Face-to-Face Approach Sets Stage for
Customized, Coordinated Financial Strategies
A glimmer of hope for an economic recovery has given way to a maddeningly slow rate of growth in 2012. “As investors watch their timelines diminish, they can be tempted to panic and make decisions based on emotions,” says Don Worthington, CEO of National Penn Wealth Management (NPWM).
NPWM focuses on creating confident investors. “Our clients tell us they are most concerned about maintaining their quality of life during retirement, funding major obligations and preserving wealth. Taking large risks with their investments doesn’t match their financial goals,” explains Worthington, whose group develops and implements time-tested wealth strategies that address the unique needs of each client. “Balancing risk versus reward hinges on our understanding of the client’s situation and preferences. Ongoing face-to-face meetings and regular reviews give us the best opportunity to meet their expectations throughout their entire life cycle, from wealth building and distribution to retirement.”
“As we build long-term relationships, we develop the level of trust with clients that allows us to coordinate many aspects of their financial lives and impact multiple generations,” says Linda La Vay, Senior Vice President of National Penn Investors Trust Company (NPITC), part of NPWM.
La Vay recently began working with a client – a newlywed expecting her first child – who had unexpectedly inherited a substantial sum. The woman’s accountant recommended National Penn. La Vay’s team established an investment portfolio designed to achieve the client’s objectives, then assembled a team of advisors, attorneys and other professionals to minimize the tax burden and pave a path to transfer assets to the next generation.
In the months ahead, the family tapped into many National Penn resources. A part of National Penn Bancshares, Inc., an $8.4 billion bank holding company, National Penn Wealth Management offers private banking, trust, investment management, health care and other insurance services, and retirement planning. The client was so impressed with National Penn’s personal approach she recommended the firm to her father. He moved his assets to NPITC and, with the assistance from its advisors, began addressing his estate planning and low-cost-basis stock issues.
National Penn can measure its success by rankings, such as its listing as #15 among Forbes’ 2012 Best Banks in America (up from #33 in 2011) and its recognition as a “5-Star Superior” bank by Bauer Financial, Inc. for six consecutive quarters.* But Worthington is more likely to point to stories like this one to demonstrate the company’s strength. “We were referred to the family by an accountant in the community. In turn, the woman referred us to her father. We don’t take that level of trust for granted.”
* Based on capital quality, asset quality and other factors.
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