High Net Worth Insight (US) > Profiles of Success

As a leading provider of intelligence to the financial services community, High Net Worth Insight is proud to share strategies from the most compelling Financial Advisors we've encountered.

Featuring:

PETER GRAVE
Morgan Stanley Smith Barney
Boston, MA
Age: 29
Education: BA, Economics, University of Colorado
Trailing 12-month Production: $150,000
AUM: $250 million (part of team)

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Recently featured in Registered Rep. magazine, Peter Grave offered the advice to:

"Commit on day one to growing a practice or get out of the business"
You see, when Peter was a junior financial advisor in the RGL group (a group of three financial advisors in Morgan Stanley Smith Barney's Boston office) he was challenged with raising between $10 million & $20 million in net new assets each of his first two years. He was halfway through that target last year and is poised to repeat. This, of course, is a great achievement especially considering this market environment where investor fear is prevalent. Peter leads his team in providing wealth management services to Boston's C-level executives, especially in the hot biotech and venture capital sector. This is where he prospects most. He looks for "liquidity events" where cash can land in the laps of a company's top executives. By tailoring strategies such as 10b5-1 plans, highly-important tools for executives strapped with large concentrated stock positions, he often quickly earns trusted-advisor status.

Peter prospects for executive's using High Net Worth Insight.
High Net Worth Insight enables him to track new company hires, venture capital financing, M&A and insider stock transactions or even search by alma mater. He and his team also have the firm's approval to access investment banking opportunities (these were strong in September as Morgan Stanley handled eight IPOs in just a two-week interval).

"Lots of opportunities in the market"
In the early months of the year, he found prospecting was very difficult as clients demanded the full attention of his team, but has noticed his calendar slowly filling up, once again, meeting with potential new clients. He realizes there are a lot of disappointed, frustrated clients and simply asks these individuals if their advisor had a plan for them and if they're happy with it. He's found this to be a highly-revealing question.

When asked how he thinks he's made it this far, Peter cites "attitude."
He recognizes the training programs are stacked with smart and talented people, but he questions their commitment to building a practice? He says, "if you show up on day one waffling about it then the crash came, well that was a very tough period there that I think shook a lot of those people out,".

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