What is a fiduciary?
A fiduciary is someone who has the highest ethical and legal obligation to put your interests ahead of their compensation and any other considerations. In order to do so, Millennial Wealth is only compensated on our advice and recommendations. We do not sell any other financial products and always remain on our client’s side of the table.
Do you work with people outside of Washington State?
Yes, we are able to work with anyone inside the United States. We use technology and virtual meeting software to help us accomplish working with people across the nation.
Why should I hire Millennial Wealth instead of planning myself?
Most people will hire a CPA for tax advice, an attorney for legal advice, and a doctor for health advice. A financial planner is no different. We are professionals who help our clients manage the emotional aspects of investing, which through numerous studies has shown to be one of the most detrimental problems to investors’ long-term success. Beyond helping improve behaviors around saving, investing, and spending for our clients, we also take a comprehensive look at your finances. Helping you maximize your financial decisions and collaborating on a financial plan that considers short-term and long-term goals.
If you have questions regarding your finances, don’t hesitate to sign up for a free first meeting using the button below!
What is Millennial Wealth’s investment philosophy?
Millennial Wealth believes in passive investment management. Young professionals all have time on their side to take full advantage of the power of compounding interest. We believe in keeping investment costs low, tax efficiency, understanding client’s mindset around risk, and rebalancing portfolios when appropriate. Maintaining oversight of what we as investors can actually control (not the market!), like savings, spending, investing, taking advantage of tax-advantaged accounts, maximizing employer benefits, and ensuring your family is taken care of in the case of unfortunate events.
Warren Buffett said it best, “successful investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time”.
Why does being a “fee-only” firm matter?
Fee-only means that our compensation comes solely from the services we provide you. We are not compensated with commissions, kickbacks, “trails” or any other fees that aren’t directly reflected on our website and Form ADV. This means we are able to hold ourselves to the highest fiduciary standard and aren’t conflicted with hitting sales minimums, or potentially giving advice that may not necessarily be in the best interest of our clients. We are compensated on only our fee’s, and it allows us to give unbiased advice to our clients.
I don’t have a ton of investable assets, can I still work with you?
Yes! We designed our fee structure and service model to allow us to work primarily with younger professionals who may or may not have the assets yet that traditional advisory firms will require in order to work with them. We believe everyone is entitled to quality financial advice, and the earlier a solid foundation is built, the greater chance people have of building and sustaining wealth, and achieving their financial goals.
Who is your typical client?
Our typical clients are younger professionals with high incomes, and/or large amount of student debt, young families, and technology industry employees. We’ve found that this is an under-served market with several financial needs and questions that we have specifically tailored our services to. Due to the time constraints, many of these individuals and families have, they prefer to outsource their financial planning needs to professionals.