The 2008 financial crisis triggered a turning point in the financial services industry.  The broad failure and subsequent bailout of many large Wall Street firms, insurance companies and banks created widespread mistrust by many of their wealthy clients.  Families who spent decades clinging to the perceived safety of large institutions with storied track records questioned how these firms could be brought to their knees by poor decisions made by their mortgage or investment banking subsidiaries.

One of the most notable after-effects of this widespread mistrust of big Wall Street firms has been the structural shift among investors, to move assets to trustworthy independent wealth managers, like WMS Partners in Towson, MD.

“Our clients can always trust that we have their best interest at heart,” CEO Timothy W. Chase, told The Suit.  “Our people, independence and fiduciary oath gives them peace of mind and allows them to sleep at night.  We build relationships – not simply investment associations.  Functioning as a family’s Chief Financial Officer, the firm is adept at managing the often complex and intimate issues that typically accompany significant wealth.”

Chase and his partners founded Towson, MD-based WMS Partners in 1992.  Prior to forming the firm, Chase managed the financial planning division of a regional accounting firm in Baltimore.  A Certified Public Accountant, Certified Financial Planner, Chartered Life Underwriter, and Personal Financial Specialist, Chase has helped to build WMS into one of the top wealth management firms in the country.  Starting out with a small staff and handful of clients, WMS today boasts a team of 45 and has over $2.5 Billion in assets under management.  The firm works with close to 300 families and builds teams of experts to help support each client relationship.

“We’re selective in the clients we take on.  We cater to wealthy families and individuals as our aim is to grow strategically as our service is too intimate to scale to the masses.  Our goal is to provide and foster partnerships with our clients, relationships based upon mutual respect and a shared value system,” Chase explained.

WMS starts each client relationship with careful planning focused on creating a shared understanding of each client’s financial goals.  After they determine each client’s needs they work in tandem with accountants, attorneys, outside investment advisers, insurance professionals and philanthropic advisers.  WMS acts as a client’s advocate and central point for financial affairs, running the gamut from portfolio management to estate planning and gifting.  “Wealth management is not a one-and-done association; it’s an ongoing relationship,” Chase added.

With its vast expertise, flexible approach and unique understanding of financial markets, the firm is an ideal partner for families and individuals who desire a discreet and highly experienced team.

“Before we make any kind of investment recommendation or plot a portfolio, we get to know our clients.  We keep in regular contact and are proactive making changes as necessary.  A carefully curated core portfolio is the foundation of our approach to investing.  We have a saying here that goes ‘if you’ve won the war why continue to fight the battle.’  In short, the majority of our clients have reached the point where they have realized financial freedom.  To them and to us it’s most important to hold on to assets by using relatively safe investments instead of chasing riskier returns,” Chase detailed.

At WMS investment portfolios are created with a strategic outlook and use the most efficient vehicles (from both a cost and tax perspective) to achieve their clients’ investment goals. WMS believes that investment strategies no longer fit neatly within traditional asset class categories such as stocks and bonds. By maintaining an objective and agnostic approach to selecting the types of strategies and securities utilized to achieve client goals, WMS clients can benefit from owning mutual funds, individual stocks, ETF’s, private investments and alternative strategies. In fact, due to their substantial asset base, clients gain access to alternative strategies that may not be available to most investors.  Examples of these types of investments are direct investments into income generating real estate, deep value distressed debt, and a variety of private cash flow streams.  “Many of our best investment ideas have been generated as a result of working with our most affluent family office clients.  The research and relationships we’ve built as a result of investing larger portfolios has helped WMS provide our entire client base with more opportunities to diversify their portfolios using alternative assets.” said Chase.

Many independent wealth managers viewed the market turmoil in 2008 as an opportunity to expand their regional footprint.  While Wall Street firms required bailouts from the Federal Reserve independent firms like WMS were hiring staff, increasing revenues and adding new clients.  “By keeping our clients assets safe in the downturn we had a very shallow hole to dig out of when markets started to rebound.  Our clients and our firm fared well during the financial meltdown.” Chase shared.  “Our client retention rate is proof.  We have lost very few clients over the years.  Looking out for clients is what we do – and we work hard at it.  That, plus open and honest relationships, have served clients and the firm well.”

What Chase and his firm do exceptionally well is to maintain a clear focus, placing themselves in their client’s shoes and addressing complex and delicate issues.  Helping clients make smarter decisions about money, providing an objective perspective on sensitive family issues, educating clients about investing to meet their goals and providing access to unique cash-flow based investments are just a few of the perks WMS Partners has to offer.

To be sure, today’s tricky and ever-changing financial markets have made wealth management more challenging and more important than ever.  That’s why proficient, experienced professionals like Tim Chase and the team at WMS Partners – are the future of wealth management.

For more information, visit: www.wms-partners.com