How do you differ from stockbrokers?
We differ in six major ways:
1. We are fee-only advisers and do not sell any products. Stockbrokers typically get a commission from investments and policies they sell.
2. We are an independent Registered Investment Advisory firm and adhere to a fiduciary obligation to put your interests first. Stockbrokers only have an obligation to recommend products that are “suitable.”
3. Our advisors have completed extensive course work and exams to attain CFP®, CFA, and CPA designations. Stockbrokers, by contrast, might only have studied to obtain licenses to sell securities.
4. We provide customized, comprehensive financial solutions to you as part of our services, while stockbrokers typically don’t provide this.
5. We use a third party custodian, generally Charles Schwab & Co., to better safeguard your assets.
6. At DWM, every client receives an extraordinary experience with caring people dedicated to protecting and growing your family’s financial future.
How do you differ from insurance agents? Do you sell insurance/annuities?
We do not sell insurance products (annuities, life, disability, long term care, etc.). However, we are very familiar with insurance coverage, products, and costs. Part of our ongoing review for you includes our independent, comprehensive review of your insurance. With your approval, we are able to work with insurance agents to help you obtain the right coverage at the right price. We are not compensated in any manner from the insurance agencies, nor you for providing this service.
How do I choose the right advisor?
Choosing the right advisor may be one of the most important financial decisions you make in your lifetime. Choose an advisor you feel comfortable with-both personally and professionally. It’s smart to take your time, talk face-to-face and ask the right questions.
Print out the NAPFA questionnaire and bring it to your advisor interviews.
What is the responsibility of a Fiduciary?
How are you compensated?
What are the designations CFP®, CFA, CPA/PFS, AIF®, AWMA® and CRPC®?
CERTIFIED FINANCIAL PLANNER or CFP® certification marks awarded by the Certified Financial Planner Board of Standards, Inc. to individuals who meet education, examination, experience and ethics requirements. A CFP® professional has proven competence in all areas of the financial planning process including: financial statement preparation and analysis, investment planning, income tax planning, education planning, risk management, retirement planning and estate planning.
The CHARTERED FINANCIAL ANALYST and CFA are designations marking a distinction that is globally recognized by investors, investment professionals and employers as the definitive standard by which to measure serious investment professionals. To earn the CFA charter, one must successfully pass through the CFA program, a graduate-level, ten major topic, self-study program that combines a broad curriculum with professional conduct requirements, culminating in three sequential exams. Commitment to professional ethics is at the core of what CFAs do. The CFA Institute promotes high ethical standards and investor protection through professional codes of conduct, guidance and outreach.
CPA/PFS is the designation earned by CPAs who specialize in providing estate, tax, retirement, risk management and investment planning advice. The Personal Financial Specialist (PFS) credential holders have a specific experience, education and examination requirement that sets them apart from other CPAs and financial planners.
The AIF designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care.
Individuals who hold the AWMA® designation have completed a course of study encompassing wealth strategies, equity-based compensation plans, tax reduction alternatives, and asset protection alternatives. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations.
Individuals who hold the CRPC® designation have completed a course of study encompassing pre-and post-retirement needs, asset management, estate planning and the entire retirement planning process using models and techniques from real client situations. Additionally, individuals must pass an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations.
What is a Registered Investment Advisor (RIA)?
How often do you meet with your clients?
How do you protect client confidentiality?
How are my assets protected at Schwab?
Who are NAPFA and the FPA?
The Financial Planning Association (FPA®) is the largest membership organization for personal financial planning experts in the U.S. FPA helps connect thousands of consumers to competent and ethical planners who uphold the “FPA Standard of Care.” FPA members are those who commit to the highest standards of professional competence, ethical conduct, and clear, complete disclosure to those they serve. They deliver advice using an objective, client-centered, ethical process.
Why do you say “We don’t set it and forget it”?
Does DWM have a disaster recovery plan?
What is discretionary trading?
What is your referral process?
If you think that any of your family or friends would benefit from the same value-added wealth management services that you are accustomed to, we are pleased to offer them a free consultation and/or portfolio review. If you provide a referral you can rest assured that:
- We will keep both yours and their information confidential
- There is no pressure for them to become clients
- We will follow up 2 – 3 times and will not hassle them if they decide not to use our services
- If our firm is not the right fit we will gladly refer them to a professional appropriate for their situation
Have you been disciplined by a professional or regulatory body?