Welcome to Drive Wealth Management
When it comes to finding someone to guide you through your financial decisions there are lots of options out there. Whether it’s a private banker, your CPA firm, an insurance agent or independent wealth advisor, it can be difficult to determine who is best suited to be your financial partner. We at Drive Wealth Management feel we are best prepared for the following reasons.
We Are Fiduciaries
Registered Investment Advisor
As a Registered Investment Advisor, we act as a fiduciary for our clients. To be a fiduciary means to have not only an ethical but also a legal obligation to act in your best interest. Often, representatives of large broker/dealers and insurance agents are not held to this standard.
Certified Financial Planners
In addition, we require all of our advisors to be Certified Financial Planners (CFP®). In order to obtain this certification, our advisors must achieve the following:
Must complete a comprehensive course of study that has been approved by the CFP® board.
Must pass the CFP® Certification Exam, which tests their abilities to apply financial planning knowledge in real life situations.
Must have several years of financial planning experience prior to becoming a CFP®.
Uphold the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence of a CFP®.
We Are Independent
Because we are independent, we are not bound or economically motivated to use investment solutions through only one institution or platform. Our only motivation is to select investment solutions that have a proven track record of success, low fee costs, and adequately meet the objectives of our clients.
We Are Comprehensive
We provide comprehensive financial planning. This means we tie together estate, business, risk, insurance, retirement, tax, investment and charitable planning along with family goals and ambitions into one cohesive and integrated financial blueprint. We provide you with access to our Financial Dashboard which allows you track your assets and view the plans we have made online. In addition, we meet with you at least once per year to review your financial plan and make necessary adjustments. Each quarter we will send you a performance report that shows how well you are doing relative to the general market. This allows you to see the progress you are making in your investment goals.
The Power of True Diversification
We believe that one of the keys to successful investing is diversification. Studies have shown that the majority of investors’ portfolios consist of only equities, fixed income, publicly traded real estate, and cash.
We believe that investing in equities and fixed income alone isn’t enough to be truly diversified. We construct portfolios for our clients that include asset classes underutilized in the marketplace, such as private real estate, private credit, private equity, other real assets, and absolute return strategies. This allows us to provide a fully diversified portfolio to clients, well equipped to combat the numerous types of risks that pose threats to the preservation and growth of our clients’ money.
The Use of Alternative Investments
The benefits of adding alternative asset classes to a traditional equity and fixed income portfolio include:
- The returns from alternatives such as real assets and absolute return are driven by factors different from stocks and bonds. Adding these investments to a portfolio decreases one’s dependence on traditional marketable securities.
- True diversification requires owning assets that respond differently to the fundamental forces that drive markets.
- Enhanced Return Potential
- Alternatives, such as private equity, while dependent on many of the same factors as the stock market the potential to make dramatic growth contributions to an overall portfolio.
- Risk Adjusted Returns
- Alternative investments are generally less liquid than marketable securities.
- Historically investors willing to accept less liquidity in their portfolios have had increased chances of earning higher risk-adjusted returns. Investors willing to embrace less liquid alternatives have the opportunity to benefit.
In illiquid markets, active management can potentially produce sizable rewards. The same is not true in the public markets.
We Are Fee-Only Advisors
We are transparent, competitive and practical in the fees that we charge.
We are a “fee only” advisor, meaning we never charge commissions for the sale or purchasing of investments.
- We charge in the following ways depending on the preference of the client:
- Advisory Fee: An annual percent of the total assets that we manage, charged on a quarterly basis.
- Planning Fee: An hourly rate to meet with our financial advisors to construct and develop a plan on your behalf.
- We do not earn more or less money for investing client’s portfolios into any specific fund or investment nor do we accept any incentive compensation from fund managers.
We feel the fee-based model naturally incentivizes us to preserve and grow your portfolio.
We Care About Relationships
We listen to our clients to identify their needs, goals, and fears. We use this information as the foundation for constructing your personal financial plan. We recognize that life is consistently changing, resulting in the need for regular financial monitoring and review.
As a client of Drive Wealth Management, you will be treated as part of the family. We value the meaningful relationships we have with those we serve. We recognize that our clients are actual people with families, hobbies, interests, accomplishments and trials. While money is an important part of everyone’s life we understand that a life consists of so much more than just money. The relationship and understanding we share with our clients is part of our firm’s purpose, driving us to do what we do.
Our Commitment To You:
When it comes to financial planning and the investment of your money, we understand that trust in your advisor is paramount. Everything we’ve previously discussed boils down to validating this trust. In summary, we promise to:
- Act in your best interest when providing advice and service and act in a fiduciary capacity
- Build financial plans and investment strategies around your articulated goals, ambitions, and needs
- Treat you with the same care and consideration as if you were family
- Construct an investment strategy around true diversification and access to high-quality assets
- Be upfront, honest and competitive regarding any and all fees we charge