When my industry friend and mentor Steve Prostano told me he was launching a collaborative think tank for wealth management professionals to service their ultra-high-net-worth clients, I knew it was going to be something special.
Prostano, a partner at PKF O’Connor Davies LLP and head of the firm’s family advisory services, created The UHNW Institute close to five years ago because of the transformation he was witnessing within wealth management. Fueled with passion and a purpose to move the industry forward, he enlisted the help of his industry colleagues to create a board of directors and an advisory board. With his “dream team” assembled, he got down to work to build a unique organization.
Just last month, the institute hosted its annual symposium, where its many members gathered over two days to network with one another and have a meaningful dialogue about how best to serve their clients and become better advisers.
I had a wonderful time seeing industry colleagues whom I haven’t seen in years. Many of them were mentors to me in my early days in the business.
The heavyweights were most definitely represented — such as Joe Calabrese, COO of wealth management at Key Wealth Management; Michael Zeuner, managing partner at WE Family Offices; and Kathy Lintz, a partner and managing member at the Matter Family Office.
What was evident throughout my time at the event was this: The people in the room care about elevating the standard of care in the space.
A core concentration for the institute this year is its new DEI executive council, which plans to concentrate on reshaping what diversity, equity and inclusion means and have a stronger focus on two aspects in particular — inclusion and equity.
The institute is continually evolving with big plans ahead. It’s building out its members-only online resource library as well as its events series, which includes additional council and roundtable discussions throughout the country.