It’s always the goal to make your money work as hard for you as you’ve worked to earn it, but developing strategies and tools to do that can be both daunting and time-consuming. Most of us consult experts at work or when facing important life decisions, but what about our finances? Do you have someone you can turn to for advice and expertise when it comes to accomplishing your money goals?
Unfortunately, finding the right financial advisor can be a challenge, in part because there are so many to choose from. How do you know you’re working with someone who puts you first and doesn’t have conflicts of interest? That’s the million-dollar question we are here to answer.
One simple way to narrow the field is to limit your search to advisors with a fiduciary duty to their clients. Financial advisors and planners categorized as fiduciaries are legally bound to put the best interests of their clients above all else. In the world of wealth management, this is an important distinction.
Many experts recommend narrowing the field even further by seeking out a fee-only fiduciary. This refers to how your financial advisor earns their income. While some advisors and planners earn commissions on transactions for products that they sell, a fee-only fiduciary is compensated through an established fee specific to the services they provide. A fiduciary advisor can’t, for example, suggest you buy a security that will provide a kickback for them but not benefit you. They aren’t out to make a commission or sale. Their number-one priority is giving you advice that helps you reach your financial goals.
Why Should I Work With a Fee-Only Fiduciary?
There are several benefits to working with an advisor who serves in a fiduciary capacity. By working with an advisor who is bound to the fiduciary standard, you can feel empowered that the investment advice you receive for yourself and your finances is tailored to you. Clients have the power to ask questions and demand the highest value for the service that advisors are providing.
Personalized, Unbiased Advice
As independent advisors, the guidance we offer our clients is objective and unbiased because we are not tied to any particular financial company or investment firm. This means we can analyze your complete financial picture, gain an understanding of your life circumstances, dreams, and concerns, and recommend financial strategies that fit you. We don’t stay within one investment firm or recommend products to meet quotas. As such, you can count on us as fiduciary advisors to develop financial plans that are tailor-made to fit your needs.
If you’ve ever been sold on an investment or banking product by an overzealous company rep, you know well how feelings of doubt can cloud the interaction. Even when their company’s latest financial products seem like good deals, you’re almost always left wondering if those products and money moves are right for accomplishing your unique set of financial goals. Avoiding these kinds of scenarios altogether can save both money and countless hours of worry.
The relationship you form with your financial advisor must be built on transparency, excellence, and trust. Anything short of that is a non-starter. At Envision Wealth Planners, we know our clients personally and have developed close relationships with many of them. Because of this, we only offer advice that is aligned with our clients’ goals and make a point to keep up with any change in our clients’ situations that could affect their financial plan. Rather than being static, our financial plans grow with you. They are built to fit your life, not the other way around.
It’s All About You
Working with a fiduciary gives you access to expert strategies and tools for maximizing the potential of your financial investments as well as a partner to help you navigate every step of the way. The decision to work with a fee-only fiduciary may just be the first of many you can make with confidence. It’s certainly one your future self will thank you for.
If you’re unsure about your current financial strategies, haven’t reevaluated your investments in several years, or are just interested in learning more about what it means to work with a fiduciary, we’re happy to offer you a complimentary consultation. Schedule a no-obligation introductory phone call or reach out to me at firstname.lastname@example.org or 407.720.6535.
Sean Gerlin is founder, principal, and a financial planner at Envision Wealth Planners, an independent financial advisory firm founded on the core values of family, honesty, and a determination to be a master of the trade. With almost 10 years of experience, Sean specializes in serving affluent families and commercial real estate executives and brokers, providing comprehensive, customized financial guidance and services for their complex financial needs. Sean acts as a family CFO, managing and coordinating the many moving pieces of his clients’ financial lives. Sean is known for his commitment to building long-term relationships and paying personal attention to each client. He is passionate about helping his clients experience the relief that comes from having organized and well-planned strategies and portfolios, and he desires to help them by shouldering some of the financial burdens they face.
Sean has a bachelor’s degree from the University of Florida and holds the CERTIFIED FINANCIAL PLANNER™, Chartered Financial Consultant®, and Chartered Life Underwriter® designations. When he’s not working, you can find him cooking, eating good food, traveling, coaching his son’s baseball team, or playing golf. He loves spending time with his wife, Nicole, and their two kids, Avery and Will, and entertaining friends in their beautiful backyard. To learn more about Sean, connect with him on LinkedIn.
If you’d like to explore how Sean Gerlin’s trusted fee-only fiduciary services make up the gold standard in unfettered financial advice, schedule a no-obligation introductory phone call using the information below.