Eight years ago, this company was founded on the premise that there was a need for a different approach to Wealth Management – popular institutions providing Wealth Management and Financial Advisory services were solely focussed on ultra high net worth clients and ignoring those hard working individuals who had scraped together modest 401Ks and savings accounts. Future Wealth LLC’s mission has been and continues to be to cater to middle income individuals and households who have assets in the range of $100,000 to $10 million at a price point well below the prevailing fee structures. By staying away from the cookie cutter approaches adopted by other wealth advisors, our objective was to build for each of our clients a customized portfolio – not a plain vanilla 60/40 stock/bond portfolio recommended by other firms that, in most cases, was not suitable for the client.
The business was started with the objective of putting clients interest first by keeping management fees at a bare minimum allowing the portfolios to grow and compound over time. At that time of the company’s founding, the prevalent fee structure charged by institutions such as Merill Lynch and Morgan Stanley etc. was 2-2.5% of assets under management. Future Wealth LLC’s fee structure remains at 0.7% of assets since our inception (on assets of >$900K) and goes down to 0.5% as assets reach $10 million. Since that time, many institutions have reduced their fees to come closer to our structure but the prevalent fee structure at other firms still remains at >1% of assets under management plus commissions on investment products in client portfolios. Future Wealth LLC, on the other hand, is a fee only firm and takes no commissions on the investments we recommend and place in our client portfolios and as such have the ability to select the most appropriate low cost investments for our clients based on their risk threshold.
Since we started Future Wealth LLC, we have expanded our product offerings to cater to every aspect of our clients needs. The business began with managing brokerage and IRA accounts and since then we have added 401K rollovers, 529s, Minor accounts, Trust accounts, Life insurance investments, Options trading and backdoor Roth IRAs. While we cannot manage our clients’ company sponsored 401Ks directly, we recommend appropriate changes to their 401K investments on a regular basis at no additional charge. We have also partnered with tax advisors to provide our clients with a seamless transition to filing tax returns. Clients who joined Future Wealth LLC with assets of $100K – $200K have seen their portfolio grow to over $1 million and beyond as they kept adding their savings to their portfolios which was then invested according to their risk tolerance.
We are most grateful to our clients who joined Future Wealth LLC at its inception in 2016 as well as to those who have joined the Future Wealth family since then. Without your trust and support, we could not have achieved this milestone of managing $50 million in assets. We will continue to provide extraordinary personal service and explore new products to offer to our clients as we grow our business.
Finally, the success of Future Wealth LLC is a tribute to my father and mother, who both grew up in humble households in small towns in India but had the vision to teach their two children to be bold, reach for the stars, take the risks, not succumb to failure and just dare to be different.