Due diligence is difficult. We hope this table helps you do a great job, so you get the most value from your advisor relationship. The two tables compare and contrast advisory firms and advisors, respectively.
|Typical Advisory Firm||Journey Wealth Partners|
|Sources of Revenue||Fund Companies, Insurance Companies, Product Sales||Client Only|
|Structure||Each Advisor has “own book”||Collaborative Team|
|Wealth Management||Primarily Investment Management||Comprehensive Financial Planning and Integrated Investment Management|
|Investment Control||Discretionary||Non-Discretionary with an Investment Policy Statement|
|Average Clients per advisor||300||50|
|Regulatory Requirement||Suitability Standard||Fiduciary Duty|
|Compensation||Commission & Bonus based on Assets Under Management||Salary & Bonus based on Client Satisfaction and Planning & Investing Expertise|
|Advisor Priorities||Sales Quota||Client Retention|
(Required for Registered Representatives to earn commissions)
CERTIFIED FINANCIAL PLANNER™
(One of the industry exams to work for a Registered Investment Advisory Firm and must adhere to Fiduciary Oath)
|Certifications||None or Alphabet Soup||CERTIFIED FINANCIAL PLANNER™|
|Measure of Success||Assets Under Management through Sales and Investment Performance||Client Goals achieved through Implementing plans and strategies|
Read this illuminating post from the Above the Market blog, A Hierarchy of Advisor Value, to learn why the differences above are meaningful for you. Be sure to read the closing paragraph.
Ask us for a competitive analysis of risk, return, fees and all-in costs and benefits.