How to Hire an Advisor

Choosing a financial advisor is a challenging task—and not all advisors are created equal. You want a firm that understands all of your financial needs, works in your best interests, and commands the skills and resources to deliver an industry-leading solution. Here are some important elements to consider when doing your research on your next advisor:

Hiring an Advisor: What You Need to Know West Capital Management

Does the firm’s compensation structure conflict with its objectivity?

Your advisor should offer you unbiased advice and be motivated to serve your interests rather than to earn a commission.

(For more detailed information on all the ways commissions may create conflicts of interest for an advisor, see the Comprehensive Financial Advisor Diagnostic tool, which the National Association of Personal Financial Advisors [NAPFA] provides.)

No – WCM is fee-only, based on a percentage of assets under management. We do not earn commissions or charge additional fees.

Do they have in-house specialists that directly interact with you?

You need unfiltered access to highly-specialized expertise to address all of your varied financial needs, from planning to investment research.

Yes – WCM assign a team of credentialed specialists from each department for each client relationship. Clients have regular, direct access to each
specialist on the team.

Does the firm have any regulatory complaints or filings on their record? Do any of the personnel have reported issues?

Your advisor should have an unblemished record of service. Check for issues by visiting www.adviserinfo.sec.gov

No & No – Neither WCM nor its staff have had complaints filed.

Is the firm properly staffed for the number of relationships it serves?

Thinly-staffed advisors may overpromise and under-deliver, causing them to make mistakes and fail to respond in a timely way.

Yes – Every WCM client receives a three-person team assigned to their relationship.

Is the firm focused in one area over others or do they have equal staffing on investments and planning?

It is equally important to plan carefully and execute flawlessly. NAPFA stresses comprehensive services.

Equal – WCM’s CPA/JD/CFP® to client and CFA®/CIMA to client ratios are equal.

Do they have a proprietary investment strategy?

An advisor may have a financial incentive to push proprietary products even if they are not the best available solutions to your needs.

No – WCM scans the industry for best-in-class ideas and is free to work with any strategy, research desk or investment structure.

Is there a succession plan in place?

A succession plan ensures that you receive continuous service regardless of whether key employees leave the advisor firm.

Yes – WCM has put measures in place to protect the company and also to tie in key employees for continuity of client service.

Do they customize all of their solutions?

There is no point paying an advisor’s fee for an off-the-shelf, cookie-cutter solution that does not even meet your unique needs.

Yes – Everything WCM constructs for our clients is 100% customized to help them succeed in meeting their unique goals.

What is their client retention ratio?

Clients know their advisors best—and they vote with their feet.

Over 90%.