Portland Trust Company Partners with WGTECH in Wealth Management Firm Launch
The founders of Portland Trust Company, a new wealth management firm based in Portland, Maine, understand that building partnerships with customers means earning their trust. So when it came time to build secure, high-functioning, and flexible IT systems for their new company, they knew they needed a partner that they could trust. WGTECH has been by their side from the start, advising on all aspects of IT from designing networks and systems, to navigating regulatory compliance audits.
Amelia Kurtz, CTFP, and James MacLeod, Esq., founded Portland Trust Company in 2015, a modern-day wealth management firm that offers a host of financial services to help clients with complex financial needs, including investing and managing money as well as trust and fiduciary services. Customers include individuals as well as businesses and municipal entities. When they launched the business, they knew they needed help with IT strategy and systems, and placed the call to WGTECH even before they started building out its office space.
“Our goal is to offer friendly, professional and customized financial service to the people of Maine,” says Amelia Kurtz, CEO of Portland Trust. “We knew there were a lot of precautions we had to take with technology, and we knew we didn’t know how to do it. And we wanted to do it right from the start.” In addition to solid expertise on all aspects of information technology, Portland Trust wanted a company that could deliver personalized service. “Right from the start, we knew that WGTECH was listening to what we needed. They are small enough to be friendly and nimble, but highly qualified,” says Kurtz.
The ramp-up time was short, and the list of needs for Portland Trust were long, particularly since it must comply with regulations that govern the operations of financial institutions. “From a regulatory perspective, we need a super high level of security,” says Kurtz. WGTECH conducted a site survey that included important details such as cabling during the build out. It designed and built the internal data network, and advised on application technology delivery solutions Portland Trust should consider and implement. It also worked with the team on hardware technology selection and configuration.
Portland Trust has two different office locations and often meets with clients where they live or work as well, so it needed technology that was flexible, powerful, and mobile. An example was using Microsoft’s new Surface tablets, and Kurtz was pleased that WGTECH could help through the installation and configuration process of effectively deploying this technology which is not common yet within the corporate workplace.
WGTECH remained by the side of Portland Trust Company during the first crucial months of starting the business, training them on the most effective methods to use their systems, delivering timely and cost effective IT support, and showing creativity and nimbleness in how they managed emerging situations. So when the time came for the company to prepare for an IT audit, its first call was to WGTECH.
These comprehensive audits ensure that financial institutions have identified any risks to their business or to clients, and have taken steps to mitigate them. Portland Trust was happy to find that WGTECH had experts on staff with experience prepping for financial IT audits, and was able to walk them through the process. “WGTECH was proactive before the audit to make sure we had everything that was required, and that we were completely educated about our systems so that we fully understand the ins-and-outs of how our client’s information is protected,” says Kurtz. “We were able to meet our requirements and to explain how our systems were set up, where they could be risks, and what we had in place to protect our business and clients.”
For Portland Trust Company, working with the right IT partner was a critical decision. It has deep expertise on all things financial, but recognized the value of the advice and guidance from WGTECH for addressing its IT needs. “Our clients don’t know what we know about financial information – it was the same situation with WGTECH. We knew very little about the IT that we’d need to put in place,” says Kurtz. “WGTECH took care of us.”
Overall, Portland Trust has found what it looked for most in an IT provider – a true partner. “WGTECH is a major part of our launch and our success,” says Kurtz. “We rely on them and they are a huge, very important partner to us.”