It began as a simple idea when Future Wealth registered itself as an LLC, five years ago on April 11, 2016. The company’s mission was to provide financial advisory services that meet our clients’ risk threshold and investment horizon at a fraction of the cost charged by large banking institutions while putting clients’ interests first and providing complete transparency in fees charged.
Future Wealth LLC was founded with the aim of catering to clients who had modest savings ranging from $100,000 to $5 million. This segment was largely ignored by big financial institutions and, when they did, these institutions sent their junior advisors to cater to this segment of clients. On the other hand, Future Wealth’s promise is to provide best financial advice to all our clients by a seasoned Wall Street veteran with no hidden fees, no commissions, no up-front or back-end charges and abiding by the fiduciary standard that puts clients’ interests ahead of our own. The only fees our clients pay are a one-time portfolio set-up fee and subsequent quarterly management fee based on assets invested. These fees are shown clearly on our website.
The prevailing model adopted by financial advisors at other financial institutions was to cater to ultra high net worth individuals and charge exorbitant management fees on top of collecting commissions on every transaction. In many cases, the investments made on client portfolios were unsuitable for the client but yielded a nice commission check for the financial advisor which was largely hidden from the client. Future Wealth’s ultimate objective is to disrupt this model that has existed for too many years costing investors too much of their own money.
By passing on the savings, our clients have benefitted. In 2020, the average return for clients with an aggressive risk profile was 28.3% while growth investors saw an average return of 20.0% and income investors witnessed 7.7% average return. Timely response to emails and phone calls and frequent personal interaction with our clients, has resulted in client retention rate exceeding 90%.
Since our launch, we have expanded our services to include 529 educational plans, legacy and charitable planning in addition to managing brokerage, IRA, Roth IRA and Minor accounts for our clients and everyone in their household. Advising on 401K plan choices and Life insurance investment choices are also provided free of charge to all our clients.
As we look ahead to providing more services and helping more clients in the coming years, we want to thank all of you who placed your trust in Future Wealth LLC since the company’s inception and we welcome those who have joined the firm’s client list more recently. We look forward to a long and enduring relationship throughout your lifetime.