Changing financial advisors, or finding a financial advisor for the first time, can be an anxious endeavor. At Glassman Wealth, we strive to be transparent while assuring that every client understands our role in their lives, what the transition will entail, and how we're compensated for our services.
No trades or changes to the current portfolio need to be made to join our firm. After a decision is made to move forward with us, we work to transfer the assets in-kind to Charles Schwab or another custodian of our client's choosing. We use Charles Schwab as the custodian for 99% of our assets because we think they're one of the best in the business, and we have negotiated very low trading and margin expenses for our clients.
Keep in mind that we don't place any trades in the accounts until you have identified your goals, needs, and risk tolerance.
Financial Planning and Education
Working with Glassman Wealth is not just about investments. In the first year, we spend time on additional aspects of financial planning - retirement planning, estate planning, tax planning, and insurance coverage. We don't sell insurance so our advice is based solely on your needs.
Our clients are smart and engaged. They want to understand WHY we're recommending a strategy and how those decisions impact their family. By empowering our clients, they gain a clearer picture and deeper understanding of their financial situation.
Our goal is to have at least two meetings with every client each year. That said, we adjust this schedule based on each client's need for more frequent meetings or planning initiatives. In between, you will hear from the Glassman Wealth team about what's going on the market, how it impacts YOUR portfolio, and what we're doing about.
As a fiduciary and a fee-only firm, we have no incentive to recommend one investment over another. We discuss what each client is looking to achieve from the portfolio and determine the risk necessary to obtain those goals. There is no need to liquidate the portfolio, realize capital gains, and move into our portfolio. We analyze the current gains in the portfolio and determine the most tax efficient way to get to our recommended risk level. We make sure the clients understand the tax consequences, if any, before we place any trades. Nobody likes surprises at tax time!
Building relationships with our clients and their families is the foundation of our growth. We are not looking to grow for growth's sake. The families who work with us have confidence that the advice they receive and the decisions being made are in their best interest.
We strive to live our philosophy of sharing a passion for enriching our clients' lives every day.