"Success for me is when we have created a working environment where the team feels like the strategic plan is all theirs, that they have a license to stretch themselves, and we are having fun. It is also about executing a strategy smartly, understanding where the linkages are ahead of time, and avoiding duplication," says John Dowd.

In the complex world of wealth management, John Dowd, CEO of Fiduciary Trust International, stands as a beacon of leadership and innovation. With over 30 years of experience, he has not only witnessed the evolution of the industry but has actively shaped its trajectory.

John's journey to the pinnacle of wealth management began with humility. Starting in an entry-level position, he immersed himself in every aspect of the business, tackling what he fondly calls "dirty jobs." This hands-on experience not only provided him with a keen understanding of operational nuances but also instilled the confidence needed to lead the business towards improvement.

At Fiduciary Trust International, John has orchestrated a seamless integration of traditional values with contemporary expectations. The 90-year-old trust company, under his guidance, blends stability, integrity, and dedication with the modern demands of speed, digital delivery, sustainable investing, and diversified access. According to John, the company's core values—client-centricity, objectivity, independence, and a commitment to technical excellence—have remained unwavering.

For John, success is not just about personal achievements but about fostering an environment where the entire team thrives. His strategic approach involves anticipating linkages, avoiding duplication, and embracing the dynamic nature of the industry. This philosophy, coupled with a deep appreciation for the specialized skills of his team, has cultivated a unique culture at Fiduciary Trust International—one that retains both clients and advisors for an average of 20 years.

 

Join us as we unravel the insights and strategies of John Dowd, a visionary leader shaping the future of wealth management with a blend of tradition and innovation.

 

Pioneering Trust Services since 1931

Founded in 1931 in New York, Fiduciary Trust International emerged as a trailblazing trust company with a distinct mission. The company aimed to eradicate inherent conflicts found in prevalent wealth management models of its time—a commitment that remains steadfast even today. Specializing in providing comprehensive investment management, trust and estate, tax, and planning services, Fiduciary Trust International caters to high-net-worth (HNW) clients globally.

John, a representative of the company, emphasizes, "Our specialists operate in dedicated teams, stationed across offices throughout the US." Boasting over $90 billion in client assets under its vigilant care, Fiduciary Trust International has been an integral part of the esteemed Franklin Templeton family of companies since 2001.

 

Project Snow Lion

John reflects on his proudest moment, a pivotal juncture when the entire firm rallied behind the strategic reboot, Project Snow Lion. This grassroots initiative aimed to enhance the client experience, advisor satisfaction, and competitive positioning. Other gratifying industry accolades adorned the firm's achievements, such as being featured in Barron's article for doubling the size of Fiduciary within an impressive 4 years and winning the Family Wealth Report Awards for Excellence in Family Wealth Counseling and Independent Fiduciary/Trust Services, Project Snow Lion held a unique significance. John reminisces about witnessing its journey from ideation to execution and now reaping the substantial benefits it has brought to the firm.

 

A Day in John's Productive Life

John orchestrates his daily schedule, revolving around four pivotal activities that form the cornerstone of his professional life:

• Thought Leadership: Staying abreast of market trends, industry dynamics, technological advancements, and emerging trends.

• Operating the Business: Overseeing the Profit and Loss (P&L) statements, managing product performance, and driving product development initiatives.

• The Client Experience: Engaging with clients, contributing to new business endeavors, and ensuring client retention.

• The Advisor Experience: Collaborating with internal teams, communicating overarching strategy, and providing directional guidance.

Despite the dynamic nature of his responsibilities, John maintains a disciplined approach to ensure each facet receives its due attention. He acknowledges that, on certain days, one area might require more focus than the others, but he strives to strike a balance.

John emphasizes the challenge of maintaining equilibrium, particularly in the wake of the COVID-19 pandemic. To combat this, the team implements meeting moratoriums, especially during holidays, to prevent work from encroaching on personal time. They also incorporate social activities into their business agenda, hosting regular employee engagement events.

Remaining authentic and accessible is crucial for John. He believes in being true to himself, creating an environment where open communication flourishes. Despite the complexities, John's passion for his work, the camaraderie with his colleagues, and the unique narratives of each client keep him motivated. Echoing Warren Buffett's wisdom, John emphasizes the importance of choosing a profession that feels like an exciting endeavor every day.

The tall stature of 6 '7 adds a unique visual element to John's daily routine, making it a literal and metaphorical journey that he genuinely looks forward to starting each day.

 

Innovative Vision for Wealth Management

John, a key figure at Fiduciary Trust International, emphasizes the company's fervent embrace of innovation. Burning the midnight oil, he immerses himself in contemplating new trends, client needs, and market demands. According to him, a prime example of this innovation is evident in Fiduciary's endeavors with digital assets. With the progression of blockchain technology, forward-thinking asset managers, exemplified by its parent company, Franklin Templeton, are exploring opportunities to tokenize and trade illiquid assets globally, 24/7. John highlights that high-net-worth (HNW) clients are increasingly drawn to these assets due to their potentially higher return profiles. He reveals, "This is the impetus behind Fiduciary's efforts to provide digital custody services, underscored by our recent investment in North Capital."

In his quest to stay ahead of industry changes, John remains closely connected to the "disrupters." Fiduciary actively invests in fintech start-ups, with John personally contributing his expertise as a board member to two of them.

With an ambitious vision, John aspires to position Fiduciary Trust International as the unrivaled gold standard for wealth management on a global scale. He expresses confidence, stating, "Our exceptional people, products, and culture make this goal highly attainable."

For budding business enthusiasts, John considers them fortunate to be alive in an era marked by dramatic technological innovation. He shares his anticipation, saying, "Witnessing the solutions that technology will bring to our clients in the future will be nothing short of fascinating."