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PHILOSOPHY
Individuals vary in how they perceive wealth.
They also differ in how much wealth is “enough” for them. We know that our clients
have big differences in how they want their wealth transferred to family, friends,
and/or charity, either during their lifetime or after passing. We help these clients
consider the myriad of factors that should be considered when creating a plan. We
ask the questions that many clients would never ask if they were left alone to sort
thru the issues. We give clients the benefit of our experience, having seen what
works, and what doesn’t.
Many financial planners are really insurance agents or salesmen in disguise trying
to sell you something that you may not need to increase their commission income.
Many offer to prepare a “free” financial plan hoping to generate commission income
by selling insurance policies, mutual funds, annuities, and other products. Gerschick
Wealth Management takes a very different approach to advising its clients. We do
not earn commissions by selling products. We are a “fee only” advisor; this
allows us to provide more objective advice and focus only on the specific needs of
the client. We offer clients a variety of fee options and allow them to select the
one they want.
We believe very strongly that each client is unique, so we do not take the same generic
approach with each client. Instead, we develop and tailor a plan to meet particular
needs and goals, taking into account a client’s unique factors and circumstances.
This is very important because no two people are starting from the same financial
position, nor do they have the same goals or tolerance for risk. We take the time
with each client to explain in plain English the options available, and the advantages
and disadvantages of each. We structure an appropriate plan and often work with our
clients’ other advisors to implement it.
Many people rely on (1) CPAs for the preparation of tax returns; (2) lawyers for
legal matters and documents; (3) insurance agents for insurance coverage; (4) stock
brokers or money managers for investment advice; and (5) financial planners for general
financial and retirement advice. Unfortunately, in many cases, this group of advisors
fails to communicate with each other opening the door for conflicting advice and
diverging plans of action. At Gerschick Wealth Management, we have the expertise
in all areas to provide our clients with a consistent plan to achieve the desired
goal while considering the legal, tax, investment, financial, and practical issues.
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