The Next Chapter 3 2018-06-12T22:59:09-07:00


The Next Chapter explores the ways in which the depth, breadth and expertise of the Whittier Trust team have made a real, lasting difference in the lives and legacies of actual clients. By getting to really know our clients as unique individuals, we go beyond the transactional to develop comprehensive, holistic solutions that ensure that every chapter of life is rich, fulfilling and building on each family’s proud legacy.

An unimaginable diagnosis.
Building a bridge to the future.
What he gave them was priceless.
A forgotten birthday reminded him of what he'd found.

What he gave them was priceless.

The benefits of giving are often found in what you receive.

The quarterly meeting of the family charitable foundation was about to go off the rails. She could feel it. She wanted so much to speak her mind, but she knew that it wouldn’t help.

Jennifer was skeptical when her dad, Frank had formed the foundation a couple of years ago. It was pretty transparent that they were trying to engage with Jennifer and her sister, Molly. The foundation was clearly her parents’ way of trying to bond with Jennifer and Molly and to make up for the years they were focused on building their business.

Despite her skepticism, Jennifer had enjoyed the last two years. The quarterly meetings were always productive and she felt good about supporting an organizations she believed in. Admittedly, Jennifer had also learned a lot about responsibly managing assets. That was not something she worried too much about growing up—now she looked at it quite differently.

This meeting, however, was heading down a familiar path with her dad dominating the conversation—even though they all were supposedly equal.

Jennifer exploded. “Dad, you need to understand that some of these organizations just don’t have the resources to do the level of reporting you’re asking for.”

“Jennifer, we’re not going to just give money away,” Frank shot back. Just as Jen was about in tears, their Whittier Trust client advisor, Erica suggested they take a break. “Frank, can I talk with you for a few minutes?”

Jennifer liked Erica, the foundation had been her idea. Even though she was technically her parents’ financial advisor, she had helped Jen to get her own financial plan in order after grad school. It was nice to have a whole team of people from Whittier Trust’s Family Office to go to when she needed something.

The break lasted longer than anyone anticipated. Erica and Frank had been in Erica’s office the whole time. When the door of the office finally opened, Frank’s demeanor had dramatically changed.

As the meeting reconvened, Frank spoke up. “I’ve made a decision,” he said. “I’m going to step off the board of the foundation and become Chairman Emeritus. I’ll still attend all the meetings, and provide input.” Frank turned to his wife, “Beth, I think it’s time that we let Jennifer and Molly take the lead.” Beth smiled back at him with a surprised nod of agreement.

Jen leaned over toward her dad to ask what had happened. “It was hard to hear, but Erica made me realize that you and Molly were ready to take over,” Frank explained. “Your Mom and I started the foundation so that we all could do something we cared about, together. Now I see it’s your time to shine. Jen smiled and touched her Dad lightly on the shoulder, his newfound confidence was a gift she would prize forever.

We’d love to hear your story.
Call Tim McCarthy at 800.971.3660.

Disclaimer: $10 million marketable securities and/or liquid assets required. Investment and Wealth Management Services are provided by Whittier Trust Company and The Whittier Trust Company of Nevada, Inc. (referred to herein individually and collectively as “WTC”), state-chartered trust companies wholly owned by Whittier Holdings, Inc. (“WHI”), a closely held holding company. This document is provided for informational purposes only and is not intended, and should not be construed, as investment, tax or legal advice. Past performance is no guarantee of future results and no investment or financial planning strategy can guarantee profit or protection against losses. All names, characters, and incidents, except for certain incidental references, are fictitious. Any resemblance to real persons, living or dead, is entirely coincidental.