How do I know if I'm a good fit for Drucker Wealth?
You're a high income earner with very little free time/energy, and are looking for a tax-focused financial planner to help you reach your financial goals quicker, more efficiently, and with less headache than you could do on your own.
You want to work with a firm that specializes in working with Mid-Career (35-55) High Income Earning Individuals and Families with competing financial priorities and expensive financial goals.
You are looking for a trusted partner to coach you through major life events (buying a home, having children, changing jobs, etc.), and want to talk through different scenarios as your life evolves.
If this all sounds like you, well, we don’t believe there is a better firm for you to be working with than Drucker Wealth!
Is Drucker Wealth a Fiduciary?
Yes, Drucker Wealth is a fiduciary, which means we have a duty to operate in the best interest of each and every client. Not all financial advisors & brokers operate under a fiduciary standard – and, while we think this should be the expectation for someone that handles your money, it isn’t.
The fact that we are a fiduciary is NOT the reason to hire us (it’s really the bare minimum in our eyes)...but you shouldn’t consider anyone that isn’t!
As an aside: no advisor (or professional in any business, for that matter) is 100% free of conflict (you should probably run from anyone who claims they are) but we do our absolute best to minimize these conflicts and to always be transparent about those that are unavoidable when they are present.
How do you get paid?
We create Financial Life Plans® for a flat fee that ranges depending on the complexity of your situation. We make objective, actionable recommendations that you can choose to implement with our firm or anywhere you feel comfortable. After the plan, if you would like to become an ongoing wealth client, we would charge an asset under management fee for our bundled financial planning, tax planning, and investment management services. Tax filing services are offered by our sister firm, Drucker Tax, and is only available to Drucker Wealth Ongoing clients for a separate fee.
If you choose to work with us after your Financial Life Plan is complete, we may receive commission from some of the elements of your plan we implement...we don’t think “outsourcing” any part of the plan, regardless of the payment structure, is in your best interest.
Will you manage my assets?
If you would like to become an ongoing client after the initial financial plan, then, yes, we would manage your investment assets as part of the relationship.
We are a comprehensive, full-service firm- we believe we can only do our best work if we oversee ALL aspects of your planning: investment management, financial planning, and tax planning. As such, we do not offer “one-off” plan updates, hourly consulting, or any other ongoing planning structure without investment management as a component.
A quick reminder: Committing to go through the initial Financial Life Plan® engagement does not require you to hold any of your investments with us.
Do you have a minimum account size?
We do not have a minimum account size, but we do have a minimum household fee to ensure that all clients receive the same core services and that our larger clients aren’t subsidizing our smaller client relationships. This fee is currently $7,500 annually.
So, for example, if a client only has $500k of assets but wants our ongoing services, we would charge them $7,500 annually as a flat fee until they cross $750,000 of assets under our management, at which point they will move to our regular fee schedule.
We have plenty of clients who have done this as they grow their assets to this “minimum” amount.
Where do you custody assets?
We use well-known third-party custodians to custody & safeguard our clients’ assets.
We use Altruist LLC and Fidelity as our chosen partners.
Unlike advisors that work “for” a custodian (IE: they are a “Fidelity advisor) or work for a bank, insurance company or other big box firm...Drucker Wealth is an Independent Adviser and can partner with ANY third-party custodian, technology platform, or investment funds that we believe make the most sense for OUR clients.
What’s your investment philosophy?
We believe that owning a globally diversified portfolio of equity (stock market) investments is the surest way to grow your wealth and outpace inflation and that the single most important decision an investor has to make is in their relative allocation to stocks compared to bonds, cash or any other asset class. We believe that markets are efficient and attempting to “beat’ the stock market through active stock selection is both impossible AND unnecessary towards reaching your investment goals.
We are therefore passive investors and are focused on increasing after-tax returns through tax-focused strategies like asset location, tax loss harvesting, custom indexing, and drift-based rebalancing.
We primarily use Vanguard & Dimensional Funds as our chosen investment funds because they are low-cost, tax-efficient, and have a proven track record.
Why do you talk so much about behavioral finance?
Personal finance is a lot more personal than finance. The best tax strategies, investment vehicles, and estate structures don’t mean much if the cost of your goals outpaces your income, if your spending inflates higher than your saving rate, and if you’re constantly chasing the latest TikTok investment or tax fad!
We like to focus on what we can control and spend zero time thinking about what we can’t. As such, we do not prognosticate about the markets, individual stocks, or the next 6 months...we exclusively focus on saving & investing in ways that have stood the test of time.
Who will I be working with?
Every client of Drucker Wealth works with a specific advisor team. They have their lead financial planner who runs the relationship, their associate financial planner who supports the relationship, and their client service lead who helps make sure everything that’s spoken about gets done!
This three-pronged approach is what allows us to maximize our client experience and to make sure we can sustain the high level of client service that we are known for.
We also have also built an exceptional in-house team of CPA’s & Estate Experts that partner with you and your advisor team throughout the year.
Why can’t I do it all by myself?
You probably could. The question is...why would you want to?
Our clients are high-performing professionals and are GREAT at what THEY.
They know that time is the most precious commodity they have and LOVE the power & leverage that comes when delegating day-to-day management to trusted professionals.
More directly, you only have one chance to make most major financial, investment, and tax decisions...We do this with our clients EVERY DAY. We have been creating financial plans for the past 65 years and it is the ONLY thing we do...we spend 24/7 reviewing, revising and implementing financial, tax, and investment programs.
Quite simply, our clients hire us because they know the value we provide will be in excess (by a multiple) of what they pay us.
Becoming “wealthy” is about 3 things: Increasing your net worth, gaining back you time, and preserving your energy & attention.
This is why clients hire us.
Do you meet with your clients in person or virtually?
We have been in business since 1959, and we’ve had the same phone number for 3 decades. As such, we KNOW there are certain core philosophies, money stories, and timeless lessons that hold up over time.
Needing to meet in person is NOT one of them!
We conduct all our meetings over Zoom: We have clients (and team members) all around the country, and your financial planning portal is our “office.” The move to virtual meetings is a wonderful thing. You no longer need to work with the advisor who is “geographically convenient." Instead, you can work with an advisor who specializes in EXACTLY what you are looking for.
What are your qualifications?
Our team is made up of some pretty awesome and intelligent individuals. Our team is comprised of the following professionals:
- 5 Retirement Income Certified Planners® (RICP®)
- 5 CERTIFIED FINANCIAL PLANNERS™ (CFP®)
- 2 CPAs
- 1 Personal Financial Specialist (PFS™)
- 1 JD
- 1 Chartered Life Underwriter (CLU®)
- 1 Chartered Financial Educator (CFEd®)
- 1 Chartered Financial Consultant (ChFC®)
Have a question that we haven't covered here? Send us a message!
