When I develop a financial plan for you, my financial planning and personal investment recommendations will be:
- highly customized and comprehensive
- optimized for risk-adjusted long term investment performance
- focused on minimizing your costs and taxes over the long run.
I will help you to identify and to change any personal behaviors that are not consistent with a scientific, value-maximizing approach to your family's lifetime financial welfare.
During this cooperative process, you will gain valuable insights into your financial affairs that you never have had before. As part of this customized planning process, we will use VeriPlan, which is a highly sophisticated automated lifecycle financial modeling tool that I have developed and enhanced since 2003. Once customized with the details of your financial and investment affairs, VeriPlan will automatically project the impacts of various financial choices you could make over your lifetime.
In preparing your personalized financial plan, I will consider all of your income, expenses, debts, and assets. In this analysis, I will measure and project your lifetime human capital, cash, fixed income assets, equity assets, property, and your private business and other investment interests. I will take a broad, outsider’s view of your finances and will bring to your attention opportunities for optimization and concerns about risks that may need to be addressed.
When we have completed this interactive planning process, you will also receive you own copy of VeriPlan, which will be fully loaded with your personal financial data. To keep your personal financial plan in tune with your current needs over the years, if you want to, you can change anything in VeriPlan to test new ideas instantly and adjust your plan to reflect new information.
I will only charge fees directly to you for hourly services or for fixed fee planning deliverables. If you are not satisfied, you will not pay.
The average person wastes 1% to 2% of their total assets each and every year on unproductive financial and investment costs and on premature and inefficient realization of taxes. Many people waste even more through suboptimal practices, such as investment activism and performance chasing. I believe that one of my primary jobs as your financial advisor is to protect your wallet from unnecessary waste.
I can help you to navigate through the blizzard of financial hype and false claims. I can help you to learn how to buy financial products and services directly without paying costly, commissioned "middle-men." I can help you to eliminate the unjustifiable visible and hidden costs related to asset management, distribution, and over-activity that will bleed away value from your portfolio year-after-year.
Never. Ever. When an advisor takes money, services, or any other compensation from the financial industry, he is on a very steep ethical slope where your interests can slip rapidly away and be replaced by his or her personal financial interests. Never use financial advisors who are not unquestionably on the side of you and your family. The industry had invented too many ways to fleece you, while telling you they are doing you a favor. The best way for individuals to protect themselves and their families in an advisory relationship is just to say no to any form of third party advisor compensation. There are no free lunches for individuals, when it comes to financial adviser compensation. (See these advisor compensation articles on The Skilled Investor website: Payment of Financial Advisors and Investment Advisors )
Your money is your money, and my company seems to be one of the very few organizations in the financial services industry that understands that we have no right to put our hands in your wallet, just because we might be able to convince you to let us do so.
Often, personal investment affairs are closely linked to actively managed business enterprises. It is helpful to have an adviser who has “walked the talk” in business. I have 25+ years experience working with large corporations, venture funded start-ups, and non-profit organizations. I have managed most organizational functions either directly or as an executive. Therefore, in addition to my educational credentials (Stanford MBA, Brandeis MA, and M.I.T. BS), I bring a broad business perspective to your personal financial and investment planning process.
Lawrence Russell and Company
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