Derive Wealth

Why Choose Derive Wealth?

We Take Extraordinary Measures To Make You Feel Comfortable

I like to say when it comes to your money, there is no dress rehearsal.  The financial decisions you make can have a lasting impact on your wealth.

Finding a trustworthy financial advisor to help make smarter decisions is no easy task.  The reason is simple:

Anyone can use the term financial advisor.

Shocking, right? I've seen insurance agents, CPA's, bank tellers, investment brokers, and even real estate agents use the designation. 

To truly determine if your financial advisor has your best interest at heart, look for the following characteristics.


FIDUCIARY

My Oath To Provide Recommendations In Your Best Interest

Fiduciary-Financial-Advisor.png


Fee-Due-She...What Does This Mean?
Good question.  You don't need any more financial jargon in your life.

But you do need a standard of care when it comes to the advice you need.  A fiduciary ensures just that.

Simply put, a fiduciary financial advisor is legally responsible for the advice they give.  They must, at all times, put your interest ahead of their own.

That means (hopefully) you will not be sold a product you don't need.  Or told to make changes in your investments that don't benefit you.  

Why Derive Wealth Took The Oath
Candidly, it takes the "grease" out of your relationship with us.

There is no churn and burn here.  No quick sell.  No can't miss opportunity or "guaranteed" returns.

Taking the fiduciary oath elevates the level of care from doing what is suitable for you to doing what is responsibly in your best interest.

 
“A Financial Advisor can provide advice that is suitable or advice that is responsible. Suitable advice starts with a product application. Responsible advice starts with a financial plan. “
 

What You Can Expect
When you work with a fiduciary financial advisor, you can expect the following benefits:

  1. The advice you receive will be based on a thorough analysis of your situation
  2. Your relationship will be based on getting you to your goals, not products to buy
  3. The recommendations you receive will be outlined in a comprehensive financial plan

FEE ONLY ADVICE

Feel Comfortable Knowing I Don't Sell Products or Receive Commissions

Fee Only Financial Advisor


Wait A Minute...Isn't This The Same As A Fiduciary?
Taking the fiduciary oath as an advisor is a great first step.  However it does not mean the advice you receive will be conflict free.

Conflicts arise, naturally, when there are incentives at play.  It has nothing to do with providing advice in your best interest.  It has everything to do with how your advisor chooses to deliver your advice.

 
“A Fiduciary Advisor can still work on commissions and sell products. A Fee Only Advisor removes these conflicts by abstaining from selling.”
 

A Deeper Level of Responsibility
It is easy to say a certain product, such as a life insurance policy, is in your best interest. But since there are commissions that go along with selling the policy, how do you know your financial advisor is not advising you to buy a more expensive life insurance policy that provides a higher commission?

You don't.  Hence lies the conflict of interest. 

You hope your advisor will not just offer products where they get the most commission.  But why take the chance?

No Buyer's Remorse
Since fee only financial advisors get paid based on a flat fee or percentage fee basis, they can be objective with the products you need and recommendations they provide.

When you work with a fiduciary, fee only financial advisor, you have elevated your standard of care:

  1. The advice you receive will not be based on purchasing any products
  2. You will know the fees you are charged and how they are paid
  3. If you do need products, your advisor will be objective in recommending the right one

CERTIFIED FINANCIAL PLANNER

A Dedication Towards Continuous Learning & Improvement

Certified Financial Planner

Another Plaque On The Wall?
At first glance, that may be all you see.  

Digging deeper, the Certified Financial Planner designation demonstrates your financial advisor has completed the extensive education and experience requirements to meet the complexities of your financial situation.

I'll save you the exam details, but on average it takes approximately 1-2 years to be eligible to take the examination.

Then you have to pass.

Making this sacrifice means you take your job serious.  It is the financial planning industry's way to separate those who are trying to be stewards of the profession versus those who are just trying to make a quick buck.

You can learn more about why the CFP designation matters.

 
“Anyone can use the term Financial Advisor. But the CFP designation has to be earned.”
 

Systematic Approach
When you engage with Derive Wealth, your experience follows the Certified Financial Planner Financial Planning Process to build and develop your financial plan. 

  1. Establish A Relationship
  2. Gather Data & Develop Your Goals
  3. Analyze & Evaluate Your Financial Status
  4. Review Recommendations
  5. Establish Your Course of Action
  6. Monitor & Benchmark Your Progress

Each financial plan I design follows these guidelines to ensure a thorough analysis and custom recommendations.