This is the fourth post in a series inspired by a Forbes Magazine article that listed a number of questions you should ask a financial advisor.
Searching for a financial advisor that fits for you can be overwhelming. Over the past few weeks, we’ve been digging deep into some of the questions you should ask when meeting with a prospective advisor.
“What services do you provide?” is an important one.
The core service we provide at Sampson Investment Management is investment advice and management to achieve our clients’ short, intermediate, and long term goals. But we are more than an à la carte menu of services from which you can choose. We provide guidance over the decades to our clients as the expected and unexpected occur, affecting every day decisions. We choose to work with those who are interested in building a relationship and working together over the long-term. Of course, it’s better for our business to retain clients, but it’s beneficial to you to have an advisor who knows and understands their entire situation.
Before making investment decisions we evaluate the client’s insurance needs, estate planning needs, information about their financial situation, and finally, concrete information about goals, objectives, and anticipated timelines, so that we can accurately assess their starting point, and then develop scenarios to achieve their goals, objectives, and dreams.
In essence, we are applying the principles of sound financial planning before making investment decisions. In this process we are likely to identify the types and amount of insurance they need, and are able to provide that coverage if needed.
In order to select the right type of investments for a client, it is important to assess his or her risk tolerance. This allows us to have a conversation about the appropriate amount of risk for that client to assume, and helps us in the design of an appropriate portfolio that matches his or her risk tolerance.
The investment products we provide include mutual funds, exchange traded funds (ETFs), annuities, and individual stock strategies. We employ no-load products whenever possible so we remove the conflicts of interest that are often present when compensation is paid for making certain investment decisions.
The Holistic Approach to your Financial Future
We also work to establish relationships with our clients’ tax and legal professionals, and over time, we have built a network of financial specialists to give clients appropriate referrals if they don’t have those relationships. This holistic approach allows for the development of a team that can work together for the benefit of the client (see financial team post)
It is this combination of providing superior investment products and strategies through the financial planning process, and then implementing this plan along with a team of financial professionals, that defines our value proposition.