Aspire. Pursue. Realize. The Fleet Private Clients Group

Transcription

1 Aspire. Pursue. Realize. The Fleet Private Clients Group

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3 Dedicated to the pursuit of excellence The Fleet Private Clients Group is a specialized division of Fleet with capabilities designed to meet the needs of individuals like you, with substantial assets or income. Our clients work with experienced and dedicated Relationship Managers who will coordinate a specialized resource team, which may include Investment Officers, Lending Specialists, Estate Planning and Trust experts on your behalf. Providing our clients with exceptional customized service is our highest priority. Please take a few moments to learn more about the Fleet Private Clients Group in the pages that follow. We invite you to contact us at for additional information on how we can best serve your needs. TABLE OF CONTENTS 2 Investment Management Services 3 Retirement Wealth Management 4 Estate Planning and Trusts 5 Customized Lending Services 6 The Private Client Account 8 Business Owner Services

4 INVESTMENT MANAGEMENT SERVICES At the Fleet Private Clients Group, we recognize that each client represents a unique combination of financial objectives, family situations, risk profiles, tax concerns and liquidity needs. So we take a highly personalized approach to managing your portfolio. Fleet Investment Advisors Through Fleet Investment Advisors, you will benefit from an extensive investment research capability. We have made a substantial investment in the talent and technology needed to provide proprietary insight and analysis to our asset management capabilities. In keeping with a tradition of stability, Fleet Investment Advisors follows a disciplined, long-term investment approach to help you achieve the appropriate balance between risk and return under all market conditions. Personal Approach A Relationship Manager will coordinate a team of investment professionals who assume personal responsibility for the establishment of your specific investment guidelines and the execution of your strategy. Your team will include an Investment Officer, who will oversee your assets, monitor your portfolio to ensure that it remains appropriate for your goals, and evaluate the tax implications of every investment decision we make on your behalf. Strategies shaped exclusively by your objectives Additionally, we offer a range of alternative investment opportunities, such as private equity for very sophisticated clients with substantial assets. Our experts will be happy to discuss suitability requirements for these alternative investments. In addition, our Quick & Reilly brokerage affiliate may be particularly valuable if you prefer to manage a portion of your assets yourself. Investments including stocks, bonds, mutual funds, annuities and insurance products: ARE NOT ARE NOT BANK MAY LOSE FDIC-INSURED GUARANTEED VALUE 2

5 RETIREMENT WEALTH MANAGEMENT Your retirement portfolio represents a unique class of assets: the product of years of hard work, diligent investing, and tax-deferred accumulation. Whether you choose to convert all or part of these assets into income, or to pass them along to future generations, missteps can trigger costly taxes and penalties. Our Retirement Wealth Management specialists are nationally recognized experts who can help you develop a personalized strategy for managing, accessing and transferring your retirement assets while preserving all appropriate tax benefits and avoiding needless penalties. Protecting and preserving tax-advantaged assets Many of our clients begin working with our specialists long before they retire. In concert with your Relationship Manager, our experts can help you arrange for the tax-protected transfer of assets when you retire or move to another corporation or firm. Using proprietary tools like Fleet s Rollover Beneficiary Analysis, our experts can help you make critical distribution decisions that can have a significant impact on the growth and taxation of your assets. And most importantly, using innovations like our exclusive Multi-Generational IRA SM, we can structure an approach that effectively extends the life of your IRA beyond your lifetime. Of course, these retirement capabilities coordinate precisely with all the other resources of the Fleet Private Clients Group. Your retirement portfolio will be expertly managed by Fleet Investment Advisors, and integrated into a much broader estate planning and trust strategy. 3

6 ESTATE PLANNING AND TRUSTS Carrying forward your most personal aspirations It may take decades to realize some of your life s most important goals. Following through on your commitments to yourself and your family requires focused planning today and may require a trusted resource to act in your absence. As one of the nation s most experienced trust organizations, the Fleet Private Clients Group offers you the combination of technical and investment expertise required to shelter your estate from unnecessary taxes, and to minimize the disruption created by transferring or distributing assets. A Relationship Manager and Investment Officer work in tandem to design and implement a wealth preservation and growth strategy to meet your needs. Our experts will work with your attorney, accountant and other advisors to help define your objectives, position your assets to minimize probate requirements and taxation, and design an appropriate estate plan and trust structure. If you have philanthropic goals, we can show you how to achieve current tax benefits while putting assets to work for the near-term benefit of your family and the ultimate benefit of a charitable organization. If the idea of a trust or foundation seems cumbersome, your Relationship Manager can explain the advantages including current tax deductions of the Fleet Charitable Gift Fund. Estate planning and trust issues are as personal as they are complex. A discussion with the Fleet Private Clients Group could help set your mind at ease and uncover opportunities for tax management that you may not have recognized. 4

7 CUSTOMIZED LENDING SERVICES At the Fleet Private Clients Group, our approach to personal credit is not only expert but strategic. We view credit as a tool that can be applied to achieve a broad range of objectives, beginning with traditional purchases and extending far beyond them. Properly structured within the overall context of your financial affairs, borrowing can enhance liquidity, maximize investment flexibility, and minimize tax liability. You will have access to a comprehensive array of credit resources, from personal lines of credit and jumbo mortgages to bridge loans, margin loans and stock option lending. Your Relationship Manager will see that your day-to-day borrowing needs are met responsively, efficiently and with minimal paperwork. Of special value to our clients is our ability to structure credit-based solutions to meet more complex needs. For example, we can provide liquidity in instances where the sale of an investment may disrupt a portfolio strategy or create an ill-timed realization of capital gains. In the case of concentrated portfolios or restricted stock, we can structure derivative-based solutions that provide liquidity for diversification, major purchases or simply the enjoyment of your success. Building on a thorough understanding of your investment and tax situation, your Relationship Manager can offer you borrowing solutions that are uniquely suited to your expectations and needs. Structured solutions that maintain liquidity and minimize taxes 5

8 THE PRIVATE CLIENT ACCOUNT A powerful solution for managing your finances The Private Client Account is an exceptional asset management tool designed exclusively for our clients. It offers convenience, flexibility, and access to the information you need to manage your finances effectively through a comprehensive financial statement. Maximum Convenience Within the Private Client Account, you may choose to integrate some or all of your Fleet accounts not just everyday banking products like checking, savings and personal loans, but also mutual funds, brokerage, trust and investment accounts all into one easy-to-manage financial statement. Comprehensive Financial Reporting Each month, you will receive one convenient statement that will provide you with a consolidated and comprehensive view of your personal finances. Your Private Client Account statement will also allow you to monitor your asset allocation, cash flow and the progress of your investments. Your statement will provide all the information you need to review and track your finances and financial goals including: Summary pages that graphically present your entire financial portfolio at a glance Detailed pages that explain activity for each of your Fleet accounts 6

9 Preferred Benefits You will also benefit from significant savings and preferential pricing on many services you use every day: Preferred rates on Money Market Accounts, CDs and certain loan products A no-fee Fleet Gold Total Access Card for use at ATMs and merchants A no-fee Fleet Platinum MasterCard* Use of non-fleet ATMs, including International ATMs with no charge from Fleet HomeLink Online Banking with no-fee online bill payment Preferred Service As always, a Relationship Manager is available to personally assist you in customizing your Private Client Account to meet your individual needs. You will also have access to a dedicated telephone banking specialist 24 hours a day, 7 days a week for deposit account information, balance inquiries and transfers. * Subject to credit approval. 7

10 BUSINESS OWNER SERVICES Resources focused on your special concerns For many of our clients, their largest financial asset is an interest in a business or partnership. In addition to Fleet s full range of corporate banking capabilities, the Fleet Private Clients Group has experts dedicated to working with private company owners in special areas such as succession planning and ownership transitions. In particular, the Fleet Private Clients Group working with Fleet Corporate Finance can provide a comprehensive approach to the issues surrounding strategic transactions such as a merger, acquisition or sale. Together, the Fleet Private Clients Group and Corporate Finance can advise you on potential partners, deal structuring and offer uncommon expertise in the complex area of private business valuation. Throughout the transaction, our wealth management experts will develop and implement investment strategies tailored to maximize the value of the liquidity event for you and your family. Planning for the legacy of your business is undoubtedly one of the greatest challenges you face as a business owner. The Fleet Private Clients Group has the proven experience to help preserve the value of your business as an ongoing concern, assist with interim management, and prepare your business for sale. Clearly, the resources we provide are highly customized to the needs of each business. If an orderly transfer of ownership concerns you, we will be glad to arrange an appointment with a Fleet Private Clients Group specialist. 8

11 The path you take, the cause you champion, and the future you envision are all very personal decisions. At the Fleet Private Clients Group, we look forward to providing you with the resources and the expertise to support your choices. Personalized client service is our primary focus. We will convey that special dedication to you in every aspect of our service. Our ongoing objective is not just to meet your needs, but to anticipate them not just to meet your expectations, but to exceed them. To aspire, pursue and realize your dreams We hope this introduction to the Fleet Private Clients Group has been helpful. If you have any questions, please feel free to contact us at We welcome the opportunity to serve you, and look forward to helping you realize your goals.

12 Member FDIC Fleet is a registered mark of FleetBoston Financial Corporation All rights reserved. FBF-PCG-PR-BR-4/00