The Family Office Rotation

The trust and family office rotation gave us the opportunity to experience how advisors, coordinators, and analysts work together to provide a variety of services to clients. Parkside works to improve clients’ financial security through investment management, estate planning, tax planning, and trust services. Successful investment management starts with a diligent selection process. We learned that the investment committee meets quarterly to discuss market conditions and assess model portfolio performance. Another important step in the process of asset selection is classification. Asset classification involves researching security characteristics and assigning them to classes. These classes are then built into model portfolios. We also had the opportunity to compare clients’ allocations to these models and recommend trades needed to bring them into alignment with their desired risk levels. Advisors meets with clients at least twice a year. To prepare for their meetings, advisors and analysts meet to discuss client goals and establish an agenda during a pre-review meeting. We also had a chance to evaluate advanced private equity investments. Another enriching experience was writing “insights articles”. These articles covered a range of topics related to investing and will be sent out to clients as newsletters throughout the year. The trust department manages and protects the wealth of trusts. Via a presentation, we learned that managing trusts is a dynamic task that involves investment, family relationship, and property management. The trust and family office rotation showed us that wealth management is an important and integral part of people’s lives.