The Top 10 Questions You Should be Asking Your Advisor
The Paladin Registry is a great site to review if you’re looking for an investment advisor. Jack Waymire, author of “Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor” created this website which includes great resources on what to look for when selecting a Financial Advisor.
I’ve taken and answered his “Top 10 Questions for Advisors”.
Top 10 Questions for Advisors
~Excerpted From Paladin Registry
1. Are you a Registered Investment Advisor (RIA) or an Investment Advisor Representative (IAR)?
AMDG Financial is a Registered Investment Advisor with the State of Michigan and Wayne Titus is an IAR for his firm, AMDG Financial.
2. Do you acknowledge you are a fiduciary when you provide financial services?
Yes. When the firm started in 2002, Wayne’s vision for AMDG Financial was to serve their clients by placing client needs first. Since then, there has been a great deal of movement in the financial marketplace toward fiduciary advisors.
AMDG Financial has implemented internal business processes that follow Global Fiduciary Standards of Excellence as defined by the Center for Fiduciary Studies, in Pittsburgh, PA (http://www.fi360.com) and the Centre for Fiduciary Excellence, in Toronto, Ontario (http://www.cefex.org). AMDG Financial has completed the first phase of a process of obtaining certification from CEFEX as to the implementation of these standards, which we should receive shortly.
Wayne is also an Accredited Investment Fiduciary Analyst®. Not only has he implemented fiduciary processes for his firm, but with this certification, he can perform fiduciary reviews for Investment Stewards, other Investment Advisors or Investment Money Managers.
3. Are you willing to provide full written disclosure for your credentials, ethics, business practices, and wealth management services?
Yes. Attached is AMDG Financial’s ADV, which describes the details of the services we offer. It is my goal to provide ethical services and to maintain a high level of professional business practices and to always put my client’s interest above my own.
I am also a Certified Public Accountant, which further indicates my dedication to a high standard of ethical business practices.
4. How many years of financial experience do you have?
I have been providing investment and financial services through my own financial firm for over five years. Prior to this, I was a Senior Manager at PricewaterhouseCoopers for six and a half years and a Manager at Ernst & Young for four years. Please refer to the attached ADV for more information.
5. What is your educational background?
Graduated with a Bachelor of Arts in Business Administration from Grove City College.
Graduated with a Bachelor of Science in Accounting from the University of South Florida.
Additionally, I maintain and attend annual continuing professional education credits which greatly exceed the requirements for my profession.
6. Do you hold any professional certifications or designations?
Certified Public Account with a Personal Financial Specialist (CPA/PFS)
Certified Information Systems Auditor (CISA)
Accredited Investment Fiduciary Analyst® (AIFA)
7. Do you have any disclosures on your NASD or insurance compliance records?
No. This can be confirmed by going to http://www.nasd.org, then doing a search through our CRD number, which is 119569.
8. Do you have any disclosures on your criminal record?
No.
9. How are you compensated for your services?
AMDG Financial is a Fee-Only advisory firm. We do NOT accept commission or sell any products as we feel this is a conflict-of-interest.
The annual fee for Investment Management Services is charged as a percentage of assets under management, and is inclusive of ALL financial and investment advice as well as integration with tax strategy (does not include tax preparation). See our Form ADV for further information.
10. Are you willing to provide full disclosure in writing for any potential conflicts of interest that may impact the performance, risk exposure, or expenses of my assets?
Yes. Though we feel that we will never have a conflict of interest putting our client’s interest first, should there ever be a case that arises, we feel it is our duty and obligation to notify you of any potential conflicts of interest and disclose in writing with EVERY client engagement letter.
Wayne's Wisdom
"My vision is to be able to impart meaningful financial wisdom and tax advice that enables people to achieve better stewardship for their families and businesses."
