High-net-worth individuals often have many objectives, ranging from wealth preservation and growth to estate planning and philanthropy. Each objective has its own intricacies, requiring careful consideration and customization to meet each client's unique needs. 

In this episode, Rusty and Robyn talk with Vern Montross, Western Division Managing Director at City National Rochdale. In his role, Vern is responsible for cultivating and developing relationships with financial professionals, including financial advisors, CPAs and attorneys, and their high-net-worth clients in Texas. He works in concert with these professional advisors and City National Rochdale portfolio managers to develop long-term, risk-managed investment strategies.

Working in close partnership with each client's trusted advisor to develop an insightful personal benchmark, Vern talks about the complexity of managing high-net-worth portfolios, what it takes to serve high-net-worth clients, and what intelligent personalization is all about. 

Key Takeaways

Quotes

[06:04] - "We're a collection of problem solvers, very much like scientists and engineers. We want to study what a potential solution looks like, stress test it, and make sure it works and is appropriate." ~ Vern Montross

[06:31] - "We don't pre-manufacture our solutions. We don't have inventory on the shelf, and we don't pre-manufacture products. We work with every single client based on their unique situation." ~ Vern Montross

[16:50] - "Just because something is different or specific doesn't mean it's also optimal. So, I think of intelligent personalization as customization with intelligent awareness." ~ Vern Montross

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1592-OPS-6/12/2023