Independent wealth management means that the advice provided is free from commission driven conflicts of interest and is free from any parent corporation or franchiser entity that would try to pressure its subordinates to push unwanted sales “products” on its clients. By contrast Mayflower Capital has no corporate parent, no absentee owners getting unearned income, no franchiser entity charging royalty fees, no Broker-Dealer that requires meeting a sales quota. This independence is as vital as having a surgeon scrub down for an operation; any other way of doing financial planning risks that the financial plan will be with contaminated with unhealthy influences.
The theme of independence is analogous to the U.S. independence of 1776 when the people felt that sending profits to the Colonial parent meant that the Colonial residents could not control their destiny and were thus financially exploited, so it became necessary to seek independence.
An independent firm has less overhead so that means more savings for the client. Independent firms are free to quickly explore creative new ways to invest, do tax planning, retirement planning, etc., while giant corporations are bogged down in bureaucratic squabbles between different departments before they finally roll out new financial services.
It is the independent thinking of contrarian investors (who avoid the incorrect investment opinions of the masses of people) that have the best chance of obtaining the rewards of avoiding investment fads. The culture of independent financial planning is vital to creating an environment where the best independent investment advice can develop.
Don Martin, CFP® is an independent Certified Financial Planner near San Jose, California. Don Martin, CFP® uses his independence to develop a creative, contrarian approach to financial planning and investment advice. Don Martin, CFP® is an independent retirement financial advisor near San Jose. The firm’s owner Don Martin, CFP® offers investment advice with no financial planning or investment advice with financial planning. The firm offers independent financial research.