At the end of 2011, I founded SJM Fiduciary Advisors. The firm was named after my family, “S” for my wife Susan, “J” for my son Jack and “M” for my daughter Meghan.
I told Susan that, in starting the firm, I wanted to build something special that could flourish by striving always to do the right thing for others (be a true fiduciary). She said that the family was behind me and so SJM Fiduciary Advisors was born.
After building the firm to advise over $1.3 billion for a select group of clients, I was at a crossroads. I had built a successful business but I did not have succession capability or a partner to help make sure the business was sustainable over the long term for the benefit of my partners (clients and fellow professionals).
While thinking about what was next, over the Summer of 2014, I had dinner with a long-time friend and financial services colleague, James “Jamie” Cornell. Over the course of the evening, we realized shared the vision of building a partnership that would put the interests of others first.
“Preston and I have known each other for over 10 years and have both been successful at senior levels in various financial services firms. We have seen what works, and unfortunately what does not. Both of us want to build a firm our families can be proud of that forms lasting partnerships with our clients, fellow professionals and our community.”
After a few more dinners, lunches and planning meetings, Jamie and I decided to transform SJM Fiduciary Advisors into a new joint partnership named Fiduciary Wealth Partners.
We wanted the name of the firm to make a statement about the importance of true fiduciary relationships with clients. In our view, the term fiduciary is overused because it is too often misused.
“We specifically picked the word ‘fiduciary’ to lead the name of the business to make a statement about the standard of care we find most important.
“By acting as what we call ‘true fiduciaries’, we focus on the interests of our clients first and do not make choices that could put us in positions of conflict with our clients.”
We understand that, in managing clients’ wealth, we are being entrusted with money that is for the benefit of their family members and other important beneficiaries. This is why we use the word “partners” in our name. We view our clients as partners and are constantly asking ourselves the following questions:
“Are we putting the interests of our partners first?”
“Is this advice that we would give to our own families?”
In working on behalf of our partners, we bring our experience to bear. Together, Preston and Jamie have over 60 years of experience in senior management and advisory positions with financial services, investment management and trust firms, working with wealthy families. Our practical experience with the implementation and success – or lack thereof – of complex strategies matters. For more information about our experience please, visit the Fiduciary Wealth Partners’ Experience page.
Finally, and importantly, our values at Fiduciary Wealth Partners form our foundation. What really matters is how we treat people and the Transparency, Simplicity and Peace of Mind (TM) we bring to our partners. It matters to us so much that we trademarked the phrase.
To learn more about how we approach our business, please visit the Values page of Fiduciary Wealth Partners. Hopefully the plain language gives you an idea of who we are.
Preston McSwain is a Managing Partner and Founder of Fiduciary Wealth Partners, an SEC registered investment advisor committed to forming fiduciary wealth partnerships with clients, professional colleagues, and the community. To see more of his posts, and follow him on social media, please visit the following