Nicole Webb | Financial Advisor - Wealth Enhancement Advisory Services, LLC (2024)

FAQs

Who is the Wealth Enhancement Group? ›

Wealth Enhancement Group is one of the largest independent wealth management firms in the U.S. Wealth Enhancement Group offers comprehensive and customized financial planning, estate planning, retirement income planning, insurance, tax strategies and investment management services to clients nationwide.

BlackRock, Vanguard, Fidelity, State Street Global Advisors, and J.P. Morgan Asset Management are the five largest financial advisory firms in the United States, ranked by assets under management (AUM). The size of these firms allows them to offer a multitude of services to their clients.

A wealth advisor—or wealth manager—is a licensed financial advisor who helps high-net-worth individuals (HNWIs) and families manage their financial wealth. Wealth advisors work with clients to develop investment strategies, plan for retirement and create wealth-building plans.

They advise private, high-net worth individuals and affluent families on how to invest their portfolios and plan their finances to meet their financial goals, and they typically offer a range of services, including portfolio management, estate and retirement planning, and tax services.

Wealth Enhancement Advisory Services charges an hourly rate of up to $600 an hour or a flat fee of between $250 to $25,000 for a plan, depending on the complexity.

Wealth Enhancement Group's Chief Executive Officer, Jeff Dekko, has been named a finalist for Chief Executive Officer of the Year by WealthManagement.com. in the category of “Individual RIA Firm Leaders (AUM More Than $20 Billion).”

A financial advisor is worth paying for if they provide help you need, whether because you don't have the time or financial acumen or you simply don't want to deal with your finances. An advisor may be especially valuable if you have complicated finances that would benefit from professional help.

He or she will help you construct a portfolio that gives you a good chance of reaching those goals, based on the best research available. But even the best financial advisors are at the whim of the market. Most professional investors who try to beat the market actually underperform it over a given time period.

Some traditional financial advisors have minimum investment amounts they require to work with clients. These can range from $20,000 to $500,000 or even more. Why? Because their fees need to cover their time and expertise, and managing smaller portfolios may not be cost-effective for them.

How do wealth advisors make money? ›

In the financial world, advisors and planners are compensated in one of two basic ways: by earning flat fees or by earning commissions.

As we have established, the main difference between a private wealth manager and a financial advisor comes down to the type of clientele they work with. If you have a high net worth, you're more likely to go with a wealth manager. Otherwise, you'll probably employ a financial advisor.

A high-net-worth individual, or HNWI, might be defined differently among certain financial institutions. But in all cases, a high-net-worth individual is someone with a large amount of wealth. Typically, a high-net-worth individual has assets of between $1 million and $5 million.

That said, a minimum of $2 million to $5 million in assets is the range where it makes sense to consider the services of a wealth management firm.

Investment advisors may be ideal for investors who want someone else to manage their investments, or for investors who want assistance with planning for taxes, an estate, or a mortgage. In contrast, a broker-dealer is a person or firm that can buy and sell securities on its own account as well as on behalf of clients.

Wealth Enhancement Group, as a fiduciary, has a long history of providing unbiased, independent advice to plan sponsors. We collaborate with you in the areas of prudent investment practices including plan governance, investment due diligence and ongoing monitoring.

Fiat Wealth Management, Beacon Pointe Advisors, Financial Asset Management Corporation, Silveroak Wealth Management, and Harbor West Financial Planning Wealth Management are some of the 29 competitors of Wealth Enhancement Group.

About Wealth Enhancement Group

We proudly provide tailored financial plans and investment management services to serve the unique needs of over 61,000 households from our 115 offices - and growing - nationwide.