Average is not good enough … Our goal at Family Investment Center is excellence. We find excellent investment products and supervise an excellent service package. We maintain a library of excellent research materials and financial planning resources. We also demand top safety and security for our clients.
We won’t settle for average. We continually seek top managers or securities and meld them into superior custom portfolios. Each palette of investments is carefully tailored to personal or family goals. We enlist excellent managers, research, resources, and effort for our clients. Don’t settle for average. You deserve excellence.
Please search our blog posts for answers to common investment questions, and we look forward to sharing our knowledge and experience with you first-hand.
In a Time of Complexities, a Fiduciary May be the Solution
The opaque nature of the fee structure that many investment advisors follow has prompted Jay Clayton, SEC chairman, to target the complexities in hidden fees that are bad news for investors. Fiduciaries who are fee-only are becoming a more popular option for investors who need assistance in planning out their financial future.
Clayton is looking to crack down through enforcement, but also by clarifying disclosure requirements, according to an article in Investment News. Clayton has spoken out recently about advisors who are putting money for clients into an expensive mutual fund rather than those that are low-cost. Also, he’s spoken out about a type of financial advisor who will use fund assets to pay expenses for their firm when those expenses should be covered by the firm.
There is also the issue of brokers that will mark up securities prices to give themselves a raise, and they do it in secrecy. Consumers are beginning to take notice, as they become more fluent in investment terms – and as they continue to watch market dips with apprehension.
Fiduciaries act in the best interest of the client, and they typically have less complex fee structures to prevent confusion for clients or keeping them in the dark about what they’re being charged. Commission-free fiduciaries pose far less risk of giving advice that isn’t objective. The White House under Obama put out a report that said, “Some firms incentivize advisers to steer clients into products that may have higher fees and lower returns.” This conflict of interest was estimated to cost investors $17 billion a year.
Simply put, fiduciaries are advisors who will listen to you about your fears, your goals and how you want to spend your life in retirement, then offer advice that is in your best interest. A good advisor will speak in terms that you understand, yet without talking down to you. They will charge a fee that is transparent and easy to understand.
At Family Investment Center, we’ve operated as a fiduciary since day one. Our entire team has a hands-on approach to managing clients’ accounts, which means we collaborate to ensure that every client is thoroughly covered and getting what we feel to be the best advice. Schedule an appointment with us today and find out why jargon-free, client-first service can be a straight path to confidence.
3 Things You Need to Hear an Investment Advisor Say
Dan Danford, CEO and founder of Family Investment Center, came to the industry “by accident.” While working in the trust department of a bank, Danford was in charge of pension and profit sharing plans. He found that he was proficient at explaining investing to people that helped them better understand the process.
He parlayed that talent by creating Family Investment Center, bucking the trend in the industry by establishing a fee-only structure of payment. As a fiduciary, Danford and his team are solely focused on the best interests of their clients.
Danford is featured in a video on Investopedia where he explains how the Family Investment Center approach is unique in the industry. He also offers insights into how the team thinks about investing. Read on for a summary of these insights.
1. About Family Investment Center: You get a whole team
“People who walk in our door don’t get assigned to a particular advisor and work with that advisor. Instead, our team helps every single client. Each and every one of us sees all the transactions for all our clients every day. Each and every one of us has access to notes and files. That way, no matter who you are or what your situation is, you aren’t dependent on the whims of one person.”
2. Investing Values: Practical insights
“I favor the ones that have been shown to work. When someone comes to me and they ask about investing, one of the first things I want to know is what their situation is so I can compare them in my mind to people I’ve worked with in the past. Then I can draw upon my experience and ask, ‘What has worked for those people and what is likely to work for these people?’”
3. Advice Most Frequently Given: Be mindful
“What I suggest to people is that they are mindful of what they do financially. If they’ll just give it some thought ahead of time, they’ll make wise buying decisions, and those pay off in the long term.”
For more information about how Family Investment Center works for our clients, contact us today and schedule a visit. November 2017 is Millionaire’s Month at Family Investment Center. Why are millionaires rich? How do they think? What do they do (or not do) that you can apply to your own life? Is there a secret? Read more on our website or listen to Money is Freedom on SoundCloudor iTunes for a special four-part series.