Bluestone Planning Group
Courtesy of Morgan Stanley Private Wealth Management
Team Name: Bluestone Planning Group
Firm: Morgan Stanley Private Wealth Management
Senior Members: Sue van der Linden, Syrinda E. Paige, Annmarie M. Bilger
Location: Washington, D.C.
Team Custodied Assets: $373 million
Background: Sue van der Linden grew up moving from college town to college town as her father, who worked for the Veterans Administration, helped revamp or build new hospitals tied to medical schools. She attended nine schools before high school, an experience she says taught her adaptability and how to connect quickly with new people. “You learn how to pack light and you learn how to talk to people you haven’t met before,” she says. Van der Linden attended the University of Virginia, where she studied chemistry and initially planned to become a doctor before realizing she couldn’t stand the sight of blood. She later earned an MBA and, after a conversation with a retired broker-dealer executive, began considering the industry. “That launched about a nine-month-long odyssey of researching all the different broker dealers that were in my community,” she recalls. She joined Dean Witter in 1994, which was consumed by Morgan Stanley in 1997, and has remained at the firm since. Bluestone Planning Group’s current three-advisor structure came together beginning in 2018.
Client Relationships: Bluestone works with a wide range of clients, though van der Linden says certain groups naturally gravitate toward the practice. “You’ve got a practice of three women, so obviously we tend to attract female clients,” she says. The team also works with clients who value an inclusive, nonjudgmental approach to financial advice. Education is central to the firm’s client relationships: Bluestone hosts a monthly “Bluestone Briefing,” a 30-minute session designed to deliver practical financial education in a concise format. The team also leads education initiatives outside the office, including financial literacy programs for children and families in underserved rural communities.
Competitive Edge: Van der Linden says Bluestone’s edge starts with how the team listens. “Being an all-female team, we hear things differently,” she says. “We can sometimes pick up on the subtext that somebody else might not.” That sensitivity matters, she adds, because money still carries stigma. Clients may be reluctant to ask questions or admit what they don’t know. Recognizing those unspoken concerns allows the team to give clients “a graceful, non-confrontational kind of out” to get their questions answered. Another differentiator is how the team frames wealth. “Money is often an expression of love,” van der Linden says. Bluestone works closely with multigenerational families to help preserve and pass down values—such as education or entrepreneurship—across generations.
Investment Philosophy: Bluestone’s investment approach is customized, but van der Linden often explains it using a culinary analogy. “We picture portfolio construction sort of like being the chef and building the proverbial bowl of chili,” she says. “If you don’t have tomatoes and beans, you can’t have chili.” Portfolios begin with bonds and cash to support near-term spending needs. Assets clients don’t need to touch for at least five years can then be allocated toward growth, with a slight bias toward dividend-paying equities: “Cash flow is a source of security for people.” On the equity side, the team typically favors ETFs for tax efficiency and diversification. Bluestone uses a “telescoping strategy,” starting with a core set of exposures and adding layers as portfolios grow. At higher asset levels, that can include thematic strategies or liquid alternatives such as managed futures ETFs. In alternatives, the team focuses on private markets—private equity, private credit, infrastructure and real estate—while generally avoiding hedge funds. Fixed income is typically kept to maturities of five years or less, reflecting the team’s view that bonds and cash should fund spending during market downturns.
Market Outlook: Van der Linden avoids forecasting. “I tell clients all the time, my crystal ball has been in the repair shop for the last 32 years,” she says. “If we focus on planning and risk management for clients, then the market’s going to do what the market’s going to do,” she says. Maintaining sufficient reserves in bonds and cash, she adds, helps clients weather drawdowns without being forced to sell equities.
Best Advice: Van der Linden often tells clients that wealth management is “the reverse of The Godfather.” “It’s always personal,” she says. Her advice to clients is to view planning as a journey rather than a straight line. “You don’t have to have every single thing figured out,” she says. “Find somebody that you can be thoughtful and honest with.”