Plan­ning is for Ev­ery­one

The Suit - - Cover Story -

Em­power Wealth Ad­vi­sors, in con­junc­tion with their bro­ker/dealer Com­mon­wealth Fi­nan­cial Net­work, uses so­cial me­dia plat­forms – in­clud­ing Twit­ter, LinkedIn and Face­book – to con­nect with a new and younger au­di­ence.

Chris Pow­ers, man­ag­ing part­ner of the fi­nan­cial ad­vi­sory firm, cited re­cent re­search re­port­ing that only 4 per­cent of chil­dren use the same fi­nan­cial ad­vi­sor as their par­ents. While Pow­ers sees that as a disturbing statis­tic, he also iden­ti­fies it as an ex­cit­ing op­por­tu­nity to con­tinue the growth of his own prac­tice by be­ing of ser­vice to an up and com­ing gen­er­a­tion.

“A top goal for us is reach­ing out to our clients with chil­dren who are start­ing their fi­nan­cial life, pre­par­ing them for po­ten­tial in­her­i­tance and get­ting them set up with a firm fi­nan­cial foun­da­tion,” ex­plained Pow­ers, as he out­lined growth strate­gies for his firm. “In a lot of high schools – and even col­leges -- kids come out so ill-pre­pared, or un­der-pre­pared, for man­ag­ing their per­sonal fi­nances.”

In 2000, Pow­ers started the firm with a fo­cus on in­surance and in the en­su­ing years he con­tin­ued his pro­fes­sional de­vel­op­ment to be­come a Cer­ti­fied Fi­nan­cial Plan­ner™ (CFP), an Ac­cred­ited Es­tate Plan­ner® (AEP), and an Ac­cred­ited In­vest­ment Fidu­ciary® (AIF). Em­power Wealth Ad­vi­sors pro­vides a holis­tic ap­proach to wealth man­age­ment, in­clud­ing re­tire­ment plan­ning, business plan­ning, es­tate plan­ning and risk man­age­ment.

In­vestable as­sets and ac­count min­i­mums typ­i­cally de­fine a fi­nan­cial ad­vi­sory firm's clients. Em­power Wealth Ad­vi­sors, based in San An­to­nio, Texas, uses broader cri­te­ria, en­gag­ing with clients who want com­pre­hen­sive plan­ning and un­bi­ased ad­vice. For in­stance, they de­sign es­tate plan­ning strate­gies for farm and ranch own­ers and the firm is very in­volved with own­ers of oil and gas in­ter­ests in Ea­gle Ford Shale – a ma­jor eco­nomic ini­tia­tive that is “re­defin­ing South Texas as an oil in­dus­try hot­bed.”

As a bou­tique fi­nan­cial firm ded­i­cated to pro­fes­sional and per­son­al­ized ser­vice, Em­power Wealth Ad­vi­sors makes it their goal to help peo­ple re­duce the stress as­so­ci­ated with man­ag­ing their fi­nances. “After sev­eral years of re­cov­ery fol­low­ing the 2008 mar­ket de­cline, peo­ple ap­proach­ing re­tire­ment are more ap­pre­hen­sive about mar­ket risk. They want so­lu­tions that min­i­mize their risk ver­sus fo­cus­ing on ex­cess re­turns cre­ated by man­agers,” said Pow­ers, com­ment­ing on the cur­rent mood of in­vestors. “Clients are will­ing to give up liq­uid­ity with a por­tion of their port­fo­lio to invest in more al­ter­na­tive in­vest­ments and seek more cus­tom­ized so­lu­tions for their re­tire­ment in­come needs.”


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