With the Great Recession showing few signs of receding and the imminent end of tax cuts for the wealthy, affluent St. Louisans are wondering how to build, manage and safeguard their wealth. “With equity markets at extreme levels of volatility, and interest rates at historic lows, there’s no way of knowing what’s going to happen next,” says Maurice Quiroga, executive VP and managing director, PNC Wealth Management. “This is the best possible time to get together with your wealth management adviser to review your situation, with an eye toward modifying your financial plan for today, tomorrow and the future.”
You can’t build your dream home without an architect, and you can’t build your ideal financial future without a sound plan, Quiroga says. “PNC Wealth Management can work with you to develop a comprehensive strategy that meets your family’s needs.” PNC, he adds, takes an integrated, diversified approach to wealth management, focusing on four key areas of financial expertise: proprietary investment management, estate and financial planning, private banking and customized lending, and a detailed, customized blueprint for each client.
“Wealth management is a holistic process of delivering recommendations based on solutions in these areas,” Quiroga says. “The best wealth management providers strive to help clients maximize their investments while minimizing risk. Before we can accomplish that, we need to help clients understand their tolerance for equity versus fixed income versus cash.” It’s all about taking individual needs into consideration, recommending the right level and mix of risk tolerance based on the client’s age, career stage, family situation and other factors, he adds. “By making sure their portfolio has the right allocation of equity and fixed-income investments, we can make sure it’s positioned to weather turbulence.”
PNC’s wealth management group also helps clients plan their estate to provide for both family and philanthropy, Quiroga adds. “Comprehensive, well-designed transfer plans can offer financial security for the family, the opportunity to minimize tax liability, and the chance to leave a lasting legacy. Your hard-earned success deserves proper preservation.” PNC’s private banking and customized lending cater to the complex borrowing needs encountered by high net worth individuals, Quiroga points out. “No matter what the situation, we have the stability, expertise, resources and technology to underwrite it,” he says.
The next step is to develop a holistic plan that encompasses investment management, estate planning and trust administration, and cash flow management from a private banking standpoint. “There is no cookie-cutter approach to developing a wealth-building strategy,” Quiroga says. “It’s our job to develop a plan that takes into consideration each family’s goals and the level of risk they can tolerate.”
On the Cover: PNC Wealth Management offers complete financial management solutions designed for clients with significant assets. For more information, call 898-1338 or visit www.pnc.com.
Cover design by Dawn Stremlau • Cover photo by Jason Mueller