Common Questions:
How is Advance Wealth Management Service different than many other financial practices?
Most financial advisors working for large firms are selling a wide variety of high commission and complex products using fear and uncertainty to sell those products and many times locking your money up for many years. We use a conversational approach to understand what you are looking for whether that is our Money Management (link) service or our complete Wealth Management service (link).
Most financial advisors have hundreds and sometimes thousands of clients. We feel that although a volume-based approach can generate an advisor a nice commission, you cannot truly help that many people. Our firm focusses on a small number of clients per advisor and is not the right fit for everyone, but when you hire us you can count on your advisor being there to help you and your family into the future.
What is your minimum account size?
Our clients typically are saving for a retirement driven net worth of around a million to ten million dollars that will enable them to live purpose driven lives. Some of our clients have pensions that can reduce the amount needed for their retirement driven net worth.
What is your compensation model?
Our firm is a fee-only Registered Investment Advisor, so our income comes from fee based financial planning and/or as a percentage of your assets in our Money Management service.
If a situation were to arise where a commissionable product is needed, we would hope to work with one of your existing insurance agents or we work with a agency that works business to business with firms like ours.
Where will my accounts be held?
Our current custodian is TD Ameritrade Institutional (soon to be part of Charles Schwab), one of the largest and RIA centric custodians serving independent advisory firms. It is most common for firms like ours to use the custody service of a very large custodian to take care of statements, cost basis, and advanced trading platforms.
What is your investment approach?
When it comes to managing your current and future investment assets, we have developed a proprietary process for security/investment selection that focuses on several quality metrics as well as maintaining strong dividend/interest streams to continue to buy shares when you are still saving and support your cash flow needs when a paid profession becomes optional.