Then keep in mind the following tips to guide you when selecting a partner to help you manage and grow your wealth for years to come.
# 1 - Actively Research Terminology And The Process
The more you know, the more you can confidently evaluate and choose a provider, and have an educated discussion about your options.
# 2 - Research The Fee Structure
However, steer clear from choosing a provider completely based on fees. Trust is paramount in the relationship, as your nest egg is on the line, so you should feel fully comfortable with your choice.
# 3 - Consider Geography
A local expert who is accountable to you in person, whom you trust to listen to your priorities and will partner with you is important. Are you getting personal attention or are you receiving a generic email once a year?
#4 - Look Into The Firm's Record Of Accomplishment
You’ll want to see how they’ve performed over short and long economic cycles so you have an idea of what to expect.
#5 - Understand Risk
Before you start working with a firm, find out if they will help you identify the risk profile you want for your investments.
#6 - Ask How They Work With Their Clients Over Time
As you age and your needs change, will the firm proactively adjust your risk profile?
#7 - Choose Connection And Experience
A good fit is paramount, as is securing an experienced team you trust to actively work on your behalf. Make sure your team listens and understands you and knows your priorities in an effort to get it right for you and your family.
President - Private Wealth of First Business Bank
Brendan Freeman, President of Private Wealth at First Business Bank, hasover 25 years of experience in private wealth management and banking, including in previous leadership roles. He oversees private wealth management services in the South Central Wisconsin, Southeast Wisconsin, Northeast Wisconsin,and Kansas City Metro markets.
