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Featured Advisor

Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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What Investors Think About the Banks With Which They Work

In a Spectrem study, investors suggest which banks they are considering expanding their relationship with.

| BY Kent McDill

Wealthy investors do business with numerous banks and form opinions about the banks with which they work as well as the banks which they do not have accounts. Those opinions, related to performance and reputation, are part of Spectrem’s research into investors and their assets.

In Spectrem’s research study titled “Asset Allocation, Portfolios and Primary Providers”, Ultra High net Worth investors with a net worth between $5 million and $25 million were asked their perceptions of the providers with whom they work. While almost 30 providers were listed for their perusal, some providers scored much higher in certain categories than others.

For instance, these Ultra High Net Worth investors were asked which banks they were “familiar with” and Bank of America was noted by 89 percent of the investors. Fidelity was tabbed by 85 percent, Charles Schwab by 83 percent and Merrill Lynch by 82 percent. Twenty banks were selected by at least 50 percent of the UHNW investors.

(The Spectrem study segments the investors by age, wealth, advisor dependency and occupation as well).

With the continuing use of social media as a communication device between investors and their providers, the UHNW investors were asked which bank had the most visible social media presence, and Charles Schwab got the top nod at 68 percent of investors. Fidelity and Bank of America were second and third in social media presence.

While most UHNW investors have set relationships with banks and financial providers, there are some investors who plan to start or increase their relationship with banks, and 45 percent of UHNW investors said they were likely to start or increase their usage of Vanguard in the future. Thirty-six percent said they were going to increase usage of Vanguard, and 28 percent said Charles Schwab was likely to get new business or more of their business in the near future.

Vanguard got the No. 1 spot among companies with expertise in managing money, with 82 percent of UHNW investors rating it for that expertise. Fidelity and Charles Schwab finished second and third among the 28 banks suggested in the Spectrem study.

 Sixty-five percent of investors selected Vanguard for having innovative products and services, and Fidelity was the only other bank chosen by at least 60 percent for that quality (64 percent). Vanguard was also No. 1 for having talented advisors, selected by 81 percent of UHNW investors.

About the Author

Kent McDill

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.