Choosing a financial advisor essentially means entrusting that person with your financial future. It’s a scary decision for anyone – and it’s a decision the team at Wealth Management and Business Concepts does not take lightly. 

“The dollars we manage for our clients represent their goals and aspirations,” said David Coles, Chief Compliance Officer (CCO). “It’s our responsibility – our opportunity – to assist by ensuring that their assets are structured in a way that will allow them to leave the legacy they envision.”

Coles’ father started the firm in 2003 with a mission of helping clients build legacies for future generations, be it for heirs or to organizations that promote the betterment of society. And they do so by ensuring that clients know they’ve found a financial partner they can trust.

According to Coles, transparency is the first step in creating the trust and confidence clients need in order to weather the ups and downs of the market without making costly mistakes like succumbing to panic during dips, or missing investment opportunities. 

In an industry sometimes tainted with negative headlines, Coles understands why there’s a need for national fiduciary reform. However, the outcome could result in added cumbersome red tape for trustworthy advisors, possibly detracting from the level of attention that can be given to clients if they don’t have processes in place to handle new regulations.

“For our company,” Coles said, “we don’t feel that it’s really going to change much in the way we conduct our business, because we’ve always held ourselves to that higher fiduciary standard. We’ve created systems that allow us to uphold a higher standard while maintaining efficiency from the very beginning.”

An essential part of the Wealth Management and Business Concepts process includes setting the tone for trust and transparency with a code of conduct that establishes what clients should expect from the relationship, along with full, comprehensive annual reviews to look at past performance and revise strategies for the coming year.

“We notice that many advisors shy away from comprehensive planning because it can be costly and time consuming, but we are a little more old school in that area. It’s a disservice to clients if you can’t perform that level of financial planning with them,” Coles explained, adding that beta, gamma and alpha have a place within the planning structure but don’t override the client’s unique situation and needs.

“If you only create one plan upon meeting a client and then never revisit it, then the plan becomes useless,” he said.

Through the firm’s personalization tools – such as their Family Index Number  and Financial Stress Test – clients have the added peace of mind in knowing their portfolios are structured to accomplish their needs and goals even through the fluctuating markets.

For more information, visit: www.wmbci.com