A wealth plan designed
exclusively for you

What is the story of your wealth?

Your story is unlike anyone else’s; where you come from, the plans you have, and the future you hope to create are all uniquely yours.

For decades, we’ve been asking the questions and having the conversations that uncover the ever-changing complexities and values that impact the story of your wealth.

We’ll assemble a team to provide the mix of experience you need and a plan that puts personalized solutions to work, evolving with you every step of the way, from one extraordinary moment to the next.

Uncovering what counts

Hear from Private Wealth Advisor, Marci Rosenfeld on why she feels less talking and more listening is the key to understanding what matters most.

Q. Can you tell us a little bit about The Private Bank’s approach to advice and planning?

Marci: Sure. We call it LifeSyncSM. We sit down, ask a lot of questions, and dig into our client's circumstances. We want to define and crystallize their goals, and what’s driving them. From there, we pull together the tools and a team focused around the client and their specific needs and values, so we can offer a personalized wealth experience. It’s about people understanding one another, and creating a unique connection with our client’s life and their finanical journey. It is the basis of how we work.

Uncovering what counts

Q. Do you find that clients already have a good idea of what their goals are?

Marci: They’ll typically have a direction in mind, but we can flesh it out by asking questions that maybe aren’t top of mind, and that way we’re able to uncover other opportunities that are relevant to them that hadn’t really occurred to them. It’s my favorite part; when we can uncover something unexpected, that aha moment.

Uncovering what counts

Q. What happens after the initial conversations?

Marci: Then we can roll up our sleeves and get to work. Based on what we identify, we’ll then focus on the areas that make the most sense, and handpick a team that can provide targeted experience to tackle the particular needs of the client. And we adjust along the way because things often change, and together we’ll pivot and adjust accordingly to stay on track.

Uncovering what counts

Q. What do you feel makes the Wells Fargo Private Bank experience different?

Marci: There are many firms that do something similar in terms of providing similar wealth management offerings, but I personally feel that it’s more about the How than the What for us. We provide very specialized services designed to address the particular needs of the high-net-worth individual. LifeSyncSM helps uncover those needs and ensures that your plan stays aligned even as those needs may change over time. And when I say how, what I mean is distinguishing ourselves on the level of service and personal connection. It’s a philosophical difference really.

Uncovering what counts

Q. Are all clients drawn to the relationship approach?

Marci: There are definitely people who are only transaction oriented, so I think that it takes a certain type of client. It’s like any other relationship. You have to be on the same page philosophically and you have to like each other. For us, it’s not just about returns. It’s also about asking why do you want to do that? Is that in your best interest? Is that the best path to your goal?

A team dedicated to you

As a Wells Fargo Private Bank client, you have access to a team of professionals with the experience and skills to holistically address your unique needs. No matter what your situation, your relationship manager can assemble a team with the experience to help you address your goals with just the right mix of experience.

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Select a sample profile below to see the team.

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Our Advisors Infographic

Matt and Amy

Matt and Amy are planning to retire in less than a year, so they are concerned about long-term cash flow, ample liquidity, and any gaps in their insurance coverage. They’ve divided their estate plan equally among their children but would like to include provisions to discourage spendthrift activities.

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Select a sample profile below to see the team.

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Retiring Couple Infographic


Brianna owns a successful manufacturing business. She’s looking to possibly transition it to her eldest son in the next five years, but would like to divide the estate equally between both her children. She’d like to update her insurance policy before something unexpected happens.

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Select a sample profile below to see the team.

Nearing RetirementBusiness TransitionFamily Office
Business Transition Infographic
  • Outside advisors

The Joneses

The Joneses own a number of family businesses, and managing them all has become increasingly complex. But the elder family members fear the younger Joneses may not have the work ethic required to properly care for all the assets. To feel better about the future, they may need to align their values, streamline business structures for tax efficiency, and establish a shared vision for sustaining the family wealth.

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Select a sample profile below to see the team.

Nearing RetirementBusiness TransitionFamily Office
Real Estate Investment Infographic
  • Outside advisors

Investment and Insurance Products: NOT FDIC Insured / NO Bank Guarantee / MAY Lose Value

Benefits created with you in mind

Relationship and service

  • Dedicated support from The Private Bank Service Team – 24/7
  • An exclusive digital experience1
  • Differentiated branch experience
  • Committed team of specialists

Access and insights

  • Relevant thought leadership and market updates from trusted resources
  • Global perspectives from industry leaders
  • Exclusive client calls and invitation-only events

More premium benefits

  • Relationship pricing
  • Higher limits on certain transfers and deposits
  • Personalized fraud support
  • Special benefits with The Wells Fargo Private Bank By Invitation Visa Signature® Card2,3

Tailored solutions

Your relationship manager will work with you to find the right mix of the following capabilities that fits your goals, needs, and values.

Offered through Wells Fargo Bank, N.A.

  • Wealth and Legacy Planning
  • Family Wealth and Culture Services
  • Trust Services
  • Philanthropic Services
  • Investment and Asset Management
  • Private Banking including Cash Management and Custom Lending Strategies

Honors and awards

Recognized by wealth industry peers and leaders, we have recently received the following awards:

  • Best Global Private Bank for Philanthropy Services — Professional Wealth Management and The Banker
    View press release here >
  • Best Wealth Counselling offering — Family Wealth Report Awards 2021
    View press release here >
  • Best private bank for succession planning in the United States — Professional Wealth Management and The Banker Global Private Banking Awards 2020
    View press release here >
  • Best wealth planning – institutional — Family Wealth Report Awards 2020
    View press release here >

Managing and growing your wealth

Strategies designed to help you manage and grow your wealth.

Transitioning your wealth

Ensure that your wealth—and the values it was built on—carry on for generations.

Making an impact with your wealth

Explore traditional models of giving as well as emerging trends in social investing.

Managing and growing
your wealth

The changing demographics of wealth and strategies to help you build it

5 ways to use credit strategically

Even if you have cash on hand, using credit as part of your plan can make a lot of sense. Here are some strategies.

Strategy #1: Optimize cash flows

Credit can help:

  • Smooth out cyclical cash flow patterns
  • Meet financial commitments without depleting cash reserves
  • Empower achievement of life and family goals
  • Maintain liquidity for unexpected events

All credit products and services should be discussed as part of your planning process, rather than in isolation, to determine whether strategic use of credit will offer you flexibility to help meet your needs.

5 ways to use credit strategically

Strategy #2: Enhance tax efficiencies

Potential advantages of credit include:

  • Tax deductibility of interest expense paid on commercial real estate
  • Using credit to arbitrage interest rates
  • Transferring assets tax-efficiently, particularly if you have already reached the lifetime gifting allowance
  • Transitioning a closely held business tax efficiently to the next generation
  • Avoiding triggering capital gains tax on the original sale of real estate (supporting 1031 exchanges)

It’s important to work closely with your tax and legal advisors to help you fully understand the potential risks of credit tax-minimization strategies.

5 ways to use credit strategically

Strategy #3: Finance purchases of assets

Potential advantages of credit include:

  • Provide a lower-cost option for asset purchases
  • Minimize disruption of investment goals
  • Realize purchase plans without capital gains implications
  • Prevent purchases from depleting cash reserves

5 ways to use credit strategically

Strategy #4: Manage investment allocations

It can also help:

  • If you hold a concentrated position in a security you’re unwilling to sell
  • Avoid the sales of assets which could trigger large capital gains taxes
  • Reduce portfolio risk through diversification1
  • Take advantage of timeline investment opportunities
  • Invest in additional asset classes
  • Better align your portfolio with your investment goals

Your investment strategist with Wells Fargo Private Bank will review whether leveraging your portfolio is a suitable strategy for you.

5 ways to use credit strategically

Strategy #5: Realize estate financial planning goals

Some borrowing ideas to consider:

  • Transfer assets to children without reaching the lifetime gifting ceiling
  • Enhance estate planning structures such as a Grantor Retained Annuity Trust or a Charitable Lead Annuity Trust
  • Support business succession planning; for example, the transfer of business assets via a legal entity such as a Family Limited Partnership (FLP) and the consolidation of loans/lines of credit on business assets
  • Fund life insurance premiums and provide a suitable long-term liquidity strategy to pay estate tax liabilities2

5 ways to use credit strategically

Work closely with your legal, tax, and wealth advisors to determine which type of estate planning techniques are most appropriate. Your wealth planner and other financial advisors can also help give you a clear picture of the risks and opportunities of using credit strategies to help you reach your estate planning goals.

Invested in you

No matter where you are in your investment journey, you may wonder what potential opportunities exist and which ones might make sense for you. Whether you’re interested in short-term strategies or long-term outlooks, you’ll have a trusted partner who can help you explore all of your options—from core markets like fixed income and developed market equities to alternative strategies1—before settling on the ideal path: yours.

Invested in you

You’ll always get our very best thinking

In a rapidly changing world, you need timely insights you can act upon. Your investment team is backed by Wells Fargo Investment Institute,2 which includes experienced financial professionals. With access to research, insights, and critical analyses from Wells Fargo Investment Institute professionals on strategic asset allocation,3 investment strategies, and current market conditions, your investment strategist can provide timely, actionable advice to help steer your strategies.

Invested in you

Your portfolio. From the ground up.

Your investment goals are yours. That’s why we don’t pull your portfolio off of a shelf. By understanding your needs and aspirations through our in-depth discovery process, we can help you define your goals and develop a personal investment plan to meet them.

Using what we’ve learned, we build and monitor your portfolio with a broad range of investments and strategies that address your specific investment goals, time horizon, and risk tolerance.

We’ll also proactively work with you to refine your investment plan over time, adjusting strategies as needed to create a portfolio that more accurately reflects changes in your life, your needs, and your goals.

Invested in you

Asset allocation3 is the foundation of our investment philosophy. Through our four-asset group model, we’ll work together to configure the right mix of equities, fixed income, real assets (such as commodities and real estate), and—for qualified investors—alternative investments (such as hedge funds and private equity). But because the markets aren’t static, neither is your portfolio. By proactively assessing changing conditions, we can provide timely guidance on tactical asset allocations.

Talk to your Relationship Manager about how we can best help you meet your investment goals.

5 potential benefits of diversification1

Diversification may provide potential advantages that go beyond overall returns. But first, you need ask yourself: What are you trying to achieve with your investments?

The right choice for you depends on your overall financial goals and factors such as your level of risk tolerance. With that in mind, here are five types of potential additional rewards to consider when you’re looking to diversify your portfolio—and how to discuss them with your relationship manager.

5 potential benefits of diversification

1. Seeking income

With bond yields relatively low, you may want to consider other investments, such as dividend-paying stocks or alternative investments2. In addition, bonds may still be worth a look because their interest payments are generally more reliable.

Discuss with your relationship manager: How will your income-generation strategy impact your retirement and legacy planning? Be sure to talk about the impact of market volatility and strategies that seek to preserve your assets during times of increased market fluctuations.

5 potential benefits of diversification

2. Managing risk

Diversification may help you manage your investments’ unsystematic risk. You might want to consider strategies designed to hedge against some of the potential downside risk. Keep in mind that, when employing these strategies, overall portfolio returns may be reduced.

Discuss with your relationship manager: Ask if strategies designed to help mitigate some of your portfolio’s risk can help you maintain an appropriate level of risk based on your investment objectives.

5 potential benefits of diversification

3. Liquidity

Most stocks and bonds are relatively liquid assets, but have market risk. Many investors use these types of assets to save for major expenses, such as college tuition or a home purchase. Cash alternatives like money market funds can be used for an emergency fund when an unexpected need for cash arises; however, they have lower return potential than either stocks or bonds.

Discuss with your relationship manager: Talk through any major expenses you can foresee in the near future and discuss whether your asset mix is right for your situation.

5 potential benefits of diversification

4. Managing tax liability

Certain assets, such as municipal bonds, may offer tax-advantaged income at the federal and sometimes state levels. Income from municipal securities is generally free from federal taxes and state taxes for residents of the issuing state. While the interest income is tax-free, capital gains, if any, will be subject to taxes. Income for some investors may be subject to the federal alternative minimum tax (AMT).

Discuss with your relationship manager: Ask if your portfolio is operating efficiently and if there are tax-efficient investment strategies that could improve your tax situation.

5 potential benefits of diversification

5. Support for a social or environmental cause

With social impact investing (SII), you can support social or environmental causes while pursing investment returns by investing in companies that align with your values, such as those that produce clean energy technologies or are minority-owned.

Discuss with your relationship manager: Share the social causes that are important to you and ask if SII might be an option.

Caring for your business now—and later

You’ve built a business with passion and hard work. Working to help enhance its potential now—and thinking about what comes next—requires the same attention.

In an ever-changing economy, the ability to adapt may be critical to keeping your business healthy, and your long-term vision on track. Here are a few things to consider along the way:

  • Prioritize your goals
  • Stay on top of cashflow management
  • Take steps to help grow and preserve capital
  • Start thinking about estate and wealth transfer planning—it’s never too early

Caring for your business now—and later

And when the time comes to think about the next chapter for you and your business, there’s quite a bit to consider. Help ease yourself into the transition by staying active in the business, but reduce your time and responsibilities.

And speaking of the transition, what will that look like? Will you transfer the business to a family member? Or sell to an employee or outside buyer?

Caring for your business now—and later

Whatever course you take, start early with the planning, including managing issues like critical staff retention and family dynamics. Assess estate planning strategies and tax considerations. And it’s crucial that you accurately determine the value of your business. Here are some ways:

  • Evaluate the financial outlook of your company
  • Assess the general economic conditions
  • Analyze your industry
  • Identify comparable companies and transactions
  • Determine cashflow capacity
  • Consider marketability factors

Caring for your business now—and later

If you decide to transfer your business:

  • Select a successor
  • Create business and family governance
  • Prepare heirs in leadership and ownership
  • Evaluate the economic impact on cash flow, debt, value, and risk

But if you decide to sell, you have other considerations:

  • Understand—and articulate—what makes your business valuable
  • Identify and contact potential buyers
  • Solicit offers to maintain competitive process
  • Evaluate and negotiate terms

Caring for your business now—and later

Whichever choice you ultimately make, it will likely be an emotional one. Try to keep your emotions in check, because objective and early planning is the key to the immediate outcome of the transfer, and how well the business does in the future.

your wealth

Ways that wealth—and the values it was built on—can carry on for generations.


It’s time to talk

According to our 2018 “Children of Wealth” study1 of Gen Z and Millennial children of wealthy families, the most important thing these kids say they’ll inherit from their parents isn’t their wealth, but their values.

They think about money differently than their parents, and want to have regular conversations about it. But that doesn’t seem to be happening.

One of the keys to helping families retain wealth through generations starts with a conversation. We can help you and your family.

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Children of the wealthy

Creating a lasting family legacy

It used to be that wealth planning and creating a family legacy were left to the older generation, and younger family members had little or no say, leaving them feeling disconnected. That’s changing.

Financial professionals say taking a more inclusive approach with children when it comes to finances can lead to improved family harmony and more purposeful planning. Here are some suggestions.

Creating a lasting family legacy

Define your family’s values

When families take the time to articulate their values, it leads to a shared purpose and more collaboration. Today, younger generations have more of a stake and people want their kids involved sooner. It creates continuity and a shared mission.

While younger generations may agree with the original values of their family’s giving, they may be at odds with how the resources are deployed. With regular conversations and an intentional giving plan, families can become more unified on their philanthropy.

Creating a lasting family legacy

Discuss what gets you energized

We all see the world a little differently, but it’s okay to have differing viewpoints. It’s both natural and innately human. Explore different ways of looking at the issues. For example, some individuals may simply give money to a food bank providing access to fresh produce, whereas others may invest in teaching those in lower-income communities how to grow and cook that fresh produce.

Creating a lasting family legacy

Pass on what you’ve learned

New ways of communicating about wealth may not feel natural at first, but the more you practice the dialogue and keep an open mind, the easier things become.

Having conversations with different generations creates common ground around the purpose of giving. When you talk about things that are inherently good, that positive energy builds trust.

Choosing the right trust

Trusts are foundational to any estate plan, helping clients address concerns like preserving assets, guarding privacy, mitigating family conflict, and helping ensure that assets are distributed according to their wishes. Here, we’ll review 5 common types to help you decide which best fits your needs.

A Revocable Living Trust, the most common type, allows you to specify how your assets will be managed and distributed when you die or become incapacitated.

This type of trust can generally be changed at any time and can help to keep your assets out of probate.

Choosing the right trust

In contrast, an Irrevocable Living Trust generally cannot be changed by a beneficiary once it’s created.

A Marital Qualified Terminable Interest Property Trust provides for your spouse while helping to protect your assets for future generations. This type of irrevocable trust is appropriate if you’re concerned about your spouse’s ability to handle the family finances, or you want to ensure that your remaining assets go to your own bloodline rather than to your spouse’s children.

Choosing the right trust

A Special Needs/Supplemental Needs Trust provides for a beneficiary with a disability without jeopardizing their governmental benefits. By putting money from a personal injury settlement, gifts, or an inheritance into the trust, your heir does not need to report it as income for purposes of government benefit eligibility.

If keeping a life insurance payout from triggering estate taxes is a concern, you may want to consider an Irrevocable Life Insurance Trust, since the estate tax exemption set in the 2017 Tax Cuts and Jobs Act will drop from $11.9 million to $5 million* in 2026.

* To be adjusted for inflation

Choosing the right trust

To make tax-efficient contributions to charity while still providing for your heirs, you can set up a charitable remainder trust, a charitable lead trust, or both. The first allows you to direct payouts to your heirs for a period of time before the remainder is donated to the charity of your choice. A charitable lead trust is the opposite: The payments go to charity first and then your beneficiaries.

Estate plan check-in: 5 steps

Estate laws change often and can greatly affect your plan. We recommend meeting with your legal and tax advisors every year to keep it on track. Here’s our checklist:

One: Review your personal balance sheet

Verify that new assets are listed, liquidated assets have been removed, and all assets are held in the correct designation with the right primary and secondary beneficiaries.

Estate plan check-in: 5 steps

Two: Check your current estate planning documents for updates and revisions

Three: Review your key goals and issues

Your primary issues and goals can change. If they do, be as specific as you can to drive the correct financial choices.

Four: Account for other changes

This could involve tax code changes, the birth of a child or grandchild, or marital or other family changes.

Estate plan check-in: 5 steps

Five: Check with your advisors before making any changes

Some apparent inconsistencies are actually done for strategic reasons. For example, many estate plans leave assets to a spouse in trust and outright to take advantage of certain income tax benefits. Before making any changes, review with your estate planning lawyer or fiduciary professional.

Need an estate plan check-up? Your relationship manager will coordinate specialists from The Private Bank to work with your tax and legal advisors to help ensure that your strategies are aligned.

Making an impact
with your wealth

Trends, stories, and guidance about using wealth to do good.

What is social impact investing?

A strategy to align your investments with your values, social impact investing (SII) can be an effective way to help tackle global, environmental, and societal challenges—while still considering your risk and return objectives. Our team will work with you to develop a portfolio that supports the impact you want to make, whether it’s social change, renewable energy, the ethical treatment of animals, or support for your religious beliefs.

Seeking profit with a purpose

As a child, Anthony Alves remembers collecting coins in a cardboard box to fight hunger. Now his own kids can support an array of causes from their wireless devices.

“My children have so much more of a global view than I did,” says the father of four.

When he sold his food manufacturing business, Alves set out to create a wealth transition plan for his children and build a portfolio around investments that align with his personal values.

This example is for illustrative purposes and does not represent any specific investments or strategies.1

Seeking profit with a purpose

Alves engaged in a Social Impact Investing(SII)3 strategy, when he first came into contact with Wells Fargo Private Bank. We offer solutions that help align your investment strategies with your values.

Lloyd Kurtz, head of SII at Wells Fargo, says that interest in this type of investing is surging. In fact, from 2016 to 2018 sustainable and responsible investing grew an additional 42%. Approximately 33% of the total U.S. assets under professional management are invested in sustainable and responsible strategies.2

This example is for illustrative purposes and does not represent any specific investments or strategies.1

Seeking profit with a purpose

Kurtz attributes the growth to several factors: increased access to information (including performance data), the growing diversity among investors, and millennials championing purpose over profit.

Alves’s 13-year-old daughter has chosen to invest in organizations offering therapeutic horseback riding for children with disabilities, programs for neglected animals, and other animal welfare causes she’s passionate about.

“Our children are learning how to direct money from our trust toward investments that produce a return and do good.”

To start creating your own SII strategy, contact your relationship manager.

This example is for illustrative purposes and does not represent any specific investments or strategies.1

The giving continuum

At The Private Bank, our individualized approach involves more than simply suggesting strategies to address your philanthropic objectives—it’s a collaborative experience that helps clarify your values, your goals, how you define success, and your next steps.

In order to make the most impact, we recommend creating a system of sustained giving. Your philanthropic specialist will work with you through every phase of our giving continuum.

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Giving Continuum Infographic

Amplify your philanthropy

At one time, contributing to a good cause meant writing a check, but opportunities to make an impact are changing. Many are now investing with specific objectives in mind, and in a way that reflects their values. It’s investing for profit and purpose.

And it’s no longer niche. According to the 2020 Annual Impact Investor Survey by the Global Impact Investing Network, 294 of the world’s leading impact investing organizations manage nearly $404 billion in impact assets in total.

Here’s how to supplement charitable efforts with social impact investing strategies.

Amplify your philanthropy

1. Research social impacts

Gaining knowledge about a company’s performance, industry trends, and products is necessary to understand how they’re addressing these issues, and help narrow the number of firms that would fit into a social impact investing portfolio.

For example, in addition to looking at common metrics, consider whether a company has programs to reduce energy waste, or whether it has a diverse set of leaders in its executive suite.

Amplify your philanthropy

2. Schedule a meeting

Portfolio managers can help incorporate environmental, social, and governance (ESG) analysis into the decision-making process, making a judgement that includes ethical and social value considerations.

3. Embrace the potential benefits

While contributions to a single nonprofit can be important and impactful locally, social impact investing can help you encourage positive change more globally. Prompting companies to adopt the values associated with social impact investing into their business practices may correlate to long-term shareholder value.

Amplify your philanthropy

4. Face the challenges

While all investing involves risk, an investment’s social policy may mandate that it forgo exposure to certain industries, companies, sectors, or regions of the world, which could affect portfolio performance.

But analysis over the years has indicated that including social responsibility screening as part of investment strategy generally has not had a negative impact on potential returns, with the drivers being the same as any other portfolio—risk and diversification.

Asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns nor can diversification guarantee a profit in declining markets.

Amplify your philanthropy

5. Stay on track

New impact investing products are rapidly entering the market, and more and more we’re seeing the ability to track ESG performance by industry with metrics. No longer do investors have to cross their fingers and hope their philanthropy is making a difference. Now they’ll be able to track it.

Your intentional giving plan

Giving USA 2021 reported that Americans gave $471.44 billion in 2020, strong numbers that reflect growing opportunities to align charitable giving to personal goals and values.

Because today’s donors want to be more strategic about their charitable giving, they often create an intentional giving plan rather than solely responding to charitable requests.

Your intentional giving plan

Dig into the details. Maximize your impact.

Look over your giving history to see where you might better align with causes you really care about.

You also want to consider other goals. Are you looking for a tax benefit? Do you want recognition or anonymity? Are you interested in creating a legacy?

And take a hard look at the organizations you’re considering. Are they sustainable, well-run, and making a high impact in their areas of interest? You might even decide to perform site visits or consider volunteering yourself to see the charity in action.

Your intentional giving plan

Solutions beyond checkwriting

Sometimes an outright gift makes the most sense, but there are options that might amplify your impact.

Below are additional options you may want to consider speaking with your advisor about:

  • donor advised funds
  • charitable remainder trusts
  • charitable lead trusts

Your intentional giving plan

Philanthropic journeys evolve

Your priorities change over time, and your intentional giving plan will too. Consider an annual review to make sure it’s on track with your objectives and your wealth management plan—and to make sure you’re up to date on the charities you support.