Meaningful Differences
Meaningful Differences
Due diligence is difficult. We hope this table helps you do a great job, so you get the most value from your advisor relationship. The two tables compare and contrast advisory firms and advisors, respectively.
| Typical Advisory Firm | Journey Wealth Partners | |
| Compensation | Fee-Based, Commissions | Fee-Only |
| Sources of Revenue | Fund Companies, Insurance Companies, Product Sales | Client Only |
| Culture | Sales | Service |
| Structure | Each Advisor has “own book” | Collaborative Team |
| Investing Strategy | Active | Evidence-based |
| Wealth Management | Primarily Investment Management | Comprehensive Financial Planning and Integrated Investment Management |
| Investment Control | Discretionary | Non-Discretionary or Discretionary, with an Investment Policy Statement |
| Average Clients per advisor | 300 | 50 |
| Regulatory Requirement | Suitability Standard | Fiduciary Duty |
| Compensation | Commission & Bonus based on Assets Under Management | Salary & Bonus based on Client Satisfaction and Planning & Investing Expertise |
| Advisor Priorities | Sales Quota | Client Retention |
| Industry Exams | Series 7 (Required for Registered Representatives to earn commissions) | CERTIFIED FINANCIAL PLANNER™ (One of the industry exams to work for a Registered Investment Advisory Firm and must adhere to Fiduciary Oath) |
| Certifications | None or Alphabet Soup | CERTIFIED FINANCIAL PLANNER™ |
| Measure of Success | Assets Under Management through Sales and Investment Performance | Client Goals achieved through Implementing plans and strategies |
Read this illuminating post from the Above the Market blog, A Hierarchy of Advisor Value, to learn why the differences above are meaningful for you. Be sure to read the closing paragraph.
Ask us for a competitive analysis of risk, return, fees and all-in costs and benefits.