Frequently Asked Questions

 

Q:  How would you describe your typical wealth management client?

Our typical client is highly educated, often with a background in economics and/or finance. They most often have some international affiliation, whether non-U.S. citizenship, business interests outside the U.S., or affiliation with a non-US company or international organization, and so forth.  These “citizens of the world” are highly concerned about reaching their financial goals and expect quite a bit from us; they want us to deliver results.  Our clients often first come to us when facing a big financial decision such as early retirement, lump sum pension distribution, sale of a business, company stock options, etc. that requires some combination of tax planning, financial planning and investment management. 

Q:  What makes you different from other investment advisors?

Having our roots in the accounting/taxation field, we are used to solving problems.  Many investment advisors are limited to delivering only investment advice.  In those times when a client has a Roth IRA conversion question or a question about estate taxes, for example, the advisor must send the client to other professionals.  We have the ability to assist on all of these issues so that the client is getting the best answer and strategy from a tax, estate, risk, and investment perspective rather than from just the investment perspective. We also pride ourselves on being good listeners.  We know that everyone’s situation is unique, and we do our best to craft a program that will be fit well with each customer.  You will find no cookie cutters on our premises.

Q:  What would you say is your highest value-added service for your clients?

Perspective.  Perspective. Perspective.  Clients often come to us with a pre-conceived notion of the issues and possible solutions.  At times, they have already excluded many avenues as impossible.  We have seen thousands of clients over the past 25 years and have assisted many in achieving that which they did not think was possible.  One of our firm objectives is to help our clients understand that they do have a lot of control over their financial and life goals.  After all, we only have one life to live.  With proper goal development and financial planning, most can achieve that which is most important to them.  We provide the tools, strategy, and the “nudge” so they can accomplish those objectives.

Q:  Many firms offer annuities, limited partnerships and separate money managers.  Does your firm have these offerings?

We don’t sell products.  We offer advice.  Rarely do we see these offerings being of value to our clients, and they tend to be very expensive, either to purchase or to hold.  Also, we really want to fully understand the assets we buy for our clients, and many of the mentioned products are “black box” vehicles with very little transparency.  We generally avoid them.  Our firm invests in an easy-to-understand and straightforward manner. We construct portfolios using individual stocks, individual bonds, and mutual funds.  At all times, the strategy is transparent and easy to explain, monitor and review.

Q:  In your marketplace, you are viewed as a small company.  Does this put you at a disadvantage?

Our clients actually see our Firm’s size as an advantage.  We know each of our clients better, and our clients receive more personalized service as a result.  Our clients know that they are our sole focus.  We are beholden to no shareholders, outside interests or big corporations located elsewhere.

Q:  How can your firm compete with respect to research with the bigger firms who have hundreds of analysts?

Our four-person investment policy committee, which is headed by a highly-regarded former Wall Street analyst, manages our Buy List and determines when changes are appropriate.  We have a robust procedure in place for finding, analyzing and monitoring our stocks, bonds and mutual funds.  We think our investment process is as rigorous and sophisticated than those of many larger firms, but more importantly, we think our process is perfectively tailored to the needs of our clients. 

Q:  How would you say your investment philosophy has changed over the years?

Our investment philosophy has NOT changed over the years, and this consistency is a large factor in our success.  We continue to be primarily long-term, value oriented, planning-by-objective wealth management advisors.   That consistency and our steadfast approach to the fundamentals of wealth management continue to serve our clients well.  We eschew chasing the latest fad, hot sector, trend investing, portfolio churning, flavor-of-the day investing – always have, always will.

Q:  There is a lot of news about conflicts of interest with respect to advisors.  Your thoughts?

We have established a fee-for-services arrangement that aligns our interests with those of our clients, and have NEVER, nor will we ever, compromise our integrity or violate the trust of our clients whether in fact or appearance.  We do not receive payments, fees or commissions from any investment company for using their funds or commissions on any product.  Our compensation is based solely on the value of our clients’ assets, which by the way, we never touch.  All of our client assets are held by our custodians, safe and secure as humanly possible. 

Q:  The Wolf Group is well-known as a tax services firm.  Is the wealth management practice a sideline for periods when the tax firm is not busy?

Absolutely not.  When we started the wealth management practice in 1996, we committed ourselves to competing with the best in the industry.  The wealth management business accounts for about 40% of firm revenue and continues to expand.  Being affiliated with a highly successful, 26-year old, CPA firm with an international tax expertise is a huge plus for WGCA.

Q:  What measures are in place to keep “mission critical” staff?

We are highly competitive in compensating our staff and provide a work-life balance that has been successful in recruiting and retaining the best and brightest staff members.  We empower, recognize and reward our staff in ways few professional firms our size do. 

Q: What’s the one thing you would like to say to someone considering using your firm’s wealth management services?

Leave all pre-conceived notions about investment advisors at the door and have an open discussion with us about your goals and dreams.