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Conversation & Fresh Perspective

“It’s Tax Day and I haven’t heard from my advisor since Thanksgiving.”

When working with a financial advisor, you deserve to be treated with the utmost respect.

If you haven’t heard from your advisor in a while, there may be several contributing reasons. The financial industry has changed dramatically in the last twenty years and it isn’t slowing down. Access to information is increasing the volatility of the global markets. Federal, state and industry regulations and firm compliance requirements continue to grow exponentially. The increasing complexities of the financial services industry require greater efficiency and careful navigation.  Like the healthcare industry, the shift we are witnessing in financial services threatens to drive a wedge between advisors and their clients. The typical advisor must navigate this changing environment and increased client expectations daily. This requires a commitment to professional growth and an investment in the personnel and processes necessary to achieve client expectations.

 

At Gaskin Asset Management, we are on this journey with our clients for the long term and work hard to stay in front of this ever changing industry.

Our team is intently focused on earning the trust that has been placed in us by our clients. We believe this requires a steadfast commitment to goals-based performance and proactive, regular communication. In response to the growing industry complexities and client needs, we invest heavily in highly qualified people and continue to improve upon our internal processes. Our team is comprised of self-motivated professionals with the education, experience, temperament and strengths to fulfill specific functions necessary to serve our clients. Like most small businesses, we each wear multiple hats and share responsibilities. However, each team member also focuses on a specific, important client role for which he or she is uniquely qualified such as portfolio management, proactive client support, administrative client services, strategic planning, portfolio reviews and meetings. We meet many of today’s complexities by embracing technology, welcoming transparency and seek to add value through efficient and effective custom-designed strategies for our clients. Additionally, our team embraces process based accountability to client communication ensuring that our advisory clients are routinely and regularly contacted by members of our team.

If you feel that you aren’t receiving the service that you deserve, that your current strategy is not helping you achieve your goals or if you would simply like a fresh set of eyes to review your portfolio and cost structure, we would welcome the opportunity to have a conversation with you.

A Case Study

Richard volunteers at a local non-profit with one of our team members. He’s been a friend for a little over a year and began a casual conversation one afternoon about his desire to retire in roughly five years. We scheduled a conversation over coffee to discuss his current retirement plan and what he’d been doing up until this point to prepare. Earlier in his career, he rolled over his retirement account to his current financial advisor and few changes had been made since then. In our initial conversation, we discussed some of the details of his current portfolio and discovered that he was allocated based on an assumed risk tolerance associated with his target retirement age. Once we clarified his retirement goals and actual risk tolerance, we found that his portfolio was not efficiently allocated to achieve his goals within his risk parameters. We found inefficiencies in the portfolio, such as security overlaps in some of the underlying investments, as well as unnecessary fees that were eating into his total return. We recommended that Richard work with us to develop a comprehensive investment strategy that would more closely reflect his true risk tolerance and stated short-term objectives and long-term goals. We also presented a more efficient method for portfolio management which included a strategy for systematic reviews.

This is a hypothetical example for illustration purpose only and does not represent an actual client experience.

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