BOSTON, Jan. 23, 2020 /PRNewswire/ --ETHIC, a Wealth Bank, with headquarters at 125 High Street in Boston, announces its inception. ETHIC is the first of its kind in that it offers a complete platform of banking and wealth management solutions with exceptional client service supported by sophisticated yet user-friendly technology. With more than thirty-five years of leadership experience in building private banking and wealth management businesses, Marc A. White Jr., is President and CEO of ETHIC.
"We recognize a need to shift the lens through which people consider wealth," said White. "Wealth should be about the person first—values, challenges, goals, legacy—and then the focus should shift to finances and planning. With this approach, we are the first resource for our clients, as they make any meaningful decisions and problem solve throughout their lives."
Recent data measures Massachusetts as having more than $600 billion in high-net-worth individual investable wealth, which ranks the Commonwealth as the 6th wealthiest state in the nation.1 There are approximately 1,700 Massachusetts residents with a net worth of $10 million or more,2 and findings released in January 2018 calculate the fifty wealthiest people in Massachusetts as being worth a combined $133 billion.3 In a national ranking of the fifty states with the most millionaires, three New England states are in the top ten—Connecticut, Massachusetts and New Hampshire.4
"What we have built at ETHIC shouldn't be unique, yet it is. We are one place that efficiently takes care of all banking and wealth planning needs. We are shifting the pendulum away from ineffective automated systems to the best practices in personalized client service supported by integrated technology and transactional simplicity," said White. "At some point in this business, technology overtook the personal relationship. Financial institutions' services have become segmented into different silos; client service has become almost non-existent. It's not efficient, and it's not fair. We are changing that at ETHIC."
ETHIC's management team also represents a shift from the traditional. Although deep in banking, wealth management, and technology expertise, this collective brain bank has experience in entrepreneurship, community engagement, and global philanthropic endeavors. This eclectic team has been thoughtfully constructed to successfully integrate with and respond to the unique wealth management and banking needs of clients representing every generation, Boomers – Generation Z.
"We recognize that every client banks and plans for the future in different ways. Some people love to be presented with lots of data, whereas others just want to ensure that their needs are being met, and they don't desire more engagement than that. Some people like to conduct all transactions on their smartphones, others choose to meet face-to-face, and then there are those who prefer a combination of both. We customize our service and solutions based on our clients' needs and interests. It's that simple," said White. "We are the trusted advisor for every generation from grandparents focusing on the legacy they'll leave behind to millennials who are beginning to think about how to grow wealth and plan for the future."
About ETHIC Founded in 2019, ETHIC, a Wealth Bank, provides one comprehensive platform of integrated banking and wealth management services, tailored solutions, transactional ease, and exceptional client service for New England’s expansive high-net-worth community. ETHIC was developed to meet the banking and wealth planning needs of every generation and support clients in living a life in which their values are prioritized, their personal and professional endeavors are achieved, and goals are realized. ETHIC is committed to shifting the lens on wealth, adhering to a style of client service that prioritizes people before financials. ETHIC’s headquarters are in Boston, MA. Please visit www.ethicwealthbank.com.