Wealth management is deeply personal and often involves multiple trusted advisors, including attorneys, accountants, investment consultants, estate planners, and family office professionals. At HBKS, we don’t just welcome these relationships, we specialize in integrating and coordinating them to ensure all aspects of your financial life align with your goals. Our expertise in managing these complex, multi-advisor relationships is a key reason clients entrust us with this role.
A Client’s Journey: From Big Banks to a Tailored Approach
One recent example is a client who relocated from the Midwest to Southwest Florida. He initially engaged one of our partner CPAs at HBK CPAs & Consultants for tax planning and filings. At the time, he had two of the large banking firms handling his investments and was looking for something less rigid than the bank models. Their options were limited to the investments on those banks’ platforms, constrained to the list of equities they have. As an independent firm, our priority is identifying best-in-class investment managers for each asset type, regardless of affiliation.
Many big banks also have their own proprietary products, so they are incentivized to sell those. Some of those are very good products; we use some of their funds when they are in a particular area.
The client recognized our distinct approach and, over time, transferred more assets to us and named us his lead advisor. While he retains one of his previous arrangements, he allows us to guide their decisions, in essence as the family’s chief investment officer or CIO. For instance, if we determine he is overexposed to large-cap equities, they execute the necessary adjustments based on our recommendations.
Collaborative and Accountable Wealth Management
As the lead advisor, HBKS orchestrates advisor meetings, presents comprehensive financial overviews, and coordinates input from other professionals. While other members report on what they’re doing, we are aggregating and advising on the global picture. This holistic approach ensures that each advisor aligns their strategies with the client’s broader financial vision ensuring the best end result.
Holding all advisors accountable fosters a high standard of diligence. Sitting across the table from other advisors requires everyone to be on the same page. When conflicts arise, they often present opportunities to explore alternative solutions, ultimately leading to more effective and collaborative decision-making.
In this case, we manage approximately 20 to 25 percent of the client’s assets, but our role extends far beyond investment management. We provide guidance on estate and legacy planning and oversee tax planning and compliance for their trusts and businesses.
The Go-To Firm for Comprehensive Financial Guidance
The breadth of our services sets us apart from other advisors. Clients view us as their primary resource, not just for investment decisions, but for a wide range of financial matters, from issues as simple as negotiating car loans to more complex insurance and tax questions. Their HBKS advisor is their first call, and we ensure they receive accurate and timely information.
Clients also value our transparent fee structure. Regardless of the additional services and expertise we bring to the table, our fees remain based on the assets we manage, ensuring clarity and fairness.
What We Do as the Leadership of Your Financial Team
- Strategic Coordination: We ensure that all advisors work cohesively, eliminating inefficiencies and ensuring every decision aligns with your broader financial vision.
- Streamlined Communication: We serve as the central point of contact, consolidating input from all advisors to prevent conflicting strategies.
- Holistic Oversight: With a comprehensive view of your financial landscape, we proactively identify opportunities and risks that might be overlooked if advisors operate in silos.
- Enhanced Decision-Making: By integrating insights across disciplines, we optimize financial, legal, and tax strategies to support your long-term objectives.
- Unbiased Collaboration: Our goal is to enhance—not replace—your trusted relationships, ensuring every advisor contributes their expertise in the most effective way possible.
By choosing HBKS, you gain a dedicated partner who not only manages investments but also ensures that every aspect of your financial life works in harmony. Our collaborative approach provides peace of mind, knowing your wealth is being expertly guided toward your goals.
The information and examples included in this document are for general, educational, and informational purposes only. It does not contain any financial or investment advice and does not address any individual facts and circumstances. As such, it cannot be relied on as providing any financial or investment advice. If you would like financial or investment advice regarding your specific facts and circumstances, please contact a qualified financial advisor.
Any investment involves some degree of risk, and different types of investments involve varying degrees of risk, including loss of principal. It should not be assumed that future performance of any specific investment, strategy, or allocation (including those recommended by HBKS Wealth Advisors) will be profitable or equal the corresponding indicated or intended results or performance level(s). Past performance of any security, indices, strategy, or allocation may not be indicative of future results.
The historical and current information as to rules, laws, guidelines, or benefits contained in this document is a summary of information obtained from or prepared by other sources. It has not been independently verified but was obtained from sources believed to be reliable. HBKS Wealth Advisors does not guarantee the accuracy of this information and does not assume liability for any errors in information obtained from or prepared by these other sources.
HBKS Wealth Advisors is not a legal or accounting firm, and does not render legal, accounting or tax advice. You should contact an attorney or CPA if you wish to receive legal, accounting or tax advice.
