SunTrust Financial Planning Helps Clients Weather Market Storms
Thursday, January 7th, 2016
When volatility shakes the financial markets, SunTrust Private Wealth Management helps take the panic out of clients’ decision-making. SummitView, a financial planning software introduced by SunTrust in early 2014, turns a financial plan into an always-up-to-date, living document by aggregating financial information in real time from across a client’s portfolio.
“Clients can see exactly where they stand and that helps put market volatility in perspective,” said Arthur Bickerstaff, client advisor for SunTrust Private Wealth Management in Columbus.
“We encourage clients not to make investment changes off of news headlines,” said Mat Mize, financial advisor for SunTrust Private Wealth Management in Columbus.
Having a financial plan in place and updated in real time helps clients remember their strategies and feel more confident they will achieve their goals. According to Bickerstaff, no other financial planners in the Columbus market offer a software tool with the capabilities of SummitView.
“It has been a tremendous game-changer in the way clients view financial planning. It used to be very laborious for clients to pull together all their financial information every year. Now SummitView has taken all that out,” Bickerstaff said.
SunTrust Private Wealth Management in Columbus serves primarily individuals, small business owners and entrepreneurs with more than $1 million in liquid assets. Private Wealth Management provides financial services tailored to fit client’s needs including planning, investment management, trust and fiduciary services as well as basic banking needs.
More Vital than Ever
Both Bickerstaff and Mize have about 16 years of experience in financial and investment planning. That longevity gives them a unique perspective on what’s changed in financial planning.
“I’d say financial planning is more important now than ever. We won’t even consider making an investment recommendation without first understanding the underlying financial plan,” Mize said.
At SunTrust, clients have a dedicated financial planner who works with them to identify their specific financial goals as well as a strategy and risk level to achieve those goals. Depending on circumstances, a financial plan can address saving for college or retirement, insurance needs, tax and estate planning, or all of the above.
“If the client is a married couple, we prefer to talk with them together to get their buy-in on a plan,” Bickerstaff said.
“We first look at what assets are in place, what they are looking to accomplish and what’s keeping them up nights.”
A Team Approach
SunTrust serves their private wealth clients with a team approach, pulling in experts in insurance, tax planning and investment planning as needed. According to Bickerstaff, the bank made a significant commitment to private wealth management several years ago, investing in additional staff and technology.
“We pride ourselves on our team set-up. We have multiple individuals with different expertise to advise our private wealth clients – from personal and commercial loan needs to trusts and insurance,” Bickerstaff said.
“We are a full-service provider,” Mize said. “We don’t just talk financial planning; we practice what we preach.”
More information on SunTrust Private Wealth Management is available at www.suntrust.com/wealth-management.
