Masters in Business · Friday, September 25, 2026
Adam Frank emphasizes that in wealth management, personal relationships and trust are paramount, often outweighing short-term investment performance. He also highlights the critical shift from wealth accumulation to wealth preservation, especially during market downturns and for individuals transitioning from active careers.
“But in part, especially in the months leading up to March of 2008, because they had personal relationships with the advisors and they trusted the advisors not to lead them astray, not to do anything that was not in the client's best interest.”
“And it reinforced the lesson of diversification as a way to preserve wealth. Not a way to build it necessarily, but it's definitely a way to preserve it.”
“It has been, it's a change in mindset and particularly for business owners who step back from the business, either because their kids are taking over because they've sold it or because they affirmatively want to do something else, it's a very hard mindset shift to go from an owner-operator, whether that's of a business or of your portfolio, right?”