Making the complex simple. It’s what we strive for on a regular basis. Think about your daily life. Do you pay a premium for simplifying things? Think Amazon, Netflix and LinkedIn, to name a few. How much would you pay to free up more time to take a vacation, focus on family or better yet, knock off those lingering home improvement projects that never seem to end?
Investors are no different. They’re routinely looking for advisors to simplify the complexities inherent in their lives—and they’re actively seeking our help. Many are starving for time and trust. Trust in our advice, guidance and wisdom to help them make their complex lives simple and give them back the time they so desperately need.
Most investors have never had formal training, let alone taken basic classes in school to learn about money management. I see great value in teaching investors how to make the complexities of financial planning, goal-based advice and multi-asset investing strategies simple enough that they’ll actually want to be a part of helping us help them. In turn, we believe this can create trust, simplicity, candor and confidence in the value we deliver.
Now that we’ve addressed the why behind this concept, let’s move on to the what—as in, what do we, as advisors, need to do to deliver value beyond the fee or commission we charge?
The answer? It starts with a P.
Planning: Cassa Wealth Management (CWM) believes this is one of the top drivers in delivering value to all our clients. We believe all engagements with clients need and must start with a financial plan. Period. We need and must know where ALL of your money is located, including views into insurance, wills, trusts, mortgages, etc. Not knowing runs the risk of taking the plan we have agreed upon with our client and turning it into something completely different. That’s why we must know where all of the money is located.
It’s also important during this process to gain a firm handle on an investor’s emotional, psychological and behavioral view of money. After all, how can we deliver advice and guidance if we don’t know what our client’s goals, dreams and aspirations are—what‘s important to them and what’s not? Every investor is different. We don’t treat them the same.
Prioritization: Once a plan is established, prioritization of your financial goals is the next step (one that’s often overlooked). Working together within the context of the financial plan, agreeing to the priorities of your financial goals is crucial as it provides a direction to focus on.
Often skipped at this stage—but not by Cassa Wealth Management—is the risk side of the planning process. At its core, this should be a discussion about (and prioritization of) risk protection, including life, disability and long-term care products. In short, we are always sure to ask, so we may deliver even better advice/value.
Portfolio: Once the plan has been built with the appropriate prioritization, aligning the portfolio to the goals, risk tolerance, behavioral, and emotional attachment to money is important. We use managed portfolios for most investors, when appropriate to do so, and use similar portfolios as a core strategy to build customized solutions for our suitable clients, households and families. In addition, CWM treats taxable portfolios differently than non-taxable ones. Why? In our view, asset location work is becoming one of the most under-appreciated traits of top wealth managers and a competitive advantage for Cassa Wealth Management.
Personalization: The internet, and technology in general, is about having a personal experience that focuses on how YOU want to receive information tailored to your preferences. The same is true for HUMAN relationships and interactions. As advisors, we need to understand how our clients want to work with us, and subsequently, tailor our services to match your preferences, NOT ours.
Asset allocation does not ensure a profit or protect against a loss.
CWM Value Proposition
Retirement Planning: Q&A
As a Wealth Management Advisor with Cassa Wealth Management, I’m asked a lot of challenging questions by prospective clients. Most of those questions reveal a sense of uncertainty about the process of planning for a financially independent financial future…a future that will, as more than one of my clients stated, “allow me and my family to live our lives on our terms.”
Helping people develop a plan that will attempt to ultimately enable them to live the lives they’ve envisioned is the core reason why I chose this profession. During my years as a wealth manager, my greatest satisfaction comes from seeing my clients achieve their goals. Along the way, we’ve developed strong relationships that are rooted in integrity, trust and respect.
Our role as a Wealth Manager is really pretty simple. We are here to provide leadership, knowledge and experience…to help our clients prioritize their personal and business goals, so they can confidently entrust the responsibility for their wealth management to our firm.
That’s why we’ve developed the motto, TRUST…PLAN…ACHIEVE...