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Our History

As a family-owned financial management firm, our history is important to us. It defines where we’ve been in the past, where we are in the present, and where we aspire to be in the future.

Stanley Platt, Doug’s father and Peter’s grandfather, began his investment career in the late 1930s serving in the trust department at Northwestern National Bank, Minneapolis - known today as Wells Fargo. During his time there, Stanley initiated the formation of co-mingled trust investment accounts, a product that has since become standard in the banking industry. Approximately ten years later, he transferred to Duluth where he became head of the bank’s trust department. After being encouraged to establish his own business to manage individual portfolios, Stanley moved back to Minneapolis and began working out of his home office.

In the mid-1960s, he formed his investment advisory business, Platt, Tschudy which eventually became Investment Advisors, Inc. (IAI). Stanley’s son and grandson would eventually follow in his footsteps, with Doug coming on board in 1967 and Peter in 1992. Despite his formal retirement in 1975, Stanley continued to manage accounts from home well into his nineties.

In 1997, Peter and Doug accepted Suzanne Zak’s invitation to join her new advisory firm. After her untimely death in 2001, Doug established his own firm - Douglas Platt Investment Counsel out of his home in Edina, Minnesota. Peter joined his father in 2013 and the name was shortened to, Platt Investment Counsel.

The Platt family has managed assets spanning three generations for many families. This longevity and continuity has resulted in many multi-generational relationships with clients spanning many decades. Today, 15 percent of current clients have ties dating back to the 1950s, while 20 percent have ties going back to the 1960s and 1970s. 35 percent of all current clients of Platt Investment Counsel are part of multi-generational family groupings.

Whether your family has been with us for decades or days, we strive to deliver the same level of exceptional service, support and guidance on your financial journey.