Why choose Rymer Wealth Management (RWM)?
"A man cannot serve two masters." - Harlan Fiske Stone, 12th Chief Justice of the United States
As a Registered Investment Advisor (RIA) under the Investment Advisers Act of 1940, Rymer Wealth Management must adhere to a strict fiduciary standard of care requiring us to act in the best interests of our clients. While we cannot eliminate all potential conflicts of interest with our clients, we make a serious effort to mitigate what we can and expose any and all potential conflicts of interest with the client.
While a Registered Investment Advisor is held to a fiduciary standard regulated by the SEC and related state authorities, certain other financial advisors not registered as RIAs need only comply with client suitability standards, which are much less strict and do not require acting in the best interest of the client.
The Financial Industry Regulatory Authority (FINRA) also has authority over these other financial advisors, many of whom are affiliated with broker-dealers such as UBS and Merrill Lynch. Unfortunately, FINRA exempts broker-dealers from the fiduciary standard enforced for RIAs. Thus, advisors affiliated with a broker-dealer need only adhere to a Suitability standard which requires only that the advisor obtain information concerning the client's: (1) financial status, (2) tax status, (3) investment objectives, and (4) and other information considered to be reasonable. As a result, several conflicts of interest are abound.
When you choose a financial or investment advisor, be sure to understand the ultimate responsibilities that advisor has to her clients and her industry. There is a significant difference between the Fiduciary Standard and the Suitability Standard. Remember that "a man cannot serve two masters." Know who your advisor's master is!
The financial services industry has become quite complicated for retail clients due to a proliferation of innovation and regulatory changes over the last 10-15 years. Because we place the interests of our clients first, we commit to full disclosure of all fees charged to each client. Your financial decisions should not become more complicated simply because the financial industry has. We strive to make the information you use for your financial decisions clear and simple.
Clients also see our insatiable desire for simplicity in our fee structure and our service approach. We help each client rise above the noise of the financial markets and the investing world. We have only one fee, which includes investment advisory services and any necessary financial planning consultations and referrals.
A Fee Only Advisor
Unlike financial advisors affiliated with brokerage firms, we are a fee-only firm - and you will always know your fee upfront. The only person or entity from which we receive and earn money is you - our client! We charge no commissions for trading. Any and all account servicing fees and trading costs are charged directly by the custodian. However, our firm always discloses these fees to you in a clear manner.
Since our clients do pay for trading commissions, we partner with the custodian we believe is the best value for our clients. We base this choice on quality of trade execution, customer service, and commission rates, among other factors. Again, we will fully disclose all fees with you upfront to the best of our ability.
A Leader in Cost Management for Clients
The financial services industry is abound with embedded commissions and complex fee structures. One of the reasons we have established RWM is to simplify this world and provide clarity and visibility to our clients. We are a proponent of financial pioneers such as John Bogle, David Swensen and others, who believe in passive investment management. It is the belief of this firm that our clients will preserve their wealth much better in the long run using passive investing to keep trading and advisor costs low and maintain exposure to a broad, diversified set of asset classes.
There are many advisors who continue to market an active investment approach. While some clients may find this a better approach, we do not subscribe to such an approach to all investors because it comes with higher advisor fees, more complicated risks, and sometimes higher trading fees through portfolio turnover and sales charges.
While the firm does not advocate active investment management for all investors, this type of management can be very suitable and beneficial for certain sophisticated investors.
Specialization with Business Owners and Professionals
Founded by long-time business owners ourselves, RWM understands the specific needs and demands of entrepreneurs. Whether you are a physician in a practice or have a privately held business, we specialize in working with such clients because these are our roots, too! We have the ability to provide our clients with a variety of services to help manage and protect your wealth.