INVESTED IN YOU

Karl Lorenz (CFP®, CRPC®) has devoted his career to helping individuals and families meet their short and long-term financial goals. He spent 26 years at Merrill Lynch before joining Morgan Stanley in October 2020, bringing decades of professionalism and industry experience. But if you ask any of his Lake Forest neighbors exactly what this Morgan Stanley Senior Vice President does to earn a consistent spot on the Forbes Best-In-State Wealth Advisors List, few might know the answer. He and his wife Jennifer are both active in the North Shore community, but what does it mean to work in wealth management? We were curious to find out and sat down with Lorenz to learn more.

Tell us more about what you do?

Our mission is to help our clients live the best life possible with the financial resources available to them. Our core function is to assist clients with the investment management of their savings. But that is not done in a vacuum. We prefer to have a “blueprint” for how to invest these funds, so we regularly engage our clients in retirement planning, college planning, loan and liability management, and trust and estate planning strategy discussions. Morgan Stanley has vast capabilities to service clients with a variety of financial needs, and we are the “hub” for all those services.

What does success mean to you?

To me, it’s not always about amassing more and more clients. If I set our team’s service and performance standards at a certain level, indiscriminately adding new clients inevitably dilutes my team’s ability to really get to know the clients. Like every other relationship, great communication is something that requires investment. It should be nurtured and improved with time. When the clients and I are regularly engaging each other with a shared purpose and from a position of mutual trust, I feel we have forged a successful relationship.

What are the ingredients for successful long term investing?

In the absence of experience, knowledge, and perspective, emotions take over. This is natural and why you routinely see large swings in the market. I believe the lifelong process (and it is a process) of successful investing is comprised of three equally important ingredients: 1. having a clear vison of what you’re looking to accomplish 2. perfecting what you can control and 3. reacting appropriately to what you can’t. My job is to help with all three.

What characteristics as a financial advisor set you apart from others?

Empathy and patience. After so many years working with clients, I have come to the realization that financial markets—and their machinations—are a complete mystery to most people. While I don’t have a crystal ball, I do have quite a bit of perspective, experience, and the willingness to share those in easy-to-understand English. This is important because if I invest the time and empower clients with knowledge, we are much more likely to make wise choices when it matters most.

What would you say is your greatest competitive advantage?

Well, in addition to having highly competent people on my team, I would say my combination of experience and age presents a unique proposition. I would imagine most clients are hoping for longevity in a professional relationship, but also value decades of experience. Sometimes that can be mutually exclusive. I am 53 years old and have been in the business for 30 years. I suppose I would say that’s the best of both worlds.

What should people know if they’re interested in contacting you?

Just call me; I don’t bite. There is never any pressure applied or commitment expected. While I can’t guarantee we’ll have a good fit, I can guarantee I will make every effort to provide value to anyone who takes the time to reach out. If I can’t help you, I will point you in the right direction to someone who can.

And what should people expect on this first call?

Well, I say this with a chuckle, but I call it a “speed-dating call.” I will generally schedule a 15-minute call to learn about the client’s situation and what they are looking for in an advisory team. No preparation necessary or document gathering at this point; just an opportunity to see if we have a potential fit. If so, a meeting is our next step.

For more information, call Karl Lorenz and The Lorenz Group at Morgan Stanley at 847-291-5646 or visit advisor.morganstanley.com/the-lorenz-group. Lorenz can also be reached by email at [email protected].

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111 S. Pfingsten Rd. Ste. 200 Deerfield, IL 60015

Source: Forbes.com 2018-2020, & 2023 Forbes Best-In- State Wealth Advisors ranking awarded in 2018-2020 & 2023. Each ranking was based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher). This evaluation process concluded in June of the previous year the award was issued having commenced in June of the year before that. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to SHOOK Research LLC to obtain or use the ranking. This ranking is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and this ranking may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance.

Morgan Stanley Smith Barney LLC is not affiliated with SHOOK Research LLC or Forbes. For more information, see www.SHOOKresearch.com. Morgan Stanley, its affiliates and Morgan Stanley Financial Advisors do not provide tax or legal advice. Individuals should seek advice based on their particular circumstances from an independent tax or legal advisor.

The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

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