Recognized by peers, industry subject matter experts, and journalists for serving clients through pandemic
SAN FRANCISCO – Wells Fargo Private Bank, a business in the Wealth and Investment Management (WIM) division, has been awarded 2021 “best private bank globally for philanthropy services” by Professional Wealth Management and The Banker Global Private Banking Awards, owned and operated by the Financial Times Group. The Global Private Banking Awards’ objective is to gather qualitative and quantitative information from private banking groups to be able to give a set of awards of excellence in the wealth management industry each year. The award recognizes the bank’s Philanthropic Services team in the WIM division and its work with Wells Fargo Private Bank clients during the COVID-19 pandemic.
WIM serves clients through Wells Fargo Advisors and The Private Bank, which help individuals and families build, manage, preserve, and transfer their wealth. The Philanthropic Services team at Wells Fargo Private Bank is part of WIM’s Advice and Planning Center of Excellence.
“Philanthropy can be a powerful tool for not only the causes our clients support, but for the clients and their families themselves,” said Michael Liersch, head of WIM’s Advice and Planning Center of Excellence. “Through a shared experience of giving, they explore their own family stories, history, values, and commitment to pass down healthy financial conversations through multiple generations. I couldn’t be more proud of the Philanthropic Services team who serve our clients so capably each day.”
“Our values-based consulting approach helps clients identify what strategic philanthropy entails, and it has really resonated with them,” said Beth Renner, head of the Advice Center for WIM’s Advice and Planning Center of Excellence.
Judged by a panel of peers, industry subject matter experts, and journalists, WIM was recognized for its philanthropic work through the pandemic. The Philanthropic Services team facilitates discussions with Wells Fargo Private Bank clients about individual and family values, mission statements, and personal legacy wealth distribution and how it’s expressed through philanthropy and socially responsible investing.
“Our clients have a lot of passion for putting their money to work on behalf of their families, their communities, and the world at large – helping to solve some of society’s biggest problems. Assisting our clients achieve their goals through philanthropy is some of the most fulfilling work that we do,” said Julie Caperton, head of Wells Fargo Private Bank.
Professional Wealth Management Editor-in-Chief Yuri Bender said the judging panel noted Wells Fargo’s emphasis on customer experience, ethics, and risk management, as well as the strength of the Philanthropic Services team.
“Our panel of judges was very impressed by Wells Fargo’s ability to help clients pursue their philanthropic interests,” Bender added. “The bank is clearly focused on how to make things better for customers, while rebuilding the institution under new leadership.”
Philanthropic Services helps clients in Wells Fargo Private Bank meet their giving needs. Examples include governance for a family foundation, helping a donor navigate a gift agreement with their favorite charity, and creating and establishing an Intentional Giving Plan that aligns their giving with their values.
“We encourage clients to spend time truly engaging in the problems and issues they are seeking to solve through philanthropic giving – including, most recently, problems in society that came into focus during the pandemic,” said Stephanie Buckley, Philanthropic Services national leader for Wells Fargo Private Bank. “Today, we’re seeing renewed interest in initiatives like job training, investments in education technology, and more support for health professionals.”
Now in its 13th year, the Global Private Banking Awards gather qualitative and quantitative information from private banking groups to award excellence. The award criteria focuses on and highlights key achievements, changes, or improvements made during 2020 and in the first quarter of 2021, in relation to the business and investment models, growth strategies, customer service, staff retention, and other client-focused areas. The publications added several questions to gain an understanding of how institutions reviewed their business and service models to face the COVID-19 pandemic, and how they supported clients and employees during these challenging times. See the Professional Wealth Management site for more information and other winners across the globe.
Investment and Insurance Products are:
- Not Insured by the FDIC or Any Federal Government Agency
- Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
- Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
About Wells Fargo Wealth & Investment Management
Wells Fargo Wealth & Investment Management (WIM) is a division within Wells Fargo & Company. WIM provides financial products and services through various bank and brokerage affiliates of Wells Fargo & Company and is one of the largest wealth managers in the U.S., with nearly $2.1 trillion in client assets. WIM serves clients through the following businesses: Wells Fargo Private Bank serves high-net-worth and ultra-high-net-worth individuals and families; and Wells Fargo Advisors provides advice and guidance to help clients maximize all aspects of their financial lives. Through Wells Fargo Private Bank, WIM is also a leading provider of trust, investment, and fiduciary services, including personal trust services and a number of specialized wealth services designed to meet the diverse needs of high-net-worth clients.
Wells Fargo Private Bank provides products and services through Wells Fargo Bank, N.A., Member FDIC, and its various affiliates and subsidiaries. Wells Fargo Bank, N.A., is a bank affiliate of Wells Fargo & Company.
Brokerage services are offered through Wells Fargo Advisors. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
Wells Fargo Investment Institute, Inc. is a registered investment adviser and wholly-owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.
Wells Fargo Bank, N.A., offers various advisory and fiduciary products and services including discretionary portfolio management. Wells Fargo affiliates, including financial advisors of Wells Fargo Advisors, a separate non-bank affiliate, may be paid an ongoing or one-time referral fee in relation to clients referred to the bank. The bank is responsible for the day-to-day management of the account and for providing investment advice, investment management services, and wealth management services to clients. The role of the financial advisor with respect to bank products and services is limited to referral and relationship management services.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is the leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 37 on Fortune’s 2021 rankings of America’s largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.
Additional information may be found at www.wellsfargo.com| Twitter: @WellsFargo.
Contact Information
Media
Vince Scanlon, 336-430-9786
Vince.Scanlon@wellsfargo.com