What is Performance Wealth?
Performance Wealth (performancewealthpartners.com) is an independent investment advisory firm with offices in the Chicago suburb of Hinsdale, IL, Naples, FL and San Diego, CA. With more than 100 years of combined experience, this multi-generation family firm provides a wide range of services including financial/retirement planning, investment management, coordination of estate and tax planning, and financial advice to a diverse audience of high-net-worth individuals and families.
Performance Wealth looks to build long-term relationships with clients by focusing on helping them achieve their goals through a thoroughly integrated approach that combines investment management and financial planning solutions to meet each client’s individual needs.
What can I expect if I choose to work with Performance Wealth?
We are committed to providing you with solutions that will help you meet your financial objectives. While we have a business relationship with our clients, it’s also deeply personal. To help achieve outcomes that you find meaningful, we will analyze and evaluate your circumstances, and listen carefully to what you say (and may not say). Your financial life is complicated with lots of moving pieces and we want to understand them all.
As an independent firm we are free from the potential conflicts of interest that could arise when working with a firm that manufactures and sells its own financial products while also providing clients with investment advice. This allows us to provide a much wider range of solutions to assist our clients in creating comprehensive financial plans and investment portfolios, as well as devising strategies for preserving and transferring their wealth.
We welcome the responsibility of acting as a fiduciary because everything we wish to achieve begins with putting our clients’ interests first.
Will I have my own advisor?
We take a team approach to serving all our clients. As a client you may have one primary point of contact, but the entire firm is here to assist you and ensure continuity of service.
How will I access my account?
You will be able to view your account through our secure client access portal 24/7 in real time. In addition, we will supply you with regular reports on performance in language you can understand.
How do I know my assets will be secure?
The safety and security of your assets is our main priority. As a registered investment advisor (RIA), we are required to hold all client assets with a third-party custodian. After an extensive due diligence process, we chose Charles Schwab & Co., Inc. (“Schwab”) to fill that role. Schwab has more than 30 years of experience serving independent advisors and was a pioneer in recognizing and serving the needs of independent, fee based investment advisors and their clients.
What does it mean that Performance Wealth is a fiduciary?
According to the IRS “a fiduciary is a person who owes a duty of care and trust to another and must act primarily for the benefit of the other in a particular activity.” Financial advisors who aren’t fiduciaries often receive commissions on the investments they sell. Performance Wealth receives no such compensation.
As an independent registered investment advisor, Performance Wealth has an obligation to serve our clients’ best interests and disclose any material conflicts of interest. We understand that trust, advocacy and transparency are essential to any long-term relationship. As a firm, we want our success to be fully aligned with that of our clients.
How does Performance Wealth make money?
We are fee-only fiduciaries, and our compensation comes solely from the fees our clients pay for our financial planning and investment management services. We are transparent in our fee structure and receive no commission or other compensation for any of the products our clients choose. When you do better, we do better.
Is there a difference between a financial advisor and a Registered Investment Advisor (RIA)?
The term financial advisor is a generic term that usually refers to a broker (or, to use the technical term, a registered representative) employed by a bank or investment firm. By contrast, the term investment advisor is a legal term that refers to an individual or company that is registered as such with either the Securities and Exchange Commission or a state securities regulator. Common names for investment advisors include asset managers, investment counselors, investment managers, portfolio managers and wealth managers.
