Financial Advising and the Blue Chip Partners Difference
Proven investment strategies and blue chip portfolio management for corporate executives, high net worth individuals, and nearly retired professionals.
When you begin working, financial advice is as simple as "spend less than you make" and "begin saving at an early age." As you progress through your career and accumulate wealth, your financial situation becomes increasingly complex. At a certain point, you conclude that you could benefit from working with someone with specialized expertise. Your initial motivation for seeking help often relates to investments. This is where the big Wall Street brokerage firms focus. They offer a multitude of investment strategies that are designed to diversify your portfolio. In reality, your financial needs are much more complex than only managing your investments.
Blue Chip Partners recognizes the limitations of the traditional Wall Street brokerage firm and focuses on providing a more comprehensive level of financial advice. We feel the level of advice that we can provide is directly related to how well we understand your personal circumstances.
The advisors at Blue Chip Partners have extensive experience and credentials that provide the foundation for providing comprehensive wealth management. Blue Chip’s depth is illustrated with our deep bench of professionals:
Seven Certified Financial Planner practitioners ( CFP®s )
Two Chartered Financial Analyst ( CFAs )
Two Certified Public Accountants ( CPAs )
Two Chartered Market Technicians ( CMTs )
One Licensed Attorney
We ask many personal questions and listen attentively to your specific concerns. Our goal is to build life-long relationships with each of our clients. Our relationship begins with a thorough analysis of your current situation. We ask potential clients to bring the following documents to our initial meeting:
The initial phase of Wealth Planning is to get to know you personally and undertake a comprehensive review of your current financial situation. Our goal is to identify any gaps in your circumstances and make personalized recommendations to address these concerns. For example, we have identified many tax-related errors, improper asset titling, exercising the least optimum block of corporate stock options, the naming of ex-spouses and ex-business partners as beneficiaries and out-of-date estate plans that do not address changed family circumstances.
Each family has unique concerns. While we have a wide range of experience, we have special expertise as it relates to working with corporate executives with large holdings of company stock, professionals, and those nearing or in retirement. We generally prepare your own personal financial statements, including a statement of cash flow, income tax projection, and balance sheet. We model these statements over long periods of time to determine if you are on track for achieving your long-term objectives.
Our relationship only begins with the initial comprehensive review. The understanding gained places us in a valuable position to provide informed advice as your family’s personal circumstances evolve.
A financial planner may or may not work as a Registered Investment Advisor, registered with a state-level or national-level (Securities and Exchange Commission, “SEC”) regulator. A financial advisor working as a Registered Investment Advisor is often called an “Investment Advisor.” An Investment Advisor is paid directly by their clients and, as such, is legally required to act in their client’s best interests. Another term for this is “fiduciary.” Being a fiduciary requires the advisor to:
Lesser standards only require that an advisor recommend what is “suitable” for clients. In these arrangements, commissions are often received by the advisor for the sale of a product to a client. In our view, “suitable” is vague and subjective, and the receipt of commissions introduces a conflict that may compromise the advisor in providing the best advice for the client. The fiduciary standard is the highest level of care that is required by an advisor in their service to clients.
This fiduciary standard is what we here at Blue Chip Partners always uphold for our clients.