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Who is Weber Wealth Advisors?
Weber Wealth Advisors is a marketing name that we use for branding, and to differentiate ourselves from other Advisors affiliated with Woodbury Financial Services.
Who is Woodbury Financial Services, Inc.?
Woodbury Financial is our Broker Dealer, and they assist us with compliance, provide back office support, and our licenses are also held under Woodbury Financial. Woodbury Financial is part of one of the largest networks of independent wealth management firms in the United States, with more than 8,000 affiliated Advisors.
Who is Pershing?
This is strictly a Custodian where the assets and investments are held. Pershing, and its global affiliates are the Custodian for over $2.0 trillion* in global client assets.
*Pershing LLC and its global affiliates, March 31, 2021
What is a money manager?
Money manager are firms we hire for the day to day management of our portfolios. They spend their time focusing on successfully managing portfolio strategies. We might hire Money Manager A to buy large cap value stocks, Money Manager B to buy bonds, and Money Manager C to buy international small stocks. These include firms like American Funds, Franklin, Putnam, and Fidelity to name a few.
How do we get paid?
An Advisor earns money one of two ways: either through fees or commissions.
For many years the typical way to engage with people in our industry was to sell a product and earn a commission. But there was a problem with this approach. Many people were not looking for financial products to buy, but they were looking for advice and strategies about what to do. The problem was that most Financial Advisors only made money one way—when they sold you a financial product. So inherently there was, and in many cases still is, a competing agenda within the relationship. You want advice and strategies, and the Advisor is just trying to sell you something so they can make a commission.
In a fee-based account we are Financial Professionals who are paid to provide investment advice and management to our clients for a % of assets we manage. You hire us for management of your portfolio taking into account goals and cash needs. We are a partner to help you navigate complex financial situations, answer questions as they come up, and may provide continuous comprehensive financial planning. This can give you some peace of mind knowing a Professional is monitoring the market and your portfolio and making needed changes. In exchange we charge a fee, which varies but 1% is a good estimate. We get most of our clients from recommendations and introductions.
Let us also make note of something here. When/if you chose to do further business with us, it is our job to place your investments or insurance programs into the financial vehicles that are right for you. Sometimes, vehicles are fee-based and require us to have a special license to utilize them. Sometimes, vehicles are commission-based and don't have the option to pay us in a fee-based way. Not all financial vehicles are available to Advisors who are only fee-based or who are only commission-based. But they are all available to planners like us who have a hybrid model.
A hybrid model means that if you are engaging a Planner to actually manage your investment or insurance they can make recommendations from either side—fee-based or commission-based. As a Hybrid Advisor, we have access to a broader array of financial vehicles and therefore can make a more targeted recommendation about what is right for you. We make sure to disclose how we are compensated for each and every financial vehicle that we recommend.
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