Things You Need To Know About Investment Advisory Firm Of Dennis McMurray Bridge Wealth Management Group

Dennis B. McMurray the investment advisory firm  advisory or you can say planner /consultant at Bridge Wealth Management Group located in Irvine, California. He determines that everyone knows that choosing a financial advisor is a not an easy decision, but right question which we should ask from ourself how do you find the right investment advisory firm or consultant? If you are thinking of talking to your friends and family to get best planner that will not be beneficial not for you. You might even ask your CPA or attorney for a referral.

Dennis B. McMurray are you confident that an advisor is qualified for the job and Is he committed of putting your interests that you need? and Is he providing services which you need?

Things You Need to Know Before Getting a Services Provided by Financial Advisory

1. Investments
2. Estate and Gift Planning
3. Education Planning
4. Tax Planning
5. Insurance and Risk Management
6. Personal Finance
7. Retirement Planning & Social Security

• Compensation

1. Commissions
2. Commissions & Fees
3. Fee-Only

• Obligation to Clients

1. Fiduciary
2. Suitability

• Software & Technology

1. Investment Performance Reporting
2. Financial Planning
3. Collaboration/Meeting
4. Security

• Investment Philosophy & Strategy

1. Attempt to Beat the Market
2. Seek to Earn Market or Asset Class Return

• Education & Credentials

1. CFP®
2. CFA
3. CPA/PFS
4. College Degree

• Registration & Disciplinary

1. Verify Professional Credentials.
2. FINRA Broker Check.
3. SEC Investment Adviser Public Disclosure.

Things You Need to Know Before Choosing a Financial Advisory

What services and advice does the adviser provide?

1. Some advisers only manage your investment portfolio.
2. Others provide comprehensive financial and retirement planning advice that goes well beyond investments.
3. It’s important to know what services you are receiving when working with an advisor so you can make an apples-to-apples comparison.

How is the adviser compensated?

1. Most advisers sell mutual funds, insurance, and annuities and earn commissions by doing so. This creates a clear conflict of interest.
2. Other advisers are compensated exclusively for the advice and services they provide, just like a CPA or attorney.
3. Such professionals are known as fee-only advisers because they do not earn commissions.
4. It’s important to note that “fee-based” is not the same as “fee-only.” Fee-based advisors actually earn commissions and charge fees.

What obligations does the adviser have to me?

1. Advisers that work for a large bank, brokerage firm, or insurance company have minimal obligations to their clients.
2. Such advisers are free to recommend in-house products or investments that pay higher commissions, so long as they are deemed “suitable” for the investor.
3. On the other hand, advisers that are employed by firms known as independent registered investment advisory (RIA) are required to always place their client’s interest first.
4. This is known as a fiduciary standard of care and is similar to a doctor-patient relationship

What type of technology does the advisor use?

1. Some advisers run paper offices and primarily handle everything in person or via snail mail.
2. Other advisers embrace technology, allowing them to deliver a similar experience to clients no matter where they live or work.
3. Often, these advisers will employ technology that provides their clients with real-time financial information, advanced performance reporting, and the ability to collaborate using web meeting software.

What is the advisor’s investment philosophy?

1. Some advisers employ strategies that attempt to beat the stock or bond market
2. Such advisers attempt to pick stocks, time the market, or choose fund managers who will outperform. Research shows that the odds of success with such a strategy are low.
3. Other advisers design portfolios that seek to earn the return of the market or asset class they are investing in
4. These portfolios are typically low cost, tax efficient, and widely diversified. Research demonstrates that this strategy provides clients with a high probability of outperforming most other investors.

What education, credentials, or professional designations does the adviser hold?

1. Not only Dennis McMurray various other Financial advisors come from various backgrounds and often start their careers in other related professions, such as accounting/tax, law, or finance.
2. In addition to career experience, the advisor should have, at a minimum, a bachelor’s degree from a respected university.
3. It is also wise to seek out an advisor who has obtained advanced credentials in the fields of investing and financial planning. The most widely known are the CFP® and CFA designations.

Does the adviser have any complaints or disciplinary actions on their record?

1. Although the vast majority of advisors are law-abiding professionals, an alarming number of them have complaints, regulatory violations, or other issues they are required to report on their record.
2. Before working with an advisor, you should always check their history with the relevant regulator.
3. If they work for a broker-dealer, you can view their registration through FINRA BrokerCheck.
4. For investment advisers, use the search function on the SEC Investment Adviser Public Disclosure (IAPD).
5. If an advisers holds themselves out as having a CFP®, CFA, or other professional designation, check to confirm they are in good-standing with the organization that confers the designation