We enable wealthy families to overcome the statistics that 70% will lose their wealth by the 2nd generation, 90% by the 3rd. Divorce can have a significant impact on generational wealth, let Fusion Family Wealth protect your greatest assets.
Helping Investors Behave Their Way To Wealth.
As CEO, my three decades of experience have taught me that the biggest causal factor of the inability to preserve and grow wealth is counterproductive investor behavior. We believe failure has little, if anything, to do with the ability to “outperform” a random benchmark, the ability to successfully forecast the economy or to gain a timing advantage over the market (knowing the best time to enter, exit and reenter) or knowing which of a group of similar investments (i.e., growth funds) will do best going forward, based on past performance or anything else. We readily admit that we can’t accomplish any of the above, but in our three decades of experience, we learned that nobody else can consistently do these things either and that they are irrelevant (and even an impediment) to goal attainment.
We view each potential client interview as an information discovery meeting. However, it is about discovering information about the investor, not about his or her current investments. In this session, the first step is to identify the investor’s most cherished goals. The second step is to discuss a plan to meet the goals, against which we will measure progress. The third step is to construct a portfolio of investments — whose role is as servant to the plan — that based on historic returns would have enabled goal attainment in the time allotted. Most investors don’t identify portfolio construction as the third step, but rather as the only step. As a result, they end up having a speculation, rather than an investment portfolio, and they are left to make frequent changes in response to current events and the financial media. Once we develop a plan, our main role is to help coach our clients so that human nature doesn’t blow the plan up through a long investment lifetime marked by many passing fads and fears. Our investment vehicles are almost exclusively made up of low cost and tax efficient index funds.
We currently oversee about $900 million for wealthy families and $160 million for corporate pension and retirement portfolios. We are fee-only fiduciaries, meaning that we never receive a commission from an investment product and we resolve all conflicts in the best interest of our clients. Our clients’ assets are safeguarded/held by either Fidelity or Pershing – two of the largest financial custodians in the world. Client assets are protected at the same level as many of the largest brokerage firms, but without the conflict of having both the custodial/asset protection and advice roles played by the same firm.
Successful investments are goal-focused and planning- driven. ALL successful investors are continuously acting on a plan. Failed investments are market-focused and performance-driven. ALL failed investors are continually reacting to the financial media, current events, and short-term performance.