PRW UPDATES – 10/7/2019
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 Compliance Officer and Director of Wealth Management Services, Cathy Dolphyn, took advantage of several learning experiences over the past few months. As rules and regulations continue to change in an already heavily-regulated industry, it is important to stay aware and ahead of the numerous updates. Our goal is to protect our clients and compliance is a critical factor in so doing. With that goal in mind, Cathy attended the following webinars: “GDPR Compliance” by TrustArc, Inc.; “The New Standard of Conduct for Investment Advisers and Brokers/Dealers” by Stark & Stark; Regulatory Compliance Watch’s monthly, “Conquering Current Compliance Challenges”; and “CCO Speaks – Insights from Recent SEC Examinations” by SS&C Advent and Focus 1 Associates LLC.
In line with our compliance efforts, we select vendors that put our clients’ privacy and security as a primary concern to help us deliver not only secure services, but also service that is high-touch and user-friendly. With the constant cybersecurity threats all around us, we recently updated our password manager across the enterprise. As administrator, Cathy attended “LastPass Enterprise Administrator Training” by LogMeIn. She also attended Broker/Dealer Lion Street’s monthly Operations webinar to stay apprised of Lion Street’s ongoing efforts to protect clients and facilitate client services.
Senior Client Service Specialist, Cheryl Mattar, attended one of Schwab’s online seminars detailing digital account opening and how it will expedite the process of client onboarding. She also completed additional training for Advanced Money Movement and eAuthorization to better situate herself with the Schwab Alliance website’s client interface and improve upon internal protocols for obtaining digital signatures.
Cheryl was joined by Wealth Advisor Jared Sweeney and Senior Support Advisor Stephanie Manchon at Schwab Solutions 2019, an all-day training event aimed at further developing usage of all the capabilities offered to the PRW team via our relationship with our custodian, Charles Schwab.
Ted Dziuba, Director of Advanced Planning, hosted meetings with representatives from Axa Financial, Allianz Life, Symetra and Prudential as part of his ongoing due diligence monitoring of PRW’s suite of investment-grade life insurance partnership carriers. He also represented the firm at Lion Street’s 2019 Boston Town Hall event, which included deep-dive technical analyses of Premium-Financed Life Insurance cases, as well as advanced case design opportunities currently available in the life insurance product marketplace. He also attended a design academy at Symetra Life Insurance Company’s home office in Waltham, MA, spending a full day researching new product innovations in life and long term care insurance.
Our Estate and Wealth Management Counsel, Janice Forgays, agreed to serve on the AALU Tax Advisory Group.
Also of note this past quarter – Principal William Payne had the opportunity to ring the Nasdaq stock market opening bell in his capacity as board member of HarborOne Bancorp, Inc., and PRW’s Chief Investment Officer Elliot Herman was cited in two financial articles: MarketWatch.com’s Brace yourself: 10 steps to take now to prepare for the next recession by Brett Arends and also in Kiplinger’s article: Live Well Without Running Out of Money in Retirement by Eileen Ambrose.
Lastly, the PRW team was trained on our new videoconferencing system. We can now offer a face-to-face meeting regardless of any participant’s location. With secure file-sharing and real-time collaborative work capabilities, we trust this will enhance the client experience, making it more convenient than ever to meet with any one of us. We are excited to share this technology. Please feel free to reach out to any member of the PRW team for further information.