The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into law in 2010 in response to the Great Recession. Since then, criticism of this legislation remains prevalent. Some contend that the regulations are not tough enough to protect against another financial meltdown, while others say they are too stringent even for industry professionals to navigate.

As an example, firms currently having total assets under management of less than one hundred million dollars are regulated by states. Once a firm exceeds that amount, they must follow national regulations instead. UCI Wealth Advisors, based in Meridian, Idaho, has felt the pinch of being regulated by the multiple states it’s registered in instead of one streamlined regulatory system.

“We are registered in multiple states. Once you have more than five clients in a state, you need to be registered there – and states all have different regulations and protocol, so it’s very hard to keep up on all the differences. Once you switch to national, then they have their own set,” said Travis Higgins, CEO of the firm. To reduce the complexity of the system, Higgins suggests that a uniform system be implemented at the national level that works down to the state level.

UCI Wealth Advisors serves small to medium business owners and other professionals. With a conservative philosophy, the firm adheres to investment strategies emphasizing low beta, liquidity, transparency and cost efficiency. “We believe that you can avoid volatility and stay consistent – and have your client be further ahead than when you are trying to go for return and following the market and the volatility. We tell our clients up front,  ‘our portfolios are not designed to return 30% annually,’ said Higgins. He added that some years ago, UCI, a fee-based firm, helped in the development of alternative products like the CPC Diversified Fund to hedge against market volatility. “We always try to be in the 6 to 10 percent range. By removing much of the volatility and being consistent, clients will have more money in the long run.”

Professional athletes compose a niche group of clients at UCI Wealth Advisors. While their incomes are considered significant, they most often are inexperienced in financial management. Higgins said, “It is important to educate people. There is a new generation of millennials who want to do things themselves – and that’s what some of the online programs and financial planning systems are being set up for. Because of that, they are going to become more savvy clients, and they are going to trust us for turning them on to those types of resources.” He went on to explain how UCI uses online software programs that empower people to become more financially literate. Now that compliance regulations regarding the use of social media are beginning to ease, Higgins also noted that the firm is starting to identify ways they can use these platforms to reach millennials and other audiences.

For more information, visit: www.uciwealthadvisors.com