Building success on success

For some individuals, one taste of success is far from enough. Such was the case with two technology entrepreneurs who were considering the sale of their first venture to a major public company. Brothers in their 40s who had worked together to create the company, they were reviewing proposals from various wealth management organizations to address their sudden and significant success.

Although they were initially interested in asset management capabilities for the $20 million they would receive from the sale, we sensed that their appetite for growth and their ability to achieve it were formidable. As a result, we began introducing them to credit alternatives, which not only provided the flexibility to pursue opportunities but also allowed them to diversify their holdings without selling a concentrated but still appreciating stock position. Sensing that we understood their vision, they committed their new wealth to us and began looking for new opportunities.

We began by helping them diversify, establishing a plan to help transform the restricted stock they had received into liquidity. When they identified an opportunity to purchase radio stations, we introduced them to Bank of America specialists in broadcasting — and financed the purchase. As their wealth grew, they began to expand into commercial real estate. Our team not only financed those acquisitions but also introduced them to leading developers and new opportunities. Now they are in the hotel business, and we have connected them with Bank of America professionals who specialize in that industry.

Recently, one of the brothers purchased a yacht, and the business has purchased two corporate jets. Both transactions were handled through U.S. Trust. We are also analyzing wealth transfer alternatives that can create both family and charitable legacies. Today, these clients have a total of nearly $100 million in loans through U.S. Trust, a $60 million investment portfolio and a relationship still quarterbacked by the same dedicated U.S. Trust advisor — perhaps the only constant in a decade of remarkable growth.

The client profiles presented are hypothetical and do not reflect specific strategies we may have developed for actual clients. They are for illustrative purposes only intended to demonstrate the capabilities of U.S. Trust. They are not intended to serve as investment advice since the availability and effectiveness of any strategy are dependent upon your individual facts and circumstances. Results will vary, and no suggestion is made about how any specific solution or strategy performed in reality. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy.