First Private Bank & Trust Forms a Strategic Relationship With Wilshire Associates Incorporated.Individual High Net Worth Investors Now Have Access To Wilshire Funds Management Services SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif. -- First Private Bank & Trust, a leading Los Angeles-area private banking and wealth management firm and the local affiliate of Boston Private Financial Holdings (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BPFH BPFH Boston Private Financial Holdings, Inc BPFH Bastard Programmer from Hell ), today announced a strategic relationship under which Wilshire Funds Management, a business unit of Wilshire Associates that provides nearly $20 billion in traditional and alternative multi-manager investment Multi-manager investment is an investment product that consists of multiple specialized funds. Each specialized fund may invest across different sectors and markets, or having managers investing in the same asset class but have different investment styles. solutions to institutional clients, will provide investment services to First Private customers. "This agreement marks a unique opportunity for private banking and trust clients in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, to take advantage of Wilshire's internationally renowned investment management expertise," said Gary Helme, executive vice president, First Private Bank & Trust. "First Private now brings Wilshire's talent to the high-net-worth market in the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area. Our relationship meshes institutional investment know-how with the high level of service offered by First Private. The results are custom-tailored investment programs that reflect our clients' objectives and tax sensitivities. It's a unique offering and First Private's fiduciary fiduciary (fĭd  `shēĕ'rē), in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. and investment clients will be the only private
bank clients able to take advantage of the service."
Wilshire will work with First Private to develop a multi-asset class manager platform and provide asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. and portfolio management expertise for First Private customers. Through its "open architecture" approach, Wilshire offers access to leading national investment managers across the asset management spectrum at very competitive rates. Wilshire's services for First Private customers are based on Wilshire's decades of experience and success in the institutional investment advisory business. "Prominent families and foundations in Los Angeles have been saying for some time that they would prefer an open architecture approach to investing so that they don't feel limited to a brokerage, bank or trust company," adds Sally Pai, Chief Investment Officer with First Private. "Wilshire's architecture is 100 percent open. We believe this offering will be extremely appealing to First Private's individual customers." First Private's primary focus is on wealthy individuals, families, family offices, and foundations in the greater Los Angeles area The Greater Los Angeles Area, or the Southland, is the agglomeration of urbanized area around the city of Los Angeles, California, United States. There are two "official" definitions—the Los Angeles metropolitan area consisting only of the Los Angeles and Orange . About First Private Bank & Trust First Private Bank & Trust is a provider of customized private banking and wealth management solutions to high net worth individuals and small businesses. First Private focuses on forming enduring relationships with its customers and strives to deliver the highest level of personal service, providing a broad menu of banking and investment products to meet their financial needs. First Private is a member of the Boston Private Wealth Management Group, which has more than $32 billion in managed or advised client investments. About Boston Private Wealth Management Group Boston Private is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company which owns independently-operated affiliates located in key geographic regions of the U.S. Boston Private's affiliates offer private banking, wealth advisory and investment management services to the high net worth marketplace, selected businesses and institutions. The Company's strategy is to enter new markets primarily through selected acquisitions, and then expand its wealth management business by way of organic growth. It makes investments in mid-size firms in demographically attractive areas, forming geographic clusters that represent the firm's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
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