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Behind Wealth Management In NYC

By January 7, 2021No Comments
wealth management nyc

Meet the PMC Family: Wealth Advisors in New York

Looking for great wealth management in New York? You’re sure to find your match at Payne Capital Management, where helping people make the most of their money is the family business. 

In 2008, Bob Bryant co-founded wealth management firm Payne Capital Management with his son Ryan. “In starting PCM, I wanted to take my 40 years of refining and revolutionizing the financial services industry and deliver that knowledge to the individual investor through an exemplary customer service model,” says Bob. 

Two years later, Bob’s son Chris joined the team as a wealth advisor. Together, father and sons have grown the business to include a solid team of wealth management professionals.

Growing up, Ryan shares, he often observed Bob on the phone with his wealth management clients. “One of my biggest impressions of the financial management business from the start,” he says, “was that it was all about relationships and great communication.”

“The work is really rewarding,” adds Chris. “You’re helping people realize their long-term financial goals, and you get to see that progress unfold over time.”

How to Find a Wealth Advisor in New York

Wealth management in NYC isn’t as tough an egg to crack as you might think. When looking for the right fiduciary professional to work with, the brothers have the following advice to offer:

“Likability is a big deal,” says Ryan. “You can be working with the best financial planner in the world, but if you don’t like that person, you’re not going to talk to them. You’re not going to pick up the phone. You’re not going to trust them with your finances and your life goals.

If I sit down with an advisor and the conversation isn’t around goals first, that’s a big problem. It’s like when you go to the doctor, they always check your vitals first, then they give you the prescription — not the other way around. The conversation always needs to revolve around you and your plans. If someone’s not doing that, you don’t have a real financial advisor.”

Chris concurs: “A lot of it comes down to emotional connection. How well do you get along with that person? You have to have trust, right? Are you in sync with that person on an emotional level?

The truth is, people are most sensitive about three things: their homes, their children, and their money. So, when you have that emotional connection with your wealth advisor, you begin to create mutual trust and respect.

And it really does go both ways. For example, oftentimes I will not take on a client that I don’t have a connection with. As important as it is for them to trust me, I have to trust them too.”

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Wealth Management NYC in 2021

With 2020 being as crazy as it was, what do the brothers have to say about wealth management in New York for 2021?

Chris says: “The first thing I tell everybody I meet who is concerned about market volatility is, ‘Look at the day you were born and look where the market was, then look at where the market is today.’ I turned 40 recently, so if I had a dollar the day I was born, I would have had about a 2000% return. There’s really no point in history you could point to unless you were born yesterday where the market hasn’t appreciated over time.”

“I recommend optimism over everything else,” says Ryan. “We had one of the biggest selloffs ever, a global shutdown, and here we are at the end of the year and the markets have recovered. Never bet against humanity and people’s ability to figure things out. People are always going to find a way to grow. Take the opportunity to connect and take advantage of the stock market.”