Jamie Hopkins is Executive Vice President and Chief Wealth Officer at WSFS Bank, leading the firm’s Wealth Management segment since August 2024 and serving as CEO of Bryn Mawr Trust Advisors. In this role, he drives strategic growth initiatives, aligns financial advice and trust services, and oversees the coordination of private wealth and institutional trust operations to deliver client value. He initially joined WSFS in 2023 as Director of Private Wealth Management for Bryn Mawr Trust.

Poor liquidity and succession planning can put business continuity at risk. Our goal is to help all local businesses thrive by providing them with the funding, support, and planning they need to grow and operate to the best of their ability.

Prior to joining WSFS, Jamie served as Managing Partner at Carson Group, where he expanded the firm’s wealth management platform and influenced retirement-planning thought leadership. He is also the founder and president of the FinServ Foundation, a nonprofit dedicated to mentoring future financial professionals, and serves on advisory boards including Wealth.com and C2P. His academic credentials include an LL.M. from Temple University, a J.D. from Villanova University, a master’s degree in financial planning from The American College of Financial Services, and an MBA from Villanova University.

What educational gaps can financial institutions close for consumers and business owners on estate planning?

One of the biggest gaps we see is simply awareness; too many people don’t realize how much estate planning touches everyday life. Estate planning is not just for the wealthy. Strategic activities like titling of accounts, beneficiary designations, powers of attorney, and health care directives are often overlooked but critically important. For business owners, many overlook the importance of succession planning, tax strategy, digital assets, and liquidity planning, and how those strategies fit into the estate conversation.

At Bryn Mawr Trust, we focus on education first, helping clients understand not just what tools are available, but why they matter and how they can protect both families and businesses. Think about when your kids go to college – do you have a health care power of attorney in place for them in case something happens? If you buy a new property for your business, is it correctly titled and held inside the business? These common life events can create big headaches when not dealt with up front.

What are your top pieces of advice on ways for people looking to consolidate their financial picture?

The first step is to consolidate and get everything in one view. Too many people have accounts scattered across different banks, brokerages, and retirement providers, and it’s hard to make confident decisions without a clear picture. A lot of people think this creates some type of diversification, but, really, it creates risk and lacks coordination.

Second, simplify where you can. That doesn’t mean closing every account, but it does mean reducing redundancy and overlap, so your financial life is easier to manage. Consider getting rid of some recurring bills or subscriptions to reduce ongoing expenses. Third, build in regular check-ins with your financial advisor. A plan that works today may need adjustments tomorrow as your life, goals, and tax laws change. Staying proactive keeps you from falling behind.

Finally, coordinate: make sure your investments, estate plan, tax plan, and insurance all line up with your goals. Bryn Mawr Trust’s integrated strategy brings all these moving parts together, helping our clients make better decisions, avoid gaps, and feel more confident about their future.

Are there ways for business owners and executives to get ahead of succession planning early?

Absolutely, and starting early is the best thing a business owner can do. But you need to know what you want before you can put a plan in place. Plans are not done in silos or a vacuum. It is all about your goals, wishes, and desires. Too often, succession planning only starts when someone is looking to retire or sell, and by then, options are more limited. In these cases, we become reactionary and not proactive. By being proactive we can tie our values to our planning strategy and maximize the value of our business.

Early planning allows you to identify and develop future leaders for your business, explore tax-efficient transfer strategies, and build in flexibility. At Bryn Mawr Trust, many of our clients have been business owners at some point, so this is part of our DNA. We encourage owners to think of succession as a long-term process, not a single event. That approach protects both the business and the family.

Why do you think trusts are still overlooked as part of estate planning, and what risks does that create for families and business owners?

First, we are a death-denying society. We don’t like discussing death and loss, instead we focus on vacations, spending, and today. Generally speaking, trusts are most valuable as an estate planning vehicle; although, there are other benefits. Many people assume they’re only for the very wealthy, but in reality, trusts can provide everyday families and business owners with real protection. Without one, you often end up with assets going through probate, which can be a lengthy, costly, and public process. For business owners, that lack of structure can create complications in a transition.

Proper use of trusts for business owners can help reduce taxes, make succession planning more secure, and provide generational wealth transfers work in line with the person’s long-term wishes. Trusts are about more than just wealth transfer; they’re about control, protection, and efficiency. It’s an area where we try to spend extra time educating clients. Anyone looking to protect their wealth, provide a legacy, and stay in control should at least take a look at a trust as part of their estate plan.

What makes Bryn Mawr Trust’s approach unique, and why does that matter to your clients?

Our difference lies in how we operate and our streamlined approach to client service. Many people have to cobble together a financial advisor, an attorney, a tax professional, and a banker. These professionals aren’t always talking to each other. At Bryn Mawr Trust, our model is to bring those services under one coordinated framework. That way, the client isn’t left managing the silos; we do it for them.

This approach helps clients make better decisions, avoid gaps, and feel more confident about their future. People are looking for this one-stop shop and a coordinated all-wealth solution. We can coordinate investments, taxes, financial planning, business planning, and estate planning all in one location.

Additionally, we have a national trust charter and a Delaware state charter, allowing to be best in class for trust services. We also continue to serve our communities in unique trust situations like special needs trusts and legacy trusts. Lastly, we bring a long-term and stable business offering, with WSFS and Bryn Mawr Trust both being over 120-year-old companies.

How do these issues — estate planning, trusts, and succession — intersect specifically for business owners in your region?

Business owners in the Greater Delaware Valley face the same national challenges, but with a local twist. Many tax codes and credits are unique to the region such as Delaware’s research and development refundable credit structure or Philadelphia’s Business Income & Receipts Tax. The businesses navigating these are often family-owned and have been around for decades, so preserving that legacy is important.

At the same time, they need solutions that address modern realities like liquidity needs, taxes, and changing workforce dynamics. That’s where a trust, a well-thought-out succession plan, and a coordinated approach all come together. We’re proud to sit in that intersection, helping our region’s business owners protect what they’ve built while planning for what comes next.

Additionally, business owners sometimes need lending and liquidity to help transfer or grow their businesses. With our total wealth view, we can bring these banking, wealth, and estate planning solutions to our local businesses in a coordinated manner that few other places can deliver on. We want to make sure our local business partners thrive in the region and grow. Poor liquidity and succession planning can put business continuity at risk. Our goal is to help all local businesses thrive by providing them with the funding, support, and planning they need to grow and operate to the best of their ability.

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