Many people would define a life well-lived by the legacy they leave. In today’s ever-changing world, it’s vital to take the time necessary to ensure you have the proper financial strategy in place to meet your long-term goals for retirement, so you can make the most of every milestone you have achieved throughout your life. To bridge the gap between your ideal future and the current state of your finances, Broadway Bank – an independently owned local bank serving San Antonio since 1941 – has a Wealth Management division dedicated to creating a custom financial planning strategy tailored to the unique needs of each individual client, and all of their work stems from what they believe to be the most important word: you.
Broadway Bank’s decades of success in wealth management have been built upon its core philosophy of a “you-focused” approach, which puts clients and their needs at the forefront of the bank’s mission. Broadway Bank understands that every client has a different perspective, meaning every client deserves a wealth management strategy designed for their specific financial dreams. Ultimately, as Jonathan Wolf – Broadway Bank’s Executive Vice President, Wealth Management Line of Business Leader – explains, the purpose of wealth management is “to make life simpler for our clients. It’s designed to be a solution that we can put in place to create peace of mind and to allow our clients to retire well.”
Every decision they make is centered around the client’s vision. They seek to understand a client’s long-term goals, their view on risk, and their willingness to take risks, which all play into how they will develop a personalized plan for an individual to, as Wolf says, “rest assured that their best interests as it relates to their financial circumstances is being looked after.”
This you-focused approach begins when the bank’s team walks into the first meeting with a new client. The team members come in with no preconceived notions, so that they can truly listen to the person to understand their unique wants, then craft an individualized strategy designed to help the client.
Unlike an out-of-state or more corporate wealth management team, Broadway Bank believes in the importance of personalizing your banking experience. It is held to what’s known as the “fiduciary standard”, which means it is always obligated to act in the client’s best interest across its entire wealth management business. All of the bank’s decisions, investments, advice, and admonishments are done in service of the client’s distinct needs, which is unique compared to a larger company that may have other branches held to lower standards.
The Wealth Management division at Broadway Bank offers a full spectrum platform designed for anyone at any stage of their financial planning, although the division’s ability to truly personalize your wealth management plan grows with the more capital you are able to invest in your future. The three primary components of the bank’s wealth management services include Insight Partner, Insight Advisor, and Insight Digital. Insight Partner is a trust administration group that manages trusts or serves as a corporate trustee for high net-worth individuals. In conjunction with Insight Partner, Insight Advisor consists of a group of financial advisors that lead with goal-based advice tailored to each client, then utilize the best thinking of their portfolio management team to maximize the potential of a client’s wealth. Lastly, Insight Digital offers a complete end-to-end online wealth management experience that allows clients to invest entirely digitally.
Wherever one begins working with Broadway Bank’s Wealth Management, the team is nimble and its system is fluid, so the team members are easily able to migrate you from channel to channel as your needs grow and change. For example, if you’re working with Insight Partner and your portfolio expands to a point that you want to introduce oil and gas assets, they can add an oil and gas specialist to your team. Or if you start off with an account using Insight Digital but eventually need more one-to-one guidance from a CFP practitioner, from a financial advisor, they can do that as well.
This fluidity is a small piece of one of the greatest values Broadway Bank brings to its clients: the fact that it is a local bank dedicated to serving the community. “We are your neighbors,” Wolf says. “We are absolutely just as qualified as the people in other cities, but we live and breathe in this community, and that is of real value to us.”
Their proximity is an asset, allowing those that bank with them the comfort that they can reach out at any time to know what’s going on with their management portfolio. Wolf explains, “If a client wants to know why we bought stock X, they can pick up the phone and call that portfolio manager, and [he’ll explain] exactly what our reasoning was.”
Wolf has worked at a number of companies over the years, including larger corporate banks, which has allowed him to recognize that Broadway Bank’s dedication to the San Antonio community is a rarity. “I’m very proud of the fact that we’re deeply involved in the community,” Wolf says. “It’s more than checking a box for us; it really is part of the fabric of our organization.”
With recent shifts in wealth management at large, it’s more important than ever to find an adaptable wealth management team dedicated to tailoring a financial strategy that suits your lifestyle and long-term goals. Broadway Bank has been an integral part of the San Antonio community since 1941, and its Wealth Management branch continues to offer the personalized financial planning unique to each customer that separates it in today’s increasingly homogenized banking world. As Wolf says, “We’re solid. We’re not going anywhere. We’re focused on that one-to-one relationship with our clients, and we are always going to keep it that way.”
To learn more, visit https://broadway.bank/wealth-management.
Insight Digital and Insight Advisors are offered by Broadway Wealth Solutions Inc., which is a Registered Investment Advisor wholly owned but separate from Broadway National Bank. For further information, please contact us for a copy of our disclosure documents, including Form ADV Part 2A and supplemental materials.