Wealth Protection

Financial Services and Family Values

About one in five financial advisors are women, according to the Certified Financial Planner Board of Standards, Inc. (CFP Board) So how does a firm, aiming to serve an array of clients, cultivate diversity and inclusion and start changing a long male-dominated industry?

Scott Frayler, founder and president of Long Island, New York-based Blue Line Wealth Management, has long believed that there should be more women in the field of financial planning. He not only says it’s time for women to take their place in the industry, but he also took action. And he didn’t need to look very far.

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Toward that end, Frayler kept it in the family.

“At my company I’m very excited to have my sister Meghan in our office. She’s in the process of acquiring all the pre-requisites to be an advisor and I think she will be a tremendous success,” said Frayler. “Meghan can be a valuable resource, and having that female perspective can help shape the firm and build its client base.”

After 18 years at a large firm, Frayler started Blue Line Wealth Management, mostly serving clients based on his own family experience. His initial niche: advising those in law enforcement and their families. He understood that there is a bond that unites the police family.

frayler400x500“My family has a long history of first responders, my grandfather, dad, and brother chose to become police officers while my great grandfather and a long list of cousins decided to become firemen. Those that choose to dedicate themselves to this line of work have a calling to do good. Due to the complex nature of the profession, it often places trials and tribulations on families,” Frayler said. “There are things that happen in this line of work that don’t happen in other lines of work.”

Frayler believed that his understanding of the police family dynamic would help him in such a specific arena, as well as several others.

“I’ve been exposed to the wonderful side of law enforcement, unfortunately, we have to deal with the downside of it, too. Dealing with families that lost a loved one in the line of duty is never easy,” he said.

While the law enforcement portion of the firm’s business remains quite significant, the client base has also expanded to represent other professions including educators.

Blue Line Wealth Management doesn’t hold fast to a minimum investment amount maintaining that anybody should be able to get involved with an advisor.

“For the younger client that wants to get started in an investment plan, we’re certainly not going to say we’re too big for them, and we’ll get them started on something as small as a monthly contribution plan,” Frayler explained.

Once a client engages with the firm, Frayler’s philosophy is to keep things simple. One approach is to send periodic emails to advise clients, regardless of whether markets are soaring or crashing. The key is to inform rather than inundate.

“We are not an ivory tower firm, we sit on the same side of the table with our clients and have an open door policy as we believe we are all a part of the Blue Line family. We respect our clients and want them to feel the value we put on each and every one of them. With the modern day marketing programs allowing you to touch a client every day via email we are the opposite.

We don’t use a marketing service, rather we choose to provide our own client letters when they are needed. We want the client to feel like we are right there with them because we are. When they feel nervous, we want to assuage their fears,” Frayler says. “When we say things, we want to be targeted and we want to reach clients who are looking forward to our emails in good times and in bad, giving them insight about what we see in the market, and then setting up a time speak on the phone or in person if necessary. The firm always looks for opportunities that may not have been there in a previous market cycle.”

Frayler’s knowledge of, and his relatable experience in law enforcement has allowed Blue Line Wealth Management to handle the financial planning for both the Nassau County and Suffolk County Police Benevolent Associations, along with several other police organizations.

“It’s through these relationships, and over the course of my career, that I’ve been able to show we’re a trustworthy enterprise, and we have some unique philosophies on what works for them,” he said.
But personal relationships underpin Blue Line Wealth Management’s broader client base, no matter the profession.

headshotfrayler“We are fortunate to have a wonderful client base, and I’m happy to be a partner on their journey – there’s nothing that makes me happier then when their goals are met,” Frayler said.
During the COVID-19 outbreak, Frayler fielded countless calls from clients as one would expect. But the conversations were not based in panic – they came from a place of caring and concern.

“It’s remarkable when clients are calling you to see how you and your family are doing, before we have had a chance to call them” he said. “It’s a special relationship and one that I don’t take for granted.”

For him, it all comes back to that sense of family and being able to relate to each other. “We follow a code of doing the right thing,” Frayler said.

For more information on Blue Line Wealth Management, visit: bluelinewealthmanagement.com

 

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