When it comes to your finances, you want to make sure that you are making the best decisions for your future. This is why it is important to work with a professional wealth manager, in Austin Texas, or elsewhere in the US. However, not all wealth managers are created equal. The right manager is one that understands your unique goals and needs, and one you can trust to always work with your best interest in mind. Here are some things to look for when choosing a wealth manager:
Looking for fee-only wealth management in Austin TX, or elsewhere?
1) Look for a wealth manager who is Fee-Only. This means that the advisor only makes money from the fees he or she directly charges. A fee-only advisor does not receive any commissions or incentives of any kind from product providers. Beware of similar-sounding attributes like fee-based, which allow advisors to earn commissions. Fee-only is the key. Because there are no commissions or kickbacks involved, a fee-only advisor can provide more objective advice.
2) Does the manager consider your entire net worth then designing your investment plan? Your financial situation, including everything you own, how you generate income, and your goals and preferences are unique to you. Importantly, they should all inform your investment strategy. Therefore, you need an advisor who understands your unique situation and can apply complex financial planning and investment strategies to your needs. Ask them what they think makes you unique, and how they may approach your situation.
3) Successful wealth management is a long-term endeavor, which requires a commitment to a strategy. For this to happen, you need to have an investment philosophy that matches the one of your advisor. Ask about the wealth manager’s investment philosophy. The advisor should have a clear investment philosophy and should be able to convey it to you in a way that you understand it, including what the advisor will do and when, and what they will not do and when. You may not have a clear investment philosophy, yet. So this discussion can help you formulate one. You want to make sure that the advisor’s investment strategy aligns with your own risk tolerance and financial goals. If the advisor uses too much jargon or terms you do not understand, don’t be afraid to ask them to speak in layman’s terms. Good advisors are usually good teachers, willing to explain and share their knowledge. and should not use jargon to hide information from you.
At Desmo Wealth we are a fee-only wealth management firm located in Austin, Texas. We can work remotely with clients all over the country to help them reach their financial goals and can meet with local clients if they prefer a more in-person experience.
Wealth management is much more than just about investing your money. It is a process that starts by identifying your goals and priorities, understanding your preferences and behavioral attitudes about risk, and uses this information to design your asset allocation, select individual investments, and monitor and manage your portfolio.
What is a fiduciary wealth manager?
Desmo Wealth Advisors, LLC is also a sworn fiduciary, which means we always put our clients’ best interests first. We believe that this is the only way to provide truly objective financial advice.
When it comes to achieving anything meaningful in life, planning and money concerns are unavoidable. At DESMO, we are enthusiastic about laying the foundations of your life pursuits with fee-only financial planning, investment management, and financial life coaching.
DESMO is a Greek word that means link or connection. Successful financial planners work with you to create a financial plan that creates the link between your values and your money.
Why Choose a Fiduciary Fee Only Wealth Advisor?
We are an impartial, fee-only wealth manager who only gets compensated by you for the advice we give. We do not get commissions or kickbacks of any kind for making certain recommendations. We are also a sworn fiduciary, which means that we are duty-bound to act in your best interests according to CFP® board ethical standards, the highest standards in the industry.
If you’re looking for a wealth manager in Austin, Texas, contact Us today!
We would be happy to answer any of your questions and create a plan to help you reach your financial goals!
