Preston McSwain is the managing partner and founder of Fiduciary Wealth Partners, an SEC registered investment adviser and multi-family office that is focused on high-net-worth investors. Previously, McSwain was a managing director at Neuberger Berman and Lehman Brothers, where he was instrumental in the growth of the firms’ UHNW trust and wealth management divisions. He began his career at State Street Bank & Trust. McSwain received a BS in Finance with a concentration in Investment Management from the University of Alabama at Birmingham. He currently sits on the board of the Pioneer Institute, Board of Overseers of the Peabody Essex Museum, and is a member of the Economic Club of New York.
We are socialized to believe that we get what we pay for. In the case of trustee and planning services, does the lack of a stated fee imply to clients that these services have little value? Preston McSwain offers his perspective.