Dave has never considered himself to be a salesperson. As such, he does not believe in, nor does he present solutions to clients that have fancy titles or technical terms but lack the substance to directly address their financial needs.  Even this website reflects this philosophy - a focus on useful and tangible content and not on fluff. He also believes in simple, straightforward answers to client questions. This industry is confusing enough. Clients shouldn't have to wade through a bunch of industry jargon or double-speak from their advisor to get to the crux of the information being given to them. His approach to every investment account is to construct the allocation based on the long-term goals of the client, all while managing the tax-implications and maximizing returns to their most efficient risk-adjusted level.  Straightforward, simple and highly-effective.  

Risk is another area that Dave focuses a lot of my attention on. There are many different types of risk and at least one form of it is present in any investment account, regardless of the holdings. However, he also believes in making "small" mistakes instead of "large" mistakes. He'd rather miss out on a small amount of additional return instead of stretching a client's risk-tolerance to a level that is outside of their long-term goals and taking the chance of losing a large amount of money, potentially putting their long-term goals at risk. He believe in taking calculated risks, but does not believe in chasing trends or fads that do not fit in with his client's long-term goals.

Unnecessary complexity in an investment account will only add to the fear of the unknown. As a result, the majority of Dave’s client's accounts hold only what he considers to be the most-appropriate solution to a need instead of also including second and third-tier options. While other advisors may employ this tactic to make it appear that a client is well diversified, Dave believes this only gives a false sense of security. His solutions focus on true balance within an account instead of holding several investment options that merely reflect one another. He also believes in employing investment solutions without any more complexity than is necessary. If given the option between two investment options, Dave will always choose the one that is more straight forward over the one that has unnecessary moving parts for the situation he is trying to solve.

Dave firmly believe in the advisor relationship. First, that means advisors are just that - someone who provides advice.  Because of that, he will never tell a client what to do. Rather, he will take the time to listen to their needs, wants and objectives and utilize that information to make suitable recommendations. However, the end decision is the clients. He strives to provide clients with the information they need and answers to all their questions so they are able to make an educated decision.

Second, Dave is primarily a fee-based advisor. That means that instead of paying a large up-front fee to utilize his services with the hope that they work well, clients usually pay him a percentage of their account value on an ongoing basis. This allows him the freedom to make recommendations that he believe are going to best benefit his clients and help them meet their objectives in the best possible way. Dave is directly incentivized to have each client’s account meet or exceed their objectives, putting Dave on the "same side of the table" as clients instead of having his personal financial situation at odds with the clients.

Finally, advice is something that is needed throughout a relationship, not just at the beginning. As such, Dace prides himself in proactive contact with clients at an interval and in a manner (in person or on the phone) that each individual client desires. If he is not helping clients reach their goals and guiding them along the way in the way they prefer, then he should not be their advisor, plain and simple.    

 

This website is intended for informational purposes only. Despite our efforts to be accurate, these pages may contain errors and information that is no longer current. The information published on this website is subject to change on a regular basis without notice. This website should not be regarded as a complete analysis of the subjects discussed.