Objectivity of a wealth manager is key to successful wealth preservation.
Trust in this wealth manager is key for a client to follow through on their wealth preservation goals.
Studies have proved that emotion is a very powerful detractor to wealth: Fear and greed are the two main culprits for investor returns almost always lagging stock market returns.
Successful wealth preservation can only take place when emotion is removed from the equation. This can’t happen if you are the “master” of your financial destiny. Instead, what is required is to have an objective wealth manager who, as the custodian of your wealth, can coach you in setting aside harmful investment practices.
Objectivity may be compromised when the advisor is incentivized by a commission-paying product provider to sell their product. Furthermore, being the client of a listed advisory firm does not guarantee that you will receive the objective advice you need: Company shareholders may be more interested in the bottom line than they are in you as a client and the quality of advice you receive. Nor is an advisor who is employed by a product provider always able to do what is best for you: He or she may be obligated to provide you with advice tailored around their own product offering.
Find an objective and trusted financial advisor is both crucial and difficult. Classic Private Wealth exists to answer this need.