Barron's Advisor Tony Carpentieri: The Keys to a Successful Practice | Next Gen
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Dec 4, 2025 Tony Carpentieri, a private wealth advisor at Merrill Lynch, discusses the journey into wealth management inspired by family influences. He emphasizes the need for a clear value proposition and a strong culture within teams. Carpentieri highlights the demands of today's clients for immediacy and intelligence, while predicting that AI will serve as a supportive tool for advisors. He also focuses on developing younger advisors through mentorship and underscores the importance of passion in enhancing productivity.
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Early Personal Spark
- Tony Carpentieri traced his interest in wealth management to seeing investment statements on his family's countertop and asking his mother about them.
- Early exposure to an advisor helping fund his college sparked his desire to help people with money.
Career Path Through Roles
- Tony described starting in philanthropy where he learned cold calling and then moving into Merrill Lynch Trust for estate planning.
- He later managed private banking, credit, and balance sheet services after Bank of America's acquisition.
Four Pillars Of Client Value
- Tony frames advisor value around four client needs: private banking, financial and estate planning, investments, and philanthropy.
- He emphasizes being a trusted friend for money conversations rather than a social acquaintance.