It is important for financial advisory companies to focus on their clients. Understanding their needs allows for better service. HCR Wealth Advisors is a company that has been focusing on this aspect of business for a number of years now. Their motto focuses on putting the clients first, and everything else becomes secondary. This business model changes the game a bit for HCR Wealth Advisors. For example, they do not need to make a profit from the sales of different financial products. Instead, a fee is earned from assisting clients meet their goals. This amount is determined based on the total amount of assets that are managed. These fees are outlined very clearly in every agreement that is presented between HCR Wealth Advisors and prospective clients.
An effective financial plan encompasses a number of different ideas. HCR Wealth Advisors has come up with seven different steps that it uses to help clients. This includes:
- Outlining current financial status, thus creating a list of goals.
- Finding out what a client needs in an immediate situation, and what the client will need many years into the future.
- Discussing investment opportunities, and what investment opportunities might work best for the current situation at hand.
- Providing around the clock access to information. This helps a client feel like their information is transparent and available to them at any time.
- Periodic assessments to see if anything has changed, and will the plan need to be changed in the future?
- Monitoring growth moving forward. Changes may need to be made, but sometimes it is just useful to keep an eye on everything.
- Being open to major life changes and being able to accommodate them moving forward.
HCR Wealth Advisors utilize a team of advisors to serve clients. Having a team allows the firm to respond to clients and to apply the team’s experience to look at a client’s financial situation from a much broader perspective. The process involves looking into a client’s needs, what their current financial situation is, the goals, etc. This creates a unique situation and relationship.
HCR Wealth Advisors is not affiliated with this website.