Is it time you consulted a Wealth Manager? We can help.

For those who may need a higher level of financial services, Fidelity Bank Wealth Management Division’s team approach can provide the necessary assistance. Members of the team provide investment and asset management, private banking, and trust and fiduciary services. From clients who are in the early stages of their careers, to those who are well-established with more complex financial circumstances, it’s never too early to start planning, and protecting, your financial future.

Lori Barrett, Esq., Assistant Vice President and Trust Officer, Fidelity Bank Wealth Management explains:

Who can benefit from working with a wealth management team?

Investing in the stock market, saving for retirement, and establishing an estate plan can be overwhelming and a stressful undertaking for a lot of people. As a result, many tend to put those decisions on the backburner. Others may be fear that changing an existing portfolio will have adverse effects or unknown consequences, so they default to keeping their financial picture status quo. These are the very people who would benefit from a conversation with a knowledgeable wealth management team.

Who are some of the members of Fidelity’s Wealth Management team?

If you or I wanted to build a new house, which is no doubt an overwhelming venture, we would likely seek the expertise of a qualified team of people — an architect, an engineer, a contractor, an electrician — those we can trust to guide us through the process to achieve a final product customized to our specific needs and objectives. I look at our Wealth Management team at Fidelity Bank in a similar manner. Like those building a house, our team is comprised of people with different areas of expertise, and by combining our individual strengths, we are best able to give our clients a broader and more diverse range of advice.

For example, Theresa Hinton and I are Trust Officers, but we are also attorneys. We can offer our clients more in-depth advice regarding estate planning and preparation for retirement from a legal perspective. Our investment officer, Will Fennie, is a CFA (a Chartered Financial Analyst). He joined the team at Fidelity Bank with a background geared toward offering clients more guidance in portfolio management and investment decision making. Our Director of Wealth Management, Nick Parise, functions as the team architect. His role is more comprehensive and focuses on building strong relationships with our clients to ensure their overall financial needs are met. 

What advantage does a community bank like Fidelity have over a corporate wealth management team?

Fidelity Bank Wealth Management works in a team approach to assist our clients in achieving their financial goals, whether that client is a person of high wealth or a person at the beginning of his or her career. While there are many fine corporate wealth management services available, there are certainly advantages to working with our team at Fidelity. First and foremost, we are local, which means we are available and accessible. Unlike many corporate advisors, we live in the communities we serve. Most of our clients know us by name and have our cell phone numbers. Each team member makes it a priority to be available, so our clients are never put in a phone queue or passed off to an unfamiliar name. Although we are the investment arm of Fidelity Bank, we also try to make our clients’ overall banking experience as worry free and convenient as possible. All of our investment customers are offered private banking services and are afforded Fidelity’s most competitive rates and products.

Is there a consultation fee to meet with a member of Fidelity’s Wealth Management team?

No. We never charge a consultation fee to meet with a client. In fact, all of the members of our team are salaried employees, and we have no motivation to recommend products or services to clients unless we feel they are truly beneficial.     

How frequently should you meet with your wealth manager?

As a general rule, our team at Fidelity Bank Wealth Management meets with our clients in person (or, this past year, by Zoom) at least on a quarterly basis. Having said that, sometimes a change of circumstance arises that warrants additional meetings, or sometimes our clients prefer to communicate by phone or email. We are flexible and defer to our clients’ preferences and schedules. Because we are local and because we work in a team approach, we can usually accommodate requests on short notice. 

What are the top financial habits you recommend clients develop to help future generations preserve financial stability and growth?

As a mother of five children — now young adults — I am a big advocate of teaching by example. My own parents were financially responsible, and I try to instill in each of my children the importance of working hard, having skin in the game, being in control of your destiny whenever possible, and perhaps most importantly, being prepared for what may lie ahead. Similarly, at Fidelity Bank Wealth Management, we always emphasize to our clients that it is never too early or too late to start thinking about their financial future, whether that future entails starting a business, establishing a trust, saving for retirement, or amassing assets to leave behind for children or grandchildren. The best time to start thinking about these issues is today.

As an attorney, I also always remind my clients that preparing for the inevitable (dying) is not a morbid concept, but rather, it is a financially astute one. Having a will, a power of attorney and an advance directive for medical decisions is a vital part of one’s estate planning. If you do not make some crucial decisions before you pass away, someone (namely the state) will decide them for you. No doubt, these can be difficult decisions, but by planning ahead, not only do you determine who benefits from the wise financial choices you made during your lifetime, but you can also help reduce confusion or disagreement about the choices you would want your loved ones to make on your behalf. These are just a few of the issues that our Wealth Management team will address when reviewing our clients’ overall financial goals.

---

---