Investment services help Alaskans meet financial needs: catering to the needs of large companies, small business owners, and individuals.

• Author: Barbour, Tracy
• Position: FINANCIAL SERVICES - Company overview

Alaska's investment and brokerage firms offer a wide array of services to help businesses and business people meet their financial goals.

For instance, Wedbush Securities has a myriad of product offerings to cater to the needs of large companies, small business owners, and individuals. The company's solutions emphasize "proven investment concepts and smooth operation while avoiding a clutter of undifferentiated products," according to Senior Vice President Investments and Anchorage Region Manager Norman Parrott.

Wedbush, which touts a customer-first approach, offers everything from municipal bonds, insurance, and annuities to mutual funds, retirement plans, and managed asset programs. Its clients can also take advantage of a number of services to enhance their investing experience, including online account access, a consolidated statement for multiple household accounts, interest on cash balances, competitive margin loans, and central cash management for securities, checking, and Visa Gold Card transactions.

"What we do is we specialize in custom building tax-efficient, cost-effective portfolios for high net worth individuals, retail investors, corporations, institutional investors, nonprofits, and investors of all kinds," Parrott says. "We also give our clients our best price first."

Wedbush is one of the largest securities firms and investment banks in the nation, with almost one thousand employees in more than ninety offices. The privately-held company, founded in Los Angeles in 1955, has operated an office in Anchorage since 1971. It is the largest subsidiary of holding company Wedbush, Inc., which also includes affiliated firms Wedbush Bank, Wedbush Capital Partners, Wedbush Opportunity Partners, Wedbush Asset Management, and Lime Brokerage LLC. "All of our advisors have the strength and resources of our affiliate companies," Parrott says.

Alaska investors can also capitalize on the extensive resources of Wells Fargo Private Bank, which provides products and services through Wells Fargo Bank, NA and its various affiliates and subsidiaries. Wells Fargo Wealth, Brokerage, and Retirement (WBR) is one of the largest wealth managers in the United States. WBR includes Wells Fargo Advisors, the third-largest investment brokerage in the country; Wells Fargo Private Bank, serving high-net-worth individuals and families; Abbot Downing, serving ultra-high-net-worth families; and Wells Fargo Retirement, which manages $279 billion in institutional retirement plan and pension assets for 3.7 million Americans.

Wells Fargo's wealth management solutions cover the full gamut, from 529 education plans to retirement plans to estate planning. "There just isn't anything we don't have," says TerriLee Bartlett, a wealth advisor with Wells Fargo Private Bank's Anchorage office. "If our clients have a wealth or retirement planning need, we can find a solution."

St. Louis-based Edward Jones is another major source of investment and retirement services for Alaska businesses. The company is a full-service brokerage firm and private partnership with more than twelve thousand financial advisors in the United States and Canada. Edward Jones currently serves nearly 7 million clients and is the country's sixth-largest financial services firm. The company's advisors assist clients with stocks, mutual funds, annuities, and fixed-income investments, as well as estate and trust issues. Edward Jones also offers a full assortment of retirement plans to help business owners provide for the future for themselves, their families, and their employees.

When selecting a retirement plan, businesses need to consider several factors, including the size of their operation and total number of employees, says Anchorage-based financial advisor Justine Whitman, who holds the Accredited Asset Management Specialist designation. For example, if a business has no full-time employees, other than the owner and the owner's spouse, it might consider a Simplified Employee Pension (SEP) plan or an owner-only 401(k), sometimes known as an individual or solo 401(k). Or, if the goal is to contribute as much as possible, consider an owner-only defined benefit plan. If the business has employees, it might want to investigate a SIMPLE IRA or even a 401(k) plan. "Your financial advisor, working with plan design professionals and your tax advisor, can help you analyze the options and choose the plan that fits with your combined personal and business goals," Whitman says.

Nonprofit Organizations

Nonprofit entities can establish...