Selecting the Right Fiduciary Wealth Management Firm for Your Needs

Whether planning for retirement, your child’s education or buying a rental property, a fiduciary wealth management firm can help you make informed decisions to achieve your long-term goals. If you're wondering how to select the best financial and wealth management firm for your needs, here are four critical aspects to evaluate.

But First, Why a Fiduciary Wealth Management Firm?

It's essential to understand why you should be selecting a fiduciary firm in the first place.

Fiduciary wealth management firms have not only an ethical obligation but a legal one – they must always act in their client’s best interest. Non-fiduciary advisors can have conflicts of interest or may even prioritize their financial gains over yours.

Working with a fiduciary firm ensures your financial well-being is central to every decision.

Factors to Consider When Selecting a Firm

Credentials

Go one step beyond a fiduciary designation; look for a firm with advisors who hold professional designations. Such designations generally indicate a commitment to financial education and an interest in keeping current on financial topics, particularly when the designation has a continuing education requirement.

As you evaluate potential wealth management firms’ credentials, consider their experience. Do they specialize in the specific areas you're looking for assistance with? By choosing a firm with both the credentials and expertise to assist with your unique needs and goals, you position yourself.

Fee Structure

A transparent, fair fee structure is also an important determining factor, as it helps build trust and clearly shows what the services will cost. When speaking with potential firms, be sure to ask about their fee structures, like if it's based on a percentage of assets, is a flat fee, or if they work on an hourly rate.

Approach

Everyone's financial situation is unique, which means everyone's wealth management plan should be just as specific. Look for firms that take a personalized approach and take the time to fully understand where you're at and how you'd like to improve your financial health.

A tailored investment strategy that's aligned with your objectives, risk tolerance, and lifestyle preferences helps ensure that you are pursuing your specific financial goals.

Ability to Adapt to Changing Needs

Maybe you're only looking for financial planning assistance at the moment. But what about five years from now? Ten years from now? In the near future, you might need estate planning guidance or could benefit from enhanced tax planning. Because needs and priorities can shift as time passes, finding a firm that can keep pace with your needs, no matter how they evolve, is important.

Assess the full range of services a wealth management firm provides. Perhaps you don't need every single service they offer, but don't forget to think about what you may require in the future. A firm that can handle your changing needs ensures all aspects of your financial life are addressed cohesively and strategically.

Schedule a Consultation With Shared Vision Wealth Group Today

Our fiduciary wealth management firm’s team are experienced professionals who will always act in your best interest. We operate on a transparent, no-commission, fee-only structure and pride ourselves on delivering customized experiences. Because we take a holistic approach to wealth management, we offer several services that are designed to help you achieve your financial goals.

We invite you to schedule an appointment with our experts to learn more about us and how we can help you plan for and protect your financial well-being.