We have a motto at Trust Point that in doing what is best for our clients, we will be doing what is best for our company. Simply put, we work in your best interest and don’t succeed unless you do.
With that in mind, it’s incredibly gratifying for us to say that the last two years, for all the hardships, have been the most successful years we have ever had at Trust Point. That means we have continued to grow your wealth, help you achieve your financial goals, and earn your trust and referrals along the way.
We know there is still a lot of uncertainty ahead, largely due to the wide-ranging effects of the COVID-19 pandemic, but we continue to maintain a positive outlook and hope you will, too. Chairman of the Board of Directors Kent Handel and President and CEO Bill Bosch provide some insight.
Adapting To A New World
Kent: If you look back at our history, we’ve been doing this since 1913, and I think that our long track record of producing positive outcomes through historic events speaks for itself. Clients are looking for consistency, but they’re also looking for companies that have adapted over the years. We obviously have adapted, or we wouldn’t be here, not only surviving, but excelling in this environment. We’re often asked how many clients we lose when the market goes upside down. The answer is we don’t lose any, because we don’t bring clients in here saying we’re going to outdo the market in every environment. I think the key with us is we market what we deliver. And I think that clients like that predictability — they like to know what’s going to happen when the world turns upside down, which periodically it does.
Bill: To build on what Kent said about adaptability, we have long focused on having the right people here to serve our clients and develop lasting relationships, but more recently we’ve utilized technology to further enhance our services. Technology platforms such as Black Diamond Wealth Portal for account viewing at any time, and iJoin, a tool for retirement planning, have taken our services to the next level. Our new Emerj360 division combines on-demand tools and resources with knowledge and insights from our staff. Great people and great technology are the two most important things serving our clients today.
Kent: Bill is right about that and it’s about finding the right balance to meet our clients’ needs in ways that are most convenient for them. Our services span several generations and each of those have different preferences for how and when they’d like to interact with us and access their financial information.
Kent: We’ve had three years of back-to-back good performance out of the stock market. Are we going to have four? Probably not. And if we had a year that was pretty even, that would be a success. I think in terms of market performance, none of us would have ever forecasted what has happened in the past couple of years. It’s a very unpredictable time and we’re working with our clients to prepare for inevitable market adjustments. We can’t predict the future, but we can help our clients be prepared for the future. And that’s important to us. Our approach has always been long-term.
Bill: In this business, you can always expect pullbacks and volatility in markets and we’ve seen that at the start of this year. And yes, we have issues like inflation and geopolitical uncertainty. But really, this is not much different from most years when you have ups and downs. It’s our job to educate clients, to remind them that these things happen every year, and to stay the course. Overall, our outlook for the year is good. We have roughly $7.5 billion in assets under management today and we expect more growth for our company and clients. We’ve never seen more interest in Trust Point from our clients.
Kent: This business is really about people. It’s about our clients. They give us life, give us a reason to be here. Their continued trust and loyalty in us is more of a reason for positivity than anything else. When we can help clients understand our approach and they can buy into that, it’s a win-win for both of us.
Bill: One of the ways we measure success is by tracking new business that we get from our clients throughout the year. The last couple of years it’s just been off the charts. We’re grateful for our clients’ confidence in us, that they’re willing to tell their friends and family about us. That’s the best compliment we can receive and a strong indication that the future is bright.