{"id":32798,"date":"2023-11-07T17:40:45","date_gmt":"2023-11-07T17:40:45","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/wealth\/high-touch-3-billion-wells-fargo-team-focuses-on-dividends-and-cash-flow\/"},"modified":"2023-11-07T17:40:47","modified_gmt":"2023-11-07T17:40:47","slug":"high-touch-3-billion-wells-fargo-team-focuses-on-dividends-and-cash-flow","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=32798","title":{"rendered":"High-Touch $3 Billion Wells Fargo Team Focuses On Dividends And Cash Flow"},"content":{"rendered":"
\n

Team Name: <\/strong>TSG Wealth Management<\/p>\n

Firm:<\/strong> Wells Fargo
\n WFC
\n <\/fbs-ticker> Advisors<\/p>\n

Senior Members: <\/strong>Mark Schulten, Allen Schreiber, John Szymura, Lori Zorn, Merlin Micken<\/p>\n

Location: <\/strong>Long Beach, CA<\/p>\n

Team Custodied Assets: <\/strong>$3.1 billion<\/p>\n

Forbes Rankings: <\/strong>Top Wealth Management Teams High Net Worth, Best-In-State Wealth Management Teams<\/p>\n

Background: <\/strong>Mark Schulten started as an advisor at Paine Webber in the late 1980s, eventually teaming up with his father in 1992 at Shearson Lehman Brothers, which later became Citi Smith Barney. As the two grew the business together, they were joined by Allen Schreiber in the late 90\u2019s, who had started at Paine Webber as a cold caller. In 2009, following the financial crisis, the team moved to Wells Fargo for ten years before switching to the firm\u2019s independent channel. \u201cThe dream was to have a business small enough to be high-touch like a boutique, but at the same time offer the services and resources of a big institution like Wells Fargo,\u201d says Schulten. The team not only specializes in working with high net worth families but it has also created a platform for advisors who want to be independent but don\u2019t necessarily want to go through the arduous set up process themselves. A big chunk of TSG’s business comes from small fees from affiliate advisors who partner with TSG but are still able to own their own practices and keep working with clients. With 55 advisors and 45 support staff, TSG now has 16 offices across several states. Though they are supported by Wells Fargo, virtually all of the branding is TSG and affiliated advisors.<\/p>\n

<\/fbs-ad><\/p>\n

Competitive Edge: <\/strong>On the client experience side, the team\u2019s competitive edge is their ability to offer a financial concierge approach, handling everything from investments and lending to tax and estate planning. \u201cThe ability to be a true one stop shop for the families we work with allows them to come to us and have their financial lives simplified,\u201d says Schreiber. \u201cIt\u2019s key to have advisors focused on facetime with clients\u2014having multiple touch points is crucial.\u201d On the advisor side of the business, Schulten emphasizes the competitive edge of being able to offer independence without the stress. \u201cWe offer the ability for them to consider independence but without all the headaches that traditionally come with that,\u201d says Schulten. \u201cWe take everything an independent practice owner has to deal with off their shoulders so they can focus on clients.\u201d<\/p>\n

Investment Philosophy\/Strategy: <\/strong>The team\u2019s core philosophy is cash flow oriented, with the two partners arguing that cash management is now more important than ever for clients because they are finally being compensated with returns. \u201cWe like dividends and consistent cash generators, but more importantly, growing dividends, which are an indication of strong earnings and great financial health,\u201d says Schreiber. Fixed income had been challenging, meanwhile, but has now become a much larger part of client portfolios as rates have risen, describe the two partners. For the most part, portfolio bond holdings are still fairly short in duration: \u201cWe\u2019re keeping quality very high because we haven\u2019t been convinced that the end of the bear market in bonds is over,\u201d says Schulten.<\/p>\n

Investment Outlook: <\/strong>Over the long term, both partners are believers in markets, pointing out that well positioned quality portfolios will always be able to ride out the storm. \u201cThere\u2019s a lot of uncertainty in markets and the world today,\u201d says Schreiber, though he still expects the market to be fairly positive going into the end of the year. \u201cThere is a lot of money on the sidelines\u2014now people are getting some bang for their buck\u2014but that will add firepower as many uncertainties gradually get eliminated.\u201d When it comes to the Federal Reserve, the team anticipates that markets are near the end of the rate hiking cycle, especially as some pressure in wages and inflation subsides. \u201cI think the Fed has done the lion\u2019s share of its changes to monetary policy,\u201d says Schulten. \u201cWhile it may take longer for the Fed to start cutting rates, most of the current we\u2019ve been swimming against has subsided.\u201d<\/p>\n

Best Advice: <\/strong>\u201cThe most frequent advice we give to families is to diversify but always keep powder dry on the sidelines to take advantage of opportunities\u2014and we\u2019re starting to see more of those in this market,\u201d says Schreiber. He advises looking for opportunities that not only have a compelling story but also consistent and rising cash flow.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Team Name: TSG Wealth Management Firm: Wells Fargo WFC Advisors Senior Members: Mark Schulten, Allen Schreiber, John Szymura, Lori Zorn, Merlin Micken Location: Long Beach, CA Team Custodied Assets: $3.1 billion Forbes Rankings: Top Wealth Management Teams High Net Worth, Best-In-State Wealth Management Teams Background: Mark Schulten started as an advisor at Paine Webber in<\/p>\n","protected":false},"author":1,"featured_media":32799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":{"0":"post-32798","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-wealth"},"yoast_head":"\nHigh-Touch $3 Billion Wells Fargo Team Focuses On Dividends And Cash Flow | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Team Name: TSG Wealth Management Firm: Wells Fargo WFC Advisors Senior Members: Mark Schulten, Allen Schreiber, John 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