By: Tony DePasquale

Wealthy clients who require advanced investment planning and wealth management services should be concerned the next time they talk to the financial advisor at their bank, or the broker at the big Wall Street firm. Concerned that is, if they value independent and transparent advice on their accounts and wealth management plan. When it comes to providing affluent clients the types of services they need most: investment transparency, elimination of conflicts of interests, fiduciary responsibility, independent financial information, accountable compensation structures, these companies fall short on all of the above. Hidden fee share arrangements, high commissions, pay to play investment products, no fiduciary responsibility to the client and firm reviewed policies on what employees can discuss all play a very critical role in diminishing the affluent client’s ability to get transparent and accountable advice.

Many large private clients have much too much wealth to be advised by a bank, where the average account size is rarely above a few million dollars. Besides the obvious conflicts of interest that banks have, another concern for affluent investors is the inability of these companies to build sustainable advisory teams. Big banks and Wall Street firms do not want to build dedicated teams of highly qualified advisers. It is expensive and an administrative headache. Plus, the top financial talent usually does not want to work in a captive-firm environment, where profit margins are cut and turnover is high.

Another big concern with banks and big Wall Street firms is of course, conflicts of interest. How can a company provide independent advice when they have their own products to sell? How can an adviser provide independent advice when they are paid a commission by a third party to place its products, or are paid more when they trade more? What affluent clients really need a bank or big Wall Street firm for is asset custody and borrowing money. Investment advisory is a very tricky business for them, because they are not held to a fiduciary standard for their clients, they are not required by law to place the client’s interests above their own.

Elysien Private Wealth does not manufacture any products in house and has no ties to any institution or investment products: Not a single one of our investors is a shareholder in our business and we are not affiliated with any asset managers. This guarantees total independence in the choice of investments and fairness in the allocation of opportunities. We are only paid by our clients and we pass any savings onto them. In addition, we are the first and only independent investment firm in Nevada to provide tax planning, insurance planning, lending & estate planning services into our client’s advisory accounts without taking any commissions. We provide affluent clients with a step by step and very thorough process that systematically explores their complete financial picture and outlines a true wealth management plan that best suits their needs.

By: Tony DePasquale

If you own a business or work for a company inside or outside of Las Vegas, I have a question for you. Do you have any idea what your 401k or employer sponsored retirement plan is actually costing you? Don’t be surprised if you don’t, because the answer to that question may be much more difficult to calculate than one might think. Inside of an employer sponsored plan like a 401k, lye an abundance of hidden fees that most employers and employees do not know exist. These fees range from: mutual fund expense ratios, turn over fees, 12b-1 fees, fee sharing arrangements, mutual fund loads, advisor fees, TPA fees, custodial fees, brokerage fees….The list goes on and on. The major problem with the abundance of hidden fees inside of retirement plans are twofold.

First for the employee, excess fees can severely limit the compounding rate of return for their investments over a period of time. By having much of their savings eaten up, retirement becomes a difficult proposition; even for the most prudent investor.

Secondly, the employer has a fiduciary liability under the retirement plan. Most plan sponsors do not fully understand or recognize the responsibilities to their employees and that breaching it can lead to personal legal liability for the plan sponsors or even for employees who hold oversight over the plan.

I recently watched a wonderful video form Bloomberg TV that I have shared with our clients below that goes over the effects of hidden fees in 401k plans. As a qualified 3(38) investment fiduciary, part of our job at Elysien Private Wealth is targeting outdated, high cost 401k and retirement plans, and replacing them with efficient low cost alternatives. In the process we are able to mitigate fiduciary liability for plan sponsors, and allow employees to have a better and lower cost investment experience. Please feel free to watch the informational video below, and if you work for or run the retirement plan for a company, do not hesitate to contact us about providing you with a complimentary fiduciary audit of your retirement plan.

The Hidden Costs of Retirement Plans

httpvp://www.youtube.com/view_play_list?p=0F55CDB719951B5D

Tony DePasquale is the President of Elysien Private Wealth & Real Property – A Fee Only Registered Investment Advisor ( www.Elysien.com). Tony can be reached toll free at (877) 799-9350 or by email at Tony@Elysien.com.

By: Tony DePasquale

Nevada residents have witnessed net worth and investment losses due to a continuing recession and a volatile market. The market volatility has been compounded by light trading activity, high government intervention and limited corporate spending. Nonetheless, there are steps you can take to ensure your assets have full protection under the law. In this article we will explore some of the benefits of legally holding your assets in Nevada and how this advantage can help protect what you have worked a lifetime to earn.

Nevada has become the best state in the country for asset protection and financial security. Nevada is the only state that will allow self settled asset protection trusts and dynasty trusts that have a two year statute of limitations. In simple terms this means you can protect assets from creditors, divorcing spouses and estate taxes. Due to the fact that the trust is “self settled” an individual can be the beneficiary and can also be named the controlling trustee. Any creditor would have to come forth within the initial two years of the trust in order to have a claim to the assets. This provision allows for greater control of investments and provides the best financial security available in the country.

A Nevada Asset Protection Trust can protect property, retirement accounts and investment portfolios. Also, you do not have to be a resident of Nevada in order to take advantage of the law. By establishing a solid plan and combing your trust with an effective investment strategy, you can gain control of your financial future and offset risks such as lawsuits, taxes and market volatility.

Tony DePasquale is the President of Elysien Private Wealth & Real Property – A Fee Only Registered Investment Advisor ( www.Elysien.com). Tony can be reached toll free at (877) 799-9350 or by email at Tony@Elysien.com.