FINANCE & WEALTH MANAGEMENT
Moss Adams Wealth Advisors LLC 2121 Rosecrans Boulevard, Suite 2390 El Segundo 310-616-3460 mossadamswealthadvisors.com
“It’s essential for families and business owners to have an advisor who understands the unique aspects of their business, personal finances and—perhaps most importantly—their goals.”
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oss Adams Wealth Advisors helps busy families and business owners meet their financial goals; make informed decisions; and integrate their financial, investment, tax, estate trusts, insurance, real estate and charitable giving into one plan. Principal financial advisor Jim Schlager is one of 260+ partners at Moss Adams. A Manhattan Beach resident, Jim has worked with South Bay residents for the past 25 years to help them meet their financial goals. He joined the company in 1995 as part of Financial Security Group, which merged with Moss Adams in 2000. Later he moved from Seattle to Manhattan Beach to open the Los Angeles Private Clients practice. Jim graduated from Washington State University, and over the years he completed his master’s degree in financial planning and earned the CERTIFIED FINANCIAL PLANNER™, Chartered Life Underwriter (CLU®), Chartered Financial Consultant (ChFC®), and Certified Trust and Financial Advisor (CTFA) certifications. He also holds Series 6, 7, 24, 63 and 65 securities licenses. Describe your ideal client. “We help individuals and families— including families who own businesses— build long-term financial security, cultivate multigenerational wealth and address their complex needs. Our ideal client is someone looking to his or her portfolio for long-term financial security without the roller coaster ride. He or she aspires to meet specific, defined financial goals. We believe clients already have enough risk with their business or investments tied up in a private equity fund and shouldn’t have to worry about daily returns as well. When working for our clients, we believe that volatility in any market is good if you’re prepared. The key is structuring your business or family finances in a way that allows you to take advantage of equity, real estate, government policy changes and industry trends. What you don’t want to do is back yourself into a corner, leaving you without options.” Is there a point of differentiation when it comes to your services? “Families who own a business might find it difficult to keep up with the increasing complexity of both their business and personal finances. We help by maintaining a holistic viewpoint of a client’s finances and coordinating all aspects of their financial portfolio.”
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SOUTHBAY, MAY/JUNE 2017
How in-depth do you get in learning about clients’ financial affairs? “We get pretty immersed. It’s essential for families and business owners to have an advisor who understands the unique aspects of their business, personal finances and— perhaps most importantly—their goals. Ultimately we help our clients make informed financial decisions.” How do you think robo-advisors will impact wealth management firms? “Robo-advisors are the latest financial technology mousetrap in the market. Every business—whether a wealth manager or a widget company—needs to define its value proposition and what differentiates it from competitors. Robo-advisors will take few clients away from valuable wealth managers who can execute on what they say they’ll do for their clients. However, they could be a problem for advisors who are simply asset gatherers. I think the days of wealth managers who charge 1% or more to solely manage their clients’ money are coming to an end. Clients are looking for solid money management and want an advisor who can provide advice and guidance on myriad financial issues for that same fee. Robo-advisors aren’t one-size-fits-all, and their fees can range from fairly low to high. A robo-advisor also isn’t going to sit across the desk from you and coordinate your investments, income and estate tax issues, business, charitable giving or other financial facets of your life. That said, consumers and wealth management professionals should welcome this new platform because it will force advisors to fine-tune their value proposition and cause clients to re-examine what they’re getting for the fee they pay, which is good for everyone.” What are your top five tips for investing? “(1) Always have a written plan. You’re more likely to achieve your goals with a written plan. (2) If the fundamentals of why you invested in something in the past still hold true today but the investment has gone down, talk to your advisor about buying more. (3) Structure your investments to take advantage of market and industry dislocations. (4) Know what return you need to achieve financial independence goals—goals that, when achieved, ensure you can live the lifestyle you want without worrying about money. (5) Save and invest. Wealth creates more wealth.”
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