Lifting the lid on family focused firm’s core values

When financial stability and purposeful living seem constantly at odds, even high-net worth individuals are at a loss as to what to do with their wealth. Brady Fineske, president and lead Family Wealth Strategist at TFO Wealth Partners says that the firm’s sole mission is to help families thrive by helping them connect their wealth with their purpose – something which can impact not just their finance building but also their well-being.

“Our culture is really our corporate soul,” Fineske explains. “It starts and ends with how we help families. We measure our success every day by whether we’ve helped a family. In every way, our group of amazing people that get to work here and serve our clients measures their day on helping a family in any way that is needed.”

This holistic approach is anchored in a core value they’ve coined as "be more."

“Years ago, we introduced a fifth core value within our firm: To be more.  Being more proactive and available, for example, have become embedded in our day, not just for our clients but for our colleagues as well,” adds Fineske. “This 'be more' concept has led us to build an array of solutions and tools which can help connect wealth and purpose, enabling our clients to live more fulfilling lives.”

This proactive stance is not merely a business strategy but a deeply ingrained part of the company’s ethos, driving them to constantly evolve and better serve both their clients and their internal team. And, when it comes to strategies within the financial sector, Fineske is quick to point out the importance of time management and mind management - both addressed in his book ‘All You Have To Do Is Last! How To Survive In the Financial Services Industry’.

“One of the key takeaways from the book is that if you have a problem, create a system. That system will solve the problem,” he notes. “There are going to be tough weeks with bigger problems than others. Managing your mind is essential to handle various client situations effectively.”

Fineske's rationale for writing the book stemmed from witnessing high turnover in the industry.

“The average turnover for someone to make it beyond a year or two was staggering. I had great mentors who helped me navigate those early years, and I wanted to provide the same opportunity for others. The book was a way to document those successful systems and offer guidance. Providing opportunity for those that work with us in lots of different ways is something we deeply value at TFO Wealth Partners.”

A significant portion of TFO Wealth Partners' success lies in aiding families and business owners in transferring their wealth across generations.

“Around 97% of families fail to transfer wealth beyond the third generation,” Fineske adds. What’s more, studies revealed that successful wealth transfer relies on passing down values, not just assets.

“Our experience with other families facing similar issues has enabled us to help them not only manage their wealth but also transfer the values that created that wealth, ensuring sustainability through generations.”

But it’s not all plain sailing. The ongoing economic issues and geopolitical tensions have driven increased client expectations – namely that advisors have to be so much more than run of the mill investment managers.

“Clients now expect a full-service approach—coordinating estate, taxes, charitable contributions, business succession, and family education,” explains Fineske. “We’ve built our firm to meet and exceed these expectations, ensuring our colleagues are technically superior and can offer comprehensive wealth management services.”

Furthermore, there’s a notable lack of financial education - especially among younger generations.

“Many clients’ children are encountering financial responsibilities for the first time, and there’s a significant gap in financial literacy. To help address this gap, we  created our own digital financial education program called RightTrak, helping the next generation understand investing, banking, taxes, and more; the basic fundamental financial foundations which can help lead the younger members of our client families to future independence and success. In fact, this program has even been implemented into several high schools and college athletic programs to help their students get on the right financial track as early as possible.

Lastly, Fineske highlights a pervasive lack of fulfillment even among those who have achieved financial success.

“Despite living the American dream, many still feel unfulfilled. Our goal is to help our clients lead more fulfilled lives, addressing not just their financial needs but the broader aspects that matter most. The advisor's role is evolving to help clients live more fulfilled lives, and that’s something we’re striving to do as we continue to help more families.”