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Leading by Example

Advisors weigh in on how much to share about their own finances, Schroders enters U.S. wealth business and Raymond James gains $500 million team.

How much should an advisor reveal to clients about his or her own financial situation? Forbes contributor Roger Ma asked several advisors what they’re comfortable sharing. Most agreed that they shouldn’t share their income or net worth, as it may not be indicative of sound financial planning. But it would be fair to share the types of investment accounts he or she has, the types of products used, and the advisor’s investment strategy. A potential client may also ask how the advisor has handled certain financial situations—to gain real-world perspective. "As I have grown older, the real-life experiences of living through market fluctuations, financing a house, paying for college and starting a business have provided great background that I can share with clients,” Sharon Weaver, certified financial planner at Mission Financial Planning, told the publication. “If I were interviewing an advisor, I would ask whether they had experienced some of the things that I, as a client, wanted to address."

Schroders Creates U.S. Wealth Management Company


Global asset manager Schroders has launched a new company, Schroders Wealth US, as part of its wealth management division. The U.S.-focused business will be headed by Martin Heale, who will join Schroders in August from from RBC in London. Mary-Anne Daly, the chief executive of Schroders' Cazenove Capital, will also serve as CEO. The new firm will offer wealth management services to high-net-worth U.S. clients in the U.K. and North America, International Adviser reports. The move allows Schroders to better service U.S. expatriates living in the U.K. “This is an exciting development for our business," Daly said. "We have [much] experience managing U.S. clients residing in the U.K. and are fully familiar with their complex investment and reporting requirements. The recruitment of such an experienced individual as Martin reinforces our commitment to serving U.S. clients, including those living in the U.S.”

Team Managing $500 Million Joins Raymond James

Two brothers and a fellow advisor overseeing $500 million in client assets have left Wells Fargo Advisors to start an independent firm. Scott and Greg Powers, who are identical twins, and Sean Sill joined Raymond James Financial Services to open a Palm Beach Gardens, FL-based firm called Twin Powers & Sill Wealth Advisors. The team serves a variety of individuals and multigenerational clients, and previously had more than $2.5 million production while employed by Wells Fargo, according to a statement.


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