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Milwaukee Five Star award winners

How to Find a Fiduciary Financial Advisor

"Doing the right thing is always right."
- Rob Du Charme

The right financial advisor (for you!) is out there...here's how to find them.

Lots of people are talking about how to find the right financial advisor for you and we encourage every individual we meet to do a little bit of research before committing to work with anyone. Here are a few questions you'll want to add to your list when meeting potential advisors: 

1. Are you a Fiduciary? This is our #1 concern for our clients - not all advisors have made a commitment to work in their clients' best interest at all times, which means some are more concerned about selling a product and gaining a commission, which leads us to...

2. What sort of compensation do you receive? Advisors who work exclusively on commissions often have less altruistic reasons for pushing a certain product if they're getting a large commission on it. Advisors who also work under a fee compensation structure have less incentive to sell you something not in your best interest, and more reasons to consider your true needs. 

3. What credentials do you have? Only those financial advisors with a CFP, CPA/PFS credential or Series 65/66 license are bound by a fiduciary requirement; on the other hand, Registered Representatives or Series 6/7 licensed advisors are only required to make recommendations that are "suitable" to your circumstance (which may still allow them to sell you a product that you don't need in order to obtain a larger commission).

4. Do you have a minimum amount of money to invest? Many advisors only want to work with accounts at a certain level ($500k and up, for instance). Not every individual or family has that kind of money to invest, which is why we have extremely low minimums to get you started ($1!) 

5. Do a background check. No, this isn't a question, but it is something you can easily do to see if your potential advisor has any history that doesn't sit well with you or bode well for your finances. You can use the FINRA Broker Check or the SEC's Investment Advisor Public Disclosure site for background information that you, as a potential client, deserve to know up front. 

Learn more about our advisors on at www.ducharmefinancialgroup.com.

 

Click to access BrokerCheck

© 2018 Robert V. Du Charme All Rights Reserved

Advisory services offered through Global View Capital Management, Ltd. (GVCM). GVCM is a SEC Registered Investment Advisory Firm headquartered at N14 W23833 Stone Ridge Dr-Suite 350, Waukesha, WI 53188. Du Charme Financial Group is affiliated with and a branch office of Global View Capital Advisors. Supervising office 262-650-1030.

*Winners appearing on this page do not pay a fee to be considered or to win the Five Star Award. Professionals with a digital profile have paid a promotional fee.
The Five Star Wealth Manager award, administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Actively licensed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their client’s assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com. 1,061 Milwaukee area wealth managers were considered for the award; 224 (21 percent of candidates) were named 2019 Five Star Wealth Managers. 2018: 1,461 considered, 220 winners; 2017: 1,148 considered, 237 winners.; 2016: 923 considered, 370 winners; 2015: 1,329 considered, 430 winners; 2014: 1,744 considered, 397 winners; 2013: 2,672 considered, 524 winners; 2012: 1,291 considered, 303 winners.