The answer lies in a philosophy that places a premium on smart, proactive management techniques, proven quantitative models and plenty of personalized attention. When you choose 1650 Wealth, you receive all the advantages and benefits of:
Credentialed & Experienced – 1650 Wealth Management is a Registered Investment Advisory firm. Tom Balcom, Founder of 1650 Wealth Management is a Certified Financial Planner™ (CFP®) Practitioner and Chartered Alternative Investment Analyst (CAIA). Mr. Balcom also possesses an MBA degree with a Specialization in Investments. Mr. Balcom has been featured in The Wall Street Journal and Bloomberg Business and quoted in numerous national publications including Money Magazine, Market Watch, Smart Money, Financial Planning Magazine, MSNBC, Men’s Health, Robb Report and Investment News. He has served as the 2011 President and 2012 Chairman of the Financial Planning Association of Greater Fort Lauderdale and he also served on the University of Miami Hurricane Club Council. Mr. Balcom is an adjunct professor for the Certified Financial Planner® program at Barry University in Miami, Florida. Mr. Balcom was awarded the prestigious 2008 Leading Edge Advisor Award by the Structured Products Association for his innovative work with structured investments within his clients’ portfolios.
Fiduciary Responsibility – By definition, a fiduciary is legally obligated to act in your best interest and avoid conflicts of interest. In simple terms, advisers with fiduciary responsibility have a legal responsibility to put your needs ahead of their own. We put our fiduciary responsibility to you in writing.Industry estimates show that approximately 85% of financial advisors do not have fiduciary responsibility. This includes stockbrokers, insurance agents or financial planners. They may hold various licenses, but since they are not fiduciaries, they are often more interested in selling insurance and investment products than managing your portfolio.Titles for non-fiduciary advisors are unregulated, which means they can adopt any title they like: financial advisor, financial consultant, financial planner or whatever else sounds good. Of course, this doesn’t change the fact that they are really insurance agents or brokers. It also doesn’t change the facct that they typically do not have a fiduciary responsibility to put an investor’s interests ahead of their own, which means they are generally more interested in selling financial products with the largest commissions and have very little incentive to continue helping the client.
Fiduciary advisors are Registered Investment Advisers (RIA’s). These advisors are registered with the SEC or the state security division, and are acknowledged fiduciaries that provide ongoing financial advice and services. Fiduciary advisors receive compensation on a quarter-by-quarter basis for continued services, and that compensation ends if the investor is dissatisfied and chooses to leave the firm.An adviser with fiduciary responsibilities is held to a higher ethical standard and should have the knowledge to provide sophisticated wealth management services and advice. RIA’s are licensed to provide ongoing financial advice, and fiduciary advisors are required to provide disclosure in their ADV′s.
Customized, Comprehensive & Lifetime Relevant – Your financial plan stays current and relevant throughout your lifetime because it is a dynamic plan that is actively managed. We always take into consideration your risk tolerance. If your risk tolerance is set too low you won’t generate the returns you should. If it is set too high, should market conditions become difficult, you will feel pressure to sell your investments, which could cause you to miss out on superior long-term returns.
Simple, Well-Organized, Accessible – Your financial planner simplifies and organizes your accounts and documents, which you can access 24/7 on your personalized, encrypted website.
Fee-Only & Full Disclosure – To make sure our interests are always perfectly aligned with yours, 1650 Wealth will never sell financial products or receive sales commissions. There are no hidden fees or surrender charges. You are free to move your money out of your investment programs at any time if your needs change or you are not completely satisfied with our service. We only receive a management fee for managing your account.
Protection – For your protection, 1650 Wealth’s accounts are custodied at either Charles Schwab or TD Ameritrade which means you have full access to your account at anytime and have the assurances of being insured by SIPC and protected by best in class custodians.