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At Q4 Wealth Management, we have a very thorough step-by-step process set to keep clients on track through our comprehensive wealth management model. Our process begins with what we term a “Discovery Meeting” and then utilizes regular progress meetings, rediscoveries and working with an “Expert Team” to evaluate and plan for our client’s needs.
What is the Discovery Meeting?
The Discovery Meeting is an essential component to beginning our process. The Discovery Meeting is a two-way conversation about the client’s values, goals and objectives and helps us move through our process of determining the best course for each individual client. Q4 Wealth Management does not have a blanket plan for all clients; instead, we create individual plans that are tailored specifically to the needs and desires of each client.
What comes after the Discover Meeting?
The next step of our process is a diagnosis of the client’s current situation, creation of a strategic investment plan and the various steps that will help the client achieve their goals. Once our strategic investment plan has been created, we present it to the client and move forward to a commitment of working together to put the plan in motion.
The 45 Day Review.
Our 45 Day Review is an opportunity for us to review the transition process while answering any questions the client may have. Our goal is to make the process as stress-free and comfortable as possible. At this time we will also be doing a comprehensive evaluation of investment, tax, legal and insurance needs.
Working with an Expert Team.
We provide each client with a team of highly experienced professionals specializing in key financial areas. This team will meet regularly to evaluate and plan for the client’s needs.
As the process continues, we have regular Progress Meetings.
Our regular progress meetings allow us to review progress against the client’s goals and objectives. We then determine and implement adjustments to the wealth management plan in order to invoke more progress.
Here is a visual representation of our process:
Q4 Wealth Management joins WomenGive as a Business Member in order to support women and children in Larimer County.
“We decided to join WomenGive for many reasons; the greatest of all is our strong belief in becoming self-sufficient and being able to care for yourself and others,” said Kris Clagett, Co-Owner and Financial Advisor at Q4 Wealth Management. “As one of three daughters, I was raised with the values of a strong work ethic, education, and self-sufficiency. Now, raising three daughters with my husband, we strive to instill those same values in our girls as they become young women and head out into the world.”
Since its foundation, WomenGive has awarded 267 childcare scholarships and has had 55 WomenGive graduates. WomenGive relieves the financial burden of childcare to single mothers who are furthering their education in order to become self-sufficient. WomeGive Business Members are businesses who have committed to donate $1,000 or more annually to the program.
Clagett added, “Life doesn’t always go according to plan and we have been blessed that when we hit a detour we were surrounded by supportive family and friends. We also had our education and careers to get us back on our path to achieving our goals. The women that WomenGives assists deserve all the support we can give them in order for them to achieve their goals while caring for their families. Their stories are inspirational and they are true heroes in my book.”
WomenGive is a partnership between United Way of Larimer County and The Women’s Foundation of Colorado. The Women’s Foundation of Colorado addresses the public policy issues related to self-sufficiency and United Way of Larimer County brings the leadership, resources and knowledge-base of the nonprofit community to this important work.
WomenGive provides financial assistance for childcare to single mothers attending college. The cost of childcare is a major barrier to self-sufficiency for women and girls in Larimer County.
John D. Clagett, CPWA®, of Q4 Wealth Management earned the Advanced Investment Strategist Certificate in Portfolio Management (AIS) in Seattle after attending a thorough and high-level educational course that took place April 29-May 1.
“Practices that are investing today to improve their investment management expertise and to really focus on getting on their CIMA® designation will be better positioned to appeal to this next generation of investors that are looking for alternative ideas, not just the cookie cutter approach that they could already do themselves on E-Trade,” said Sophie Louvel Schmitt, senior analyst with Aite who also attended the course.
“At Q4 Wealth Management, we know the importance of continuing education and obtaining certifications and accreditations that are valuable to the industry in which we operate. There are a lot of certifications floating around out there and some of them are very valuable while others are easily earned and hold no real educational value,” said Clagett.
To earn this certification, Clagett joined a select number of the North America’s investment advisors and some of the industry’s respected academicians and practitioners at the first Investment Management Consultants Association (IMCA®) AIS program. This collaborative and interactive event was limited to only 100 attendees, and provided high-level education that helps advisors more effectively manage client portfolios in today’s uncertain economy.
Clagett serves as President, Owner and Chief Wealth Advisor of Q4 Wealth Management, bringing twenty years of investment industry experience to his clients and the other professional advisors. Clagett holds the title of Certified Private Wealth Advisor®, an advanced credential created specifically for wealth managers who work with high net worth individuals and families focusing on the life cycle of wealth.
You’ll notice that different financial advisors and wealth managers usually have a variety of different letters behind their names that indicate various certifications. The question that stands is: are all certifications created equally? The easy answer is “no,” it is important to make sure that the letters following your financial advisor or wealth manager’s name count.
From the CFA (Chartered Financial Analyst) to the CPWA® (Certified Private Wealth Advisor®), certifications are important because they indicate that your financial advisor is continuing his or her education as a professional to become savvier in different areas of expertise within the industry.
In 2011, there were 118 “professional designations,” or certifications, according to the Financial Industry Regulatory Authority website, but only a few were geared specifically for wealth management and you can determine the amount of value associated with the designation based on how rigorous it is to obtain.
Here are some designations and what they mean to a client:
CPWA® (Certified Private Wealth Advisor®) is a widely-recognized title in the industry that represents an advisor has attained the education necessary to help guide sophisticated, high net worth clients through complex strategies related to tax management, monetization and protection of assets, growth, and transfer of wealth all according to a client’s goals and objectives.
CFP® (Certified Financial Planner®) and CFA® (Certified Financial Analyst®), are also well- respected titles, however they cover a more general life-cycle of wealth.
CIMA® (Certified Investment Management Analyst®) is often coupled with the CPWA® as they are both issued by the Investment Management Consultants Association. The Investment Management Consultants Association is a non-profit organization based in Colorado with a membership of over 8,000 financial advisers.
It is important to note that the designations and certifications that financial and wealth advisors carry aren’t regulated, but their use is monitored by state regulatory agencies, the SEC and FINRA.
What about the other 114?
If you’re looking to determine if the letters behind a potential advisor’s name are legitimate, it is best place to start is FINRA’s Professional Designations database.
The FINRA database provides information that can help you determine the value of a certification including the issuing organization, educational requirements, what type of exams are given, continuing education and experience requirements. FINRA, however, does not endorse or approve any designation and even having the designation listed does not mean that FINRA finds it acceptable for use by a registered representative.
FINRA also lists some helpful steps to picking an advisor on their Professional Designations database homepage under “Selecting Your Investment Professional”.
Fort Collins professional, Kris Clagett, recently earned the Series 7 License and the Series 66 License, adding Financial Advisor to her role with Q4 Wealth Management.
The Series 7 License, which is administered by the Financial Industry Regulatory Authority (FINRA), and the Series 66 License, which is administered by the North American Securities Administrators Association (NASAA), are both required in order to be a Financial Advisor.
“I have been working alongside my husband, John Clagett, CPWA, at Q4 Wealth Management for nearly seven years. This experience has provided me with knowledge but more importantly empathy around our clients’ concerns, needs, goals, and dreams for their futures,” said Clagett. “As a woman I am keenly aware of the pressures many women face when it comes to understanding investments and finding the space in a busy life to manage those investments.”
Personal and professional experience led Clagett to advancing her education in financial services and becoming a licensed Financial Advisor. Clagett, who up until her licensing was responsible for overseeing the business development, operations and client service areas, is hardly new to the industry.
“Kris is a wealth of information and she brings a lot of insight into the industry to the firm. I am very happy to have her beside me advising clients,” said John Clagett, CPWA, President, Co-Owner and Chief Wealth Advisor of Q4 Wealth Management.
Q4 Wealth Management serves many couples, families and single men and women, and encourages active participation in planning meetings by all clients.
“Many studies have found that while women make up less than half of the financial planning professionals in the United States, 70 percent of women would prefer to work with a woman advisor. That alone shows the value of having a female advisor within a firm,” said Susan Johnson, CPA and Shareholder at Brock and Company. “It is easier for a woman to establish a trusting relationship with another woman and trust is incredibly important between a financial advisor and a client. I feel that adding Financial Advisor to Kris’ title is very beneficial to Q4 Wealth Management as a whole.”
Through its partners, Q4 Wealth Management offers integrated wealth management for individuals, families, and small business owners. These services begin with investment consulting and progress through a variety of advanced planning techniques.
Q4 Wealth Management’s mission is simply to grow, enhance and protect its clients’ wealth. Q4 Wealth Management does this through managing the many areas of clients’ financial lives by proactively conferring with their team of investment, tax, legal, and insurance professionals to ensure progress is made towards their goals of accumulation, sustainability and transfer of assets. Q4 Wealth Management’s goal is to offer independent solutions to complex situations through counsel and education.
March 2008 opened with Barack Obama trailing Hillary Clinton by roughly five points in the democratic primary race. Later that month, J.P. Morgan announced plans to buy investment bank Bear Stearns, New York Governor Eliot Spitzer resigned in disgrace amid a prostitution scandal, and Bret Favre retired from the Green Bay Packers. Since then, Obama was twice elected president, JP Morgan’s net income is $21 billion ($5 billion greater than before the “Great Recession”), Spitzer recovered well enough to host two television shows, and Favre came out of retirement, played three more years, and retired again. Time changes things and not always in ways most would have predicted.
In the March 2008 Perspective, we focused on the common refrain that the US would hit a housing downturn that would slide into a free fall, causing the worst collapse in the country’s history. (You can read our response to this here.) It was, many said, unavoidable. Five years later, we see a vastly different picture.
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