Steven L. Fradkin on the Creation of Wealth (Podcast)

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 24 November 2021

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Opinion columnist Barry Ritholtz speaks with Steven Fradkin, president of Northern Trust's wealth management business unit, which has $355 billion in assets under management. Fradkin was previously chief financial officer and head of international business at Northern Trust, among other roles. He has been a member of the corporation’s management committee since 2004.

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Transcript

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0:00.0	This is Mesters in Business with Barry Reynolds on Bloomberg Radio.
0:08.4	This week on the podcast I have a special guest.
0:11.1	His name is Steve Fredkin and he runs one of the larger pools of assets that he probably
0:18.4	had no idea about.
0:20.2	He is the president of Northern Trust's wealth management.
0:23.7	They run over $350 billion in client assets.
0:27.9	They serve some of the wealthiest families in America.
0:30.6	One in five wealthy families actually has assets with Northern Trust.
0:35.7	They have something like 20% of the Forbes 400.
0:39.5	Just a very interesting perspective on how to manage through periods of uncertainty,
0:46.4	changing tax laws, rising inflation, all sorts of really interesting perspectives.
0:52.1	It's less about predicting the future, Steve tells us, than thinking in terms of planning
0:57.8	and probabilities.
0:59.8	I think that was really interesting advice.
1:02.7	He is about as knowledgeable as anybody is going to get in the both wealth management business
1:08.8	and ultra high-nouth worth management business.
1:12.1	I found the conversation really intriguing and I think you will also.
1:16.0	With no further ado, my interview of Steve Fredkin of Northern Trust.
1:23.2	This is Master's in Business with Barry Reynolds on Bloomberg Radio.
1:29.4	My special guest this week is Steve Fredkin.
1:32.3	He is the president of Northern Trust's wealth management running about $355 billion in assets.
1:40.6	They serve about one in five of the wealthiest families in America.
	...

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