PRW Updates 6/28/2019
Members of the PRW Wealth Management Investment Advisory and Wealth Transfer Planning Teams regularly attend seminars, due diligence meetings, and workplace training initiatives to broaden their core competencies and client-servicing capabilities. Here is a brief update for the last quarter:
Chief Investment Officer Elliot Herman spoke at the New England RIA Summit on a panel entitled Carrying Out Generational Wealth Transfer. The panel discussed ways that advisors can help to manage the risks and opportunities that are created from the transfer of wealth from generation to generation.
Both Elliot and Wealth Advisor Jared Sweeney attended the annual Fidelity Investment Symposium in Boston and heard insights from Wil Danoff and other investment managers at the firm. Jared also participated in a workshop hosted by Morningstar to further enhance PRW’s due diligence and technological capacities.
Our Estate and Wealth Management Counsel, Janice Forgays, presented a webinar for the Boston Estate Planning Council. Split the Policy and Spare the Dollar highlighted the planning solutions offered by split dollar life insurance for estate, business and retirement planning. She also attended a seminar for attorneys on Opportunity Zones and their potential as a tax effective strategy when selling a business. She also attended a seminar on Christian estate and financial planning. The session provided insight on how a client’s plan can embody Christian values, beliefs, and lifestyles.
Director of Finance and Operations, Gary Wentling, attended a working lunch with other representatives from the leading wealth management firms in the Boston area hosted by Andrew Salesky, SVP, Advisor Technology Solutions. Andrew leads Digital Advisor Solutions which has responsibility for managing the suite of technology platforms used by more than 7,500 Registered Investment Advisors that custody assets with Schwab. This group is a core component of Schwab’s Digital Services team.
During the lunch Andrew outlined Schwab’s five key technological objectives for improving operational efficiency, security, and the client experience. Their goal is to make the technological operations as seamless and user-friendly as possible. Following Andrew’s presentation, the group participated in a very productive question and answers session concerning the current state of technological services and thoughts about the key objectives.
Director of Advanced Planning, Ted Dziuba, hosted meetings with representatives from Lincoln Financial, John Hancock, Penn Mutual and Zurich Life as part of his ongoing due diligence monitoring of PRW’s suite of investment-grade life insurance partnership carriers.
Chief Compliance Officer and Director of Wealth Management Services, Cathy Dolphyn, attended several seminars this quarter. Ever watchful for ways to improve our service delivery, she attended three training sessions on money movement with Charles Schwab & Co., Inc. as well as a webinar by Lion Street Financial about LaserApp Anywhere, a program to pre-populate and improve speed and accuracy of form completion. And with the goal of continuing to improve our compliance program for the protection our clients, she attended Schwab’s “2019 Spring Regulatory Update”; “Third-party Risk: Best Practices for Due Diligence and Ongoing Assessments” by ProcessUnity, “5 Seismic Shifts in Compliance Training”, “How to Effectively Achieve Sustainable Compliance”, “Conquering Current Compliance Challenges” by Regulatory Compliance Watch, “How to Tackle CCPA Compliance: Expert Guidance and Benchmarking Insights” as well as a conference call by the SEC Boston Regional Office regarding the FY2019 Program.
The entire PRW team will continue to educate ourselves with the latest news and research to stay current and support our primary goal of providing “Raving Fans” level service and support.
PRW WEALTH MANAGEMENT LLC DOES NOT INTEND THIS TO BE USED AS A PRIMARY BASIS FOR INVESTMENT DECISIONS. IT SHOULD NOT BE CONSTRUED AS ADVICE MEETING THE PARTICULAR INVESTMENT NEEDS OF ANY INVESTOR. NEITHER THE INFORMATION PRESENTED NOR ANY OPINION EXPRESSED CONSTITUTES A SOLICITATION FOR THE PURCHASE OR SALE OF ANY SECURITY. ALL INVESTING INVOLVES RISK, INCLUDING THE POTENTIAL LOSS OF PRINCIPAL; THERE IS NO GUARANTEE THAT ANY INVESTING STRATEGY WILL BE SUCCESSFUL. NEITHER THE INFORMATION NOR ANY OPINION EXPRESSED HEREIN CONSTITUTES A SOLICITATION FOR PURCHASE OR SALE OF ANY SECURITIES AND SHOULD NOT BE RELIED ON AS FINANCIAL ADVICE.