Mastering the financial landscape can feel like a complex, if not impossible task. It’s clear why high earners prefer to outsource their money management responsibilities and the stress that comes with it.

You may consider hiring a Wealth Manager if…

• You value expert advice and understand why Fiduciary Financial Advisors put your interests before their own.
• You understand the benefit of having a Financial Coach who helps you stay on track to meet your long-term financial goals.
• You learned that it’s almost impossible to keep up with the ever-changing financial landscape.
• You’re tired of the stress of the ups and downs of investment research and management.
• You wish to protect your retirement and legacy using sophisticated investment, tax planning, and wealth preservation strategies.

Finally, it merits attention that the financial world has done a very good job of confusing the public lots of of ambiguous professional titles.

As you explore your options for wealth management, you may come across financial advisors, financial planners, brokers, investment advisors, stockbrokers, wealth managers, and agents. 

For simplicity’s sake, we’ll split these financial professionals into two categories: Broker and Advisor.

Financial Broker vs. Financial Advisor: What’s the difference?

When trying to identify just the right person for your specific financial need, stick to this general starting point:

• A Broker works for an investment firm, and persuades you to buy or sell stocks, bonds, mutual funds, ETFs, and other financial products. They typically focus on a small component of your financial life. Brokers are not fiduciaries.
• An Advisor takes a comprehensive view of your financial past, present, and future. Some, but not all, Advisors are fiduciaries.

Bonus tip: A Fiduciary Advisor is required to always put his/her client’s interests first.

As Fiduciary Advisors, we’re legally obligated to act in your best interest. Fiduciary Advisors generally charge a flat fee. Because of the compensation structure, Advisors are seen as having fewer conflicts of interest than brokers.