Saunders Wealth Advisory Group (SWAG)
No. of Clients:
How do you plan to adapt to the regulatory changes that are set to affect the industry?
We have already embraced the full disclosure of fees strategy, where for the past eight years, we disclose to each client relationship via our customized IPSs, the fees they are paying on each strategy in each account. Additionally, if the fees are intended to be used as a tax-deductible expense, we council our clients to discuss this matter with the tax accountant/advisor. In the past, as additional regulatory changes became mandatory, we have always found a way to encourage client participation in gaining knowledge.
What makes a good advisor?
An individual who has the ability to be trusted and draw appropriate information from clients, listen carefully to their responses in both language and feeling and then be able to interpret this into a “financial plan” that is credible and easy to understand for the client. Finally, the actual implementation and subsequent timely follow-ups to ensure the path still suits is the key to success.
What is your top tip for other advisors?
It is all about the client. Stay true to your core beliefs. Knowledge and education will always serve you and your clients well. Create a circle of knowledgeable professionals around you, both in-house and in the community you serve . . . these people will benefit your clients.