Are You A Good Fit For My Services?
I’ve been established in the industry as a retirement planner for many years, and as such I have a core group of clients that I have worked with for many years. While every client is different, they do have some key similarities. If you share some of these characteristics, you may benefit from my services. My firm is called DaVinci Wealth.
- Most of my clients are either retired or within 10 years of retirement
- Most of my clients are preservation and distribution oriented. They place a higher value on the safety of their investments, and much less emphasis on high risk/high reward to generate higher returns.
- If your preferred, “worst-case scenario” is gaining 5 percent when the market gains 15 percent versus losing 20 percent when the market loses 25%, you may be good fit.
- My clients are patient, long term, goal-oriented investors. They believe in a customized solution to their asset management, and income generating needs, and are not interested in a short-term “trade” that may or not may not work.
- My clients are more than just a bank or brokerage account balance, they are family oriented, community minded and seek a higher purpose than simply accumulating assets and personal belongings.
- My clients understand the value of knowledge and are open to advice. They are willing to listen to, and act on, sound strategies that will solve a financial problem.
How I Do Business as a retirement planner – DaVinci Wealth
I am a fee-based advisor and a licensed insurance professional. I believe those 2 distinctions compliment one another very nicely. On the one hand, as an Investment Advisor Representative with an SEC registered Investment Advisory Firm, I act as a fiduciary for my clients. This means I have a legal obligation and duty to put my clients’ interests ahead of my own in all recommendations I make. As an insurance professional, I have an additional array of tools available to me that can be used to solve client problems. I heard an advertisement on the radio today for a local Fee-Only advisor. He was saying that he had no conflicts of interest because he sold no products, he only charged fees for managing assets. While that is a noble description, I think it unfairly and arbitrarily eliminates many quality options a retirement planner can use in pursuit of the best solutions for his clients. To discount and discard a complete category of investment options, simply because they pay a commission to the advisor seems borderline malpractice to me. So, yes we use insurance products in our practice, just as we manage assets for a fee and quite effectively, I might add. Our practice is planning and process driven, not product focused. Each and every client receives a unique financial and investment management plan geared towards their individual goals, dreams, desires and objectives. We build these plan around life events such as retirement or wealth transfer. My specific area of focus is in retirement income planning; However I have a terrific virtual team with incredible resources and tremendous knowledge in tax planing, legacy planning, and investment management. I communicate regularly with clients using a wide array of technology. Email is my preferred communication method. I also blog, and send regular portfolio updates, newsletters, and other market related items regularly. As a time management and productivity tool, I block out time each week to meet with client and prospective clients. The rest of my time is spent doing research for client benefit and reviewing client accounts. When a new client is approved to join the firm, the follow up and review meetings are typically done quarterly. Usually, after 2 or 3 of these meetings, as client become more comfortable with our processes and the information we are sharing, they opt for meeting every 6 months. I provide unlimited email communication between meetings. Most clients are either local to Prescott, Arizona, my new hometown or in Southern California where I had offices for many years. For those clients who may be geographically challenging, we work virtually, using web conferencing, phone, email, to communicate regularly. If you’re the type of person that likes to talk frequently via telephone with me personally then we are probably not a good fit. My experience is that frequent telephone conversations without a prearranged objective is counter productive. I don’t have the information I need at the time of the call I have to look up account info, investment info, statement information, etc. and it works the other way as well. If you aren’t prepared for my call, my questions, etc. Its easy to see how this int a good use of our time. Phone appointments, however, are highly productive and are always welcome. Especially when a clearly communicated objective is agreed upon in advance. All clients have 24/7 secure online access to their accounts. My firm invests heavily in technology to provide clients with real time account alerts and monitoring to ensure all planning is done in advance, when needed, rather than the reactionary, emotion driven way many advisors provide support. Our primary focus is retirement planning, which includes lifetime income strategies, tax minimization strategies, RMD strategies, growth strategies to hedge inflation and health care costs, long-term care planning, and of course legacy optimization.
What I Charge:
I charge a simple, low, fee for managing assets. Our fees are based on a percentage of the assets under management. For asset management we strive to keep costs as low as possible, so clients can keep more of their money. I will say that we are not the cheapest on the street, nor are we the most expensive. Price is what you see in the absence of value. I am sure you wouldn’t go to the cheapest surgeon for your brain surgery, nor the cheapest attorney for critical legal needs. I believe we are a resource based firm, and not a commodity based firm, my clients want a resource based solution solution to their financial problems, not a commodity based solution. When we manage assets, it is done using an independent custodian (Such as Fidelity, Charles Schwab, TD Ameritrade) and we never take custody of assets. This is an important protection for investors against fraud and theft. It also ensures I never make a commission for transactions as I am not a registered representative of any financial custodian. Most of my client assets are held with Fidelity, or TD Ameritrade, although we have the ability to work with others (Schwab, Folio Institutional) should the situation call for it. All fees are fully disclosed in our ADV and wrap fee disclosures. You will know exactly what you are paying before you are asked to sign any documents. We strongly believe in total transparency. If we use insurance products as part of your overall plan, the insurance companies pay us a commission directly. the commission will never come out of your pocket, and your account values are never reduced to pay a commission.
What I Do For Clients – Wherever They May Be:
I believe clients and advisors must get long, like one another in order to work as a team. Good outcomes are the result of a process, and not an overnight, one-time, fix. It takes time, patience and trust. I’ve structured my work and services in a manner that gives clients personal attention and financial management support. I am constantly looking to improve the processes and find better ways to interact with clients to provide the best experience possible. I sincerely promise to utilize the best of my abilities and the countless hours of research, in practice management, investment management, retirement income planning, current product offerings, and leverage it to benefit those who place their trust with me and my firm. Due to advancements in technology I’m now able to work with investors all over the country. We have a wonderful web-based virtual meeting program that allows me to work with clients in a very personal manner despite being hundreds or even thousands of miles away. If you’ve never thought of working with an advisor virtually – I think you will be pleasantly surprised at how easy, how efficient, and enjoyable it can be. If you live in Northern Arizona, I have a beautiful office in Prescott and I am happy to meet with you there. If you are in Southern California, I am there often for both personal and business visits, I am happy to meet with you the next time I am in town.
Could We Be A Fit?
If after reading this essay, (I apologize for it’s length, but I want to spell out as much as I can here to avoid any confusion when we speak) you are interested in learning more, I am happy to invest an hour of my time getting to know you better. I want to understand your personal goals, as well as your financial situation, to determine if there is value I can provide. I do most of my initial appointments over the phone, unless you are local to the Prescott area, in which case I am happy to meet you at my office. To set up an initial meeting, have your questions answered, and determine if might be a good fit, just use the scheduling link by clicking here Thanks for checking out this page and getting to know more abut who i serve and how I work with clients. All The Best, Darren