Finance

Do the right thing – and your business grows

Despite the significant strides the financial services industry has made toward better informing clients of the cost of doing business, advisors using the fiduciary standard believe more can be done to increase transparency.

“The industry needs to stop hiding behind the mumbo jumbo and rhetoric. If you are selling something to a client, then you need to let them know what you are charging them; and if you are working as fee-only in a fiduciary capacity, you need to do a better job of helping clients understand what that fully means,” said Dan Moskowitz CFP, president and chief investment officer of Chatham Wealth Management. “The client should always know what the fee is – whether it is for a 401(k), a bond, a stock, or a mutual fund – whatever it is, the client must be fully informed.”

For Moskowitz, client education is an ongoing part of the advisor-client relationship. This effort, which includes a variety of communication methods, is what helps clients understand the basics of financial management, and it provides him with the platform to increase their financial knowledge.

Based in Chatham, New Jersey, Chatham Wealth Management serves clients from a variety of backgrounds and professions, but the one thing they all have in common is their search for excellent financial service from an advisor who is available to help guide them when they encounter the inevitable issues that arise in life.

Moskowitz went to work at Chatham in 1998 when his stepfather, John Raab, asked him to become his successor. He had worked on Wall Street for ten years prior after his 1988 graduation from Springfield College. In 2001, Moskowitz earned his certified financial planner designation. In 2004, Raab retired and Moskowitz has been at the helm since.

Chatham Wealth Management – which now has approximately $325 million in assets under management – has never been the type of firm with a goal of doubling its book of business within five years, Moskowitz said.

“Our goal has always been to do the right thing by our clients,” Moskowitz said. “If we do that, our business will grow anyway and it will grow in a positive direction.”

Learn more about Chatham Wealth Management online at chathamwealth.com

 

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