How do I select an advisor that will operate in my best interest?
Individual investors are bombarded with financial data and claims made by Financial Planners, Accountants, Financial Advisors and Insurance Agents. Often times, the financial recommendations made by asset management professionals are biased and made in their own financial interests as a result of paid commissions, nepotism, or affiliations. Biased product or services recommendations, which financially benefit a financial services professional over the client’s best interests are called conflicts of interests.
Traditional advisors receive commissions based on transactions, not investment performance. They focus on soliciting new clients, instead of servicing existing ones. Commission quotas taint objectivity and make investment changes questionable.
As a Registered Investment Advisor (RIA) firm, Victory Wealth Partners does not promote, solicit, or receive commissions on our financial services products or service. Instead, we operate upon a flat fee compensation structure, based on our client’s initial investment and continued growth. Fee-based compensation motivates advisors to grow client assets. As a result, we are free and committed to providing our clients with unbiased financial investment recommendations. Our clients are assured that we place their best interests over profit and operate in full transparency.
Best Practice Standards
Does the investment industry have Best Practice Standards?
The Foundation for Fiduciary Studies (fi360.com), the global authority on fiduciary responsibilities has identified 22 Best Practice Standards for managing trusts, foundations, endowments and company retirement plans. These standards have been fully endorsed by the American Institute of Certified Public Accountants (AICPA). Each standard is fully substantiated by legislation, case law and regulatory opinion letters.
Victory Wealth Partners has earned an official Investment Advisor Certification Validation from the Center for Fiduciary Excellence (CEFEX). CEFEX (Cefex.org) is the global financial industry standard of fiduciary audit and compliance review best practices.
In addition, Victory’s investment management team received formal industry training from The Center for Fiduciary Studies to master and implement a sound fiduciary investment process. Our senior management holds either an Accredited Investment Fiduciary (AIF®) or Accredited Investment Fiduciary Analyst (AIFA®) professional designation. These Best Practice Standards are the cornerstone of Victory Wealth Partners’s entire practice.
Financial Needs Analysis
How do you determine your long-term financial needs?
When it comes to financial planning, we recognize that every client is unique and deserves a personalized financial strategy, tailored to meet their fiscal needs. We carefully analyze your assets, liabilities, income, expenses and insurance to more clearly understand your current financial circumstances.
We then initiate a comprehensive client asset assessment and conduct various asset projections to gain insight as to what type of retirement income would be reasonable, given specific risk tolerances. We utilize a variety of industry financial tools and resources, including “eMoney®,” a state-of-the-art, financial analysis and projection software program that helps identify your fiscal “needs, wants and desires.” We then identify and develop an appropriate action plan to achieve your financial goals.
Does your advisor have a risk management strategy to protect your assets?
As Registered Investment Advisors, our primary objective is to safeguard our client’s assets to ensure lifetime income. Understanding your risk tolerance and establishing protocols in the event of potential economic fallout is essential to plan development.
We actively strive to minimize investment risk and volatility, while maximizing our client’s confidence as educated investors. Our risk management strategy is to diversify our client’s investments through asset allocation. We devise and implement investment models which focus on portfolio return based on our disciplined math-based investment selection and monitoring program.