Choosing a wealth manager is one of the biggest decisions you will have to make.
After all, this person will either help you realize your financial potential—or not.
Precedence Wealth uses a comprehensive approach that ensures you
maximize absolutely every aspect of your finances
(not only manage your portfolio).
“… we’ll match your investments to your specific needs, really listen, and we’ll meet with you at least twice per year to review your portfolio and your strategy… let’s mark up our calendars…”
How big their firm is, how many billions in assets they manage, their general reputation, experience, and their great knowledge of financial instruments…
You see, planning your financial future is no easy task. In fact, planning is hardly about just putting together a portfolio and reviewing it twice a year.
nowadays, any robot can do that.
The reality is:
(There’s much more to it.)
We’ve been led to believe that… “how to put together a portfolio that matches your investment objectives…” is what we should expect from a financial advisor. And furthermore, that if we do the “investing thing,” we are effectively planning for our futures…
We bet your advisor is not “advising” you about:
Structuring your debts & mortgages properly
Planning your family cash flow
How to plan for and minimize your tax exposure
Dealing with risk and insurance
The legal stuff—such as setting up a proper will, and all the legalities around it?
How all of this impacts your business (if you have one), and what matters for the future of your business
The best way to use any extra funds—invest, improve lifestyle quality, or reduce tax
Only 4% of investment managers beat the index over a 10 year period. And even less over a 15 to 20 year period!!!
…”So by aligning your investments to “be the market” rather than trying “beat the market” you are ensuring that you Never Overpay for Underperformance.” – Todd McLay
In our 10+ years of advising clients in all kinds of situations, we have learned that…
1) Personal finances are like buckets with holes, leaking money.
2) 95% of professionally managed portfolios don’t even match the overall market index!
3) Even when asset portfolios are beating the markets, there may be a lot of leaks in personal finances (like taxes, hidden fees or insurance.)
4) The single most important factor of taking control of your finances successfully is know-how.
If you and your financial advisor are mostly focused on managing asset portfolios, you are leaving money on the table. Maybe lots of it.
We start by asking the questions that will help us understand your financial situation in its entirety—questions about family, homeownership, insurance, taxes, business planning and more.
Once we have a 360° view of your finances, we can identify where the holes are, and lay out a plan that addresses every possible aspect of your financial life.
We identify your financial leaks—which most people don’t even know about—and we plug the holes, so you get to keep more of your money (and preserve your lifestyle).
Aaron, Ergonomist, guitar player, snowboarder, traveller and Freedom 50 targetter.