Many of the most common mistakes retirees make with their planning is caused by simply not knowing what they didn’t know to ask or question. If you don’t know enough about something, how can you know what to ask?
We know it is difficult to know who to trust with your investment that you have spent a lifetime to earn and save.
Over the years we have found that some of the most common questions in the discovery process of finding the right wealth advisor for you are as follows:
SimplePath Wealth Management, LLC is an independent, fee-only, Registered Investment Advisor in the State of Florida. We answer directly to our clients, not to corporate management. We partner with AssetMark to provide asset management, manager due diligence & investment technology to our clients. AssetMark provides access to over 35 high quality, well-vetted investment strategists.
The performance of our over 35 available strategists is available upon request at any time and we can also provide simulations against your current strategy. We do not believe in managing your money in-house. Although we could likely have a higher profit margin if we did, we do not believe it is in your best interest. We cannot be meeting and servicing clients and watching the markets and the economy at the same time and be effective at both. We have found that doing so is not an effective use of our time. We believe that it would be nearly impossible to have the access and resources that institutional investment firms have on a day-to-day basis. They also have teams of CFA’s on staff (not simply one) that collaborate on their decisions. Relying on one person or team for your life’s savings is, in our opinion, like putting all your faith in one spaghetti model during hurricane season.
SimplePath Wealth Management, LLC (SWM) collects a negotiated annual advisory fee based on the assets that are being managed. This provides us an incentive to grow your accounts along with you rather than having a commission-based model that could create a conflict of interest. This is called a fee-only model. SWM can also be compensated through a financial planning fee either in addition to or in place of the above, as a one-time or ongoing fee. If our affiliate firm, SimplePath Insurance & Tax Planning, LLC provides any insurance services such as Medicare, life insurance, or annuities, they would be compensated directly by the insurance carrier and the costs would be built into the product rather than coming out of your account value. This could represent a conflict of interest that must be disclosed at the time of the recommendation.
Because of the level of service we provide our clients and the cost to bring on a new client, we traditionally prefer to bring on clients with no less than $250,000 in investable assets. In addition, each money manager also has account minimums for their various portfolios that could range from $1K to $1M, depending on the strategy.
Our relationship is based on much more than investments or returns. It is our goal to be your financial advocate to help guide you through the many complex financial decisions throughout your lifetime. One of the main differences we provide is the level of diligence and holistic planning that we do for our clients. We are looking to bring on a select group of families and work with them for multiple generations to help them achieve their goals and keep their wealth within their families. The best part is that we often cost the same or less than what you’re currently paying, but may not even know it.
For more information about any of the services or products listed, choose a time to speak with one of our advisors or register to attend one of our upcoming events.
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Or give us a call at (727) 304-6000