Wells Fargo Opens Centers To Serve Unique Needs Of High Net Worth Baby Boomer Generation
San Francisco — June 29, 2000
To expand its ability to serve the unique needs of the growing number of high-net worth clients, Wells Fargo announced today that it has opened new Wealth Planning Centers in San Francisco, Denver and Minneapolis. These centers will provide comprehensive wealth management planning with a team of highly qualified, professionals that represent several disciplines. The teams have expertise in estate and financial planning, and business succession and tax planning.
"Wells Fargo created the Wealth Planning Centers to respond to our client's requests for help with common issues affecting the baby boomer generation," said Michael Cole, senior vice president and national sales director for Wells Fargo's Investment Management and Trust. "With a holistic view of the client's needs, we assess their situation and develop a strategy to leverage opportunities and offer practical solutions to problems."
The three regional Wealth Planning Centers assist clients across the 23-state Wells Fargo banking territory to identify and reach personal and financial goals. Based on a tailored plan, the team works together to build, manage and preserve wealth.
According to Cole, they pursue strategies to manage investment risk, reduce income and estate taxes, coordinate the transfer of assets to future generations and charities and anticipate life events like unexpected death, disability or long term care. Each team works in partnership with the client's own team of professional advisors, including their attorney and accountant.
In addition to the skills and experience of the wealth planning team, they draw upon extensive resources within Wells Fargo, including trust services (special needs, charitable, legacy), special asset management, investment portfolio management, business valuation services, private banking (loans) and other services.
Private Client Services builds on more than a century of experience, integrating a full line of financial services - including brokerage (through Wells Fargo Securities and Wells Fargo Brokerage Services, LLC), investment management, trust and private banking.
Wells Fargo Private Client Services has more than 850 financial consultants in 23 states. Wells Fargo oversees more than $120 billion in assets, $55 billion of which is managed for high net worth investors, as of March 31, 2000.