Managing investments is not financial planning. For a certified financial planner practitioner, managing and monitoring investments is part of the implementation of the financial plan.
Selecting investments is part art and part science. As the CFP® professional, Lauren uses mutual funds and ETFs (exchange-traded funds) to construct client portfolios and occasionally will use individual bonds or stocks when appropriate. Lauren uses asset allocation and diversification and keeps things simple but not simplistic and avoids complexity which doesn't always mean sophistication.
The regulation of financial advisors may not concern those people who have the time, temperament, and talent to manage their own intangible investments or who prefer to invest in only one asset class such as real estate. However, those investors who understand the value that an advisor can add to someone's investing experience, will want to know under what type of regulation an advisor operates.
Lauren Prince, owner of Prince Financial Advisory, LLC is a certified financial planner practitioner, CFP®. This means that she agrees to abide by the code of ethics and professional standards established by the CFP Board of Standards. A major tenet of these standards and ethically conduct is to always do what is in the client's best interests. In addition, as a investment advisor representative of Prince Financial Advisory, a Registered Investment Advisor, Lauren is regulated by the fiduciary principal which also states that the fiduciary does what is in the best interests of the client. Not all financial advisors are regulated by the fiduciary principal. In fact, most adhere to the suitability rule which states that an advisor must do what is suitable for the client in regards to time frame and risk level but not, necessarily what is in their best interest. Entrusting your financial future to an advisor is an emotional commitment as well as a financial commitment. You put your trust in your advisor and assume that he or she will have your best interests in mind. Lauren believes that clients want to be treated as people, not just as portfolios or accounts.
Please call us at 212-286-1372 to discuss your concerns and to set up a get-acquainted meeting.