Tag: wealth management

Apr 11th

Partners In Portfolio Strategy

Three key questions to strengthen your investment strategy.

At its core, investing is straightforward: Buy low, sell high. But additional factors such as taxes, along with your risk tolerance and asset mix, can significantly impact your returns. Three key questions can help ensure your investment strategy is positioned to maximize your long-term after-tax returns and legacy goals.

1) Is your wealth concentrated in just one or two businesses, asset classes, or stocks? 

At Whittier Trust, new clients frequently come to us having created significant wealth through a single asset—perhaps their own company or stock from an employer. As the oldest multi-family office headquartered on the West Coast, we have seen this position time and time again. But that doesn’t mean that we respond in the same way each time.

“Conventional wisdom tells us that reducing the concentration and diversifying the proceeds is the appropriate way to mitigate an investor’s risk,” says Nick Momyer, Senior Portfolio Manager at Whittier Trust. “But while that may work for one client, it could be all wrong for another.”

At Whittier, we never take a one-size-fits-all approach. “The first step,” Momyer explains, “is to leverage our expertise as fundamental investors to gain a foundational understanding of your assets.”  

The Whittier investment team will study the tax characteristics of your holdings and factor in the exposures that inform potential risk and return. “Then, armed with this deep knowledge, we craft personalized portfolios comprised of uncorrelated assets, minimizing the overlap with your existing holdings,” Momyer says. 

This complementary method delivers tax efficiency and enhanced downside protection, safeguarding your wealth. 

2) Is your investment portfolio tailored specifically for you? Or do you sometimes feel you’re just another account number to your wealth manager? 

At Whittier Trust, we believe our clients deserve a more calibrated approach that can significantly improve the compounding power of your portfolio: the use of individual securities for tax-efficient wealth management. Unlike mutual funds, individual securities offer granular control over your portfolio, selecting each holding with detailed knowledge of its track record, integrity, and growth potential. 

“Our client-centric approach starts with your objectives,” Momyer says, “which guide our management of a customized portfolio, tailored specifically for your unique needs and desired outcomes. This gives us great advantages for capital gains management and tax-loss harvesting. We can identify assets to complement and diversify a legacy portfolio of concentrated positions, then manage capital gains on a security-by-security basis. This allows us to potentially defer, transfer, or even avoid capital gains taxes through calculated selling and tax-efficient gifting strategies.”

The market will always have ups and downs, and at Whittier, we use these fluctuations to your advantage. By strategically harvesting tax losses on underperforming stocks, the Whittier team offsets taxable gains from other investments, reducing your tax bill and freeing up capital for reinvestment. “Think of it as tax alpha,” Momyer says, “Actively using tax-efficient strategies to boost your after-tax investment returns.”

These stratagems are particularly beneficial for ultra-high-net-worth clients with complex portfolios that include concentrated and highly appreciated assets. Individual securities allow us to navigate these situations effectively, minimizing tax drag and preserving more of your wealth to compound over time.

“One recent example was a client who inherited a concentrated technology holding with a looming tax burden,” Momyer recounts. “We saw an opportunity for a multi-pronged approach. By expertly harvesting tax losses elsewhere in their portfolio and leveraging the client’s donor advised fund, we reduced their tax liability, diversified their portfolio, and honored their charitable wishes.”

3) Are your investments aligned with your long-term financial and legacy goals?

Many investors focus on growing their wealth but may not have a clear roadmap for sustaining it over generations. At Whittier Trust, we integrate portfolio strategy with estate planning, philanthropy, and wealth transfer goals.

“Our approach goes beyond returns. We help clients structure their investments to support their broader objectives, whether that’s leaving a legacy for their family, supporting causes they care about, or simply enjoying financial freedom,” Momyer says. “By considering factors like trust structures, estate planning, and tax implications, we help ensure your portfolio works in concert with your long-term vision.”

At Whittier Trust, we take a holistic approach to wealth management, ensuring that your investments align with your evolving financial needs and legacy aspirations. By combining deep investment expertise with thoughtful estate and tax planning, we help clients not only grow their wealth but also secure their financial legacy with confidence and purpose.

Getting Started

At Whittier Trust, our history and experience become your advantage, directing you to the strongest market performers while making sure taxes don’t erode your wealth. Once our investment team gains a clear understanding of what matters most to you, we craft a customized, efficient portfolio of individual securities, to maximize your after-tax return and meet your objectives. You gain greater control with less effort and stress, knowing you can rely on your fiduciary advisor and family-office investment team to act in your best interests. We invite you to contact Whittier Trust today and discover how we can help you not only achieve your personal and financial goals, but perhaps surpass them.

If you’re ready to explore how Whittier Trust’s tailored investment strategies can work for you, start a conversation with a Whittier Trust advisor today by visiting our contact page.

 

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Apr 3rd

Whittier Trust Names Whit Batchelor the Head of New San Diego Office

Bringing Decades of Wealth Management Expertise to San Diego’s Ultra-High-Net-Worth Families

Whittier Trust is pleased to announce that Whit Batchelor has been appointed as Executive Vice President, Client Advisor and San Diego Regional Manager, where he will lead the firm’s newest office in San Diego. This appointment underscores Whittier Trust’s dedication to internal leadership development and its commitment to maintaining a client-first culture and relationships spanning generations through experienced, long-tenured professionals.

“Whit’s deep expertise, strong relationships and dedication to client service make him the ideal leader for our official expansion into San Diego,” said David Dahl, President and CEO of Whittier Trust. “Having been with Whittier Trust since 2011, Whit has played a pivotal role in guiding our clients in Southern California. His time as part of the leadership in Newport Beach, coupled with his strong community involvement and extensive work already with clients in San Diego, ensures a seamless transition as we further grow our presence in the region to continue serving our clients locally.”

During his tenure at Whittier Trust’s Newport Beach office, Batchelor spent more than a decade expertly navigating the complex financial landscapes of high-net-worth individuals and families, crafting personalized, multi-generational strategies that align with each family's distinct goals and values. His expertise spans wealth and investment management, estate planning, tax optimization, balance sheet management and comprehensive financial advisory services, essential for a premier multi-family office. Known for his dedication and accessibility, Batchelor cultivated lasting relationships with clients and their families, ensuring continuity and a bespoke approach to financial services. His deep familiarity with the San Diego market, forged through years of building relationships and advising families in the area, further positions him uniquely for this role.

In addition to his expertise in wealth and investment management, estate planning and tax optimization, Batchelor has been an active participant in community initiatives throughout Southern California. While in Newport Beach, he was deeply engaged in service projects and philanthropic efforts, including his tenure on the board of Make-A-Wish Orange County & the Inland Empire, where he served as board chair. He brings this same spirit of community involvement and service to San Diego, where he envisions the office playing an integral role in both client service and regional philanthropy.

Whit Batchelor holds an undergraduate degree from the University of Vermont and an MBA with a finance concentration from California Lutheran University. He is a Certified Trust and Financial Advisor (CTFA) and a Certified Financial Planner (CFP). Outside of work, he enjoys spending time with his wife and three children, pursuing outdoor activities such as sailing, skiing and mountain biking.

As Whittier Trust officially opens this new office in San Diego, the wealth management firm remains committed to its tradition of thoughtful leadership selection, ensuring that every client continues to receive the personalized and sophisticated wealth management services that define the Whittier Trust experience.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Mar 26th

Whittier Trust CIO, Sandip Bhagat, Featured on NASDAQ TradeTalks Panel 

Sandip engaged in a healthy debate with top industry professionals and economists about the recent turmoil in the markets as a growth scare threatens to devolve into a recession or stagflation.

Risk assets have sold off in the midst of high policy uncertainty and fiscal austerity from government job cuts. In the span of just a few weeks, concerns about the U.S. economy have shifted from being overheated to now plunging into a recession.

Sandip believes these fears are overblown and unwarranted. The bark of tariffs will likely be bigger than the bite. Renewed fiscal stimulus, deregulation and productivity growth will eventually push growth higher in the coming years.

Watch now to hear Sandip’s more balanced, strategic and constructive outlook in a discussion with Phil Mackintosh, Chief Economist at Nasdaq; Brian Joyce, Managing Director on the Nasdaq Market Intelligence Desk; Steven Wieting, Chief Economist & Chief Investment Strategist at Citi Wealth; and host of Nasdaq Trade Talks, Jill Malandrino.

To learn more about our views on the market or to speak with an advisor about our services, visit our Contact Page.

Mar 24th

Whittier Trust Promotes Mathew N.S. Neben and Charlie R. Normandin

Whittier Trust Strengthens Client Service Excellence Within Reno and San Francisco Offices Through Advancement of Distinguished Internal Talent.

Whittier Trust is pleased to announce the promotions of Mathew N.S. Neben to Senior Vice President, Portfolio Manager, and Charlie R. Normandin to Vice President, Client Advisor. These advancements reflect Whittier Trust’s continued commitment to finding and developing top-tier talent and its dedication to providing personalized, relationship-driven wealth management services.

“Charlie and Mat exemplify Whittier Trust’s core values—deep expertise, a client-first mindset, and an unwavering commitment to excellence,” said David Dahl, President and CEO of Whittier Trust. “Charlie’s meticulous approach to fiduciary and financial planning and Mat’s leadership in investment strategy reinforce our mission to deliver highly personalized, long-term wealth solutions.”

Mathew Neben has been elevated to Senior Vice President, Portfolio Manager in Whittier Trust’s Reno office. With over a decade at the firm, Mat manages equity, fixed income, and alternative assets for high-net-worth individuals and foundations. As a member of Whittier Trust’s Investment Committee, he helps shape the firm’s overall investment strategy and conducts in-depth analysis of companies in the Communication Services sector. In his new role, he will continue to refine Whittier Trust’s investment approach while deepening client relationships through customized portfolio management.

Charlie Normandin steps into the position of Vice President, Client Advisor in Whittier Trust’s San Francisco office. Since joining the firm in 2020, Charlie has been instrumental in providing tailored family office services, fiduciary guidance, and financial planning for high-net-worth clients. His keen attention to detail allows him to craft optimal solutions to complex wealth management challenges. In his expanded role, Charlie will continue to deliver strategic financial advice while strengthening Whittier Trust’s client service capabilities in the San Francisco Bay Area.

Beyond their professional achievements, both Mat and Charlie are dedicated to their local communities. Mat serves on the Board of Directors of the Boys & Girls Club of Truckee Meadows, supporting youth development initiatives in Northern Nevada. Charlie is an active member of the San Francisco Estate Planning Council and a passionate advocate for youth organizations, including the Boys & Girls Club. 

Whittier Trust views its employees as the foundation of the firm’s success. By fostering a culture of leadership, collaboration, and mentorship, the wealth management company enables team members to grow both personally and professionally. With diverse experiences and expertise, each team member brings fresh insights and innovative solutions that enhance the client experience. Through ongoing knowledge sharing and professional development, Whittier Trust empowers its advisors and portfolio managers in each office to deliver exceptional service, providing clients with local strategic guidance and personalized wealth solutions to preserve and grow their assets for generations.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Mar 20th

The Advantages of Individual Securities Over Mutual Funds

Individual securities offer powerful advantages for ultra-high-net-worth investors.

If you’ve been investing for a while, at some point you were probably told that mutual funds were not only an easy answer, but also a wise one, promising a strong return with minimal effort and monitoring. This advice is not wrong, but it doesn’t apply to everyone. 

After mutual funds rose to popularity in the bull market of the 1990s, they became a staple of individual retirement accounts (IRAs), which were rapidly replacing traditional pensions. IRAs and other mass-market purposes are exactly what mutual funds are designed for, and they typically perform well toward those goals. But they don’t make sense for investors with the resources to gauge the market on their own. 

“One of the things that differentiates Whittier Trust is our belief that clients should own individual positions versus mutual or co-mingled funds,” says David Ronco, Senior Portfolio Manager at Whittier. “Buying individual securities for our clients allows us to save them money with respect to fees and taxes while creating a customized, transparent investment solution.” 

“As a portfolio manager, I have an in-depth understanding of all major asset classes including equities, fixed income, real estate, and alternatives,” Ronco continues. “For each client’s portfolio, our team hand-picks the best individual investments to meet their goals.” 

Here, Ronco explains four key benefits of owning individual securities.

Customization

Mutual funds are designed to reach a broad cross-section of market participants. “The only customization they offer is a choice between general goals such as growth or income,” Ronco explains. “They don’t take into account your philosophy, your risk tolerance, or the many other factors that can make you a standout investor. They are truly the lowest common denominator of investing.”

Overall Cost

Many mutual funds have high expense ratios, layered on top of wealth management fees. “We call that fee layering, and it’s not an issue with individual securities, which have no embedded fees,” Ronco says. “So right off the bat, moving to individual securities significantly increases the compounding return potential of a client’s portfolio.” 

Tax Efficiency

“Individual securities are also more tax efficient than mutual funds by far,” says Ronco. “Mutual funds are essentially not concerned with tax efficiency. They generate capital gains and losses as they trade securities throughout the year, and they have to distribute those net capital gains evenly to all shareholders, even those investors that didn’t engage in any buying or selling.”

Whittier clients benefit from direct ownership of their holdings, which allows precise control over capital gains enabling flexible tax loss harvesting and tax-free compounding. Our portfolio managers strategically leverage these advantages through constant analysis of client positions, ensuring proactive, year-round tax optimization, not just a reactive approach at tax time.

Transparency

Individual securities offer Whittier clients ultimate transparency so their stakes in specific industries and companies are completely clear. “We can provide detailed, real-time information about every security our clients hold,” explains Ronco. “Mutual funds, on the other hand, are a bit of a black box, often reporting 60 to 100 underlying positions under a single, vague name or symbol.”

Growing Your Portfolio

At Whittier, no two client portfolios are the same, and the individual securities selected by portfolio managers and the Whittier investment team reflect the understanding we have of each client’s assets and goals, built through long-term relationships.

“We help families preserve and grow the wealth that they have worked hard to create,” Ronco says. “I consider it a privilege to share the expertise of our Whittier team and my own in-depth understanding of all asset classes—including equities, fixed income, real estate, and alternatives—to help clients build wealth.”

If you’re ready to explore how Whittier Trust’s tailored investment strategies can work for you, start a conversation with a Whittier Trust advisor today by visiting our contact page.

 

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Mar 13th

Edward Troy Joins Whittier Trust as Senior Vice President

Bringing 13 Years of Wealth Management Expertise, Edward Troy Will Continue to Enhance the Firm’s Legacy of Personalized Wealth Management.

Whittier Trust is pleased to announce the appointment of Edward Troy, CFA, as Senior Vice President and Client Advisor in the firm's Pasadena office. With over 13 years of experience guiding high-net-worth families and institutional investors, Edward Troy brings a wealth of expertise in investment management, tax strategy, and wealth planning.

As the oldest multi-family office headquartered on the West Coast, Whittier Trust has built a legacy of excellence in wealth management, providing personalized investment and advisory services to generations of clients. A hallmark of the firm’s success is its deep bench of expert Client Advisors, who serve as trusted partners in developing tailored solutions that preserve and grow wealth over time. Edward’s addition to the team reinforces Whittier Trust’s commitment to top-tier talent and its dedication to delivering exceptional, relationship-driven service.

“We’re excited to welcome Edward to Whittier Trust,” said Peter Zarifes, Managing Director–-Head of Wealth Management at Whittier Trust. “His ability to blend technical expertise with a personal, relationship-driven approach is exactly what sets us apart. Edward doesn’t just manage wealth—he helps clients build meaningful legacies that last for generations.”

Prior to joining Whittier Trust, Edward served as Vice President at Offit Capital Advisors, where he managed portfolios for multi-generational families, endowments, and foundations. His strategic approach and deep understanding of complex financial landscapes have earned him a reputation as a trusted advisor in the industry.

Edward holds a Bachelor of Science in Economics from the University of California, San Diego and is a Chartered Financial Analyst (CFA). He is an active member of the CFA Institute and the CFA Society of Los Angeles.

Outside of work, Edward enjoys traveling with his wife and children and spending time outdoors with close friends.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

 

 

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Mar 7th

Family Philanthropy Benefits Givers in Surprising Ways — We’ve Seen it Happen

Last year’s National Nonprofit Day was a welcome reminder of the significant impact philanthropic activities can have on communities and the world. But at Whittier Trust we have also witnessed how helping families engage with philanthropy, whether by establishing a nonprofit, a family foundation or forming a philanthropic strategy, can significantly transform family dynamics and relationships, forging and strengthening bonds by a shared desire to do good.

One family we worked with illustrated the power of incorporating philanthropy into a wealth portfolio. To facilitate the creation of a family foundation, our team organized a retreat for the father, mother and their three adult children. The two daughters were enthusiastic about participating but their brother, who was estranged from the family, was less so and only reluctantly agreed to attend. During the retreat, the father became emotional as shared the childhood experiences that inspired him to support vocational training for low-income kids and motivated him to establish the foundation. 

His heartfelt words came as a surprise to the children, who had never seen their father so passionate. It prompted them to open up about their interests and passions. The father’s moment of vulnerability sparked a deeper understanding and connection among the family members, leading to their active engagement in the foundation — including the once-estranged son. Through philanthropy, this family was able to gain a meaningful appreciation for each other and the experiences that shaped them.

While a simple story from a father about why he gives back can inspire family involvement and reconnection, there are benefits derived from family philanthropy.

Values and Succession

Discussions about family members' backgrounds and beliefs help everyone embrace family history and carry forward important values and civic responsibility. Through philanthropic activities, parents can also help ensure that family wealth does not undermine their children's drive for success. 

Life Skills

Deciding on a charitable mission, selecting grantees, creating a decision-making process and determining and evaluating desired impact can be challenging. Making these decisions as a family allows members to research causes they care about, learn to communicate respectfully, make persuasive arguments, appreciate different perspectives and find compromises. Representing your family well in the community ensures every interaction leaves a positive impression on people, grantees, organizations and other philanthropists.

Financial Literacy

By setting a foundation's strategy and mission, family members gain knowledge about investments, financial planning, budgeting, market fluctuations, tax considerations and other financial management practices — including how to understand and evaluate the financial health of organizations they might support. 

Resolving Ambivalence

Family members, especially those who didn't earn the wealth themselves, often have mixed feelings about the family money. Collaborating on how to use the wealth for good can help alleviate these tensions, uniting family members around positive impact.

Togetherness

With wealthy families often dispersed across the country or the globe, philanthropy serves as a unifying force around a common purpose. It encourages family members to come together, visit grantees, observe their work in the community and discuss their experiences.

When families select a cause based on their own experiences, interests and life journeys — as opposed to external influences — they maximize the odds of reaping the benefits discussed above. A family office can help identify each member's passions and develop a strategy that unifies the philanthropic focus and doesn’t seed resentment or frustration. 

As we celebrate National Nonprofit Day, consider how family philanthropy can strengthen bonds, impart valuable life skills and create a lasting legacy. By thoughtfully establishing and managing a vehicle for family giving, families can unite around shared values and make a meaningful impact on the world for generations to come.

Written by Pegine Grayson, JD, CAP®, Senior Vice President and Director of Philanthropic Services as well as Ashley Fontanetta, Senior Vice President and Client Advisor, both in Whittier Trust's Pasadena Office.

Featured in Financial Planning Magazine. To learn more about how Whittier Trust can support you, your family and your legacy through our philanthropic services, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Feb 28th

Thinking of Selling Your Business? Sell Smart

Smart entrepreneurs look far beyond financials.

“The difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next,” Michael E. Gerber wrote in his book, The E Myth. The sentiment applies to entrepreneurs approaching the impending sale of the business they built: They must create the most favorable conditions to achieve their desired outcome, which can go far beyond optimizing the balance sheet and achieving a high valuation multiple.

Business owners are used to looking at all sides of a transaction, and that skill comes in handy with the ultimate transaction–the sale of the business itself. It is vital to consider not only the financial and tax consequences of such a sale, but also the impact on one’s family situation, next generation planning, other business holdings, and charitable giving pursuits. When all is said and done, you want to know that you maximized opportunities, minimized regrets, and positioned yourself for a rewarding next chapter. This doesn’t happen without thoughtful and timely planning.

Keep these three things in mind so that you can sell smart when you sell your business:

1. Enlist help.

Oftentimes, that’s where a certified exit planning advisor can come in to help strategize and execute the steps leading up to, and following, a sale. At Whittier Trust, the oldest multifamily office headquartered on the West Coast, we take a holistic approach that prioritizes investments, family relationships, and tax, estate, and philanthropic planning. By spending time getting to know clients’ needs and goals, we’re able to help avoid obstacles and optimize results. Often, by taking this approach and thinking ahead, we seek to help them achieve the best results possible. We focus on surrounding the entrepreneur with Whittier and non-Whittier professionals who will collaborate to educate, strategize, and help the business owner exercise more control over personal, financial, and business outcomes that might otherwise be left to chance.

2. Look beyond the bottom line.

One way our Whittier Trust team helps entrepreneurial business owners navigate a potential sale is by doing a deep-dive to understand the impact the sale of the business may have on your business goals and your personal life. In addition to fact-finding about the business itself and how it’s structured, the team works to understand the motivations behind why you built the business, why you’re prepared to sell, and how to best achieve your goals for the future. Here are some questions to help get you started:

  • What prompted you to start the business in the first place?
  • Why are you thinking about leaving the business?
  • Do you have a timeline in mind for your exit?
  • What’s your vision of the ideal transition?
  • What personal or business objectives would you like to see accomplished in the transition?
  • How do you expect exiting the company to impact your life?
  • Do you want to stay involved in the business after the sale?
  • Do you expect any family members to remain active in the business?
  • Are you concerned about any family issues?
  • How do you expect your key employees to be impacted?
  • Are you concerned about any employee issues?
  • Do you anticipate any partner or shareholder issues?
  • How important is preserving the legacy of the business?
  • Have you identified a successor(s)?
  • Have you taken steps to formalize a transfer arrangement?
  • What are you most concerned about relative to the transition?
  • Have you had the business appraised in the last 12 months?
  • Have you worked with anyone to evaluate the health of the business?
  • How will exiting the business impact your personal financial situation?
  • Does anyone else depend on the business for income or financial support?
  • Do you currently have a wealth management consultant?
  • Do you have an estate plan?
  • Do you have a plan for optimizing tax efficiency and savings related to the transaction?
  • Have you estimated your cash flow needs after the transaction
  • To what extent do you expect to rely on proceeds of the sale to meet your post-transaction cash flow needs?
  • What are your post-sale goals?
  • Are there any family dynamics that might be a cause for concern when the sale happens?

3. Establish a realistic timeline.

This list of questions isn’t exhaustive, but it’s designed to help uncover risks and planning opportunities that are best addressed months, or even years, before the sale. Understanding your priorities is the first step in maximizing the success of your outcome.

Keep in mind that to increase your chances for a big win, it is essential that you coordinate with your professionals to tailor the results to your needs. At Whittier Trust, we have years of experience working with legal, accounting, and business advisory teams to ensure that the specifics of your deal will focus on the outcomes you seek from a holistic perspective. No two businesses are alike, just like no two families are the same, and we take pride in being the partner business owners can count on to pave the way for the result they want. Clients who have the most successful sales start thinking about the process early and focus on the personal results they want to achieve as well as the financial payout.

To learn more about how Whittier Trust can help you with the transition away from your business, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Feb 21st

Aging: The Overlooked Risk Factor

Elder care is a personal and financial vulnerability many people fail to plan for.

Wealth can shield you from many of the hardships of life, particularly the discomforts of aging. Luxury retirement accommodations, private caregivers, and the best medical care can smooth the sometimes bumpy path of later years.

But money can’t insulate you from the personal complications of aging. Everyone has tough decisions to face and weighty conversations to initiate with loved ones. Having a knowledgeable partner to help facilitate those discussions and transitions is a privilege no one should forego if they can afford it.

“At Whittier Trust Company, elder care is integrated into the continuum of family office services we provide for clients in collaboration with trusted partner companies,” says André B. van Niekerk, Senior Vice President, Business Development. “Quite often, families end up facing complicated care decisions in the heat of the moment, after a hospitalization or other emergency. With our network of expert partners, we help families prepare for the inevitable and manage it when it comes.”

Failure to plan ahead for elder care makes your family vulnerable to financial risk as well as mental and emotional duress. Van Niekerk and his team spoke with one of Whittier’s partners, Barbara Oberman, CEO and President of Senior Living Solutions, about those risks and how they can be prevented or mitigated.

Crisis vs. Preparation

Making a decision in a time of crisis is never ideal. “It can be a trial by fire,” Oberman says. “I was fortunate that when my mother was hurt, I had already set up a plan, and it gave me the ability to act quickly and decisively.” 

Planning ahead with your Whittier team and exploring options for care in advance ensures you can make the most of available resources, such as long-term care insurance policies, which may help cover certain care expenses. Medicare and supplemental insurance primarily cover medical expenses, so understanding these limitations is key to preparing for non-medical or long-term care needs.

Overload vs. Confidence

Assisted living, independent living, board and care, memory care, or caregivers —there’s an entire spectrum of possibilities, and the differences are often hidden in the fine print. Do you need help with meal preparation or medication management? Do you want activities and socialization? Oberman recalls: “One client came to me after moving their father into assisted living. They were genuinely surprised to find he didn’t have someone by his side to take care of him all the time. But that 24/7 type of service only comes with a private caregiver. It was stressful for them to have to fix that mistake.” 

An upfront needs assessment avoids such mishaps by covering all the factors in advance, such as medical conditions, mobility levels, budget, preferred locations, desired activities, and cognition levels. “We’re like a real estate agent,” Oberman says. “We help you identify your needs and wants, then help you navigate the many moving parts until we reach the best solution. We help moderate tough conversations, analyze choices, and even assist in the move to a new place.” 

Liability vs. Expertise

It is important for families to realize that if you hire private caregivers, you become an employer, with payroll and management responsibilities. You must follow labor laws or you could put yourself in financial jeopardy. Homeowners' insurance typically covers visitors, but often doesn’t cover regular household workers. A reputable agency will handle background checks, pay taxes, and provide workers' compensation for caregivers. If you are certain private care is your preference, however, Whittier Trust and a consultant like Oberman can help you with those arrangements.

We can also help find the ideal senior living community. "Many of these communities are part of national chains, but each one is unique,” Oberman explains. “We build relationships with local staff, visit each community in person, and review their history (including any violations or required corrections). Senior living communities must meet state licensing requirements, and we carefully check these reports to ensure they provide high-quality care before making a recommendation. We know all the finer points of each company’s approach and care philosophy, amenities, and costs.” 

Sales Pressure vs. Concierge Service

The last thing you need during this difficult transition time is a heavy-handed sales pitch or dire warnings about waiting lists from a sales rep trying to meet monthly quotas. Your Whittier team safeguards you from such tactics, acting as your advocate in comparing different senior living options so you can make an informed decision without pressure. 

“As part of our concierge service, we go beyond just making recommendations,” Oberman says. “We arrange personal tours of the communities you wish to visit, help you navigate paperwork in advance, assist with negotiations to secure the most favorable terms and services and coordinate move-in arrangements. Additionally, we connect you with trusted professionals to assist with selling your home, managing estate sales, and downsizing. Through our network of senior advisors, we provide personalized support to make the transition as smooth and stress-free as possible. Then we’ll check in after the move to address any concerns and ensure everything meets expectations.”

Chaos vs. Consensus

Procrastination is likely to leave you in turmoil if an emergency arises and you’ve failed to talk to your family about elder care. We know it’s not easy, though, to organize such personal discussions or reach consensus with multiple family members and multiple generations. We can help facilitate these conversations, create a plan and budget and keep it updated for whenever it ends up being needed.

“At Whittier, we’re here to help you manage life’s many stressors while maintaining your family’s security, unity, and overall well-being,” says van Niekerk.

To learn more about how Whittier Trust's family office services can make a difference for you and your loved ones, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Feb 18th

Managing Risk: Consistency Over Uncertainty

A calculated approach to risk management allows investment objectives to be met regardless of the conditions.

Managing risk is one of the most important portfolio management objectives. Risk is simply the possibility that an outcome will differ from what is expected or hoped for.

“Investment risk is like the wind on top of a mountain,” says Caleb Silsby, chief portfolio manager at Whittier Trust Company. “It’s unpredictable and often cannot be seen or even anticipated. The more calm the environment is around you, the less prepared you are likely to be when it hits.”

But with the right guidance and preparation, risk can be managed and planned for in a way that allows investment objectives to be met regardless of the conditions—to be understood rather than feared.

Whittier Trust offers a calculated approach to risk management that has served clients well through many market cycles. “We emphasize three interconnected mechanisms,” Silsby says, “And this trifecta has proven time and time again to generate strong returns for our clients.”

Recognizing the Risk Continuum

Most clients want more return than the bond market but less risk than the stock market. To achieve this outcome, Whittier Trust starts with an investment philosophy centered around owning quality companies. “With high-quality companies, you can own more of a higher returning asset class in your portfolio than you would with riskier, lower quality equities,” explains Silsby. “Whittier’s research team analyzes the history, management, and financials of these companies. When we refer to a stock as high-quality, it means the company has a clean balance sheet, strong management team, lasting competitive advantage, and strong returns on capital deployed.”

Minding the Bear

Correlation is a statistical tool for portfolio managers that indicates the degree to which securities move in relation to one another. Whittier Trust believes that in bear markets, correlations move to one (a perfect positive correlation), and the dollar tends to strengthen. “We are also mindful of currency impacts that often catch unwitting investors by surprise during bear markets,” says Silsby.

Whittier Trust has managed money through multiple market cycles and has seen the commonalities of bear markets. We employ thoughtful portfolio construction that anticipates a risk-off environment where risk assets will tend to move in synchrony. We set up portfolios with the anticipated market shifts in mind, which allows us to plan for the unexpected. During the 2022 bear market, the Whittier investment team anticipated the Federal Reserve’s aggressive interest rate hikes in response to inflation and maintained a constructive outlook despite widespread concerns and panic about a deep recession. Our disciplined approach emphasized a balanced perspective, suggesting that fears of stubborn inflation and severe economic downturns might be overstated. In 2023, amidst significant challenges such as regional bank collapses, Whittier Trust assessed the broader financial system’s resilience, predicting these crises would be “bumps in the road” rather than catastrophic events. This perspective proved revelatory, as markets rebounded, with the S&P 500 delivering a 26.3 percent total return for 2023. By aligning their investment strategies with key economic indicators and maintaining a steady hand, we have reinforced our reputation as a reliable partner in wealth management during challenging market cycles.

Playing the Long Game

Whittier’s formula for managing risk is focused on long-term investments. The market generates returns much more often than it doesn’t, making long-term investments one of the best ways to grow wealth. Silsby advises: “If you can be a long-term, patient investor who avoids being a forced seller, then the true risk to manage around is permanent loss of capital. Such losses most commonly arise through forced selling, uncontrolled equity dilution, or too much leverage.” Forward-thinking investors can ride out market volatility and take advantage of compounding returns, dividend growth, and capital appreciation.

As the oldest multifamily office headquartered on the West Coast, Whittier Trust Company has refined our approach to managing both short- and long-term risks over nearly four decades. As in everything we do, our guiding purpose as fiduciaries is to understand and meet clients’ overall goals and best interests, while working to ensure the resilience of their portfolios. With the long-term in mind, we can help protect clients, their families, and their legacies through uncertain economic trends and market fluctuations with tailored investment plans and our exceptional commitment to personal service.

To learn more about how Whittier Trust has approached portfolio management and managing risk for over thirty years as a multi-family office, start a conversation with a Whittier Trust advisor today by visiting our website.

To learn more about how Whittier Trust's calculated approach to risk can make a difference for your investment portfolio, start a conversation with a Whittier Trust advisor today by visiting our contact page.

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