Test­ing the RISKS

The Suit - - Cover Story -

2008 fi­nan­cial cri­sis left lin­ger­ing, un­pleas­ant mem­o­ries in its wake – and now in­vestors ex­pect wealth man­age­ment ad­vi­sors to han­dle risk much more ef­fec­tively. That’s what David Adams, Pres­i­dent of the Nashville-based David Adams Wealth Group, hears now when he speaks with clients.

“I would agree that clients as a whole re­ally de­sire a more cus­tom­ized, tai­lored, com­pre­hen­sive fi­nan­cial plan­ning ap­proach,” Adams said. “I think this fun­da­men­tal shift started gain­ing mo­men­tum after 2008, when many in­vestors lost over half of their port­fo­lio val­ues.”

Adams, who of­fers se­cu­ri­ties through Ray­mond James Fi­nan­cial Ser­vices, Inc. Mem­ber FINRA/SIPC, said that his firm is fiercely in­de­pen­dent, putting clients’ needs first by sit­ting “on the same side of the ta­ble” as they do. Adams added that he vowed to never work for a company push­ing spe­cific in­vest­ment prod­ucts.

Part of keep­ing clients at the cen­ter is mak­ing sure they feel con­fi­dent their money will last a lifetime and could sur- vive stress tests. To do that, Adams’ uses so­phis­ti­cated soft­ware that can test in­vest­ments against pre­dicted stresses – re­ces­sions, a col­lapse sim­i­lar to 2008, longterm ill­ness – or against in­vestor fears, such as liv­ing longer than ex­pected. Th­ese tests help Adams and his team fur­ther cus­tom­ize the ad­vice they pro­vide.

“It’s the ul­ti­mate prob­lem-solv­ing task we have to ad­dress as ad­vi­sors, that our clients don’t out­last their money … By the end of this sim­u­la­tion, clients know where they stand,” said Adams, a Cer­ti­fied Pub­lic Ac­coun­tant and Cer­ti­fied Fi­nan­cial Plan­ner ™.

Adams told The Suit that his team – which han­dles a di­verse clien­tele com­prised of house­holds, singer/song­writ­ers and pro­fes­sional ath­letes – per­forms th­ese sim­u­la­tions. “My com­pe­ti­tion doesn’t go to this level of de­tail- it’s what makes us dif­fer­ent,” he said. Adams and his team also pro­vide “white glove” treat­ment for ev­ery client, and en­joy hav­ing gen­uine con­ver­sa­tions with them and con­tin­u­ing to have those con­ver­sa­tions as sit­u­a­tions change and plans evolve.

Adams em­pha­sized, “I feel that fi­nan­cial plans are meant to be dy­namic, not static.”


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