$ 887 million UBS advisor views volatile market cycles as a challenge for financial planning
Last name: Jeffrey Swett
Solidify: UBS Financial Services
Location: Boston, Massachusetts
AT M : $ 877 million
Forbes Ranking: The best wealth advisers
Background: When Swett graduated from Denison University in Ohio, he became interested in business and law. In order to continue these activities, he became a certified paralegal in business law. This experience finally made him realize that he did not want to pursue a legal career. He is now approaching his 30th birthday at UBS.
Investment philosophy / strategy: With an older clientele, the majority of whom are over 50, Swett and his team tend to have a more conservative approach to investing.
“We’re not looking to triple someone’s money,” he says. “Typically people come to us when they have already built up their wealth and are looking for someone to manage the risk, guide them and provide them with a comprehensive financial plan. So our investment philosophy, because we focus on planning for retirement, tends to be more conservative. “
Competitive advantage : “There are a number of points that have contributed to the success of our team over the years, but more importantly, we have hired the right people,” adds Swett.
Best Advice: The best advice Swett has ever received is to invest in relationships, whether it’s with clients, prospects, internally within the company, or just generally with people he meets. Another notable piece of advice he received was to take a long-term view of his business.
Biggest Challenge: Swett sees clients and potential clients inundated with information, forcing an advisor to clarify and simplify. He will even chat with and help non-clients who come to him, saying it’s more about giving back than prospecting even if it leads to referrals.
Lessons learned: After three decades in business, Swett still sticks to the golden rule of treating others as you would like to be treated.
“It’s so important, especially in a long-term business like wealth management,” he says. “We are not in the business of quick transactions, we are in the business of lifelong relationships. So it is always very important to treat others exactly as you would like to be treated.
Biggest misunderstanding from customers: Market cycles typically present challenges for clients, according to Swett, who says through various economic cycles he strives to keep clients on track with their initial retirement plan.
“When the markets go to extremes, it is very important to stick to this plan, even though the human tendency may be to deviate,” he adds.
Investment outlook: Swett says he is “cautiously bullish” on markets and equities, keeping portfolios balanced ahead of a positive year expected in 2021.
Favorite Book / Movie: Recently, Swett enjoyed the movie “The Founder”, which stars Michael Keaton as McDonald’s.