From Our President – Quarter 1 Newsletter Highlights

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 on 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 lookout 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



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