Let’s face it: The financial services industry is often overly complex to someone who isn’t an industry insider. That’s even true as it relates to working with a financial advisor. I want to change that by explaining the three different companies that assist our clients.
First and most importantly, our clients work and interact with our firm, Center for Wealth Management, as we create, develop, implement, and monitor their financial plans.
Yet there are actually two other companies that work with us behind the scenes to fully achieve the financial goals of our clients.
Specifically, we have hired Commonwealth Financial Network and National Financial Services to serve different functions and fulfill our duty to our clients.
Before we describe what those two companies do (more on that below), the reason why we hired them is that we are firm believers in using a team-based approach. As the African proverb says, “If you want to go fast, go alone. If you want to go far, go together.”
That’s how we operate at CWM. Working with other experts in the financial services industry allows us to help our clients have the best experience possible.
Our Firm: Center for Wealth Management
Our firm, Center for Wealth Management, is the main point of contact for all our clients. Our financial advisors (Robert Moore, Justin Williamson, and Jeffrey Steele) work with clients one-on-one to help them make their financial dreams a reality.
We strategize with clients on all areas of their financial life, including investments, retirement planning, estate planning, and even business planning. Our work is comprehensive because we know that there’s more to life than just managing your wealth. We work to help our clients live out the very best vision they have for their life.
To assist our advisors and our clients, we have a support team of three people who ensure everything runs smoothly in the office and our clients are getting what they need.
Our Support System: Commonwealth Financial Network
While our clients may not interact with them, we have a great team helping us with the back-end operations of our business. The technical term for their role is known as a broker-dealer, and we have chosen Commonwealth Financial Network as ours.
Since the financial services industry is widely regulated—and quite complex—they are able to assist our firm in offering the best experience for our clients, including a wide range of services. For instance, they built a leading-class technology platform for us to use in our daily operations at CWM, making our systems smoother and allowing us to focus more time and attention on our clients.
When we have client questions that require creative and detailed answers, CFN has subject matter experts whose job is dedicated to answering questions from advisors and their clients.
While we have over 60 years of experience on our advisor team, it always helps to have additional reinforcements to solidify the best plan of action for our clients.
Our Custodian: National Financial Services
Finally, our custodian plays a pivotal role in helping our clients secure their financial future. In plain English, a custodian is a firm that can receive client assets so that our advisors can invest them on your behalf.
For instance, when our clients want to roll over their 401(k) from a former employer, they would request a check to be sent to a custodian so that they could deposit the money in their account. After that is complete, the custodian helps process transactions (like buying or selling investments), produce monthly statements, and maintain the safekeeping of assets.
The last point is especially important: a reputable custodian can help mitigate the risks of theft, scams, misappropriation, and/or loss of your assets.
We’ve chosen National Financial Services as our custodian, and they’ve done a great job in fulfilling their duty and their promise to assist our clients.
Our Team Can Help
If you would like to utilize our team-based approach so you can make your financial dreams a reality, we’d be happy to talk. You can call (248) 220-4321 or email email@example.com. You can also schedule a meeting by visiting www.calendly.com/cwmrob/initial.
Robert Moore is senior partner, financial planner, investment advisor, and co-owner of Center for Wealth Management, an independent, fee-based wealth management company based in Troy, MI. With more than 15 years of experience, Rob provides customized advice and solutions that are in the clients’ best interest. He strives to always go above and beyond his clients’ expectations, helping them retire with more security than they had before, and invest their time and energy in what’s most important to them. Rob specializes in working with DTE Energy employees, helping them maximize their benefits so they can reduce taxes, prepare for retirement, and protect their families through a comprehensive planning process. Rob graduated from Michigan State University and holds the CERTIFIED FINANCIAL PLANNER™ and Chartered Financial Consultant® (ChFC®) certifications.
Rob is known as a diehard family man who enjoys spending time with his beautiful wife, Jill, his daughter, Brookelyn, and his son, Brayden. When he’s not working, you can find him playing basketball once a week, squeezing in a round of golf, and watching college football and basketball with friends and family. He is passionate about enriching the lives of others through his church involvement and service at a community addiction program. Learn more about Rob by connecting with him on LinkedIn.