My wife and I are both up for partner / MD level roles at our respective firms this year and are wanting to start looking at a better financial adviser / tax planner. Any ideas on where to start to find someone? I’m torn between the security of a named firm or finding a really good trusted individual and what level of fees is reasonable.

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Talk to those in your network (partners who are sponsoring you are good starts). A personal referral is the best starting spot.

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Congratulations on being up for Partner. Would love to know how you did it. One rung below and have been there for 10 years so obviously, not going to happen. Might add I have had stellar reviews based on our ratings scale. Perplexes me and I have never gotten a straight answer

Why not manage yourself and park in SPY and QQQ?

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If you’re at Deloitte once you’re promoted, you’ll have access to preferential relationship status at the number of different firms. Talk to a partner in your group if you want more details. You can DM me also and we can off-line it.

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Thanks, this is very helpful - will follow up if my immediate PPMDs can’t help.

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My wife and are are happy with northwest mutual. They work with all the big 4 and know how to build a portfolio that complies with our different audit restriction’s

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NW Mutual will find you and reach out. You don’t even need to do anything.

However, for what it’s worth, I would actually ask you to:
1) take a little bit of time to understand partner comp and investment options
2) be slow to agree to anything that is not >80% invested in broad equities
3) ask about the cost(s) of the advice you’re getting - in writing
4) understand all the basic investment vehicles properly (HSA investment options, Roth 401(k), MBDR, the difference between mutual funds, index funds, & ETFs, etc).

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We tried intro discussions at a bunch of firms and were not impressed. Lots of things we already knew or were doing. I think asking others at your new level for recommendations is the best

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Hey there - can’t help but respond here.

I used to work at BCG but as of 5 years ago partner with a financial firm as a wealth advisor. There are a ton of things to consider when choosing who to work with. In regards to your investment opportunity, we recommend staying away from the large, corporate, cookie-cutter firms. You can’t get the returns you deserve because of ”home office” not letting the advisor invest your portfolio the way it should be (we win so much business off of this factor alone).

You also want CPAs in house working with your team of advisors. Otherwise you have both sides competing within your financial plan. This also means your CPA and advisor are talking often to ensure your plan is maximizing any tax opportunities throughout the year.

Finally, we recommend working with a team younger than you, so you know they will be working hardest for you when it matters most (aka retirement) vs stepping into retirement at the same time as you.

Please DM and we can at the very least talk through the differences listed above in more detail before you decide. It’s a massive decision as you’re hopefully picking a team to partner with for the next 30+ years and one you should make with as much information as possible.

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Thanks for this and would be happy to chat!

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My former firm actually paid for half the fees of a financial planner which was a nice benefit and made sure we had a planner who understood how our partner compensation worked. I’ve stayed with then planner even though I’ve changed firms.

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Our advisor also does our taxes and our pay and equity plan was unique and created some interesting challenges.

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Google it

Aaron Scissors at Morgan Stanley has been great.

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