Savvy Investor David Shares His Experience Choosing the Right Financial Advisor To Meet His Family’s Needs

Wealthramp April 28, 2022
Savvy Investor David Shares His Experience Choosing the Right Financial Advisor To Meet His Family’s Needs

When Pam Krueger first started Wealthramp in 2014, she made it her mission to help people to become more informed, confident investors and to build a productive, collaborative relationship with a fiduciary advisor who is best suited to handle their unique needs and goals. As we continue to collect feedback from our valued clients, our founder, Pam Krueger, caught up with savvy Wealthramp investor, David, to learn more about David’s experience hiring a financial advisor and how this changed his family’s life for the better.

 

How It All Began

When I first thought about changing our financial advisor, it felt like I was heading into darkness. I knew I needed to make a change, my wife and I knew we did. And I started the research and I wasn't sure what to expect. I thought it would be very painful.

We never really had an ‘aha’ moment or epiphany to make this step. Our accountant had mentioned it to us, but it was hard to think about letting go of that existing relationship. I also viewed it coming with a lot of change-related costs or hurdles so I hesitated. But it came to a point with certain life changes that we needed to do something different. It became very clear over a period of about a year.

So that's when I ventured out and looked at our options, and I was pleased at how easy it was to go to a website like Wealthramp and find these firms that matched my needs. I learned through working with Wealthramp that when I was interviewing a financial advisor, to ask to talk to their existing clients.

One firm we spoke to actually invited us to a financial conference. It was there that we were able to meet some of their long-term clients face to face and listen to their stories. Hearing from their clients, not only about the professional approach to portfolio management, but the personal relationship and support they had received over the years. It was just very important for us to hear that.

The Big Decision

So after comparing our options, we ended up choosing the firm who had invited us to the conference, and it turned out to be a much smoother process than I would’ve ever imagined. Just like their long-term clients had attested, we were overwhelmed by this firm’s support over the past year... the catering to our needs, to our children's needs, and a special needs trust we set up. These things are very important to us, and the firm really understood that, and put together a plan to address all those areas.

So circling back, the good news is change is never totally easy, but in this case it was much easier than I anticipated. And now when I look back, as I've told some people over the last year, I wish we had done it much sooner!

Additionally, for CPA related topics, their tax advice really stood out. We had always struggled and dreaded taxes, just like everyone else, but I didn't realize how helpful this firm was going to be. Getting all our documents together electronically… doing that has saved us hours of our time.

Reaping in the Rewards

I would say there are a lot of benefits to working with a financial advisor, but just about every month or so, there's a new appreciation. For example, we got a call after the Russian invasion of Ukraine, they wanted to talk to us about what that means and how the firm is approaching it. We just didn't get those kinds of calls with our previous advisor.

Lastly, with our new advisor I’ve never felt any sales pressure, or that there's a specific set of stocks to buy. We had seen good returns with our previous firm, and we had a good relationship overall, but our life was changing. We really wanted to be more thoughtful about our retirement plan, and really strategize around our future as we and our children aged. We have some special needs within our own family, and we’re happy we found a firm that understands and addresses our specific needs. They’ve gone above and beyond our expectations.

David’s story, like many of our valued clients, highlights the significant impact that hiring a financial advisor can have for you and your family. At Wealthramp we understand that no two consumers are alike when it comes to financial situations and needs. That’s why we’ve built a selective network of highly qualified, vetted fiduciary financial advisors to address different financial needs and situations. You can learn more about the value of working with a fiduciary financial advisor on our website.

If you enjoyed reading David’s story, you’ll probably appreciate Sarah’s and Jan’s as well. Or if you’d like to share your own story, email us at contact@wealthramp.com and we’ll be in touch.



Featured user stories are current Wealthramp clients who are not compensated to share their experience with Wealthramp and their advisor. The customer stories provided may have been edited for clarity, may not be representative of the experiences of all customers, and do not guarantee future results. The information provided is general in nature, is provided for informational purposes only, and should not be construed as investment advice. Consumers should evaluate advisors based on their own financial needs and situations.

 

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