The Next Chapter 4 2018-06-12T22:37:06-07:00


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.

Success can bring joy, Fulfillment and lots of financial responsibilities.

Ryan took a long step off the curb over the gutter. It wasn’t raining, but the runoff from the heavy mist was enough to produce a good puddle of black watery sludge and make everything damp. He walked around the front of his car and peeled the parking ticket off the windshield. Earlier, as he filled the meter to the max, he had said to himself that there was no way the meeting will take more than two hours. It had taken three and a half.

The meeting was about his latest venture. It was the third startup he had founded, but these VC meetings had not gotten any easier. His first company had been wildly successful. The second one, not as much. But, he had a really good feeling about this one.

The grilling he’d just taken from the venture capital firm hadn’t deterred his confidence. Hearing them say they’d like to see more “traction” was a little like hearing he had a great personality. He knew “traction” was subjective. He would be better off finding a firm that believed in the business model. That meant many more three-hour meetings.

He sat in the car and scrolled through all the texts, calls, and emails that had piled up. The prototypes were delayed again; the anchor customer still hadn’t signed the agreement, and the product packaging had a typo. Awesome. He connected his phone to the car speaker and clicked on the voicemail from his financial advisor at Whittier Trust.

“Ryan, it’s Jordan from Whittier Trust. A couple quick things… there were a few monthly bills that hadn’t been paid, so I took care of those. Also, I noticed the water bill at the rental was really high, so I sent someone out to take a look. Turns out the water heater was leaking. No worries, the damage wasn’t too bad. We’re getting it fixed and working with the insurance company on the claim. One last thing, let’s find some time to get together soon to talk about rebalancing your investment portfolio. Oh, and by the way, Happy Birthday. I hope you enjoyed the day.”

Ryan closed the message and laughed out loud. He’d forgotten his own birthday.

The call made Ryan reflect on the fact that before Whittier Trust, he thought family offices were for, well, old people. It was at the recommendation of one of his board members that he had reached out to Whittier Trust. His opinion of a family office, like his relationship, had grown into so much more than what could have ever first envisioned.

When Ryan was a kid, he loved reading. Obsessed with books actually. His parents would stand right next to him telling him to go to bed, and he wouldn’t hear a single word. Ryan tapped into that same focus when starting new companies. It’s probably what led to his success.

Success took the form of a very lucrative exit from his first company. Ryan realized that while he was great at starting and running companies, his own finances were like that parent standing next to him telling him to go to bed. He found comfort in the fact that Whittier Trust focused on the daily details of his finances, as well as managing and growing his wealth. It allowed him to focus on his passion—building companies.

Whittier Trust’s Family Office helped him meet the day-to-day demands of managing his financial affairs, coordinating with his attorney and accountant, centralizing his financial records in a single location, and providing customized reports. Over time, the services he took advantage of, grew along with his needs. Things like bill payment, payroll services for household employees, real estate management, insurance reviews, cash flow analysis, fund transfers and tax planning were practically on autopilot.

With success, it became clear that Ryan’s wealth had outgrown the perceived advantages of a mutual fund portfolio. He also found that the negative impact of taxes meant he needed an advisor who understood not just making money but keeping it. Ryan slept well knowing that Whittier Trust was on top of his stock and bond investments, his real estate portfolio, and proactively working to minimize his tax burden. Whittier Trust had even provided access to private equity and venture capital funds and managers—they had participated in his last startup and were on the target list for this latest venture.

The breadth of services that Ryan could tap into was seemingly infinite through Whittier’s concierge service that assists with things like healthcare, managing aircraft, and watercraft. The services Whitter provides will keep up with Ryan’s evolving needs over the years when the time comes—they can provide coordination of family meetings, wealth education and integrate philanthropy into his legacy planning.

The team at Whittier Trust took care of every aspect of his finances and kept an eye on the long-term. He knew he would have other successes, but having someone take care of the details of managing his wealth while he got there, was liberating. It let him focus on finding that next investor and keeping track of more important things, like his own birthday.

Ryan smiled as he pulled away from the curb and called his product team to check on the prototypes.

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.