We’re looking to the future with next-generation family leadership at First National Wealth Management.

Maggie Groteluschen has assumed the role of Interim Wealth Management Leader, building on a 14-year career at the Bank that includes managing our Wealth Advisory, Personal Trust, Retirement Plans, and Institutional Wealth teams.

She is the fifth generation of the Baker family to help lead our family-owned organization. Her father, Bill Baker, retired as CEO in 2019 after nearly two decades in the role.

Maggie has worked at First National Wealth Management since graduating with her law degree and MBA from Creighton University in 2012. She also is a shareholder in the Bank.

“Maggie brings strategy, expertise, and continuity to this exceptional wealth management team,” said President & CEO Chris Ekstrum. “Her leadership will be a great asset as we transition into a new chapter.”

Additionally, fourth-generation Baker and shareholder Sarah Hogg, CPA, serves as a Senior Family Office Advisor for First National Wealth Management.

Sarah joined the Bank in 2023 after nearly 30 years of working as a CPA in both public and private practice.

“I’m in awe of the wealth management team I joined,” Hogg said. “The level of expertise, advice, and planning we are offering clients is unmatched in Sioux Falls.”

Our nearly 40-person Wealth Management department oversees more than $10 billion in assets under management and serves thousands of clients in South Dakota and across the country.

These credentialed professionals bring diverse backgrounds and experience in accounting, finance, legal, business succession, and estate planning.

Many hold Certified Financial Planner®, Chartered Financial Analyst®, Certified Trust and Fiduciary Advisor, and Certified Public Accountant designations, as well as MBA and JD degrees.

Longtime portfolio manager Matt Adamson also recently stepped into a new role as Investments Manager. Matt joined First National Wealth Management in 2012 and holds an MBA and a CFA.

“Matt has displayed strong leadership within our Investments team, so I have no doubt that he will transition into this role naturally,” Maggie said. “We value his expertise and the genuine love he has for serving our clients.”

Matt’s experience includes responsibility for a large portion of managed client assets, including retirement accounts, charitable trusts, personal trusts, and donations and endowments.

“The best part of my job is seeing the gratitude our clients have for the services we provide,” he said. “I’m excited to continue to grow this talented team.”

Above all, “our team loves nothing more than getting to a client’s inner circle,” Maggie added. “When a client calls to tell us of a job change, a home purchase, a health diagnosis, or a new grandchild on the way, that connection is the meaningful and fulfilling work for us.”

For Maggie, an added passion is to grow, perpetuate, and evolve the Baker family legacy.

“First National Bank has always been near to my heart, and now I’m energized by the opportunity to execute my vision for Wealth Management in a bigger way,” she said.

Sarah serves clients of FNB Reserve, a division of First National Wealth Management designed to meet the unique needs of ultra-high-net-worth families.

“We have found a niche in our ability to surround our clients during business succession planning and sale — unifying their advisors to one strategy, providing valuable tax insights, and simplifying the process for them,” Sarah said.

First National Bank has offered trust and wealth management services for more than 100 years, obtaining Trust Powers from our primary regulator, the Office of the Comptroller of the Currency, in 1917.

“One of the underpinnings of our work is that as a 140-year-old bank, we have the benefit of perspective on a generational level,” Maggie said. “We take the long view, growing and thriving with our clients.”

At First National Wealth Management, there is no one-size-fits-all approach.

Our investment philosophy is centered around getting to know you and your ambitions, using evidence-based methodology to customize your portfolio. A proven five-step process leads to a custom-created and carefully managed investment plan with a long-term outlook.

“These are uncertain times for investors, driven by volatility and unpredictability,” Chris said. “But when you’re part of an organization with a foundation that spans more than a century, you know how to guide with the big picture in mind. I’m incredibly proud of the team we have serving investors, and we plan to grow it.”

The Bank’s family-focused culture blended with top-tier investment expertise is a strong combination, he added.

“We’re truly a family business serving other families, which is why generations have trusted our team to guide them toward their investment goals,” Chris said. “I invite you to get to know these impressive professionals and enjoy the benefit of their expertise.”

To connect with our team, reach out to Maggie or send us a note. You can also learn more about First National Wealth Management by watching this video: