What would a practice custom-built for technology professionals look like?
We believe it would look precisely like this.
We understand technology clients – because we were technology clients.
Industry norm: The majority of advisors have a background in brokerage or insurance sales.1 Very few have first-hand experience with concentrated stock option wealth.
Schmidt Financial: We have over 20 years of collective experience in VC, start-ups and tech stalwarts. You won’t have to explain 83b elections or 10b5-1 plans – we have lived it.
Transparent fees and independent advice.
Industry norm: According to an SEC study, 90% of broker-dealers have “preferred” relationships, where an advisor’s pay varies based on what he/she recommends to clients.
Schmidt Financial: We work for an asset-based fee that is below the industry average.1 That fee is agnostic to the investments we recommend to clients. No pushing of products or services – our only concern is what’s in your best interest.
1 The NAPFA Benchmarking Survey, Moss Adams LLP, 2006
Track what matters, not what’s simple.
Industry norm: Despite the volatility of 2008, performance reports typically do not reference risk or track the probability of reaching your goals.
Schmidt Financial: Our reports show your risk-adjusted return versus multiple benchmarks and track how portfolio results impact the odds of reaching your goals.
The proof is in the turnover. Our clients stay. Our advisors stay.
Industry Norm: 5% client turnover and 10% advisor turnover according to a study by Cerulli Associates.
Schmidt Financial: <1% client turnover and zero advisor turnover in the past decade. You should expect any financial advisor to be in it with you for the long term. That’s why we invest in relationships as much as portfolios.
It shouldn't take a village to answer your questions.
Industry norm: Only 10% of advisors hold an MBA and less than a third have an advanced degree, CFP or CIMA credential.1
Schmidt Financial: Each of our advisors has an MBA or has completed a CFP or CIMA program. Your advisor isn’t a salesperson. They have the professional background and knowledge necessary to translate macro-economic headlines into actionable impacts on your portfolio.
1 Cerulli Associates