Occasionally, someone will make a comment that reminds us how much better we could be at explaining our resources, capability, and generally “tooting our own horn!” Well none of us know what we don’t know.
Do you remember the “Dream Team?” This was the 1992 United States Olympic basketball team many journalists dubbed the greatest sports team ever assembled. Those individual players were on great teams, but the Dream Team was a compilation of the greatest “parts” of various great teams.
This analogy comes to mind when someone, unfamiliar with how independent firms like Poterack Capital Advisory (PCA) work, has the opinion we don’t have the resources large “household name” firms have. We appreciate why someone may think this but, knowing what we know, it is completely disconnected from reality.
At Poterack Capital Advisory, our fiduciary advisors seek the best partners in every area of running an Advisory firm. We don’t attempt to handle every function internally, therefore, we are nimble if service providers are not meeting our high standards. Here are a couple examples; We don’t have a technology person on our internal staff, which means our technology “person” doesn’t get sick, skip work or go on vacation! We employ high speed trading and other capabilities through T.D. Ameritrade that is competitive with any firm in the industry. However, if we are not well served by them, we can fire T.D. Ameritrade and work with Schwab, Fidelity or whomever that will serve our clients better.
Do you think Edward Jones would fire themselves? Would Merrill Lynch fire Merrill Lynch if they had a department unworthy of the Dream Team? At Poterack Capital Advisory, we choose our partners and hold them accountable to the needs and wants of our growing clientele.
Our fiduciary approach helps clients make financial decisions in their best interests. Depending on what a client needs, we work on an hourly basis, proactively managing investments on a fee basis (no commissions), and comprehensive financial planning is our “wheelhouse.”
For over two years now, we’ve been providing prospective clients with an Initial Case Analysis (ICA) at no cost. This is a written review of your current investments, tax planning, wills/trusts, insurance and employment benefits. This analysis uncovers fees and costs some people are unaware of and points out conflicts of interest that exist. This analysis provides significant value to the prospective client without having to buy products. The ICA provides a taste of what PCA may do for you, but to get the “recipes”, we discuss next steps, again without having to buy products! Choosing a client is important to us. Choosing an Advisory firm is important to you.
Our firm, using T.D. Ameritrade, as a third party custodian, provides clients with the services, transparency, and protection against fraud and identity theft, and we never accept constructive receipt of any funds. Therefore, your money is protected consistent with industry best practices. On our investment platform, our clients never pay any transactions costs or commissions. Our clients do not pay any fees to T.D. Ameritrade. T.D. Ameritrade provides our clients with a secure website, account statements, tax reporting, research and various other services at a high level.
We have access to investment solutions and 3rd party money managers not available to the general public. Our Registered Investment Advisor Firm, Capital Asset Advisory Services, LLC (CAAS) manages over $1.5 billion through advisors nationwide (7/31/2018). Ryan is on their Investment Policy Committee, which meets quarterly to review investment performance, recommend portfolio adjustments, and assure our client’s investment needs are being handled consistent with our Fiduciary standard.
We are a comprehensive financial firm, so yes, we provide insurance brokerage solutions for Life and Long-term care through when appropriate. We have access to approximately 35 highly rated insurance carriers providing our clients with competitive pricing and our counsel to assure you are not wasting your money! We work with our external team at American Financial, based in Minneapolis, MN, in discussing insurance case design for any scenario our clients may have.
We have strategic partners that bring tremendous resources in technology, investment research, operational efficiency, tax expertise, in addition to our financial planning expertise internally at PCA. We also understand that nothing happens without real conversations with live and caring people! We invest significantly in our PCA Client Experience. Our internal team at Poterack Capital Advisory is highly focused on effective communication. If you and our team have an equal understanding of what serves your best interests, then we have awesome resources we can bring to your financial, tax and estate planning situation.
You may want to forward this to a friend or colleague the next time they say, “I work with a large firm called Big, Bloated & Impersonal” (BBI). You know what they don’t know!