10 Jun 2013

How Do I Choose The Right Advisor?

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Last year, we posted a blog that talked about a Broker vs. Fiduciary (fee only independent advisor). There was a video that we posted along with it that explains these differences by comparing them to a Butcher vs. Dietician. The more we had this conversation with our clients and prospective clients, the more we realized we needed to help make this distinction a bit more clear. All Star Financial is an independent Registered Investment Advisor (RIA) and there seems to be a lot of confusion about what that means.

Charles Schwab has recently launched a campaign called, RIA Stands for You. It is their hope and goal to help individuals, such as you, understand the importance and meaning of an RIA. Here are 5 key benefits of an independent RIA, like All Star Financial:

  1. Tailored advice based on your goals. Part of our job as wealth managers is to address all areas of your financial situation & give you the best, objective advice we can give when you need it.
  2. You know what you’re paying for. As a fee-only advisor, fees are based on a percentage of assets under management which makes the structure simple, transparent & easy to understand.
  3. Advice for your complex needs. We provide services and experience that can address a variety of complex investing needs that often arise when someone accumulates significant wealth. In the past, we have been known to help clients plan for their retirement income, strategically claim their social security benefits to increase their cumulative amount, sell a business, solidify their estate plan, strategically plan for taxes, refinance their mortgage and plan for education expenses.
  4. A different kind of relationship.  Since we average about 50 clients per advisor, we are able to establish a personal relationship with our client that holds us to a higher level of accountability & trust. The best statement from our clients comes when they state “you know we consider you as friends, not just an advisor.”
  5. You know where your money is held. We use credible institutions, Fidelity Investments & Charles Schwab, as custodians to safeguard client’s assets.

When choosing an advisor that is right for you, there are many questions you need to not only ask your advisor, but ask yourself as well. RIA Stands for You has a great website with tools to help you make the best financial decision possible. Please visit their website or contact us today to receive a copy of the booklet “How do I choose the right advisor?”. We believe the more you look, the better All Star Financial looks.

Send this blog post to 5 different friends or family members, CC us on that email, and your name will be entered in a drawing for a $100 gift card to the Parasole Restaurant Chain (Manny’s, Uptown Cafeteria, Mozza Mia, Chino Latino, Salut, Pittsburgh Blue, Burger Jones, Good Earth & Muffleta).

Have a great day!

The All Star Team

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