Achieving Best-in-class Wealth Management Integration
For a family’s long-term wealth management strategy to succeed, its advisory team's efforts must be integrated. This means the coordination of various experts, marching in lockstep to accomplish a family's goal. But this level of coordination, this integration — isn't a simple task.
Despite how simple it may sound, effectively combining various disciplines on the team into a cohesive unit still represents one of the biggest challenges in wealth management-- often with a high cost for failure.
By leveraging an integrated wealth strategy, families have a much greater chance of meeting their needs and achieving their goals. But because implementing such an approach can be difficult, advisors must pay heed to factors that may prevent its effectiveness and guide clients in the best way to achieve integration.
So, what does an integrated wealth management structure look like?
Read this latest report from Key Private Bank Chief Operating Officer Joe Calabrese, as he imparts lessons learned over more than 25 years working with families to meet their goals. Joe provides a proven model for organizing needs and service areas under the ten domains of family wealth.
About Joe Calabrese
Before joining Key, Joe held a wide range of executive roles including President and CEO of Geller Family Office Services, a New York based RIA and multi-family office; and President of Harris my CFO, which focused on serving clients with a net worth in excess of $100 million.
Joe graduated from McGill University in Montreal, Canada with a joint honors degree in Economics and Finance and holds a Chartered Accountant designation. Joe actively serves on the advisory board of The UHNW Institute and the Gaples Institute for Integrative Cardiology. He is a past President of the Goodman Theatre Board of Trustees in Chicago, and also served as Chairman of the board of overseers for Lewis College of Human Sciences of the Illinois Institute of Technology.
Joe resides in Bronxville, NY with his wife and three children.