‘Do I Need a Wealth Manager?’ How to Find a Trustworthy Wealth Manager – PRNewswire

‘Do I Need a Wealth Manager?’ How to Find a Trustworthy Wealth Manager – PRNewswire

NEW YORK, Aug. 11, 2020 /PRNewswire/ — A trustworthy wealth manager can make the difference between simply being wealthy and empowering one’s relationship with one’s wealth. By taking on the responsibility of managing a person’s assets and finances, a skilled wealth manager, like those in the Zoe Financial network, lifts the burden of having to stress about investment volatility, high taxes, and retirement and estate planning. That said, when thinking about how to find a wealth manager, keep in mind that not all wealth managers will be trustworthy or “fiduciary“.

Considering the wealth management industry has been dominated by registered independent advisors (RIA) with misaligned incentives, it’s no surprise that finding a trustworthy wealth manager is particularly challenging. Upon conducting a thorough investigation of the Securities and Exchange Commission (SEC) RIA Reports, as well as the SEC ADV form and numerous academic papers,Zoe Financial’s independent research found that of 26,809 independent advisors, only 6,845 were U.S.-based and SEC-registered. That number removed mutual and hedge funds, retirement consultants, automated Robo-advisors, and third-party asset managers, as those all have potentially
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