An interview with Marc A. White, Jr.

In a crowded industry where trust, expertise and personalized service are paramount, how does Clarendon Private stand out? Our CEO, Marc A. White, Jr. shares his insights

In this Q&A, Marc discusses the importance of culture, the evolving landscape of wealth management, and how Clarendon Private helps clients navigate financial uncertainty with confidence.

How does Clarendon Private differentiate itself from others in such a competitive industry?

I have always believed that a firm's greatest asset is its people. In our industry where we are asked to be stewards to protect and safeguard our clients' assets, the culture of your firm is critical.

Therefore, the principles of trust and character are paramount in everything we do and impact each client we serve.

Teamwork is also important as it relates to our clients. We are a Registered Investment Advisor (RIA) and in addition to our investment capabilities and wealth planning, we also offer our clients banking and lending services. The ability to advise clients on both sides of the balance sheet is unique for RIAs and requires subject matter experts truly working together as a team to provide comprehensive solutions that are in the best interest of the client.

What specific strategies do you use to help clients navigate today's financial uncertainties?

While diversification, asset allocation and risk management are essential components to navigate uncertain financial markets, we believe client knowledge and understanding is equally important.

To increase client awareness, Clarendon Private hosts exclusive events with industry experts that include both global economic and sector specific topics. These events serve as a platform for clients to increase their knowledge, directly engage with industry experts and gain insight into the thought process behind investment decisions. This personal access not only empowers our clients but also helps humanize the investment process, making it more collaborative and easier to understand.

How do you keep a client-first approach at the core of what you do?

We built Clarendon Private as a boutique wealth management firm specifically for wealthy clients frustrated with having to sacrifice high-touch service for best-in-class investment solutions. For years, top-tier investment offerings and private banking services were the exclusive domain of large global banks and investment firms, often at the cost of personalized client service and customized portfolios. Today, boutique private wealth managers can access the same premier investment offerings and capabilities as the large firms, while providing clients with a higher level of personalized service and customization. This distinction lies in the ability to prioritize clients' unique needs without the limitations often seen at larger institutions.

At large broker-dealers, for example, financial advisors are often stretched thin, juggling multiple roles such as investment management, business development and client service. This broad focus can dilute the quality of service and attention each client receives. At Clarendon Private, we address this gap by taking a team-based approach, bringing together specialists in portfolio management, estate and financial planning and dedicated client service. This allows us, as a boutique wealth firm, to spend more time with each client and develop a deeper understanding of their unique needs and goals.

By design, Clarendon Private's agile structure enables us to have a closer working relationship with our clients. Our team-based, integrated approach to wealth management is designed to meet the unique needs of each client, ensuring they are at the core of every decision we make.

How do you educate and empower clients to take an active role in their financial planning?

We believe financial planning is most effective when it's a partnership. We take the time to explain complex financial concepts to our clients and help them understand how their goals align with the strategies we implement. Through regular communication and collaborative planning, our objective is to ensure clients feel comfortable in making decisions about their financial future. We believe empowering them with knowledge helps clients stay engaged and in control of their financial journey.

Every client is different, so it is critically important that we learn about their specific financial needs, as well as understand their short and long-term goals. To gain this knowledge, we ask thoughtful, personalized questions tailored to their individual circumstances. There is no script; the answers to these questions provide critical insights into what matters most to them.

Most importantly, once we have gained this information, it isn't "set it and forget it." Rather our dedicated team of investment and financial planning professionals has regular ongoing conversations with the client. As the process is interactive from the beginning, our clients feel empowered and encouraged to speak up about significant developments in their life.

Is there an emerging challenge or opportunity in the industry that excites you? If so, how are you preparing for it?

In constructing diversified portfolios for clients, the use of alternative investments has become an increasingly attractive asset class. Only a fraction of the companies with revenue over $100 million are publicly traded. For investors to get the widest exposure possible to the economy at large, a private market allocation needs to be considered. 

Historically, if you wanted access to alternative investments, particularly private equity, hedge funds, real estate or venture capital, you could only obtain access through global banks or large brokerage firms. In addition, investors generally needed to have a net worth greater than $30 million, the ability to handle $1 million minimums per investment and a willingness to withstand long lock-up periods.

However, in recent years, this dynamic has shifted. Net worth and minimum requirements have come down significantly and liquidity in the space has improved, allowing access to a greater number of investors.

Embracing the changing landscape has allowed Clarendon Private to use alternatives as part of a thoughtful, diversified portfolio for clients.

What advice would you give to someone just beginning their financial planning journey?

My father had a big influence on my life. When I was young, I would periodically say that I was bored. My father's standard reply was, "Go get a book!"

He always said education and knowledge are powerful tools for success. I now give that advice to all young people starting out. Read and learn as much as you can. I encourage them to do their homework before making any important financial decisions, whether it be buying a house, investing in the market or even applying for a credit card. The more knowledge you have, the better prepared you will be to make informed decisions. An intrinsic desire to learn will propel your journey to success.

Clarendon Private, LLC is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Clarendon Private and its representatives are properly licensed or exempt from licensure. For additional information, please visit our website at https://www.clarendonprivate.com/ or the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov by searching with Clarendon’s CRD # 316616.