Why “Opulent Wealth”?

Opulent is derived from the Latin word “opulentus” meaning wealthy. We want to help our clients achieve a level of abundance that goes beyond mere financial stability. Our services are aimed at helping clients achieve a plentiful and prosperous lifestyle, instilling optimism and excitement about their financial journey.

What can Opulent Wealth do for me?

We serve as a trusted partner in helping you navigate the complexities of personal finance, making informed decisions, and working towards a secure financial future. We understand the hustle and bustle of life between work and raising a family. We aim to simplify our clients’ responsibilities by quarterbacking the overall financial gameplan. Our goal is to give you peace of mind knowing your finances are in good hands so that you can focus your attention and energy on what matters most to you.

What is Opulent Wealth’s investment philosophy?

At our core, we invest for the future to target long-term success. We also understand investors have distinctive goals and varying time horizons. That’s why we work closely with our clients to determine individual ambitions and risk tolerance levels to formulate a customized strategy that best addresses specific objectives.

What is a fiduciary duty?

At Opulent Wealth, we are bound by a fiduciary duty. A fiduciary is legally and ethically obligated to act in a client’s best interests at all times when providing financial advice. This combination ensures recommendations are unbiased and solely focused on what is most beneficial for a client. This is a step beyond the suitability standard where recommended investments may be suitable for a client but may not be in a client’s best interests.

How do you, as a financial planner, receive compensation?

Opulent Wealth is a fee-only investment adviser. This means that our clients are charged a direct fee, without any commissions involved, usually calculated as a percentage of the assets under our management. We bill quarterly and generally deduct our fees directly from our clients’ investment accounts at the custodian of record. Many advisors designate themselves as fee-based, which is not fee only. Fee-based advisors often charge both fees and commissions on their services. We have chosen to be fee-only in order to ensure we are giving unbiased recommendations that are solely focused on what is best for a client.

What is the difference between fee-only, fee-based and commission-based advisors?

Fee-only, fee-based, and commission-based financial advisors are terms that describe how financial professionals are compensated for their services. Here's a breakdown of each:

1. Fee-only: Fee-only advisors are compensated solely by the fees they charge their clients for the services they provide. They do not earn commissions or any other form of sales-related compensation from financial products they recommend. This compensation structure is often considered more transparent and less conflicted as there is no incentive to recommend certain products over others. Opulent Wealth is proud to be a fee-only advisor.

2. Fee-based: This type of advisor may charge fees for their services, but they may also earn commissions or other sales-related compensation from selling certain financial products. This model has the potential for increased conflicts of interest as an advisor could be incentivized to recommend certain products that may pay them commissions.

3. Commission-based: These advisors earn their income primarily through commissions they receive from selling financial products such as insurance policies, mutual funds, or annuities. They typically do not charge fees directly to clients for their advice. Commission-based advisors may face conflicts of interests as recommended investment products may generate higher commissions, which may not always align with the client's best interests.

When choosing a financial advisor, it's essential to understand the compensation structure and how it might influence advice provided. Clients may consider factors such as transparency, potential conflicts of interest, and how the advisor's compensation aligns with their own financial goals.

What is your fee schedule?

Opulent Wealth offers comprehensive financial planning and investment management services based on the following fee schedule and subject to a $6,000 minimum fee:

• 1.00% on assets under management up to $1.5 million, plus

• 0.50% on assets under management from $1.5 million to $7.5 million, plus

• 0.30% on assets under management over $7.5 million

Our fee structure is a blended tier model. If a client has $1.6 million in assets under management, they will pay 1% on the first $1.5 million and 0.5% on the next $100,000. We value ongoing, long-term relationships with clients and are not involved in one-off, project-based consultations.

Do you work with younger individuals and families?

Yes! We understand not all investors have accumulated substantial resources at the current stage in their life. We still want to help you reach your goals. Ask about other potential service options that may be available to you.

Do you prepare tax returns?

We utilize our tax and accounting expertise to benefit our clients. While we help optimize tax planning for our clients and can assist with reviewing returns and preparing projections, we do not prepare tax returns. Instead, we collaborate closely with our clients' accountants, attorneys, and other professionals to provide the necessary information and support for tax preparation. We believe focusing on our core services is essential and avoids diluting our expertise with seasonal tax preparation.