From Our President – Quarter 1 Newsletter Highlights

Published by Craig Wietz, President
May 4th, 2015

We are all in high spirits at First Rate after recently completing our annual client conference in San Diego. The location, topics, speakers, and group of attendees were all spectacular. The effort and results of all the First Rate team members in the sessions, events, logistics and support were admirable and received a great deal of praise from informal feedback. First Rate values were on display with the pre-conference home build project done with clients in Tijuana with one of our partner organizations, Youth With a Mission. As we have transitioned from a performance-centric to a more holistic wealth management industry-centric conference, there were many topics covered. In summary, the themes and ideas that surfaced were as follows:

  • Goals Based Reporting is a continuing trend but is also being transformed to presenting the advisor as a wealth steward instead of a wealth manager.
  • Compliance and new regulations are challenges that wealth management firms are facing. Technology is an important contributor in overcoming these challenges.
  • Customer focused organization of information and workflow will help advisors deliver a superior and more efficient service.
  • The discussion of risk needs to change from a being volatility based to being a measurement of failing in the mission of the investments.
  • First Rate was able to update and present the attendees the latest progress in these areas. We are grateful to those clients that were able to take the time to learn, build relationships and enjoy the event over the two days. Planning is already taking place for our next conference. Be on the look out for information. As always, we encourage you to attend and structure it in the way to make it very feasible. For example, we do not charge attendees to come to the conference. Our objective is you would walk away at the end of the event with the belief that the time was a valuable investment for you personally as well as the firm you represent. We look forward to another great event next year.

Craig Wietz

Why GIPS? A Perspective on Trust Companies



Join the GIPS experts from The Spaulding Group and First Rate for a special panel session which asks the question: Why Should Trust Companies Think About GIPS? Join our panel on Wednesday, May 6th at 11:00 am (EST) for this free, live event.

Together, David Spaulding, DPS, CIPM from The Spaulding Group, Christian Jaeger of First Rate, Don Hess with PNC Bank and Scott Betz from Scout Investments will address the challenges specific to trust companies including: compliance challenges, your options for complying, what are the trends in this space and you will hear two case studies of how the “GIPS decision” was handled at two different firms.

Time will also be allocated to answer any questions you may have.

Register Now!

*After registering, you will receive a confirmation email containing information about joining the webinar.

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About the Author: Craig Wietz, President of First Rate, has been an integral part of the company since 1995. In this role, he oversees all the business lines, the functions that develop and maintain client relationships, as well as strategic planning and the groups responsible for internal operations. Prior to his current role, Wietz was responsible for the Service Bureau business line and has contributed strategic insights in statement processing, third party data aggregation, model portfolios and benchmark services for First Rate. Connect with Craig via LinkedIn.

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