Who is the Best Wealth Manager in Lexington?

If you live near the town of Lexington Massachusetts and you are looking for an experienced wealth manager, you should want the best wealth manager in Lexington. But, where do you start looking? How do you find a wealth manager that is the perfect fit for the needs of you and your family?

​Most people are looking for a qualified wealth manager to assist them with their financial planning and portfolio management needs, but they don’t know how to start. Well, today we will make your job a little easier… If you want to make the best decision for yourself and your family, you should consider the following…

​Are your financial needs being met? Do you have questions that needs answers from an experienced and qualified professional?

​Wealth management is a profession which focuses on the entire financial picture of an individual or family. It is a more sophisticated form of Portfolio Management, Financial Planning, Risk Management, Estate Planning and more. It focuses entirely on the client, their environment, and specific needs. Wealth management involves a holistic plan that solves your immediate needs and each subsequent need as you travel through the different stages in your life. Looking for a wealth manager that is a good fit is hard, but when you find the right wealth manager, they make your life easier.

​If you are looking for the best wealth manager in Lexington, here are some aspects of the wealth management profession you should consider.

✓ A Leader in the Wealth Management Profession​

Wealth management is a comprehensive collection of different fields of expertise. While no one person can know them all at an expert level, it is important that the person can coordinate between different professionals. It is important for a wealth management professional to work with estate planning attorneys, CPAs, insurance brokers, mortgage brokers, and bankers in order to aggregate all the necessary information for the client. The wealth manager needs to be able to lead the discussions and quarterback the process to ensure a smooth flow of information to the client.

✓ Educational Background in a Relevant Academic Field​

​While having a strong academic background is important, what should be more relevant to investors is having actual experience. The academic theories such as efficient market hypothesis and modern portfolio theory have largely been proven false. While we understand these principals, as well as many others, we find that real-life experience is much more valuable. You can learn more about our experience here.

✓ Extensive Experience as a Wealth Manager​

From 2000 until today, the stock market has experienced 2 full cycles, or two bull markets and two bear markets. While no one can make guarantees in this profession, I can guarantee that there will be more bull and bear markets in future years. This is a part of how normal markets operate. While it might be easy to observe this activity from a textbook, there is nothing like having actual experience managing portfolios under these conditions. The principals of Innovative Advisory Group have experience in the last two bull and bear markets and know how to manage risk. Risk management is one of the most important skill-sets that a wealth manager can provide to their clients. This skill is at the core of our wealth management philosophy.

✓ Expertise in a Niche Area of the Wealth Management Field

​While many wealth managers can produce a similar result when it comes to financial planning or investment returns, some aspire to be more than just average. Some wealth managers have a particular expertise which separates them from the rest. Innovative Advisory Group has an expertise with alternative investments in Self Directed IRAs and Self Directed 401ks that is coveted by other wealth managers. Some other wealth managers even engage us to work with their clients due to our expertise with self-directed IRAs. This expertise on alternative investments allows our clients to diversify their investments outside the stock and bond markets and invest in their passion.

✓ ​Professional Excellence

If you want your wealth manager to be the best wealth manager in Lexington, then you want that person to have been recognized by various organization as an expert, or if possible, as the best. Innovative Advisory Group and its principals have repeatedly been recognized as experts in their field and in some cases as “the best”. You can view our​ Media and Press page for all our various individual and company accolades and awards.

✓ ​Fee Only Advisor

When you are looking for a financial advisor, you want to know that that person has your best interest in mind. You want to know that they are compensated by you, not the financial services industry. When you choose a fee-only advisor, you can know that they do not accept any fees or compensation based on product sales. Fee-only advisors have fewer inherent conflicts of interest. Many “fee-based” advisors get paid commissions in addition to their fees, which can muddy the waters of what is in the client’s best interest.​

✓ ​Fiduciary Responsibilities

​When a wealth manager is a Fiduciary, you know that legally and ethically the investment advisor is looking out for your best interests. Being a fiduciary is one of the highest standards of care in the legal sense of the word. This is what all financial advisors should aspire to. It is what clients deserve. However, not all financial advisors are required to adhere to the fiduciary standard of care for their clients.

“Brokers” who have a “suitability” standard are only required to apply a standard of care until the transaction is completed, then their professional responsibility ends. There is no requirement to follow up with the client after the transaction is concluded. This is not to say that brokers are not highly professional, but when you are looking for a new advisor, don’t you want to have a level of comfort knowing that your investment advisor is sitting on the same side of the table as you?​

​Are You Still Looking For the Best Wealth Manager in Lexington?

There are many more traits that you should look for, but if you are looking for a wealth manager in Lexington or the Greater Boston area, Innovative Advisory Group should be on your short list. Here is how you can learn more about Innovative Advisory Group and its principals:​

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