Brown says, "Over the years we have invested heavily in wealth management services. We have a team that works closely with our advisor clients on everything from stocks to philanthropy to how children of affluent families handle money."
One client who was CEO of his own company recently approached the firm for assistance with selling the company as he retired.
"He had a considerable payout when he sold the company and this was the first time he had ever had to consider diversifying his investments. He had to develop an investment strategy to meet his needs for what will probably be 20 to 25 years of retirement. He also wanted to be active philanthropically," Brown says. "He looked to us to work with his financial advisor to diversify his investments, and his advisor knows he can come back to us and ask if estate or tax laws have changed and how that might impact his portfolio, or address his other investment needs.
"What is important to know is that when we work with
advisors, we try to help them with high-quality strategies that
complement their existing plans for their clients to help them achieve
their long-term investment goals." adds Brown.
The age of retirees
is particularly important now, agrees Anson. "We know most people have
a much longer runway of retirement, so we still have to plan for
high-quality equity and income growth even after retirement. We need to
be more conservative than if the person was a teenager but we need to
continue to build equity. And drawing upon their institutional
expertise, we believe our boutique firms are experts at this type of
planning."