The big wirehouses have access to behemoths of technology that supports wealth advisors; however, they can lose the personal touch and the collaboration that a wealth advisory might offer. These technology systems require intense customization and onboarding, which can be difficult to handle on your own.
When client goals are addressed and discussed thoroughly from the beginning, then the process of managing their wealth becomes a collaboration. So, what does our typical client look like, and how do we separate ourselves from other wealth advisories?
There are studies that show that overall, clients want more communication. Over time, there has been a shift in expectations for the relationship between wealth advisor and client— the expectation is hearing from your advisor four times a year.
Have you ever asked your financial planner, "What's your company culture like?" If you’re new to financial planning, it can be difficult to know what questions to start with—even if you’re not new to planning, this is true. Here are five questions to ask your financial planner at your next meeting.
While the terms "wealth manager" and "financial advisor" may be grouped together or used interchangeably, the two professions actually have quite a few significant differences. Individuals looking for assistance in their financial planning should be familiar with these differences to find the best professional help for them and their financial situation.
Professionals have compared structured notes to the innovative mindset behind mutual funds—with the main draw being zero interest rates. In the past, structured notes were a high-risk, high-return investment that only very wealthy investors could get involved in. Recently, however, the transition to using more technology for investing has opened the door for more individuals and families to invest using structured notes.