Happy New Year once again! I hope the time off over the holidays has rejuvenated and prepared you for a great 2019. It certainly has for me and my profession. In March 2000 I passed the exam necessary to join my mom in the financial services industry performing securities sales. As my career path matured over the last nineteen years, so too has the financial industry. With the understanding of the future direction of the financial services industry, I made the decision to relinquish my securities sales license, the series 7, and my affiliation with Triad Advisors, LLC my broker dealer.
I would like to thank Triad for supporting me over the almost twelve years of our partnership. Without their hybrid model, I would not have been able to mold my own business model into what it is today, an independent Registered Investment Advisor.
The Benefits of Working with a Fee-Based Fiduciary
No pressure to buy or sell investments. Investment brokers are sometimes guilty of “churning” pressuring clients into buying or selling so that they can earn a commission linked to a transaction. Fee-based management mitigates that threat.
No conflict of interest. Full-commission brokers are sometimes encouraged to “push” certain investments. That may be good for the brokerage and its employees, but it may not be good for you. Under fee-based portfolio management, the emphasis is not on product sales, it is on investment performance.
The investor and the advisor share the same goals. Through fee-based portfolio management, I am paid from the assets I manage. It benefits you to increase your net worth and achieve your investment objectives, and it also benefits me as part of my compensation relates to the performance of your portfolio.
The investor and the advisor stay in touch. At a brokerage, financial consulting may be offered to a client once, and then never again. Fee-based portfolio management promotes continual communication between the advisor and client – a real relationship.
Wealth management becomes the true priority. Fee-based management promotes a clear, holistic approach that addresses many financial issues and needs.