By Ken Abramczyk
Breece Private Wealth Management Group, led by Justin W. Breece, has partnered with TSG Wealth Management to create what he feels will be “the best of all worlds.”
After nearly two decades as a wealth adviser — that including achieving many key accreditations such as a family wealth adviser, alternative investment director and executive director — Breece and his team decided they wanted to explore the independent channel to enhance customer experience. Breece has been perennially recognized by Forbes Magazine as a best-in-state wealth adviser in Arizona from 2018-22.
As Breece stated, “Through independence we can commit to being a true fiduciary to our clients, devote 100% of our focus to our clients’ lives and deliver advice in an unincumbered and modern manner. Further, among the many lessons coming out of a pandemic is that we need the ability to be flexible with our practice management to attract and retain the highest level of professional talent. Making decisions at the local level for the benefit of our clients and our practice is critical and can only be achieved by leaving large top-down organizations.”
While diligently investigating his options over a year, Breece learned about TSG Wealth Management, a dynamic and robust firm managing around $7 billion as of December 2022 with 11 offices and highly accomplished advisers, including Mark Schulten, a Barron’s Top 100 Private Wealth Teams from 2021-22, that were seeking the right team to enter the Scottsdale/Phoenix market.
“From the initial call with CEO Brian Borst, it felt like the perfect fit. We feel we are in complete synchronicity in all the key areas of business and life. TSG understands the importance of delivering world-class wealth management solutions, resources and a differentiated client experience that very often transcends the professional relationship.”
Breece, now a managing director at Breece Private Wealth Management, will work closely with Mark Correa, who is also a managing director in their newly opened office in Kierland Quarter.
The Forbes Best-in-State Wealth Advisors rating algorithm is based on the previous year’s industry experience, interviews, compliance records, assets under management, revenue and other criteria by SHOOK Research LLC, which does not receive compensation from the advisers or their firms in exchange for placement on a rating. Investment performance is not a criterion. Self-completed survey was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria.
The Barron’s Top 100 Private Wealth Teams ratings are based on the previous year’s assets under management, revenue generated for the advisers’ firms, and the quality of the advisers’ practices. Investment performance isn’t an explicit factor because clients have varied goals and risk tolerances. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria.
“Ironically, going independent with TSG has deepened and enhanced my resources that I deliver to my trusted clients. There is a real culture of partnership among the entire team, including having dedicated portfolio managers, custom lending experts and investment planning professionals. Further, though we aren’t employees, we are able to tap into the vast resources offered through Wells Fargo Advisors, including their 1.2 trillion balance sheet for client safety and their tax planning, philanthropy, lending, business banking and investment banking.”
Breece brings his own skill set to TSG, including being a corporate securities attorney, investment banker, wealth adviser and portfolio management director, with over 20 years of experience in financial services. “Especially for my private business owners, they often appreciate that I can understand them in a entirely deeper level given my legal, investment banking, entrepreneurial and financial advisory background.”
Another virtue of TSG that Breece finds attractive is its commitment to younger professionals and its life evolution. Breece says he is passionate about educating young advisers. The industry is very top heavy with older advisers; accordingly, Breece, similar to TSG, is devoted to developing younger talent that learns how to properly care for clients.
“I was very fortunate to have been trained by some special individuals with a meticulous program designed for modern, comprehensive, planning-based advisers. As such, I was able to give back and improve the quality of advice being delivered.”
Correa will be working with Breece’s team daily to foster a team of dedicated client service specialists and helping develop the TSG brand in Scottsdale, Correa has over 25 years of experience, most recently with Wells Fargo Advisors in San Luis Obispo, California. Correa and Breece also share an extensive background in working with professional athletes and entertainers.
Breece takes a consultative approach to clients, similar to the way in which he did as a successful business attorney. This incorporates developing a deep understanding about all aspects of the client’s life that goes well beyond numbers. A critical part, according to Breece, of this job, is to help them manage their emotions in life and investing.
“Continuous learning and an in depth understanding of client needs gives me a road map about how I want to go about investing,” Breece says. “It gives me that much more clairvoyance. Once we have a targeted, customized rate of return goal with the client that’s agreed upon, then it’s up to me to figure out what are the right tools I can use that gives us the best opportunity of success while taking the lowest amount of risk.
“Once you get that customized rate of return goal that the client completely understands, that has a powerful impact because it should turn down some of that emotion.”
Correa focuses on working directly with clients to determine their unique goals. “We focus on taking the stress away from the clients and transferring it to us,” Correa says. “We want to ensure our clients can achieve their goals in all aspects of life. We want to foster lifelong relationships with our exceptional customer service abilities.” Correa focuses on blue chip stocks with dividend growth and strong balance sheets, taking customer needs and interests into consideration when developing an investment mix.
Investments depend on the client. Of course, stocks and bonds play a key role in the investment mix, but Breece also works on tax efficiency for his clients. For the right clients, alternative private investments are offered. He doesn’t invest in products he doesn’t understand.
Breece works with business owners, who may receive an offer from business equity fund or someone within their own industry to purchase their company. Breece helps with liquidity equity planning. “Many times, that number on paper is quite exciting, and the inclination or knee-jerk reaction is to accept it. That tends to be where I am drawn in. What we will do is unpack the business valuation but answer the question of what that will mean for their personal life. What does it mean in the context of ‘Let’s walk through it, if you do accept this, and sell the business for this price.’”
Breece creates a detailed analysis and evaluation to help sharpen the client’s mind and create clarity for the business owner to make a better, more elevated decision.
What is next in 2023
“Predictions are difficult to make, especially in our industry. Those who say that they know with certainty what will happen are misleading,” Breece says. “The true key is to have a plan that can adjust and adapt to our rapidly changing world whether that be financially or otherwise. Through working with our clients, that is what Mark, myself and the TSG team excel at.” Interestingly, through his years of experience Breece has developed one thing that he believes remains steady.
“I do have strong views, but there is only so much we can control. However, there is one relative constant in the world and that is human behavior,” Breece says. “Markets will always move, cycles will always occur, and humanity will continue to further prosper. Human and societal psychology have held true through many difficult times. We have always came out stronger than before and adapted to any circumstance that has been delt to us.” It is these thoughts that help Breece remain driven and focused. “If I can make a difference and leave my mark, whether that be for an individual or for society, that is what motivates me.” It is not solely Breece who is driven by this goal either. When asked about his team at Breece Private Wealth Management, Breece states, “We are working to develop a wonderful and knowledgeable team here at Breece Private Wealth Management. Regardless of what the world brings us we will be ready to perform to our highest capabilities. We are here for our clients and we are here to make a positive impact.”
Wells Fargo Advisors Financial Network is not a legal or tax adviser.
Investment products and services are offered through Wells Fargo Advisors Financial Network LLC (WFAFN), Member SIPC. TSG Wealth Management is a separate entity from WFAFN.