Home > Don't Be Held Captive
Suppose you entered a hospital suffering from multiple symptoms. Would you accept medical advice from different specialists without first understanding how their individual recommendations would affect you as a whole?
Unfortunately, when it comes to financial matters, that’s just what most affluent individuals do. They may seek advice from a…
- Investment Advisor for financial product selections
- Attorney for asset protection or estate planning needs
- CPA for tax and accounting advice
- Insurance Agent for insurance needs (life, health, disability, long term care, etc.)
- Mortgage Broker for mortgage planning needs
More often than not, these advisors were accumulated one-at-a-time without regard for how they might work together. Since these advisors are “captive” to their specialty, almost never do they communicate with each other. Because there is no “team”, investors are left without a comprehensive financial strategy.
Who is helping you define your overall wealth management objectives?
SPM Wealth Advisor | Captive Advisor |
| Focused on what you need | Focused on what they can sell |
| Unbiased1 in finding the most appropriate solution | Restricted by what products or services are available to them |
| Leveraging more sophisticated strategies used by the affluent | Using traditional approaches known to most people |
| Coordinating specialties into one integrated plan | Offering planning limited to their own specialty |
If you have concerns that your current advisors might be constrained by the limitations that a “captive advisor” faces, then you need to investigate how an SPM Wealth Advisor may benefit you.
Keep in mind, there are “independent advisors” who can offer products from various companies within their specific field of expertise (investments, insurance, etc.). They are not the same as a Wealth Advisor who can offer unbiased1 advice across multiple disciplines in order to integrate your investment, legal, tax, and insurance needs into an comprehensive integrated wealth management plan.
Select Portfolio Management, Inc. (SPM) is an independent national investment advisory firm. Along with Securities Equity Group, (Member FINRA, SIPC, & MSRB), SPM’s independent Broker/Dealer, and SPM Insurance Services, Inc., SPM’s insurance wholesaler, SPM offers impartial1 guidance and solutions that are tailored specifically to your goals, timeframe, objectives and unique situation.
Please see our section on Integrated Wealth Management, which will help you understand the advantages of working with one firm that can become your single point of contact for your unique comprehensive and integrated wealth management plan.
1See Additional Disclosures