“Are there any hidden fees or products I have to buy?”
No. PBL Wealth Management, LLC is a privately owned, independent Registered Investment Advisor. We are in the financial advice business not the financial product sales business. We work on a fee-only basis and we aren't beholden to someone else's agenda. Our sole focus is serving the ones who have entrusted us with their financial well-being and putting their interests first. Because of this, we only engage clients for whom we believe we can provide substantial value. We will take time prior to any client engaging our firm to make sure there is an ideal fit between our services and a potential client's needs. We are happy to provide an introduction to another professional in cases where we determine there is not a fit.
“What if I already have a financial adviser?”
You're in good company. The majority of our clients already had a financial adviser relationship when they came to us. One of two things happened in each case: They either found that the depth and scope of our advice was so different from their existing adviser that we could collaborate or, more often, they came to see us because they felt they weren't getting what they needed from the existing adviser. We're happy to provide a complimentary second opinion on your current plan or portfolio and handle the transition from your prior adviser on your behalf should you choose to engage our firm exclusively.
“How do you get paid?”
We are a fee-only practice. Because we are an independent firm, we are able to align our compensation structure with our clients' needs. We can be engaged on a fixed fee basis and we're able to be engaged based on a percentage annual fee for our portfolio management services. The fixed fee is based on the scope & complexity of the advice and the percentage fee is determined by the size of the investment portfolio we directly manage for a client. We will waive our fixed annual planning fee once the total portfolio assets we are managing for a family exceeds $500,000. Our clients know up front exactly how much their wealth management costs whether we are engaged for a fixed annual fee or a percentage of portfolio assets.
“How often will we meet?”
A key value we provide to clients is our availability. We understand you often need answers quickly so you can make confident decisions. We strive to be available for on demand advice for current clients or otherwise be able to provide a same-day response to requests. With regard to developing your formal wealth management plan, we typically meet with a new client or family 6 - 8 times in the first year. There is more data gathering and discussion time at the outset of an engagement which means you'll be seeing your adviser more frequently. Once your wealth management plan is in place, we will agree on a regular review schedule that meets your expectations for making progress on your plan.
“What is a fiduciary, why does it matter and is that what you are?”
Being a fiduciary is the highest standard of care that an adviser can be held to. We act as a fiduciary for each of our financial planning and wealth management clients.
There are different standards of care a financial adviser can operate under and this can drastically affect the quality of advice a client receives. Being a fiduciary in the financial services industry means the adviser has a legal obligation to act solely in the client's best interest AND disclose any actual or potential conflicts of interest the adviser has when making recommendations.