What’s the difference between working with an advisor and a team practice?
One of the things that makes Warren Street Wealth Advisors unique is that we are a true ensemble practice.
That means that we work as a team. You don’t get a single advisor, you get full ensemble of professionals.
Traditionally, you hired one person to be your financial planner, investment manager, and your client service advisor, and they would have to wear all these hats for hundreds of clients. At Warren Street, you get a dedicated planner, a dedicated investment management team, and a primary point of contact for all of your questions.
We feel that this system helps deliver the best possible client experience, and it ensures our team members are working in their strongest capacities.
How long have you been in business?
Warren Street Wealth Advisors was founded in 2015 by Cary Warren Facer and Blake Street. Cary entered in the industry in 2007 for a Fortune 100 Company and Blake in 2008 at La Pointe Wealth Management, LPL Financial.
Both had realized they shared the same vision for delivering financial advice and the future of financial advisory firms. Their vision was to provide clients with financial advice that was transparent, unbiased, and always with the client’s best interest at heart.
Since 2015, the Warren Street Team has grown to 7 in size and manages $115 million across 190 different households.
What are your fees?
Warren Street is a fee-only investment advisor firm. This means that we charge a flat rate for our financial planning services and a fee for the assets that we actively manage. Our fee is based on the average daily balance of the account, and we charge quarterly in arrears. This is done because we believe that it is in the best interest of the clients we serve.
We do not sell products, have quotas, or work on commission. Everything we use for our clients are investments that we are utilizing ourselves. We are proud of the fact that we “eat our own cooking” if you will.
What if I decide to leave? Any contracts, surrender charges or fees?
There are no contracts, surrender charges, or fees for leaving at any point in time. We always want to work with people for the next 30 years, but on the rare occasions that clients feel they need to move in another direction, they are never held captive with us. That is truly in the client’s best interest.
Are you a fiduciary?
Yes. Being independent, we work directly with the regulators and must work in a fiduciary capacity for our clients.
Being a fiduciary means that we are legally obligated to act in the client’s best interest. Doing anything else would be a breach of that obligation.
What are your credentials?
On staff, we have 1 MBA, 2 CERTIFIED FINANCIAL PLANNERS™ (CFP®), and 2 Chartered Financial Analysts (CFA). We put an emphasis on attaining and continuing education at our firm because we believe it helps us produce the tailor-made solutions that clients need and are looking for from a financial advisor.
What type of investments do you use?
We utilize top active investment managers and passive index funds to gain our market exposure. This means mainly utilizing ETFs and mutual funds when we feel necessary.
Using these tools, we give our clients the appropriate exposure to asset classes that are in line with their goals and objectives. To learn more about how we invest for clients, you can visit our Investment Proven Process.
What returns can I expect you to generate for me?
This is a common question. We aim to generate market-based returns appropriate to each client’s individual risk profile. Our goal isn’t to ‘beat the market,’ but rather to deliver returns sufficient to achieve the investment objective of each client, while taking the degree of risk the client is comfortable with.
There is no one-size fits all answer, so we must decide what is in the best interest of the client in their current financial position. This could be anything from a client looking to achieve growth as they are in their early days of saving, or it could mean preserving capital and generating income for a family who has recently retired.
Will you beat the market?
“The market”, we find, is an arbitrary benchmark. The main focus is on improving the outcomes that clients would achieve on their own. Our job as an advisor is to make sense of the infinite investment options available and keep clients away from long-term damage to their capital and goals. If we can provide this outcome for clients, then we have succeeded.
We also don’t want to focus on returns as the only metric of success for clients as returns alone do not accurately reflect the success of an individual’s financial plan and goals. For most people, being able to sleep well knowing someone knowledgeable and ethical is looking out for their financial well-being is more valuable than capturing 100% of the S&P 500. Success for some means having an income to enjoy their retirement years and help their children from time-to-time. For others, achieving their 5-year plan to save a down payment for their first house might be their measure. That’s true success in our eyes.