Our Commitment: To Transparently Adhere to Defined Parameters
By nature, we pay less attention to our finances when times are good. Only when times are bad, do we get into the weeds and ask, “What is going on with my portfolio?”
We see this in our business all the time. If we weren’t actively reaching to clients, our office would get pretty quiet when markets are up. But when markets are down, everyone’s eager to talk to us.
We’re always happy to talk to our clients, no matter what markets are doing. We believe it’s our responsibility to keep our clients informed—including what their investments are earning and what we’re charging in fees. They shouldn’t have to guess at their ROI.
Why the relentless honesty? Why the willingness to communicate good and bad news, openly and completely? We adopted this way of doing business early on for one reason: TRUST.
We use transparency and trust to build long-term relationships with our clients.
It’s easy to be a good wealth manager when times are good; it’s much harder when times are tough. We’re in it for the long haul.
Transparency Becomes the Norm, Not the Exception
That’s why we’re delighted the financial industry is finally catching up to our way of thinking. CRM2 regulatory changes require financial advisors to openly disclose investment performance and fees. The change has sparked a massive overhaul of our industry, propelling many firms to shift from commission-based fees to flat-rate fees. For many wealth managers, it means finding a whole new way of doing things.
For us, transparency has always been job one. Without it, other commitments (such as providing leadership, staying current, delivering informed opinions and initiating momentum) have no meaning. In truth, transparency is in the best interest of us and out clients.
Pedersen Group Wealth Management is a personal trade name of Darren Pedersen.
This article was prepared solely by Darren Pedersen who is a registered representative of HollisWealthTM (a division of Scotia Capital Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada). The views and opinions, including any recommendations, expressed in this article are those of Darren Pedersen alone and not those of HollisWealth.