What is the planning process the Wealth team follows when working with clients?
The Financial Advisors follow a 5-step process when working with their clients.
- Step 1: We identify and determine your current areas of financial concern. “Where do you want to be”?
- Step 2: We gather the necessary data to better understand your current situation and help to develop your financial goals and priorities. “Where are you now”?
- Step 3: We do an in-depth analysis of the data we obtained, develop a plan to present and show you the results of the analysis, and make sure they align with your priorities. “Are you on track to get there”?
- Step 4: We create and evaluate the options that make the most sense to get you to your goals. We present the plan and implement the solutions to put action to your plan. “A plan without action is just a dream”.
- Step 5: An on-going review of the plan and your situation to make any adjustments necessary along the way to get you to your goals.
How do the advisors get paid?
In almost all cases, the advisors are paid fees for their services, and the fees can be collected in two ways:
- Fees for Financial Planning: A client can pay an upfront fee, an hourly fee, or a retainer fee, to do an objective analysis of their current situation, and that plan comes along with recommendations tailored to the client’s situation, risk tolerance and overall objectives. While there is no obligation to implement the recommendations after the planning process is complete, the advisors can implement any and all suggestions they make, if the client wishes to work with that advisor.
- Fees to manage assets: In almost all cases, it makes the most sense to manage assets in a fee-based environment as opposed to a commission environment. We can charge fees as a percentage of the asset or a flat fee, depending on the client’s desires and situation.
Do you have a team that specializes in retirement plans?
Yes, we have a team of advisors that specializes in the Retirement Planning space. The team is comprised of Bryan Bonisteel, Tom Queri, Kyle McDermott and Matt Merola. Bryan deals with everything plan related, and Tom and the rest of the team deal with anything employee or participant related. The model they have built is hard to find where you have someone who specializes in plan design and compliance who stays focused on the plan, and the rest of the team makes sure each employee is taken care of properly, with their retirement plan and other financial needs. This is an area of expertise that helps us to stand out among our competitors.permalink
What is RDG Wealth?
RDG Wealth is a division of RDG+ Partners, and their sole focus is working with individuals and businesses on any of their financial needs. There are two areas that we can help both individuals and businesses: Risk Management and Wealth Management. Ultimately, all needs fall under one of those two areas, and RDG Wealth is equipped with experienced advisors to help clients solve their financial needs and issues. Working in tandem with the tax partners, RDG Payroll and RDG Benefits, makes it a true one-stop-shop for our clientele, helping them to solve almost any need they might have.permalink