Some people are natural investors and enjoy spending hours following the stock market. Talking with a financial advisor can feel like deciphering a foreign language for the rest of us. In the end, establishing a relationship with an advisor always comes down to trust. 5T Wealth understands this. Co-founder Paul Krsek said their mission is “to be the trusted primary advisor for individuals and families.”
Krsek and his wife Meghan opened their wealth management firm in 1998 in St. Helena. Before that, he had been working with Wall Street firms for years. She had been in public accounting. He had seen firsthand how conflicts of interest drove many business models, sometimes in direct opposition to their clients’ interests. In the company’s early years, Krsek advised people to hire an advisor if they didn’t have the five key characteristics that would allow them to manage their wealth successfully. They were the 5 T’s: Time, Temperament, Technology, Talent and Team. The 5 T’s caught on so well that a client advised them to change the name of their company, 5T Wealth, LLC. “The 5 T’s are as relevant today as they were 25 years ago”, said Krsek. “Perhaps even more so because of how quickly the industry is adapting and changing. Stresses on investors are greater than ever.”
Time is probably the easiest one for clients to understand. “Our clients usually don’t have the time to review investment opportunities and stay current on what’s happening in the markets. Even if they do, it’s hardly what they want to be doing with their free time”, noted Chris Roth, 5T Wealth’s Chief Investment Officer. Fortunately for their clients, 5T Wealth’s investment team is paying attention to the twists and turns of markets and looking to reallocate portfolios to either protect capital or take advantage of opportunities.
Temperament is critical for making solid financial decisions while keeping emotions out of the way. Making decisions and appearing committed to lifelong goals is easy when everything is going smoothly. Staying even-tempered and determined enough to manage through tough times to achieve those goals is another thing. The Krseks, Chris Roth, and the rest of the 5T Wealth team have demonstrated decades of even-tempered, skilled management.
Technology is playing an ever more critical role and 5T Wealth is taking full advantage for its clients. Krsek said, “There are many solutions today in administration, communications, trading, financial planning, tax planning, and investing that simply weren’t around when we started. Chris Roth, our Chief Investment Officer, interacts with investment teams and technology platforms around the world on a daily basis. He has fully automated our trading so that we can customize portfolios to suit our client’s needs and make investments in the most tax-efficient ways.”
Talent can refer to understanding investors’ various options in today’s market and determining which are suitable for each client. 5T Wealth offers more than its investment talent, including financial planning, tax planning, and charitable giving planning. Family Office Services also set 5T Wealth apart, led by Meghan and her team.
Team may be the T that most sets 5T Wealth apart from other advisory firms. Every member has years of experience, is skilled at their job, and is truly dedicated to the client’s well-being. Krsek proudly stated, “This is an amazing veteran team. I’m so happy they have all dedicated their careers to our clients. Chris Roth is simply the best investment advisor I’ve ever met.”
