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Truist Perspectives magazine Coping with complexity 5 tips for dealing with life’s uncertainties. A simple plan Why comprehensive wealth planning is important for every family. Make a clean getaway Find fun and adventure on land and at sea. February 2021
Table of contents
Welcome to
08
Discover why a comprehensive financial plan is
key to pursuing your goals—and how the Essential
Truist Perspectives Elements of Wealth fit into that plan.
As the head of Truist Wealth, I would like to personally
welcome you to our inaugural issue of Truist Perspectives
magazine. In these pages, we share the tools, tactics, and
ideas to help you ignite your potential and broaden your
horizons. It’s a window into what’s working for investors,
communities, businesses, and markets.
2020 was a year like no other. Though we may have seen
investment values increase, no one came out of last year
unscathed by a sense of loss. As we enter 2021, we remain
steadfast and optimistic, with a bright, clear vision of the
future—a sentiment reflected in the striking purple glasswork
on the cover of this publication.
In “Our take,” we asked four Truist team members for advice
at this crucial moment. As Financial Advisor Kris Funkhouser
says, we turn to our core values and long-term goals when
faced with great uncertainty. This is why a comprehensive
financial plan based on the Essential Elements of Wealth is so
important. When in doubt, the plan you have developed with
your Truist advisor can be your North Star.
For producer and songwriter Christopher “Tricky” Stewart,
a Truist client featured in this issue, continuing to grow as an
artist keeps him focused on the future, though it would be
easy for him to dwell on his illustrious past. Family and faith
keep him open, grounded, and happier than he has ever been.
At Truist Wealth, our mission is to inspire you with innovative
ideas to achieve your greatest potential, and help build better
and stronger communities. You can learn about how small
businesses and organizations impacted by COVID-19 have
benefited from more than $50 million in strategic grants
through the Truist Cares initiative. And we are just getting
started.
We hope you enjoy this issue, and many more to come.
Joe Thompson
Head of Truist Wealth
CEO, Truist Investment Services, Inc.
Truist Advisory Services, Inc.
02
Pulse
04
Insights
12
Feature
Get tactical tips and timely Thought leadership on family, Producer "Tricky” Stewart
advice from the Truist team. social investing, and more. is focused on the future.
Investment and Insurance Products:
• Are not FDIC or any other Government Agency Insured • Are not Bank Guaranteed • May Lose Value 16
Community
18
Time off
20
Inspire
Truist helps small businesses Travel safely—and luxuriously— Words that offer a unique
and nonprofits thrive. during COVID-19. perspective.
Copyright © 2021 Truist Financial Corporation, 214 N. Tryon St., Charlotte, North Carolina, 28202. Find us online at Truist.com/wealth.
Pulse: News Pulse: Expertise
Truist Wealth: Our take:
A new vision Tips from the Truist team
Building wealth. Protecting assets. Generating income in retirement. At Truist Wealth, As we look at the year ahead, no one can truly predict what turns life will take. But we can
we’ve combined the capabilities of SunTrust and BB&T to offer a seamless transition make choices about how we prepare and react. We sought advice from four Truist team
and holistic financial management that goes beyond your portfolio. members to learn their best takeaways from 2020 as well as important tips for this year.
Dynamic solutions
As you accrue wealth, your goals may change over time. We provide solutions that Update your estate documents
address your needs every step of the way—whatever your destination happens to be. Making sure my clients have their estate documents in order Tanya Battle
has always been a priority, and COVID-19 made it all the more Wealth Advisor
Signature crucial. In addition to staying in close touch with my clients Richmond, Virginia
For those who have built $1 million or more in assets, we help increase your during this time, my team and I have been busy helping them
confidence in the future. Your dedicated Truist advisor will work closely review their estate plans and speaking to their CPAs and
with you to understand where you are and what you want to achieve. Fiscal forecast attorneys. If you have your estate positioned right, it will help
Reserve you through any unexpected crisis that may come along.
If you have between $5 million and $25 million in managed assets, Truist
The Truist 2021
Wealth delivers a full range of dynamic, customized solutions, from innova- Annual Financial Maintain an optimistic outlook
tive lending approaches to more sophisticated investment opportunities.
Outlook Report There is a tendency for people to come out of a year like 2020 Amir Mossanen
GenSpring is available now. and to say to themselves, “I never want to feel fear and stress Senior Wealth Advisor,
Substantial wealth of $25 million and more in assets creates exceptional Market President
like that again.” They want to hide away. But if you live in fear,
opportunities and requires a diversified set of solutions. Your team of Learn what you can you’ve given up. My best advice is to be optimistic about the Los Angeles, California
advisors can help you address concerns about asset management, family
dynamics, and creating a legacy that honors your values. expect in terms of future, because we are inventive, creative, and resilient. At the
same time, we can prepare for the unexpected by doing things
both global and like maximizing liquidity and restructuring debt.
domestic economic
Specialized expertise activity and invest- Protect your assets
Certain groups and careers face a unique set of financial
challenges and opportunities that benefit from an ment opportunities It’s more important now than ever to protect your assets against Renee Keen
physical and cyber threats. As part of general risk mitigation, National Practice Leader
insider’s knowledge. Truist Wealth has advisory teams in the year to come. even individuals should consider hiring an IT professional to for Small Business and
that specialize exclusively in specific sectors, such as: Personal Insurance
make sure your firewalls, passwords, and protections are set
• Medical professionals & practices
Download a PDF of up correctly to prevent anyone from getting access into your McGriff
Raleigh, North Carolina
• Attorneys & law firms
our annual outlook system. If you have bought new property or vehicles in 2020,
be sure you are protecting all of that as well.
report and watch
• Athletes & entertainers
our experts discuss Focus on long-term goals
• International wealth
the findings by In 2020, many people made financial decisions based on
• Business owners Kris Funkhouser, CFP®, CPWA®
going to: truist. short-term emotional reactions, without falling back on their Financial Advisor
• Foundations & endowments long-term financial plans or life goals. My advice would be, stick Atlanta, Georgia
com/annualoutlook to your North Star—your long-term goals—to guide you through
No matter what you do, or where you are on your wealth these storms. Have a plan and lean on that framework when
journey, Truist advisors have the knowledge and expertise times are challenging. Short-term events end up being a blip on
to help you reach your full potential. As you pass each the radar when you focus on an expanded time horizon.
financial milestone, from retirement to philanthropic
giving, we’ll be by your side, helping you create a mean-
ingful legacy to pass on to future generations. Amir Mossanen, Registered Representative, Truist Investment Services, Inc., Investment Adviser Representative, Truist Advisory Services, Inc.
Kris Funkhouser, Registered Representative, Truist Investment Services, Inc., Investment Adviser Representative, Truist Advisory Services, Inc.
McGriff Insurance Services, Inc. is a subsidiary of Truist Insurance Holdings, Inc.
. February 2021 | 03
Insights: Family Insights: Investing
Let’s talk about money
Financial literacy and communication are key to ensuring the transfer of generational wealth. We
offer three simple tips for teaching your children about money.
There’s an old proverb that says, they’ll become spoiled, unmotivated, Even very young children can learn
“Shirtsleeves to shirtsleeves in three or entitled. “They also worry their how to save, spend, invest, and give.
generations,” meaning the wealth kids will feel isolated from friends,” Older kids and adult children can
accrued by one generation disap- Herritt says. “And as kids get older, absorb more complex topics.
pears by the end of the third, leaving parents may worry about what to
the fourth generation to roll up their say when estate plans change or When you are paying a bill or making
Invest according to your values
sleeves and recreate the wealth. conflicts arise.” a credit card purchase, use those
opportunities to educate your kids
The meaning of this proverb is clear: Despite these concerns, a recent on financial topics. You can also find
Generational wealth transfer isn’t study found that most of the next age-appropriate books, apps, and
guaranteed. In fact, according to a generation of inheritors do want to materials on subjects such as saving, Sustainable investing is far more than a trend. Learn how you can make more of an impact
2010 study by Roy Williams and Vic talk about money with their parents. investing, and philanthropy. Explore with your financial decisions.
Preisser, roughly 70% of generational They just don’t know how. topics that are particularly important
wealth transfers fail. The same to your family. With one dollar in every four societal concerns with respect to “With impact investing, whether
study finds that financial errors only You can start with these three tips going toward sustainable investing, investment decisions. Exclusionary it’s targeted toward green
account for 15% of those failures; the to engage in conversation with your Take time to teach your children putting your money where your SRIs can be thought of as socially technology or improving access to
rest are due to poor communication, kids, no matter their age. about your family history. Who values are can no longer be called responsible investing 1.0. As an healthcare, you expect a financial
lack of trust, and unprepared heirs. created the wealth and how? a trend. A look at the demographic example, religious institutions return—but more importantly,
1. Communicate Understanding those sacrifices data makes it clear—more than might use them to ensure their investors strive to create positive
You can start discussions about can inspire the next generation to two-thirds of millennials age 24 to investment programs omit certain environmental, social, and gover-
money when your kids are as young protect the family legacy. 39 are interested in making an industries that are not consistent nance-related change and long-
“Parents are more as 5 years old. Begin by focusing on environmental and social impact with the goals and teachings of term value,” says Frohsin. “With
willing to talk to their family values. 3. Collaborate with their investments, according that institution.” pure philanthropy, you are really
Include your children in the to The Economist magazine (Oct. looking to create a public good.”
children about sex “Your values and beliefs guide every decision-making process and create 24, 2020). Sustainable investing ESG (Environmental, Social, and
learning opportunities for them. Let
than about money.” decision in your life,” Herritt says.
“If you communicate your values them make mistakes when the stakes
is also changing the future of
business as companies and money
Governance) informed investing
strategies, however, can be
David Herritt, head of the Truist around money, then when you face are low. Kids who make mistakes will managers realize that nonfinancial thought of as socially responsible More than two-thirds
Center for Family Legacy a difficult decision or conversation,
you can point back to those values.”
learn about consequences and will
carry these lessons with them.
drivers have an enormous influence
on their ultimate valuation.
investing 2.0. “Instead of omitting
certain sectors, they actively pur-
of millennials age 24
sue products or services that have to 39 are interested
Herritt suggests creating a family “You want the next generation to There is no one-size-fits-all shown a demonstrably beneficial
“Parents are more willing to talk to mission statement. “Family members have a seat at the table and know approach to sustainable investing. societal impact,” says Spencer
in making an
their children about sex than about
money,” says David Herritt, head of
can share what’s most important you’re willing to listen to them,” Before deciding which funds or Boggess, managing director, environmental and
to them,” he says. “It helps create a Herritt says. “As they get older, they investments are right for you, alternative investments research,
the Truist Center for Family Legacy. roadmap based on what the family can step confidently into their role consider what kind of impact you’d Investment Advisory Group. social impact with
“But if you’re not communicating,
how will you prepare them for their
wants to accomplish in the future.” as responsible caretakers of the
family wealth.”
like to make. Are you passionate their investments.
about the environment? Eradicat- Studies show that ESG scores are
future responsibilities?” 2. Educate ing poverty? Saving endangered linked to stock-specific perfor-
Financial literacy is essential, but species? Or perhaps you are mance. Thus, many businesses
Make time to talk very few K – 12 educators include it primarily focused on revenue but understand the value in managing Customize your approach
Talking about wealth doesn’t come in their curriculum. That means it’s prefer to invest in companies that certain nonfinancial factors to “Often, when we talk to clients
naturally. Parents often fear that if up to parents to guide their children are good corporate citizens. minimize costs and mitigate about what they’re trying to
their children know about wealth, on this important subject. firm-specific risk, and in turn they accomplish, they want to leave a
Both social and seek to generate higher revenues. legacy; they want to impact the
financial returns world,” says Boggess.
Sustainable investing comes in In addition to SRI and ESG
many flavors, explains Kelly investing, you can express your “We can help our clients achieve
Frohsin, director, manager values through impact investing their wealth goals because we
research, Investment Advisory and philanthropy. Through impact have a broader perspective of
Group. “Socially Responsible investing, you work closely with an how those goals map to their
Investment funds (SRIs) tend to be advisor to create a custom portfolio psychology, values, and intentions,”
exclusionary in nature, recognizing that aligns neatly with your particu- says Boggess. “And Truist has been
corporate responsibility and lar concerns and beliefs. walking that walk for a long time.”
Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
Kelly Frohsin, CFP®, CIMA®, Registered Representative, Truist Investment Services, Inc., Investment Adviser Representative, Truist Advisory Services, Inc.
Spencer Boggess, Investment Adviser Representative, Truist Advisory Services, Inc.
February 2021 | 05
Insights: Leadership
Coping with a complex world
Volatility, uncertainty, complexity, and ambiguity (VUCA) are all around us.
How we respond can make us happier and more resilient leaders and people. 5 practices for handling VUCA
If you’re looking to In 2008, my wife and I bought a
building downtown in the city where
helping business teams work together
more successfully. The leaders I meet
learn about VUCA, we live. We were happy to be invest- might be working with VUCA from
ing in a district that was undergoing external sources, like the pandemic or
2020 offered plenty a revival, and we took out a five-year competition in their industry. Or they
of examples to study. loan for the purchase. A few months might face it internally from a change
later, our financial advisor guided us initiative in their organization.
VUCA stands for not to get ahead of ourselves about
When I coach leaders about how to
volatility, uncertainty, a potential upswing. She told us, “I
deal with VUCA, there is often an
want you to set aside some money for
complexity, and when you have to refinance in 2013, Stop to label Adjust Start a Don’t go it Get comfortable
just in case. Maybe the building de-
ambiguity. 2020’s VUCA your thoughts your mindset: gratitude alone: with contingencies:
posed challenges
preciates. Maybe downtown doesn’t
grow as much as you think it’s going
“Right now, we and emotions: practice:
to investors, business
to. Let’s keep it fairly conservative.” are in the definition Give yourself Remember when my The most confident Confident leaders It’s OK to say, “I’d love
owners, governments,
When 2013 came around, the building of a VUCA permission to wife and I bought
the downtown
leaders are optimistic. have a team of experts
to advise them,
XYZ to happen,” but
build in a backup plan
had depreciated about 10%, which acknowledge, One way to increase
and families all over meant there was a cash call at the environment.” “Wow, this is really building? Rather than your optimism is by whether that’s an for flexibility so that
refinance. And we were ready with stressful and I’m making the building starting a gratitude executive coach like you’re not let down
the globe. We asked the savings set aside. feeling frustrated.” our only path to an practice. This can be me, an attorney, a when something
Pay attention and be investment gain, we as simple as writing mentor, or a spiritual different happens.
Senior Consultant and Our mindset, and the advisor’s
element of fear involved. But there’s
also some relief in normalizing their aware of what’s going got comfortable down three things that advisor. Advisors are The sooner we get our
guidance, was built for VUCA.
Executive Coach If you’re not familiar with this old
situation. They think, “There’s a name on. Starting there with the idea that
success could come
you’re grateful for once there to help you
talk it out and focus
arms around that, it
allows us to be more
for this,” and they are not alone can help turn the a day. It quickly puts
Jeremy Spidell, MSW, military term, it stands for volatility,
in experiencing it. That can have volume down on some from multiple things into perspective on what matters. agile, content, and
uncertainty, complexity, and outcomes. resilient in these
LCSW of Truist Leader- ambiguity. It’s been used widely in
a calming effect. And it’s not just of the stress and fear.
It can also engage
and helps you rewire
your brain to see VUCA times.
business leaders facing VUCA. It’s
ship Institute to offer business and by leadership authors
our kids, our siblings, our parents, our prefrontal cortex, positive opportunities.
like Brené Brown. Even if you’re new which allows us It can also help give
guidance for navigating to the acronym, you’ve undoubtedly
our friends. It’s healthcare workers,
schoolteachers—everyone during this to shift from a you a sense of power
uncertain times in faced off with its components in
your career and other aspects of your
global pandemic. fight/flight/freeze and control over
response into a more a situation.
and outside of the life. We’re all experiencing disruption Throughout 2020, we’ve all experi- creative, empowered
and loss. Right now, we are in the enced loss. Some people have lost
workplace. definition of a VUCA environment. people close to them; some have lost
approach.
The coronavirus pandemic and the jobs or businesses. There’s also more
recent U.S. presidential election ambiguous loss—of things like going
have added to the VUCA conditions to a graduation, a wedding, going to
we face. a friend’s house for dinner. Losses like
that mount. Luckily, there are some
VUCA is a familiar concept in the work
simple things we can do to cope.
I do at Truist Leadership Institute, fa-
cilitating leadership development and
06 | Truist Perspectives February 2021 | 07
The
essential
elements
of a smart financial plan
Banking. Investing. Risk management. Some elements
of financial management are inevitable in every client’s
journey. And as wealth increases, so does the need for
more complex solutions, such as governance and wealth
administration. (See page 11 for the full table of the
Essential Elements of Wealth.) Having a comprehensive
financial plan is key to making sense of your wealth
ecosystem, pursuing your long-term goals, and planning
a legacy for future generations.
08 | Truist Perspectives February 2021 | 09
What are the Essential
Elements of Wealth?
Comprehensive wealth advice is integrated across
a combination of subject areas we’ve defined as the
Essential Elements of Wealth. These elements do not exist
independently of each other; decisions and actions can
naturally start to become part of the
conversation, because you’ve handled have dramatic consequences for other elements.
the foundation well,” he says.
Sicchitano finds that once clients have
handled the basics, the focus tends to Planning
shift outward. ”You start thinking not
only about your kids but also about
philanthropic interests and how you
can help make a positive impact in
your community.” Banking
Navigating uncertainty
“Financial planning is about focusing
on your personal algorithm—the
Why you need a gone.’ We want to understand a the solutions that we think you Risk
models and frameworks you use for
comprehensive �inancial plan client’s nonfinancial values; we ask uniquely should do. This is why
those foundational questions that we think this is the best route for financial decisions,” Sicchitano says.
“Typically when clients come “The customization piece is consistent Signature
to us, their financial picture is a lead to the emotional, social, and you to take based on your stated
purpose-driven aspects of what goals,’” Beard says. “And instead throughout. We ask, ‘What’s important
little like a collection of bricks to you?’ because that’s the governing
representing solutions to the the client wants to accomplish of handing you a 300-page plan Investments
and ensure a far-reaching and that you may or may not read, we factor.” When clients come in for
problems they faced in the past,” a financial review, they are often
lasting impact.” Understanding are able to boil down the financial
says Joseph Sicchitano, head
your core values and expecta- plan to incremental action steps overwhelmed. “You have access to Reserve
of Advice and Planning at Truist more financial information at your
Wealth. “Maybe they’ve collected tions on both a financial and that you can start to take today to
nonfinancial level results in the get closer to what matters most fingertips than you could ever possi- Estate
a 401(k) from a previous employer, bly need.” A proper financial planning
bought some insurance from a deep strategic analysis needed to to you.”
create a durable, actionable plan. process considers this abundance
family member. Their previous More than just of information and simplifies it so
banking relationship may be from “We are able to say not just, ‘Here �inancial capital you can determine how to address
when they graduated college or are some things we think you concerns and complexity. Fiduciary GenSpring
bought their first house. They have “When we talk with our families
could do,’ but instead, ‘These are and clients with very high net A good advisor sees every family and
this collection of pieces that made
worth, we tend to hear specific every client as unique but also draws
sense at one point, but may not be
types of concerns,” Sicchitano on their experience of having worked
working in harmony now.”
says. “They say, ‘My wife and I with many people in similar circum-
stances who have navigated the same
Philanthropy
Through the planning process, have built this business; we’ve
“a financial advisor takes those
building blocks and makes them
“Typically when learned so much along the way.
How do we impart those lessons—
challenges. “That experience enables
them to offer proven yet personalized
into a cohesive and seamless
whole, looking at all the elements
clients come to that intellectual and experiential financial strategies and tools that
inspire confidence and cut through
wealth—to our heirs so they don’t Learning
to determine how they interplay, us, their financial have to experiment their way to the noise, providing wisdom, direc-
how they lend strength to one success like we have?’” tion, and clarity,” Sicchitano says. “We
another,” Sicchitano says. picture is a little In addition, he says, as a family
seem to be addicted to complexity
as a people, but I’d suggest what we
Concrete, actionable steps like a collection becomes more successful, it can crave is actually simplicity. Governance
sometimes be di�icult to maintain
When Truist advisors talk with
their clients, “the goal is to
of bricks ... ” relational harmony, “so relational “Right now, we are all trying to figure
wealth, social wealth—all of these out what COVID-19 is going to do to
uncover not just data, but also us, and dealing with a lot of uncer-
Joseph Sicchitano, things come into play.”
what is truly important to them, head of Advice and Planning tainty. A good advisor and financial Wealth
what gets them motivated,” at Truist Wealth Sometimes you need to bring plan help focus your attention, not on Administration
says Kristin Beard, consulting in additional solutions, such as the outcomes you can’t control, but
director, Advice and Planning at educating the next generation and on the engine of decision-making,
Truist Wealth. “This is part of the wealth administration, for the chal- enabling you to make good decisions
discovery process, where we may lenges of achieving, growing, and that are compounded over time, much Education
have heard the client say things transferring wealth. “The more you like investments. Then, when the next
like, ‘It’s very important for me to succeed in the basic elements, the challenge arises, you can navigate it
take care of my children after I’m more these new lenses on wealth with confidence.”
10 | Truist Perspectives February 2021 | 11
“Music was all around me.
My mom and her sisters were
singing backgrounds for
Aretha Franklin. My uncle was
Grammy-winning
songwriter
the biggest jingle
and producer
Christopher producer in Chicago,
A life in
“Tricky” Stewart
harmony
stays grounded
in the present doing some of the
while focusing
on the future.
biggest commercial
campaigns for brands like
Coca-Cola, Pepsi, and
McDonald’s. My aunts would
sing on them. Music permeated
all the way through my family in
every place that I could look.”
12 | Truist Perspectives
Rihanna. Britney Spears. Justin artists. With an eye on the past, he’s “Music was all around me. My hadn’t grown an inch,” Stewart knew Stewart relocated to Los Angeles, Getting that part right just allows
Bieber. Beyoncé. These are just a few looking ahead at what’s next. mom and her sisters were singing “it was time to read and react.” where he found success. But after a you to have a better outlook on life;
of the musicians that Christopher backgrounds for Aretha Franklin. few years, he developed relationships it allows you to do your best work.
“Tricky” Stewart has collaborated Music was all around My uncle was the biggest jingle “It was decision-making time for me. with several Atlanta-based music Where you are and where you dwell
with over the course of his 20-plus- Family has always been at the center producer in Chicago, doing some of It felt like a race against time. A lot of moguls and soon felt the pull to is a light that sends you out into the
year career as a songwriter and for Stewart, and at the center of the the biggest commercial campaigns kids didn’t get to become adults in relocate his business to Atlanta, a world every day to accomplish your
producer. If you’ve listened to pop family was music. for brands like Coca-Cola, Pepsi, and Chicago, and sports wasn’t going to place unlike any other in the industry. goals. Those things that make me
music over the last two decades, McDonald’s. My aunts would sing on be the way out.”
you’ve heard his work. “My earliest musical memory takes them. Music permeated all the way Atlanta, a new frontier
place in my mom’s bedroom. I am 2 through my family in every place that He didn’t have to look far to find “This is where I really grew up,”
Happier now than he’s ever been, he’s or 3 years old. I’ve got her eight-track I could look.” another way. His cousins were says Stewart of Atlanta. “It’s where I
taking stock of his success, reveling player. I’m wearing headphones and landing voice acting gigs on Disney became a man.” In many ways, the
in his role as a husband and father, I’m listening to Earth, Wind & Fire; But, Stewart says, “I was looking films. His older brother Laney was a South was a fallow field for music,
and using his experience to help new Bootsy Collins; Gino Vannelli; and somewhere else.” musical prodigy and producer. “He the new frontier in stark contrast to
KISS,” Stewart says. was eight years older than me,” says the expensive lifestyle and saturated
“From the very
He ran from it—literally—because Stewart, “and he had a piano in his market of the West Coast.
Stewart grew up in the he was mad for football. The game room. It wasn’t far away; I just needed
late '70s in Dolton, Illinois, was life for Stewart, and he became to take a little trip down the hall. “Atlanta was an affordable place to
first moment
a suburb just south of an accomplished quarterback as a be,” says Stewart. “I could build a life
Chicago. Both of his parents kid. “I liked being in control of the “From the very first moment I decid- and a career at the same time. It’s
participated in choir compe- game,” he says. “I wanted to be at ed to touch music, I was hooked.” difficult to do that in New York or LA.”
I decided to titions.
“They were both born with
the epicenter.”
But when the other kids came back
Stewart began writing songs with his
cousins, aunts, and friends. “Every
Artistically, Atlanta was doing things
differently, too. Black-owned record
labels were giving more creative
touch music, the gift of music inside
them,” Stewart says.
from summer break 40 pounds
heavier and five inches taller “and I
writer or producer has to write a
song that makes people go, ‘Who is
freedom to their Black artists like TLC
and Outkast.
I was hooked.” “These people not only looked like
me, but they had also achieved Tricky at home in Atlanta with his family.
success,” says Stewart. “I was given
“I love the challenge free rein creatively because I came
after those guys. I had no excuses, really happy are developing right in
of starting with no option but to rise to the occasion. front of my eyes.”
That’s what happens in Atlanta. It’s
nothing and different from anywhere else. You In 2020, Stewart’s record label, RZ3
having to create get a free license to be a creator and Recordings, signed a new label
entrepreneur.” deal with Sony Epic. Stewart is
something—the also creating a 10,000-square-foot
relationships, the It was in Atlanta where Stewart would studio/office space that will be the
new home for his next venture. It
do his greatest work—and some of
conversations that his most rewarding. will include a photography studio,
rehearsal spaces, green screens,
come along with “The most spectacular part of it is and spaces for listening parties. “It
making music when you actually have a magic will be a complete musical film lot in
moment, when you’ve written a song Atlanta," he says.
and being in and you hear the voice going on that
Ultimately, Stewart finds the greatest
entertainment ...” song in real time,” says Stewart. “And
you know exactly what it is before joy and excitement not from looking
anyone ever gets to hear it. You’re back but from finding and developing
taking that ‘Umbrella’ and putting it new talent. “I was there at the
with Rihanna, or putting ‘Baby’ with beginning of many creative careers—
that?!’” says Stewart. When he was Justin Bieber, or ‘Single Ladies’ with Frank Ocean, Ester Dean, Pink, Justin
just 15 years old, Stewart wrote that Beyoncé, and you’re hearing it hap- Bieber. I love the challenge of starting
song—called “Be My Girl,” which pen in real time. That’s what makes with nothing and having to create
made it onto the debut album of the all the long hours and countless days something—the relationships, the
up-and-coming R&B group Immature. that you’re never home worth it.” conversations that come along with
making music and being in entertain-
He was offered his first production Home is your foundation ment are things that still motivate me
fee and a trip to Los Angeles. “I It’s been more than two decades to this day.
would have gone for $300 and some since Stewart wrote his first hit. And
Skittles,” he says jokingly. Perhaps he he says he’s happier now than he’s “Now I want to make content for
could have gotten more money for ever been. As he sits in his home new artists by creating a mechanism
the song, but it was an experience office surrounded by his wife and and platform for streaming, physical
that would set the stage for Stewart’s young daughters, he says, “Ultimate- sales, and touring. That is the next
entire career. ly, your home is your foundation. big challenge for me.”
14 | Truist Perspectives February 2021 | 15
Community
Empowering
“Overnight, we had become a That meant more facilities could
[COVID-19] hot spot, and it was stay open, and, according to Boys &
terrifying,” says Carolyn Higgins, Girls Clubs, more than 113,000 youth
Phoebe Foundation’s president and could be served in places where the
those who make
chief fundraising officer. need is greatest.
The Phoebe Putney Health System Quin Kelly, culinary director of the
a difference,
serves 40 counties across southwest Memphis Boys & Girls Clubs’ Juice
Georgia. When the hospital began Plus+ Technical Training Center,
to run out of supplies, “the very has been making more than 120
first need was PPE—gowns, face breakfasts each morning for the
one community
masks, hand sanitizer, the touchless children of essential workers. “We
thermometers—we were short on saw a report that said one in seven
everything,” Higgins says, noting healthcare workers couldn’t go to
that the health system went through work because of childcare,” says
at a time about six months’ worth of PPE in
just five days. Quin Kelly, culinary director, Memphis
Boys & Girls Clubs’ Juice Plus+
Kelly. “So soon we opened our first
location to offer childcare services,
including meals. We were serving
Healthcare workers stayed safe Technical Training Center (left). 20 kids at one location at first; that
thanks in part to a $500,000 Truist quickly expanded to four locations.”
Cares grant that helped secure PPE Truist Cares is a cooperative
effort between Truist Financial Small businesses create
Corporation; Truist Foundation, better communities
Inc.; and Truist Charitable Fund to “We had been doing in-person class-
provide communities, organizations, es, teaching people how to make
and individuals disaster relief and their own soap from scratch. That all
assistance during the COVID-19 had to stop,” says Kela Nabors, who
crisis.
"Our company leaders—Kelly King
and Bill Rogers—were adamant that
we needed to address the pandemic “Literally I cried ... We’ve
early on, and that’s how Truist Cares never had that kind of
was born," says Bell. backing before.”
Since March, Truist Cares has Kela Nabors, owner,
Kela Nabors, owner, donated more than $50 million to Organically Bath & Beauty
Organically Bath & Beauty A chaplain at Phoebe Putney Memorial grantees. Johns Hopkins University
San Antonio Hospital puts on PPE made possible by and the CDC Foundation—both
a Truist Cares grant. on the front lines of fighting and
tracking the pandemic—were among owns Organically Bath & Beauty in
and spurred a wave of similar dona- the first to receive grants of $1 San Antonio. “Our income went from
tions. “It helped bolster the morale of million each. An additional $7 million maybe $10,000 to $15,000 a month
our team,” Higgins says. “We felt like in grants went to local United Way to almost zero.”
we were no longer alone.” organizations.
Nabors applied for COVID-19 relief
A foundation that cares Providing essential services funding and received a $25,000
Launched in March 2020, the Truist During the pandemic, 3,000 Boys grant from LiftFund, a community
Foundation partners with hard- & Girls Clubs of America stepped development financial institution that
working nonprofit organizations to in to provide food, water, supplies, helps underserved small business
create opportunities for those who tutoring, childcare, training, and owners. That assistance was made
need it most. more to families of first responders possible by a $1 million Truist Cares
and essential workers in their grant, which enabled LiftFund to
“Eighteen days after we launched, communities. provide relief to 80 small businesses
Grants from Truist Cares are helping small businesses, the pandemic hit,” says Lynette Bell, like Nabors’. The grant helped
president of the Truist Foundation. “Truist was among the first orga- Nabors pivot to online sales and hire
nonprofits, and communities survive and thrive during the “But we were able to reach out much nizations to give,” says Jim Clark, additional staff.
more quickly than a lot of other
COVID-19 pandemic and beyond. financial institutions, and within 22
president and CEO of Boys & Girls
Clubs of America. The organization “Literally, I cried when they called
days we had distributed the first $25 distributed a $2 million grant from and said the [$25,000] number,”
million grants under our Truist Cares Truist Cares across hundreds of Nabors says. “We’ve never had that
COVID-19 relief initiative.” clubs in underserved communities. kind of backing before.”
16 | Truist Perspectives February 2021 | 17Time off
Five ways to find
fun and adventure during COVID-19 We can just about see the light at the end of the
pandemic tunnel. Soon, we hope to be back on
airplanes and exploring faraway cities and resorts.
But travel is not quite risk-free just yet. So we
have found five ways to get away safely,
adventurously, and even luxuriously with your
partner, family, or pandemic pod.
A good life is about balance. That’s why
in each issue of Perspectives, we focus
on a different aspect of what it means Book a home Sail the Hit the Try
to live life to the fullest. for the holiday ocean blue open road slow travel Go VIP
Enjoy extraordinary Avoid the crowds and enjoy Although that Paris or Tokyo Many popular destinations Many luxury resorts,
lodgings while bypassing a luxury vacation aboard a vacation may be on require travelers to including Rosewood Little
most of the risks associated fully stocked, profession- hold, now is a good time quarantine for 10 – 14 days Dix Bay resort in the Virgin
with travel and tourism ally crewed private yacht. to visit some of America’s upon arrival to mitigate Islands and Las Ventanas
by renting a historic or Private charters offer many greatest treasures, such as the spread of COVID-19. al Paraiso in Cabo San
architecturally significant advantages, such as: Yellowstone National Park Why not embrace the wait? Lucas, have teamed up with
home through a vacation • Self-sufficient or the giant sequoia trees. Slow travel, as the trend private jet rental companies
rental service. accommodations. Travel the country on your is known, means taking to offer safe travel packages
You can book a stay at • Controlled environment own terms by renting a time to truly connect to to consumers.
Harry Houdini’s estate in and COVID-screened staff. luxury RV and taking the the culture of a particular Fly in via private jet
Los Angeles, complete with • Customized itineraries road trip of your dreams. destination. and be whisked away to
gardens, a heated pool, and that let you do what you RVs allow you to If you have the time your destination in a private
beautiful views of nearby want, where and when travel safely by taking your and/or can work remotely, car. Many resorts also offer
canyons. See yourself in you want to do it (travel lodging and meals with you consider planning a long, safe luxury services, such
a modernist masterpiece restrictions permitting). while exploring the great leisurely stay at a favorite as private dining and
at Casa L4 on Sardinia’s Yachting companies outdoors. You can even destination, such as a personal butlers, who
Costa Smeralda. Or toast around the world offer hire a private driver, so you Landmark Trust property can plan everything from
with friends at Twin Palms, everything from a chartered never have to worry about in the United Kingdom or a perfect picnics to deluxe
Frank Sinatra’s swinging sailboat to a mega-yacht. traffic or finding the perfect beachfront villa in Maui. spa days.
midcentury modern former Talk to your travel agent camping spot. Be sure to comply with all
estate in Palm Springs. about which vessel best fits Several high-end RV local safety regulations,
your particular needs. rental companies specialize including quarantines and
in luxury accommodations testing requirements.
on wheels.
Before you go...
The best way to Check travel guidelines for your destination. This includes restrictions on who can travel and what
travel safely you can do when you arrive. • Ask about cancellation policies. What if you have to cancel bookings
is to plan due to illness or increased restrictions? Is there a fee to reschedule? • Plan for emergencies. If you
ahead. Before become ill while traveling, can you access quality medical care and extend your stay until you are well?
you book your Will your insurance cover the costs? Some destinations now require additional COVID-19 insurance
next vacation, policies. • Be flexible. Nothing is certain these days, and the perfect trip may fall through at the
be sure to: last minute. Have a plan B or even a plan C, and be willing to adjust your expectations.
18 | Truist PerspectivesInspire
We can feel optimistic
about the future because
we are inventive, creative,
and resilient. We can
acknowledge the world
is a dangerous place,
and yet know we
will overcome.
Amir Mossanen,
Truist senior wealth advisor Find the latest market research and
Los Angeles market president financial insights at truist.com/wealth
Disclosures: Truist Bank, Member FDIC. © 2021 Truist Financial Corporation. Truist, the Truist logo, and products are offered through Truist Life Insurance Services, a division of Crump Life Insurance Services,
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Search the NMLS Registry. tax or legal advice. You should consult your individual tax or legal professional before taking any action that
may have tax or legal consequences.
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accounts, are provided by SunTrust Bank and Branch Banking and Trust Company, both now Truist Bank, Corporation and its subsidiaries, including Truist Securities, Inc., member FINRA and SIPC.
Member FDIC. Trust and investment management services are provided by SunTrust Bank and Branch
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brokerage accounts and /or insurance (including annuities) are offered by Truist Investment Services, Inc. office regarding collection activity, if you speak a language other than English and need verbal translation
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01 | Truist
20 Perspectives
Perspectives broker-dealers, members FINRA, SIPC, and a licensed insurance agency where applicable. Life insurance collection terms is available in multiple languages at www.nyc.gov/dca.You can also read
