Features | Aug. 2023
BASES COVERED
By Mitch Hurst
PHOTOGRAPHY BY IAN MCLEOD
Claire Ellerhorst, Kathleen May Yoder
When it comes to wealth management, individuals and families have a host of options to choose from to identify investment strategies and create intergenerational wealth. Yet, finding the right option that meets their financial needs, helps them reach their goals, mitigates risk, and ensures comfort that their money is in good hands can be a challenge.
Those who choose to place their trust in Fifth Third Private Bank can tick all the above boxes. Fifth Third provides comprehensive, individually customized investment services to individuals and families with a minimum of $2 million in wealth. The bank also serves high-net-worth and ultra-high-net-worth clients.
Kathleen May Yoder, Senior Vice President and Regional Director of Personal Trust Chicago for Fifth Third Private Bank, says one of the things that differentiates Fifth Third from other corporate fiduciaries in Illinois is the team approach to wealth management.
“We surround our clients at $2 million and up with the same level of service, the same collaborative team, and the same subject matter experts no matter their level of wealth once they’re in the Private Bank,” May Yoder says. “Our clients are all different and have their own complexities. It is our belief that each client deserves the highest level of personalized guidance and solutions to meet their financial needs effectively and efficiently.”
Fifth Third gets to know each of its clients at all levels of wealth and to understand their family dynamics to ensure it is providing the right fiduciary solutions.
“Each client has a dedicated portfolio manager who is their portfolio manager and doesn’t have any dual functions,” says Claire Ellerhorst, Vice President and Senior Portfolio Manager at Fifth Third Private Bank. “The sole focus is to study the markets and the economy and to use that expertise to create customized investment strategies.”
Ellerhorst says Fifth Third maintains a highly credentialed portfolio management team and the team is supported by analysts and strategists who provide resources and research to help bring the best ideas forward so the team can make the right decisions for a client’s portfolio.
The Fifth Third Private Bank team takes the time to understand their clients’ intent and what they want their money to do for them. They want to understand the “why” to provide the best investment, estate planning, and tax planning solutions to meet the client’s goals and objectives.
“Many clients either have not yet solidified their estate plan or are unsure of what their current plan provisions include.” May Yoder says, “Our fiduciary team works alongside Claire and her team, as well as the other subject matter experts, to review the investment strategies with a lens for estate and tax planning. We sit down and say, ‘Let’s make it work for you and customize it to make sure we meet your goals—today, tomorrow, and for future generations.’”
Fifth Third Private Bank recently opened a new branch in Northbrook, at 400 Skokie Boulevard, as part of an overall bank strategy to be integrated with the communities in which it conducts business.
“We really want to be present in the communities that we’re serving,” May Yoder says. “We take time to understand our clients and provide guidance and solutions that are right for them.”
To schedule a meeting with a Wealth Management Advisor and learn more about Fifth Third Private Bank Chicago, visit 53.com/Private-Bank or call the Northbrook office at 847-275-1778.
Fifth Third Bank does not provide tax, accounting or legal advice. Please contact your tax advisor, accountant or attorney for advice pertinent to your personal situation. This commentary is intended for educational purposes only and does not constitute the rendering of investment advice or a specific recommendation on investment activities or trading. Fifth Third Private Bank is a division of Fifth Third Bank, National Association, which is an indirect subsidiary of Fifth Third Bancorp. Banking, investment and insurance products and services are offered through or made available by one or more of Fifth Third Bancorp’s indirect subsidiaries. Investments, investment services, and insurance:
Are Not FDIC Insured | Offer No Bank Guarantee | May Lose Value | Are Not Insured By Any Federal Government Agency | Are Not A Deposit Insurance products made available through Fifth Third Insurance Agency, Inc.
