At Bank of America Private Bank, we take pride in our history and in serving our clients’ best interests. We also value the continual pursuit of innovation in a constantly transforming world. We apply this perspective to help our clients anticipate and respond to evolving markets, changing environments and the growing complexities of the financial landscape. Mindful of the past, our focus is on providing today’s clients with disciplined financial strategies and a bridge across generations.
Robert Penny is an Assistant Vice President and Portfolio Manager at Bank of America Private Bank in Mount Pleasant, South Carolina. In this role, he is responsible for creating and maintaining personalized investment strategies utilizing a broad range of wealth management services, including financial planning and wealth strategy. This includes assisting clients with establishing their goals and objectives, and working towards developing an appropriate overall strategy. Through his periodic reviews with clients, Robert works with clients to monitor the appropriateness of the strategies he has implemented and evaluates their progress toward reaching the initial goals and strategies set forth.
In addition, he supports clients in navigating through changing market environments to provide traditional advice and guidance in the areas of asset allocation, tax-minimization, retirement, and multi-generational planning – from risk-based strategies to banking and lending needs. Investment choices include individual stocks and bonds, exchange traded funds, mutual funds, and alternative investments which include hedge funds, private equity and structured solutions. Robert works closely with clients’ external advisors, such as attorneys and accountants as well as the broader private bank team to access a wide range of resources, capabilities and specialists.
Prior to joining Bank of America Private Bank (formerly U.S. Trust) in 2017, Robert held previous portfolio management positions with Wells Fargo Private Bank and The Vanguard Group. He earned his Bachelor of Arts in political science from Furman University.
Active in his community, he has volunteered with Furman Young Alumni, Junior Achievement, and has been a foster parent and youth lacrosse coach. In his spare time he enjoys playing golf, watching college basketball, and spending time with his family. He currently resides in Charleston, South Carolina with his wife, Lee, and two young girls.
Some or all alternative investments may not be in the best interests for certain investors. Certain alternative investments carry significant risk and are not subject to the same regulatory oversight as mutual funds and other traditional investments. For these reasons, access to alternative investments may be limited to investors who are designated as sophisticated, high-net-worth investors.
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For more than 200 years, Bank of America Private Bank has helped clients navigate the complex challenges of managing significant wealth. We draw on the Private Bank’s personalized approach, as well as the resources of Bank of America, to help individuals and families, businesses, and institutions achieve their financial objectives. Whether you’re looking to preserve and share wealth, build philanthropic legacies or plan for future growth, our commitment is to make your goals our priority.