‘Phenomenal Platform:’ Silver Bridge Capital Management, LLC

Stephen E. Prostano, president of Silver Bridge Capital Management, LLC, says, “A lot of firms say it, but we do put our clients’ interests first.” That’s demonstrated in their approach, “which is collaborative in our educational programs…and the information we provide on an ongoing basis to clients through an exceptional proprietary reporting capability and communication plan.” 

New clients are found through a “very comprehensive marketing and communications plan” that runs the gamut from corporate sponsorships “of phenomenal events our target clients don’t necessarily have available to them” to relationship building, work with a media relations company, and education through the website. The firm has already launched A Woman’s Perspective, offering a curriculum on various financial topics, and this fall plans to launch the Silver Bridge Institute—“broad-based education for families and next-generation business owners.” 

Typical Silver Bridge clients are individuals or families with “really complex needs, who require a trusted advisor that can deliver truly customized solutions,” says Prostano. “The bottom line is that we simplify their lives, allowing them to focus on…their own passions.” 

The firm has kept itself above reputational damage inflicted by the economic crisis, Prostano says, because of its heritage: “our affiliation with a parent company [Wilmer Cutler Pickering Hale and Dorr, LLP] based on fiduciary responsibility.” Through that heritage, he explains, “we’ve had eighty years of working with multigenerational families, understanding their needs and differences, and how unique each family is.” The cornerstone of what the firm delivers is “the right information, the right education.” Advisory people and investment platforms, he says, have become commodities; “you can go to any good firm and get a great portfolio.” What Silver Bridge clients need and can’t get elsewhere, he says, is “someone who can look at everything and make effective decisions for their future.”

The factor that differentiates Silver Bridge, Prostano adds, is the “phenomenal platform” it’s built. “We can go head to head with the largest firms and boutiques” with the firm’s investment platform and philosophy, wealth advisory and planning capabiities. “Our investment on technology and reporting was done simultaneously with enhancement to our products and services,” he says, and clients “absolutely” receive “the best consolidated financial reports” and other services. Trying to make the best decisions without the best information is a long and laborious process, he says; the information Silver Bridge provides is “the only way to help them simplify their lives.”

While Silver Bridge’s relationship with its clients includes aspects of advocacy and financial management, “we have a family office platform. We work with families and family offices to provide them with the resources that they need.” Some functions could be outsourced, Prostano says; “we will do whatever financial and nonfinancial aspect of their lives they need…we can help them design something that’s cost effective, or redesign [what they have] to get it to that place.”

Prostano, who is one of the supporters of The Committee for the Fiduciary Standard’s Fiduciary Statement, believes, “If you’re providing advice, you absolutely should be held to [a] higher standard….People typically going to brokers have fewer assets and are, maybe, less sophisticated. So not to hold brokers to those standards was ludicrous.”—Marlene Y. Satter

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