Fulfilling Our Commitment to You
WHY ARE YOU JOINING An INDEPENDENT INVESTMENT ADVISORY FIRM?
Our team has always been steadfastly committed to serving our clients and their families. Our research convinced us that we could offer better service with an independent business model, especially when we reviewed the resources that are now available through independent partnerships. As owners of our wealth management practice, we have made significant changes that we believe will be of tremendous benefit to you.
WHY IS AN INDEPENDENT MODEL BETTER THAN WORKING WITH LARGE BROKERAGES?
We believe the large brokerages, or “financial supermarkets,” have inherent flaws including (1) a lack of transparency around fees; (2) excessive conflicts of interest; (3) management’s focus on short-term goals at the expense of long-term success; (4) and a bureaucracy that constantly takes advisors away from client service. We believe these factors work against supporting a client-centric business.
WHAT’S GOING TO CHANGE?
Our name has changed but your relationship with us will remain one of trust and commitment to service. We now have multiple locations to serve you, and the same dedicated people who handled your accounts at our prior firm will also handle your accounts at TRUE Private Wealth Advisors. As an independent firm, we’re not limited to working with a single company. Instead, we can select from a variety of firms that offer services such as custody, research and software. As a result, we are confident we can offer greater choice and better service.
ARE YOU DOING THIS FOR PERSONAL FINANCIAL GAIN?
Our goal was to create a platform that improved service to our clients. If our primary interest were financial gain, we would have taken one of the many offers to transfer our “book of business” to another large brokerage house. Instead, as owners of our new firm, we have made significant personal investment to ensure we are providing the best platform possible for our clients. Our independence reinforces our commitment to our clients. We believe that if we help you to be successful, we will be as well.
WHERE WILL MY ASSETS BE HELD?
Fidelity Investments® provides clearing and custody services for TRUE Private Wealth Advisors. Fidelity Investments is a leading provider of trading, custody, and brokerage services to registered investment advisors, trust institutions, and third-party administrators. However, you are free to choose the custodian of your preference. Just as your portfolio is managed today, we will have the authority to manage, but not remove, assets from your accounts. Regardless of where you decide to keep your assets, we can continue to advise you on how they should be managed as part of your overall financial plan.
HOW WILL THIS CHANGE AFFECT YOUR FEE STRUCTURE?
We expect our clients’ fees to remain the same, but our new fee structure will be much more transparent. At our previous brokerage house, we were limited to an inflexible corporate fee structure. As an independent firm, we can source multiple providers of services finding and providing the best one to suit your needs.
HOW WILL THIS CHANGE AFFECT YOUR PORTFOLIO MANAGEMENT?
Rather than depend on a limited amount of research coming through a single source, we wanted the broadest possible access to high quality research. TRUE Private Wealth Advisors has relationships with multiple research groups who are free of proprietary conflicts of interest.
DOES BEING INDEPENDENT MEAN THAT YOU ARE ALONE?
No. As an independent firm, we are free to partner with some of the best institutional minds in the business. For example, we are utilizing a specialist firm called Dynasty Financial Partners which provides us with the opportunity to source the finest technology, research, investment resources and capabilities in the industry, including top portfolio managers, hedge funds, private equity, private placements, collateralized lending and a range of other services. Those partnerships allow us to maintain our focus on you. Dynasty brings the best resources to us to provide the right solutions for you.
WILL I LOSE INSTITUTIONAL OVERSIGHT OF MY ASSETS?
In becoming a SEC-registered investment advisor, we are subject to the same regulations and high level of disclosure to the SEC and other regulatory agencies. In fact, our firm operates under the Fiduciary rule which holds us to a higher standard.
AS A INDEPENDENT FIRM, WILL YOU BE OVERWHELMED WITH ADMINISTRATIVE TASKS?
The simple answer is “no.” We have spent months preparing for this moment to ensure a smooth transition for our clients. In addition to our planning, TRUE has a very experienced and successful leadership team.
WILL I BE ABLE TO TRANSITION MY NON-INVESTMENT SERVICES?
The custodial firms we have selected offer many of the same services offered by our past firm (e.g., direct deposit, web bill pay, check writing, debit cards, credit cards, etc.). We will work closely with you to review all these services, help you determine the best solution and facilitate any changes.
WHY ARE YOU SO EXCITED ABOUT JOINING TRUE PRIVATE WEALTH ADVISORS?
TRUE Private Wealth Advisors embodies our relentless focus on our clients. Our clients will receive objective advice, transparency and access to what is largely considered to be the industry’s best intellectual capital and world-class service. We are excited to welcome you to our new firm.