To introduce you to the optimal financial advisor for your and your family’s specific needs, we have developed a proprietary matching program based on research¹ into what clients want from their financial advisors. This research has found that six key factors are important to clients’ satisfaction with their financial advisors.
These are the six factors and how we use them to select a financial advisor for you:
Without doubt, any financial advisor you work with should have integrity, be trustworthy and be dependable. He or she should demonstrate these character traits in every contact with you and your family.
How FAS identifies and matches character:
Every financial advisor in the FAS network has passed a rigorous background check that includes these areas:
- Social Security number trace
- Verification of educational background
- Verification of past and current employment
- Verification of military record, if applicable
- Consumer credit report
- Check of motor vehicle records
- Search for any bankruptcy record
- Search for any criminal record
- Search for corporate affiliations
- Search for any Securities and Exchange Commission disciplinary actions
- Search of civil records
- Search for unreported liens
- Social media profile
In addition, every financial advisor in the network works closely with a business coach at CEG Worldwide on an ongoing basis. We have verified with every financial advisor’s coach that each one has consistently demonstrated the qualities of integrity and trustworthiness.
This is the financial advisor’s ability to “connect” with you. You should feel a genuine rapport with him or her from your very first meeting. You should agree, even see eye to eye, on important issues.
How FAS identifies and matches chemistry:
Financial advisors in the FAS network specialize in serving particular types of clients. Some may focus according to occupation, serving corporate executives or dentists, for example. Others may focus on clients who face a specific set of financial challenges—widows and widowers or recently divorced persons, for instance. This focus gives these financial advisors significant understanding and insight into the challenges and needs of their clients, as well as personal empathy for them. To match you with a financial advisor with whom you will “connect,” we will select one who specializes in serving clients like you.
The financial advisor must be truly concerned about you and your family as people and should understand what is most critical to you, beginning with your life goals and financial objectives. Your financial advisor should care more about you and your family than he or she does about making money.
How FAS identifies and matches caring:
When it comes to money, everyone—including you and any financial advisor you may work with—tends to fall into one of nine different personality profiles, depending on their financial priorities and goals. To match you with a financial advisor who will have a deep understanding of your own goals and values, we identify your financial personality and then select a financial advisor whose own financial personality is highly compatible with yours.
Of course, the financial advisor should be smart and able to manage the technical aspects of your finances. Even better, he or she will be exceptionally technically capable. Better yet, the financial advisor will be recognized as a leading professional in your area.
How FAS identifies and matches competence:
We require all financial advisors in the FAS network to have implemented key best practices for serving their clients, including systems for identifying and systematically addressing clients’ most important financial concerns. Each is also required to engage in ongoing learning through CEG Worldwide, which keeps them at the leading edge of client service practices.
In addition, all the financial advisors we work with rely on networks of professionals who are qualified to address the specific financial challenges and concerns of the particular clients they serve. Backed up by a team of specialists, every financial advisor is extremely well-positioned to competently address his or her clients’ needs. We will select for you a financial advisor whose professional network is fully qualified to address your specific situation.
This is not a question of what the financial advisor costs but one of whether he or she provides you with true value for the cost.
How FAS identifies and matches cost-effectiveness:
Financial advisors use a range of pricing models that vary depending on the particular client, the service being provided and other factors. For this reason, FAS does not vet the financial advisors we work with according to a particular cost structure.
However, every financial advisor in the FAS network has built a successful business serving clients. We believe that the financial advisors’ success affirms that they deliver value at a reasonable cost to their clients. We believe you will find the financial advisor we select for you to be cost-effective. However, you may receive comparable services from other financial advisors with lower fees.
The consultative factor frames your entire relationship with your financial advisor as an ongoing, long-term partnership. You should feel like you are part of a collaborative approach whereby you have an active part in the management of your finances. You also should feel like your financial advisor is in contact with you as often as you prefer and about topics that are important to you.
How FAS identifies and matches a consultative approach:
All financial advisors in the FAS network are required to work with their clients on a consultative basis. Specifically, this means that they work closely with their clients to identify their key goals, values and financial issues and to create and implement plans for systematically addressing the challenges. They then meet regularly with their clients to discuss the clients’ progress toward their goals and any adjustments that should be made to their plans. As a member of the FAS network, you will find that the financial advisor we select for you uses a consultative approach.
Combined with our financial advisor vetting and evaluation process, our matching program creates a very high likelihood that you will be very satisfied with the financial advisor we introduce you to.
¹ Source: Russ Alan Prince and David A. Geracioti, Cultivating the Middle-Class Millionaire, Wealth Management Press.