Questions to Ask When Selecting a Wealth Management Advisor
What are your credentials?
Emile P. Oestriecher, III and Anne Oestriecher are both Certified Public Accountants (since 1968 and 1986, respectively), licensed in Louisiana. They are also both licensed as Investment Advisory Representatives (Series 66), Registered Representatives (Series 6 & 7) and have Life & Health Insurance licenses. They are both initially licensed in Louisiana, and have reciprocal licenses in several states. Anne is also a Certified Financial Planner professional..
What are your core beliefs and process on developing an investment plan?
First, we believe we help clients manage risk, not money—it’s important to us that each of our clients understands the distinction. Next, we believe an investment plan does not end upon the implementation, in fact, that step is just the beginning. An investment plan considers the following variables: the primary and possible secondary objectives of the investment, the client’s willingness to accept risk, the need for current income, the time horizon over which the assets will be managed, and the tax implications of the investment plan. As these variables can and most certainly will change over time, the plan will be revisited regularly. We will “remodel” if something should change in our client’s life, as well as periodically rebalance to allow the portfolio to maintain its asset allocation integrity over time. We’ve also found that our team’s appreciation and understanding of taxes is a great asset when developing investment plans for our clients.
What are your core beliefs on investing other people’s money?
We have found an appropriate guiding principle of investing other people’s money is the fundamental principle for professional money management, stated by Judge Samuel Putnam in 1830: "Those with responsibility to invest money for others should act with prudence, discretion, intelligence, and regard for the safety of capital as well as income." In addition to this guiding principle, another core belief is to know each of our clients as completely as possible in order to make appropriate recommendations.
What is your area of specialty?
We focus the assets, experience and resources of our team towards the comprehensive financial needs of the small to mid-size business owner as well as individuals and families of all income brackets. We believe that serving as the primary financial advisor for individuals and families allows us to offer comprehensive solutions to help allow our clients to reach their financial goals.
Who is Avantax Wealth Management? Why would I entrust my money to an “independent” advisor?
Avantax Wealth ManagementSM (formerly known as HD Vest Investment Services) is a financial services company that specializes in providing financial services, primarily through tax and accounting professionals. It is a firm for “independent” advisors. This simply means that we are not employees of Avantax. As such, we’ve found that our team is free to set our own course to serve the clients we choose to serve using the products of our choice, rather than being limited to the products offered by a single company.
What is the process you will take me and my family through over the next six months?
We will begin a journey together in the next few months. Our primary mission will be to fully understand you and your family. The most important step is the first one: we’ll determine together if our team and your family are a good match together. If we find we are a good fit, we’ll follow a disciplined process to start our journey. This process includes data gathering, (which involves gaining an understanding of your goals and concerns, including tolerance for risk); analysis of that data and preparation of a plan of action; a discussion of the plan to ensure that your concerns have been addressed; implementing the plan together; and following up over time to ensure that we are continuing to address your needs.
How will using your advice benefit me and my family?
By having one advisor overseeing all aspects of your financial future, it is much less likely that an important facet of wealth management will be missed. Just as a primary care physician oversees your overall medical advice, we can oversee your financial well-being, bringing in specialists from other fields (such as attorneys) when needed. We take a disciplined, comprehensive approach to Wealth Management, with ongoing communication about your goals, needs and concerns. Hopefully, this will give you peace of mind that all significant risks are being addressed.
What should I expect to pay for the services and value you will bring to me and my family?
Depending on you and your family’s goals and needs, our team will be compensated in one or a combination of ways: commissions based on products used to implement your plan, an annual percentage of fees based on assets managed, or possibly a flat fee based on work done to prepare a plan. How our team is compensated for our experience, time and work done is very important for each client to understand. At the point that we know how to assist your family, we will fully disclose our compensation and answer any questions you may have before you are obligated in any manner.