A Personalized Approach.
Hopefully, your search will result in finding a firm that places a pronounced emphasis on YOU. Look for personal, client-focused service with professional resources from a local, accessible, experienced team. You will want to have robust integration of financial planning and investment managers and advisors who can – and do – coordinate with other advisors as needed (e.g., attorneys, CPAs).
A Proven Process.
A company that readily communicates a thoughtful, well-orchestrated, personalized plan is a firm that has developed a process over time that works. The CFP® Board requires its certificants to apply Financial Planning Practice Standards which include a standard 7-step process:
A Concise, Well-stated Investment Philosophy.
It is essential to understand a firm’s investment philosophy. A philosophy statement should be readily available and adequately spell out how the company will manage your investment portfolio. A meaningful philosophy statement might include the following goals and objectives:
An independent firm allows them to think differently and maintain their own path in terms of a financial planning and investment philosophy as well as a standard for client service. Being independent allows them to preserve certain beliefs without being pressured to change in the name of short-term results. They can look out over a longer timeframe and stay true to a financial planning process that they believe will benefit their clients over time.
It is always comforting to know in advance how you can expect to be treated by a firm you might hire. And wealth management firms should be no exception. Proceed with confidence to the next step if the firm you are researching lets you know the following types of details upfront:
Let the Search Begin.
Armed with the tips discussed in this article, you now know to conduct a consequential search, which should result in a thoughtful, fact-based decision on which wealth management firm to choose. Remember, it’s your wealth; conduct as much research and ask as many questions as you need to find the right firm for you.
To learn more about how Modera can support you, please contact us.
Joe Casper is the Senior Business Development Manager for Modera Wealth Management. Modera provides thoughtful financial counsel to discerning individuals and organizations.
Modera Wealth Management, LLC (“Modera”) is an SEC-registered investment advisor with places of business in Massachusetts, New Jersey, Pennsylvania, North Carolina, Georgia and Florida. Modera may only transact business in those states in which it is registered or qualifies for an exemption or exclusion from registration requirements. SEC registration does not imply any level of skill or training. For information pertaining to our registration status, fees and services, please contact us or refer to the Investment Adviser Public Disclosure web site (www.adviserinfo.sec.gov) to obtain a copy of our disclosure statement set forth in Form ADV Part 2A. Please read the disclosure statement carefully before you invest or send money.
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