I take the responsibility of managing your wealth very seriously. From the way I’ve structured my business, to the way I manage my clients investment portfolios, the approach I use is designed to ensure that servicing clients is my main focus.
As a fully independent firm, my interests are completely aligned with my client’s interests. I am not owned by or affiliated with a brokerage firm, investment bank, insurance company or money manager. This provides a conflict-free environment from which to advise my clients. This is a critical differentiator because more than half of all financial advisors work for brokerage firms, banks or insurance companies.
At Solid Rock Wealth Management, we have:
- No proprietary mutual funds or annuities
- No “preferred” products or services to sell
- No favored investment vendor relationships
- No sales quotas or company sponsored sales contests
I am compensated solely by my clients, and do not receive any outside inducements or incentives for recommending investments or financial products. This is the true definition of being a “Fee-Only Advisor”. A “Fee-Based” advisor, on the other hand, receives a combination of fees and commissions. This creates a conflict of interest and a lack of clarity for clients.
I’ve been a financial advisor since 1989. With over 25 years experience in many facets of financial planning, I’m able to help you make smart decisions with your money. And because I plan to be in this business for many more years, you’ll have someone you can establish a long-term relationship with.
I Limit My Client Base
I limit my client base to 100 families. By doing so, I’m able to develop a close relationship with all of my clients and provide very personal and responsive service. This is different from other financial advisors who may have 300 or more clients with no time to spare for great service.
I have outsourced many of the daily administrative activities that RIA firms are faced with, this enables me to focus my time and attention on servicing my client needs and advising them on their important financial decisions. And, unlike most advisory firms, I am not burdened by the obligation to supervise, train, and manage a support staff.
I keep my overhead costs low and I pass on those savings to my clients in the form of low advisory fees. My fees are priced far below the industry average for advisors offering similar services. I also use very low-cost investment products. The aggregated expense ratios of our portfolios are about one-third the cost of a similarly allocated portfolio of actively managed mutual funds.
As a Registered Investment Advisor, I am charged with an elevated duty of care, prudence, and diligence.
There are two standards of client care and responsibility in the financial services industry:
- Suitability Standard Of Care. The suitability standard of care is the lowest acceptable level of care in the industry. Approximately 94% of all financial advisors settle for the suitability standard of care, which states the broker must perform reasonable diligence on products, understand those investments and have a reasonable basis to believe that a security or investment strategy is suitable.
- Fiduciary Standard Of Care. The fiduciary standard is the highest level of care in the industry. Your attorney, your accountant and your doctor must embrace a fiduciary standard of care. We acknowledge our responsibility as a fiduciary to you and embrace that standard in writing with each client.
My mission is to help my clients achieve their financial goals, simplify and organize their financial lives, and create peace of mind both for today and the future. Call me today to discuss how I can help you create a solid plan for your financial future.