Frontier Bank's Wealth Advisors Help Clients Create a Long-Term Plan and Stick With It
Jul 09, 2020 03:00PM
By MED Magazine
Just as you cannot reach your desired destination without a map, the financial experts in Frontier Bank's Wealth Management & Trust department say you are unlikely to reach your financial goals without a comprehensive plan.
"The very first thing we do with any client is sit down with them and listen to what their goals are," says Wealth Advisor Brad Lupkes. A native of Rock Rapids, Iowa, and a graduate of the University of Sioux Falls, Lupkes has been with Frontier for eight years. "Whether their goal is to leave an endowment or send kids to college or plan for retirement, we listen and then put together a plan specific to reach those goals. That is at the heart of everything we do."
Lupkes says Frontier's clients can rest easy knowing that every aspect of that plan is created according to what is in their best interests. Frontier Bank Wealth Management & Trust is a Fiduciary, which legally obligates them to prioritize client interests over any other consideration.
"The fiduciary standard is the highest standard in wealth management," says Senior Vice President, Gary Popkes. "Unlike brokerage representatives or insurance agents or registered investment advisors, holding ourselves to the fiduciary standard means that we are legally required to do what is in our clients' best interests one hundred percent of the time. We never wear any other hats. This also means we have the greatest level of responsibility."
Popkes is also a native of Northwest Iowa and has owned multiple businesses, making him uniquely qualified to understand the needs of business owners. He has been a certified financial planner for more than two decades, spending over half of his career in trust departments. Both he and Lupkes are shareholders at Frontier and do not work on commission.
"We are paid a flat percentage based on the assets we manage for our clients," says Lupkes. "So I'm never looking at how much an investment might pay me. I'm always looking at what investment is best for my client."
In addition to financial planning, the Wealth Management & Trust department offers asset management, risk management, estate planning, private trust services, and corporate and self-employed retirement plans. They can even manage less common investments such as farmland, commercial property, real assets such as gold and silver, or interest in an LLC.
"Being a community bank, we have a lot of unique situations and we can accommodate them because we have that flexibility," says Popkes. "We are not so large that we have a lot of internal self-made rules and regulations. We are small enough that we can be nimble and accommodate unique or unusual situations or clients with unique circumstances."
Frontier's wealth advisors take a team approach to wealth management, working closely with clients' attorneys, insurance agents, CPAs, or other advisors to craft and review the long-term financial plan.
"Having that plan allows our clients to look at their investments in terms of decades instead of months or even years," says Lupkes. "When you are making decisions based on that longer-term horizon, you do not have to worry about day-to-day market volatility."