Tag: Family Office

Nov 12th

The Leadership Imperative

Identifying and onboarding your next-generation executive.

A role in the family business isn’t necessarily a birthright. It is, however, a responsibility, and one that requires careful consideration on both sides. It’s possible your children don’t have the same talents and ambitions as you, but they may bring other interests and skills to the table. More importantly, your employees are counting on the company’s continued success and longevity. A potential role should be aligned with the individual’s unique goals and the long-term needs of the company.

Your child may be a “chip off the old block,” but it is unfair to assume they will be successful in the same ways you have been. Family expectations can cause undue pressure all around, possibly pushing people into positions that aren’t beneficial for the company or the individuals. You may wonder if it’s even possible for your successor to live up to your standards. Conversely, many young people are overconfident and may think the entrepreneurial “secret sauce” is already in their genes, not realizing how much work is required.

Knowing that each situation is unique, we have witnessed enough of these exchanges to have formed some helpful tips. Here are five strategies to help you prepare the next generation for the opportunity to lead your family business.

Start Young

It’s never too early to expose children to the business. However, your initial approach should be informal. You don’t want to create the expectation or assumption that your offspring will become CEO someday. The goal is simply to gauge each child’s interest and encourage open dialogue about the potential role they might play.

It’s important to be honest and discuss all possibilities without any expectation that your child will continue the family legacy. The goal is to empower (not pressure) them into a role that fits. Encourage them to start with internships or summer jobs. Remember, there are plenty of roles other than CEO that might be the best fit for them. You want to create a space where you can have open discussions about their interests, knowing those interests are likely to change with maturity and experience.

A good place to start is by looking for opportunities to take your child to work. One of my clients at Whittier Trust shared how when her kids were young, her son loved watching factory operations, while her daughter was intrigued by negotiations with vendors. Early on, each of them displayed curiosity that would later become more apparent interests aligned with their personalities.

Tell Your Story

That same client was also open with her kids about owning and operating a business. She wanted to be sure they understood the risks, rewards and personal sacrifices of entrepreneurship.

Talking about your origin story and lessons learned can be an approachable way to teach the next generation, while also assessing their thinking and problem-solving skills. How were you inspired to start your business? Who helped you? What opportunities did you seize along the way? What setbacks and failures did you overcome? After all, no career follows a perfectly straight path.

Sometimes we forget to tell those closest to us about the milestones that have shaped us. Storytelling can be a powerful way of including family in the business and understanding where they might fit.

Use Philanthropy as a Training Ground

Another way to build valuable skills that may apply to your family business is to involve your children in your family’s philanthropic efforts. Philanthropy draws on the same skills used in business, just applied in a different context. Making decisions around charitable giving is a safe way for family members to learn business concepts and gain experience in vital skills, such as reviewing financial statements, managing cash flow and analyzing the strengths and weaknesses of an organization prior to making an investment. It can also enhance your company’s values and reputation.

Philanthropy helps teach values in addition to skills. Another client recently told me their whole family discusses which organizations they’re going to contribute to and why. She said, “Each of our teenagers has to explain their thought process and confidently support their position.” This simple exercise helps the family to connect in a meaningful way, while providing a platform for younger generations to demonstrate their critical thinking skills and receive feedback from their elders.

Your financial advisors can be useful partners in setting up a family foundation, donor-advised fund or other philanthropic account. At Whittier, for example, we work with families to set charitable objectives that allow younger members to demonstrate increasing levels of responsibility and accountability.

Weave Mentoring Into Everyday Life

Never underestimate the value of kitchen table talk. Even a casual chat can give your family member a window into your work while letting you see how they think and respond. One client described a challenge he was facing at work over a cup of coffee with his daughter, then asked her, “If you were in my shoes, what would you do?” He was thrilled to report back that he’d had a big success with one of the creative ideas she’d proposed.

Non-family members can also be critically impactful mentors. Look for valued staff, friends and consultants who not only could be willing shepherds for your progeny, but also want to be.

A non-family mentor may also be the person most likely to run the business in the future. Creating bonds between your heirs and future company leadership before the idea of succession is in play can circumvent the awkwardness or frustration that may occur if a child feels passed over for the position. If the future leader has mentored your heir, there’s a better chance of mutual respect and support. This might naturally evolve into having an outside hire, such as a COO, succeed you in managing the business while your family members take on other meaningful roles within the company.

Prevent Sibling Rivalry

Wealth distribution can be a tricky topic when a family business is involved. For example, a child working in the business may receive a larger share of revenue than their siblings when the business is sold. It’s important to have honest and transparent conversations about wills and trusts with the whole family.

As a witness to many of these conversations, I strongly urge you to consider having your advisors and attorneys assist as facilitators. An experienced advisor can apply the lessons of past generations to help you usher in the next.

Published in Family Business Magazine.

Written by Ashley Fontanetta, Senior Vice President, Client Advisor at Whittier Trust. Based in our Pasadena Office, Ashley specializes in philanthropic planning and administration.

If you’re ready to explore how Whittier Trust’s family office can work for you, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Nov 4th

Whittier Trust Makes History as the First U.S. Company Recognized by the Society of Trust and Estate Practitioners (STEP) as a Platinum Employer Partner

This prestigious designation celebrates Whittier Trust's global leadership in developing top-tier trust and estate advisors and sets a new benchmark for client-focused professional excellence.

Pictured: Greg Custer, Jeff Aschieris, Philip Cook, as well as Ejike Agubor and Rob Thompson with STEP

Whittier Trust, the oldest multifamily office headquartered on the West Coast, today announced a historic achievement: the wealth management company has been named a Platinum Employer Partner by the Society of Trust and Estate Practitioners (STEP). In earning this distinction, Whittier Trust becomes the first U.S.-based firm to receive the prestigious designation, recognizing its industry-leading commitment to trust and estate advisor development practices.

This recognition underscores Whittier Trust’s dedication to excellence in client service. STEP’s Employer Partnership Programme (EPP) supports employers who prioritize professional development as a means to enhance the quality of advice and guidance provided to clients. By embedding continuous learning, reflective practice, and leadership-driven knowledge sharing across the firm, Whittier Trust ensures its professionals are equipped to deliver thoughtful, sophisticated, and tailored solutions for families and individuals managing complex wealth.

“At Whittier Trust, our ultimate goal is to serve our clients at the highest level,” said David Dahl, President and CEO of Whittier Trust. “Being named STEP’s first U.S.-based Platinum Employer Partner is an incredible honor and a meaningful milestone for our company. It reflects the dedication of our team and the value we place on deepening our expertise to better serve every client we work with.”

STEP, a global professional body with more than 22,000 members, fosters excellence in the trust and estate profession by connecting practitioners, sharing best practices, and promoting high professional standards. Platinum Employer Partners meet the program’s most rigorous standards, demonstrating leadership in professional development and a clear commitment to improving the client experience through well-trained, highly knowledgeable staff.

Whittier Trust delivers on this commitment through tailored mentorship programs, robust professional development, and leadership that actively shares knowledge, all of which directly enhance the quality of service delivered to clients by ensuring their advisors are informed, skilled, and equipped to meet complex trust and estate needs.”

“This recognition reflects the collaborative effort of our entire team,” added Dahl. “By continually enhancing our knowledge and expertise, we strengthen our ability to anticipate client needs, navigate complex planning challenges, and provide the thoughtful guidance our families and partners rely on.”

Whittier Trust joins a global network of Platinum Employer Partners recognized for advancing both professional development and client service excellence.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Oct 28th

Whittier Trust Recognized as One of the Best Places for Women to Work in Northern Nevada

Whittier Trust’s Reno office honored by Nevada Women’s Fund for creating an empowering workplace culture and advancing opportunities for women through education, purpose-driven work, and family-first values.

      

The Whittier Trust Company of Nevada has been recognized by the Nevada Women’s Fund (NWF) as one of the Best Places for Women to Work in Northern Nevada in the NWF’s inaugural regional survey. The recognition highlights Whittier Trust’s ongoing commitment to fostering an inclusive, supportive, and empowering workplace for women in the wealth management company’s Reno office.

With this honor, Whittier Trust also earned special recognition in three key categories:

  • Empowerment Through Education: This recognition reflects Whittier Trust’s investment in continuous learning and professional development, ensuring every team member has opportunities to advance their expertise, leadership, and career growth.
  • Empowerment Through Purpose-Driven Work: This category highlights the company’s focus on meaningful, values-based work that connects employees to a larger purpose: serving families, foundations, and communities with integrity and long-term perspective.
  • Empowering Families: A Family First Workplace: This honor acknowledges Whittier Trust’s belief that strong families, both within the company and among the clients it serves, are the foundation of lasting success.

Whittier Trust was also recognized for its contributions to the Nevada Women’s Fund at the organization’s annual Celebrating Achievement Scholarship Dinner, where team members from Whittier Trust’s Reno office represented the company and met scholarship recipients from the University of Nevada, Reno. The event celebrated women pursuing higher education and leadership opportunities across the state, values deeply aligned with Whittier’s own commitment to empowerment and community advancement.

“These recognitions are a reflection of our people and the values that guide how we work together across all of our offices,” said David Dahl, President and CEO of Whittier Trust. “At Whittier, we believe that empowering women and fostering purpose-driven growth strengthens not only our team, but also the clients and communities we serve. We’re honored to be recognized by an organization that continues to make such a profound impact across Northern Nevada.”

The Nevada Women’s Fund’s Best Places for Women to Work in Northern Nevada survey, conducted for the first time this year, highlights organizations that exemplify inclusive leadership and equity-focused practices. Participating employers represent a collective workforce of more than 33,000 employees across Northern Nevada. Founded in 1982, the Nevada Women’s Fund has awarded more than $10.5 million in grants and scholarships to advance educational and career opportunities for women in the region.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Oct 16th

How Family Governance Protects Generational Wealth

Clear communication and structure are essential for high-net-worth families to protect their assets.

Even the best players need a coach—and a playbook. For ultra-high-net-worth families, that playbook, called family governance, is the key to successfully stewarding wealth and family businesses from one generation to the next.

Of course, each family is unique, so there are no set plays. But advisors at a multi-family office have the coach’s advantage of seeing the entire playing field, observing interactions, knowing which players to call in for different situations, and enlisting trusted experts to keep everyone in top form and build a strong team culture. 

To create strong, functional family governance, it’s vital to take four key steps (in this order, since subsequent steps build on the previous ones): 

Step 1) Establish a shared vision and mission.

Some families already have a mission statement for their business, but they've never articulated a personal mission from a family standpoint. Creating shared objectives is crucial to ensure that all family members are aligned, and it’s often helpful to have an unbiased advisor who individual family members can speak to in private. 

Step 2) Create a family governance structure.

Once shared values and goals have been identified, families can start to create a more formalized structure to guide future decision-making. This may include a family council or board of directors as well as policies, procedures, and practices for successful communications. It could even take the form of a family constitution.

Step 3) Develop a family education program.

A customized financial literacy program can bring the next generation or new family members (such as spouses) into the fold and help them take an active role in wealth management discussions. Depending on what level is needed, advisors can provide tailored lessons to cover everything from managing credit card debt to hiring guidelines for those working in the family business. 

Step 4) Set up your family office.

If your wealth is causing infighting or confusion, or your business is strained by family dynamics, it’s probably time to offload personal matters to a family office. Some ultra-high-net-worth individuals create their own single-family, brick-and-mortar office with staff and resources they personally oversee. Others choose a multi-family office solution that provides comprehensive services to multiple clients at a time. The latter offers a much more economical structure and has the advantage of more resources and a broader perspective. 

Working with Advisors to Create Structure: A Case Study For Why It Matters

Not long ago, a new client at Whittier Trust asked us to manage the investment of $32 million in earnings from their family manufacturing business. Soon after, they requested help with their personal finances as well. As part of that process, our team was doing an estate plan review and identified a major issue. With nine family members involved in the family business, significant shares of the company would change hands if anyone died—enough to potentially destroy the business. Yet each of them had created their own separate estate plans without considering these ramifications.

We discovered that some of the family members weren’t even on speaking terms, so repairing those dynamics had to be the first priority. After selecting one of our consultants to mediate, each family member got to speak their mind and share their individual concerns. In the meantime, the Whittier team was working behind the scenes with the estate planning attorneys. We eventually got all family members, attorneys, and consultants to the table to discuss business succession, which seemed like a small miracle.

Three generations were working in the family business and had established a rule that no one could own shares unless they worked there. One of the brothers had four children, none of whom worked for the family business, so none of his ownership could be passed down when he died; it would have to be bought back by the company. Another sister had no kids and planned to donate her shares to charity through the family foundation. But because of the buy/sell agreements, the company would have to buy those shares. 

Under the current structure, we showed them that there wouldn’t be enough cash on the balance sheet to buy all the shares within their natural lifespans. The company couldn't survive. It was a jaw-dropping moment for them to realize their structure was not sustainable. 

In the end, they all made a decision to move forward collectively as a family unit and align their estate plans. The business is no longer in danger from the necessity of buybacks and can continue to thrive. And we got word later that all three generations went on a family ski trip together, something they hadn’t done in 15 years. 

This is why, putting on our coaches’ hats, we remind clients that each of the four steps is essential: creating a shared mission, structure, education plan, and family office. Since 1989, Whittier Trust has used this model to help wealth generators pass down their assets and businesses with confidence to their children and grandchildren. Establishing solid family governance practices takes time and patience, but once the standards are developed, they can last for generations.

Featured in Family Business Magazine.

Written by Brian Bissell, Senior Vice President and Client Advisor at Whittier Trust. Brian is based out of the Newport Beach Office where he provides a full range of wealth management, family office, philanthropic, real estate, and trust services.

To learn more about how a multi-family office can help steward your family's wealth, start a conversation with a Whittier Trust advisor today by visiting our contact page. 

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Sep 30th

The Wealth Equation: Balancing Money and Stress

Don’t let assets be a liability that strains your family.

Ultra-high-net-worth (UHNW) families have no shortage of options when it comes to who manages their investments. They can engage with a private bank, hire a financial advisor, enlist a multi-family office, or start their own single-family office with dedicated staff. The challenge is finding a lifestyle-compatible solution that optimizes not only immediate returns but also future benefits for generations to come.

“You want a partner that turns wealth into an asset instead of a liability,” says Jay Karpen, a Vice President and Portfolio Manager with Whittier Trust. “That means managing wealth in a way that brings family together rather than driving it apart, that brings peace of mind rather than stress, and that enhances your values rather than detracting from them.” At Whittier Trust, our multi-family office approach is designed to create a meaningful difference in all aspects of your wealth, family, and legacy, paving the path for whatever endeavors you, your children, or grandchildren choose to pursue.

The Multi-Family Office Model

Multi-family offices employ professionals with expertise in investments, philanthropy, administrative services, and, in some instances, trusts and estates. These firms are set up to support the family and subsequent generations, helping preserve multi-generational wealth and family values. 

“You have to be careful, though,” Karpen advises, “because many multi-family offices are simply financial advisors without the resources or experience to provide high-touch service or the ability to handle complex estates and taxes. They might miss important tax-saving opportunities through thoughtful estate planning or the advantages of asset location, making sure the right types of assets are in the correct accounts.”

Whittier Trust is the best of all worlds: a multi-family office that offers a single-family office experience with the resources of a large private bank or financial advisor as well as trust and estate services. Each client has their own team, including a portfolio manager, investment analyst, client advisor associate, and a client advisor, who, on average, has only 30 client relationships. “At competitors’ offices, the client advisors are typically juggling hundreds of clients,” Karpen says. “You’re not going to get a high-end experience with a ratio like that.”  

The Whittier team ensures each client receives a customized solution to meet their unique circumstances, as well as the time and attention they deserve so that their wealth never becomes a burden. “A client recently asked us to evaluate a private technology investment opportunity,” Karpen says. “My team collaborated with our technology analysts, private market experts, and industry professionals in our network to underwrite the company and consider how this venture would fit within the goals and objectives of the client's portfolio. We’ve all been pleased with the outcome, which is aligned with the client’s portfolio goals.” 

Whittier’s ideal size is a strategic advantage, allowing us to pool resources and best practices across the hundreds of families we work with, while maintaining close personal relationships with them. “We can, for example, leverage the firm's relationships to identify attractive investment opportunities or obtain institutional lending rates for loans,” Karpen explains. “Frequently, we work with longstanding lenders to structure a deal for a client when everyone else is either too expensive or too restrictive.”

The Single-Family Office Alternative

UHNW families often choose to open their own single-family office because it offers prestige, control, and customization. But setting up a custom office can be a double-edged sword, introducing significant complexity and expense. The family must lease office space and manage staff, yet may still need to outsource certain functions beyond the scope of the in-house employees. It’s an excellent solution for anyone who enjoys being at the center of a hub of activity, with near-daily decision-making, but not for someone looking to step back from work and stress.

The Private Bank Option

Partnering with a private bank alleviates any worries about hiring your own financial advisors and service providers, and banks can also sometimes help with specific issues such as taxes and real estate. Unfortunately, private banks are often conflicted, pitching proprietary products as solutions, which typically carry embedded fees and unnecessary complications. Additionally, since they are a bank, they are subject to strict bank regulations and corporate objectives that might result in a degradation of service (e.g., public banks trying to meet earnings) and are susceptible to bank runs, as we saw with First Republic Bank and Silicon Valley Bank in 2023.

A multi-family office combines the advantages of a single-family office and a private bank or financial advisor, keeping the control in the client’s hands without the day-to-day responsibilities that impede their true passions, such as travel, philanthropy, and family. Whittier Trust, the preeminent West Coast multi-family office, delivers best-in-class services for UHNW families who are looking for that ideal balance for today, tomorrow, and beyond.

If you’re ready to explore Whittier Trust’s family office services, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

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Sep 23rd

Whittier Trust Ranked Among Washington’s Best Places to Work

Whittier Trust's Seattle office honored for exceptional workplace culture while celebrating 60 years in the region and 25 years serving local clients.

Whittier Trust’s Seattle office has been named one of the Best Places to Work in Washington in 2025 by the Puget Sound Business Journal. This is a testament to the wealth management firm's strong culture of client service, innovation, and collaboration.

"Being recognized again as one of Washington's Best Places to Work is a testament to the dedication of our people," said David Dahl, President and CEO of Whittier Trust. "Our culture is one of our greatest strengths, and the key to our success is our employees. We know that it is our culture that allows us to consistently exceed the goals and objectives that our clients and their families expect. This honor reinforces our core belief of putting people first, both in our firm and in the communities we serve."

For 25 years, Whittier Trust's Seattle office has served clients in the Pacific Northwest, building on the firm's 60-year legacy in the region. Whittier Trust is deeply committed to community engagement, supporting local institutions and philanthropic initiatives.

"Our team is proud to continue Whittier Trust's long-standing presence in the Pacific Northwest," said Nick Momyer, Senior Vice President, Senior Portfolio Manager, and Northwest Regional Manager. "We see ourselves not just as wealth advisors, but as active partners in strengthening the families we serve and in strengthening our community. That sense of purpose is what makes our workplace so special."

As Whittier Trust celebrates its sixth decade in the Pacific Northwest, the multi-family office remains dedicated to a legacy of providing trusted, personalized wealth management and family office services, all while honoring a commitment to the communities Whittier Trust calls home.

If you're interested in a career at one of the top workplaces in Seattle, visit our Careers Page to learn more and find a position that may fit you.

For more information about Whittier Trust's wealth management and family office services, start a conversation with a Whittier Trust advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Sep 18th

Whittier Trust Promotes Jessica Guzman and William Dodds to Vice President

Whittier Trust Celebrates Rising Leaders Jessica Guzman and William Dodds, Highlighting the Firm’s Commitment to Developing Next-Generation Talent.

Whittier Trust, the oldest multifamily office headquartered on the West Coast, proudly announces the promotions of Jessica Guzman and William G. Dodds to the roles of Vice President in the firm’s Newport Beach office and Seattle office, respectively. Both are recognized for their dedication to delivering comprehensive wealth management solutions and building lasting relationships with clients and their trusted advisors.

“Will and Jessica exemplify the kind of leadership, professionalism, and client focus that define Whittier Trust,” said David Dahl, President and CEO of Whittier Trust. “These promotions recognize their contributions and the meaningful impact they make every day for the families we serve. Our mission is to serve families for generations, and developing professionals who combine expertise with genuine care is key to achieving that mission.”

Jessica Guzman

Jessica Guzman has been with the Newport Beach office for over three years. As Vice President, she will partner with high-net-worth individuals and families to accumulate, manage, and preserve wealth across generations, with expertise in trust administration, family office services, and comprehensive financial planning. 

“Jessica’s technical knowledge, client-centered approach, and dedication to excellence make her a standout advisor,” said Greg Custer, Executive Vice President and Orange County Administration Manager. “Her promotion highlights the difference that committed professionals can make for families seeking long-term wealth management.”

Jessica holds the Certified Financial Planner® (CFP®) and Certified Trust and Fiduciary Advisor (CTFA) designations and is pursuing her MBA at UCLA Anderson School of Management.

William Dodds

Will Dodds began his career with the firm’s Seattle office as an intern in 2018. As Vice President, he provides guidance, strategy, and solutions across investment management, trust, philanthropy, and family office services. 

Nick Momyer, Senior Vice President and Northwest Regional Manager, said about William: “It’s been exciting to see William’s journey from intern to this leadership position. William backs up a genuine commitment to his clients with a real commitment to building relationships with their families and advisors. His promotion reflects the value he brings to families in the region and across Whittier Trust’s services.”

In addition to his professional responsibilities, William is pursuing his MBA at the University of Washington’s Foster School of Business and serves as Seattle Chapter Lead for The Scooty Fund, a nonprofit promoting mental health awareness among young adults.

These promotions demonstrate Whittier Trust’s focus on developing talented advisors who deliver personalized solutions, foster enduring relationships, and uphold the firm’s long-standing tradition of service and trust across generations.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Sep 16th

Whittier Trust Promotes Derek Hamblet to Senior Vice President in Reno Office

Reinforcing Whittier Trust’s Culture of Excellence and Longstanding Commitment to Leadership Rooted in Client Service.

The Whittier Trust Company of Nevada is proud to announce the promotion of Derek S. Hamblet to Senior Vice President and Client Advisor in the wealth management firm’s Reno office. This advancement reflects both Derek’s nearly two decades of experience and the firm’s deepening dedication to serving Nevada families, who benefit from the state’s advantageous trust laws and robust fiduciary framework.

As Senior Vice President and Client Advisor, Derek will continue guiding high-net-worth families, individuals, and tax-exempt entities as they navigate complex financial decisions while building multi-generational strategies designed to grow and protect wealth. With Nevada’s favorable trust environment, Derek works closely with clients, their families, and their advisors to ensure they maximize the unique benefits available to them in the state.

“Derek’s journey at Whittier Trust reflects steady growth and a consistent commitment to clients,” said David Dahl, President and CEO of Whittier Trust. “From his early work as an analyst to his leadership today as a trusted advisor, he has continually built on his expertise and deepened his relationships with families. This promotion to Senior Vice President recognizes the impact he has made and the value he will continue to bring to our Nevada clients.”

Derek began his Whittier Trust career as an Investment Analyst, where he focused on equity research in telecommunications and healthcare and supported the management of accounts for families and foundations. Over the years, he transitioned into advisory work, where his ability to connect with clients and tailor solutions earned him recognition and trust across generations.

A graduate of the University of Nevada, Reno, Derek holds a Bachelor of Science in Finance with an emphasis in Economics and Accounting, as well as a Master of Business Administration (MBA). He has continued to sharpen his expertise through advanced designations, including CERTIFIED FINANCIAL PLANNER® professional, Certified Trust and Fiduciary Advisor (CTFA), and Honors Graduate of Cannon Trust School. He also remains engaged with the community as a member of the University of Nevada, Reno Foundation Planned Giving Advisory Council.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Sep 2nd

Whittier Trust Welcomes Vikram Ganu as Senior Vice President and Director of Tax

Vikram Ganu underscores Whittier Trust’s commitment to tax sensitivity as a cornerstone of the firm’s wealth management philosophy.

Whittier Trust is pleased to announce the addition of Vikram Ganu as Senior Vice President and Director of Tax, based in the firm’s Menlo Park office. Vikram will lead Whittier Trust’s tax practice, advising high-net-worth individuals and multi-generational family businesses on complex income and estate tax planning strategies.

In his role, Vikram will oversee Whittier Trust’s tax compliance and tax advisory functions. He will also collaborate closely with client advisors, portfolio managers, and other professionals within the firm to deliver integrated, tax-sensitive solutions that help clients preserve and transfer wealth across generations.

Vikram Ganu brings more than 16 years of experience in public accounting, including more than a decade with Big Four accounting firms in Los Angeles and the Bay Area. His background encompasses tax advisory and compliance services for multi-generational, family-owned businesses, buy and sell side tax due diligence, and specialized work with families across various industries, including real estate, venture capital, private equity, and the media and entertainment sectors.

“Tax efficiency is not an afterthought at Whittier Trust — it’s core to our wealth management philosophy,” said Liam McGuinness, CFO of Whittier Trust. “Vikram’s technical depth and client-focused approach allow us to elevate this commitment, ensuring that families benefit from tax strategies that are both sophisticated and practical.”

Known for his approachable style, Vikram is passionate about demystifying tax planning. He places an emphasis on education and clarity, ensuring that clients not only minimize their tax exposure but also gain a meaningful understanding of the tax landscape and the constant rule changes that define it.

Vikram earned his Bachelor of Science from the University of California, Los Angeles, and his MBA from the University of California, Irvine. He is a licensed Certified Public Accountant in California.

For more information about Whittier Trust, start a conversation with an advisor today by visiting our contact page.

From Investments to Family Office to Trustee Services and more, we are your single-source solution.

Contact Us
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Aug 28th

Beyond Basic Security

Cyber criminals may be targeting you—here are six ways to fight back.

In today's interconnected world, protecting your digital information is vital. Cyber threats are constantly evolving, so staying informed and proactive is the best defense. At Whittier Trust, we take cybersecurity seriously, and we aim to help you maintain your online security and safeguard your sensitive information.

Strengthen Your Passwords

Your passwords are the first line of defense against unauthorized access. It’s important to: 

  • Use Strong, Unique Passcodes: Create passwords that are at least 12-16 characters long, combining uppercase and lowercase letters, numbers, and symbols. Avoid using easily guessable information such as birthdays, names, or common words.
  • Employ Unique Passwords for Each Account: Reusing passwords across multiple services is a significant risk. If one account is compromised, all others using the same password become vulnerable.
  • Utilize a Password Manager: A reputable password manager can securely store your complex, unique passwords and generate new ones for you. This eliminates the need to remember dozens of different combinations.
  • Enable Multi-Factor Authentication (MFA): Whenever available, activate MFA (also known as two-factor authentication or 2FA). This provides an extra layer of security by requiring a second form of verification (e.g., a code sent to your phone) in addition to your password.
  • Change Your Password Frequently: Passwords should be changed at least quarterly, with email passwords updated even more frequently.

Practice Safer Online Browsing

In today’s digital landscape, safe browsing starts with simple habits. Always verify links before clicking and stop to double-check any unexpected prompts before entering your credentials.

  • Website Security: If your browser warns you that a site’s certificate is invalid, don’t ignore it. Those warnings mean the connection isn’t secure or the site may be fraudulent. If the site doesn’t use HTTPS, do not enter any sensitive information. It can easily be intercepted.
  • Sensitive Sites: Type the web address yourself for sensitive sites. Don’t trust links in emails or chats.
    Manually entering https://yourbank.com ensures you land on the real site, not a spoof.
  • Website Misspellings: Beware of URL misspellings. For instance, “examplle.com" isn’t the same as "example.com.” Attackers can register look-alike domains to trick you—always verify each character.
  • Carefully Inspect Web Links: Never click a link you weren’t expecting, and examine search results before clicking on links. Phishing sites often hide behind innocuous or legitimate looking links. 

Keep Software and Firmware Updated

Software updates often include critical security patches that fix vulnerabilities exploited by cybercriminals.

  • Operating System and Applications: Ensure your computer's operating system (Windows, macOS, Linux) and all software applications (web browsers, office suites, antivirus programs) are set to update automatically or that you regularly check for and install updates.
  • Device Firmware: Many devices, from printers and smart TVs to network-attached storage (NAS) devices, have firmware, a type of embedded software that provides low-level control for the device’s operation. Check the manufacturer's website periodically for firmware updates and install them promptly. These updates often address security flaws.

Secure Your Router (Wi-Fi)

Your internet router is the gateway to your home or office network. Securing it is paramount, using strategies such as: 

  • Change Default Credentials: The first step after setting up a new router should be to change the default administrator username and password. These are often publicly known and easily exploited.
  • Update Router Firmware: Like other devices, routers receive firmware updates that improve performance and, more importantly, patch security vulnerabilities. Consult your router's manufacturer for instructions on how to check for and install updates.
  • Use Strong Wi-Fi Encryption: Ensure your Wi-Fi network uses WPA2 or WPA3 encryption. Avoid older, less secure options like WEP.
  • Guest Network: Consider enabling a guest Wi-Fi network for visitors, keeping your main network separate and more secure.

Protect Against Malware and Spyware

Malware (malicious software) and spyware can compromise your system, steal data, or disrupt operations. It’s critical to make sure you: 

  • Install Reputable Antivirus/Anti-Malware Software: Use a trusted security solution and keep it updated. Regularly scan your devices for threats.
  • Be Wary of Suspicious Emails and Links: Phishing attempts are common. Avoid clicking on links or opening attachments from unknown senders. If something looks suspicious, even if it appears to be from a known contact, don’t engage. 
  • QR codes: Avoid scanning QR codes from unexpected or unfamiliar sources due to the risk of phishing and malware attacks. 
  • Download from Trusted Sources: Only download software and files from official and reputable websites. Avoid third-party download sites that may bundle unwanted or malicious programs.
  • Firewall: Ensure your operating system's firewall is enabled, or use a dedicated firewall solution, to control incoming and outgoing network traffic.

Be Mindful of Public Wi-Fi

Public Wi-Fi networks (in cafes, airports, etc.) are often unencrypted and insecure, making your data vulnerable to interception.

  • Avoid Sensitive Transactions: Refrain from accessing banking, shopping, or other sensitive accounts when connected to public Wi-Fi.
  • Avoid Wi-Fi Networks Without Passwords: These networks pose significant security risks. Without a password, these networks lack encryption, making your data vulnerable to interception by malicious actors.
  • Your cell phone hotspot is considered more secure than public Wi-Fi.
  • Use a Virtual Private Network (VPN): A VPN encrypts your internet traffic, providing a secure tunnel even on unsecured networks.

Your Role in Cybersecurity

Whittier Trust occasionally hosts cybersecurity seminars in which we share knowledge and strategies for handling online threats. During these events, attendees have the opportunity to learn practical skills and gain insights related to the topics discussed in this letter. Stay tuned for future event announcements. 

While we implement robust security measures at Whittier Trust, your vigilance is a critical component of a strong overall security posture. As a companion to this article, please review this helpful checklist, designed to help keep you on a regular schedule of maintaining good cybersecurity hygiene. 

Remember, Whittier Trust will never ask for your personal or secure information via text message or email. If you get such a suspicious piece of communication, please reach out to your client advisor directly. Also, Whittier Trust does not transfer your cash without verbal or written confirmation. If you have any questions or require further assistance with your cybersecurity practices, please do not hesitate to contact us.

For more information about how Whittier Trust can protect you, your family, and your estate from cybercriminals, start a conversation with an advisor today by visiting our contact page.

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