The Brightwater Wealth Management Group at Morgan Stanley Client-Focused and Target-Based for Excellence in Service
Like the many families and individuals they serve, the financial advisors in The Brightwater Wealth Management Group at Morgan Stanley in Palm Harbor have unique and diverse experience. As a team within the Wealth Management division of Morgan Stanley, the group of seven includes five financial advisors who have worked together in some capacity since the late 90s. What is great about the individuals comprising their investment team is that they respect one another and recognize the strengths that each brings to the planning table. The result is a wealth of knowledge that benefits the varied financial goals of the families and individuals they serve.
Combined, The Brightwater Wealth Management Group provides years of experience in wealth management to their clients, and they have access to the broad scope of resources in evaluating and selecting investments that only an industry leader such as Morgan Stanley can provide. The level of experience and commitment of members of The Brightwater Wealth Management Group is impressive; in fact, the team includes three Certified Financial Planners (CFP®), and two Family Wealth Directors (earned by a very small percentage of Morgan Stanley Advisors).
Target-Based Comprehensive Wealth Management
Focusing on helping clients to invest according to individual goals, The Brightwater Wealth Management Group has created what they term Target-Based Comprehensive Wealth Management, which basically means they seek to find out the long-term financial goals of each client and help them to achieve those goals through varying market conditions. This involves helping clients in three stages of their financial life: Wealth accumulation, the transition period where clients go from saving to creating income during retirement, and the golden years where they prepare for the expenses associated with aging to planning where their treasure goes.
Senior Vice President, Michael J. Scott has more than 30 years of experience in investment management, asset allocation and fixed income securities and has extensive experience in conservative investing and income strategies. “I feel the accumulation years for a client are the most important,” says Michael. “We do a comprehensive interview with the client to determine the long term retirement goals such as income needs, desired purchases such as a boat, RV or a vacation home. We determine their risk comfort, and complete a financial plan to accomplish the goals. This is not a one person process, we work hand in hand with the client’s CPA, Attorney or other parties who can help us increase the odds for a successful outcome.”
Senior Partner, Ted H. Pohl, Certified Investment Management Analyst (CIMA®), Certified Financial Planner (CFP®), Financial Advisor, explains, “As investors, we all have blind spots. Our goal is to help clients identify and avoid those overlooked risks. Most of our clients have surrounded themselves with advisors as they have accumulated their wealth, and we have the experience to help them navigate emotional financial decisions.”
Ted has more than 21 years of wealth management experience concentrating on financial planning, investment management, asset allocation and risk reduction strategies. He says, “Our goal is to help our clients structure their assets to meet their liquidity needs, provide income and grow their asset base to meet their lifestyle, legacy and charitable funding goals.”
Passionate in his role as a credentialed Family Wealth Director, Ted not only helps families structure their financial and estate plans, but also enjoys helping clients pass along the meaning of wealth to their children.He explains, “Often children who inherit the hard-earned wealth of their parents don’t always fully understand the sacri- fices they have made to accumulate it.”
Additionally, family members mature differently and need structures in place to help protect their inherited assets. Erick Swinson, Financial Advisor, brings 16 years of experience in the Financial Services Industry.
As one of the team’s Portfolio Managers he has an extensive background with fixed income research and investment manager analysis. Erick says, “Having access to world class investment solutions is only the beginning. We sort through the numerous investment options, reduce them down to a manageable level, and then build a portfolio that achieves the client’s goals with the least amount of risk.”
This planning often includes business owners. “We help clients to plan 10-15 years ahead for what they want to achieve when they exit from their business,” says Erick.
Charting the Next Course
Today’s retiree is capable of so much more. They have a different attitude and state of mind about what life should look like in retirement. Senior partner Linda Goodson, Certified Financial Planner (CFP®) and Financial Advisor, is a seasoned professional with more than 28 years of experience in the financial industry. She enjoys working with her clients in meeting their personal goals not only during the accumulation stage, but also, during the transitional period into retirement. Linda shares, “One of my most rewarding experiences is when I have been working with a couple for a while, and we finally get to the year they are ready to retire. Helping them make that transition from saving to using the funds we have saved can be a tough, scary transition for many people. It is a great feeling of accomplishment, seeing them comfortable and enjoying their retirement years.” Linda shared an experience, “I have a client who sold his business. One of his biggest goals was to help his children right away.” Keeping his long-term goals and personal needs for retirement in mind, Linda helped him, and he in turn, was able to set his children up in new homes and fund college for his grandchildren. “Now,” adds Linda, “his children have their own businesses and we are helping them to build their personal legacies.”
Wealth retention is a concern for most of The Brightwater Wealth Management Group’s clients, whether that involves cautious investing, passing on assets to future generations, insurance solutions for managing risks, or protecting themselves from catastrophic expenses. The Brightwater Wealth Management Group understands that every family has its own dynamics, its own joys and its own problems, and there are many times when their experience is invaluable in providing comfort when there are difficult financial decisions to be made.
Legacy and Quality of Life in the Golden Years
Financial advisor Daniel C. Richardson brings more than 30 years of experience in Wealth Management to the team and has earned the designations of Family Wealth Director and Certified Financial Planner (CFP®). Dan is skilled in trust and estate planning and says, “I have many senior clients who are concerned about the golden years, I ask them what they want out of retirement and what keeps them up at night. I work with them to put plans into place to eliminate the concerns and I am with them along the way making sure their wishes are granted.”
Sometimes, for Dan, that means going far beyond his duties as an Advisor. One of his clients who passed away has a disabled daughter who needs fulltime care. Concerned, she asked Dan to oversee not only her finances, but also to make sure her daughter receives the quality care she deserves, as a special needs person.
Planning can cover unexpected and expected events and provide cash flow for lifestyle and healthcare needs. Dan says, “I frequently visit my clients in their homes and I work together with their children and caregivers to keep an eye on things; to make sure not only their investments are safe but they are as well.” Assisting the five Financial Advisors of The Brightwater Wealth Management Group are Consulting Group Analyst Jon Cooney and Senior Registered Associate Patricia R. Guillereault, who says, “I really enjoy helping the clients. I find it satisfying to be able to eliminate their stress and find solutions to their problems.”
The Brightwater Wealth Management Group works together closely to provide quality solutions delivered with excellence. Their goal is simple: “We want to be the ones you call when there is a financial decision to make. We want to simplify the complexities of managing your financial life.”
The Brightwater Wealth Management Group at Morgan Stanley is located at 4114 Woodlands Parkway, Suite 200, in Palm Harbor. Please call (727) 773-4622 to schedule a consultation or for more information.
Investment Management Consultants Association, Inc. owns the marks CIMA®, Certified Investment Management AnalystSM (with graph element)®, and Certified Investment Management AnalystSM. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the US. ©2016 Morgan Stanley Smith Barney LLC. Member SIPC.