Curious what to look for when choosing a trusted advisor? The following are 10 principles Delap Wealth Advisory has adopted to help us serve as your trusted advisor.
Act in the Best Interest of Our Clients
We provide advice and recommendations that are in our clients’ best interests. Period. Not because we are legally obligated to (although we are). Not because it works well as a business model (it does). Simply because it is right. Our other goals follow the path of this guiding principle.
Pursuant to the Investment Advisers Act of 1940, we follow a fiduciary duty standard of care. This is often referred to as the highest legal duty of care for a client’s welfare, and it’s one we gladly accept — in contrast to the less-stringent suitability standard.
According to the Financial Industry Regulatory Authority 2020 FINRA Industry Snapshot, only 9% of investment professionals are registered like Delap Wealth Advisory: Investment Advisory Representative–ONLY.
Deliver Attentive, Individualized Service
We provide a high level of personal attention. We make a point to get to know all our clients and to learn what is important to them. Developing personalized insight is essential to providing appropriate advice and service to each client.
Provide a Team for Each Client
Each client benefits from a team of professionals. We help clients make sound investment decisions by incorporating expertise from the areas of wealth management, financial planning, tax strategy, portfolio advising and fixed income into their long-term plans.
Through our access to carefully selected alliances, we have a foundation built on ongoing support, education and resources, fueling our ability to serve our clients. A Delap Wealth Advisory client works with one integrated, cross-disciplinary team that includes the insights of CPA, MBA, CFP, & BFA.
Build Customized, Integrated Financial Plans
We develop financial plans that integrate each client’s unique strategy; personal situation; and willingness, ability and need to accept market risk. These plans are formalized within a written Investment Policy Statement to ensure consistent adherence.
We take the time to focus on delivering true wealth management services, not just money management. This means integrating estate and tax planning and risk management (needs including life, health, long-term care, and property and casualty) into an overall financial plan.
Achieve Goals Through Strategic Advice
Our advice is goal-oriented, whether the goals are imminent or long term. We evaluate and make recommendations for achieving them. We also fit each independent objective into the context of achieving an overall investment plan.
Focus on Professional Advice, Not on Products
We are client-centric, which means we focus on delivering sound advice and targeted solutions. The only incentive we have in offering particular solutions is whether the client’s best interest will be served.
Practice Full Disclosure and Seek Transparent Costs
Potential conflicts of interest as well as any costs incurred are fully disclosed and clearly explained. We give answers in plain English, with whatever level of detail the client seeks.
Align Our Fee Structure with Clients’ Best Interests
We provide fee-only investment management services. Fees are based on a percentage of the assets we manage for a client. We believe this approach best aligns our interests with our clients’, helping us meet our fiduciary obligation as a Registered Investment Advisor firm.
Take Advantage of Academic Research
Our advice is based on peer-reviewed academic evidence. We strive to make it straightforward and understandable.
In addition to seeking broad global diversification according to the tenets of Modern Portfolio Theory, we assist with appropriate asset location between taxable and tax-advantaged accounts.
Practice What We Preach
We invest our personal assets based on the same set of investment principles, using the same or comparable securities that we recommend to our clients. In 2016, Morningstar published that more than 50% of active stock pickers actually invested their own money in the fund.
Let Delap Wealth Advisory assist you in implementing and realizing your financial goals.
This material is derived from sources believed to be reliable, but its accuracy and the opinions based thereon are not guaranteed. The content of this blog is for general information only and is not intended to serve as specific financial, accounting, or tax advice. To be distributed only by a Registered Investment Advisor firm. © 2020 Buckingham Strategic Partners.
This blog is for informational purposes only. It should not be retransmitted in any form without the express written consent of Delap Wealth Advisory, LLC, an investment advisor registered with the United States Securities & Exchange Commission. The contents of this communication should not be construed as investment advice intended for any particular individual or group of individuals. All information, statements, comments, and opinions contained in this blog regarding the securities markets or other financial matters is obtained (or based upon information obtained) from sources which we believe to be reliable and accurate. However, we do not warrant or guarantee the timeliness, completeness, or accuracy of any information or opinions presented herein. Any historical price or value is as of the date indicated. Information is provided as of the date of this material only and is subject to change without notice.
Investing in securities involves the risk of loss, including the risk of loss of principal, which clients should be prepared to bear. No assurance is given that the investment objectives of any investment described in this communication will be achieved. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. The information contained in this blog is not intended as tax or legal advice, and Delap Wealth Advisory, LLC, does not provide any tax or legal advice to clients. You should consult with our firm or other independent financial, legal, and/or tax advisors before considering any investment or participation in any investment program.