By Donald Albach
As a fee-based Registered Investment Advisor, our team at Millstone Financial Group takes pride in delivering top-notch services to our clients while creating a personalized wealth management plan for each individual and their family. Working as independent advisors and fiduciaries, we provide experienced guidance that aligns with our clients’ specific needs and goals, always prioritizing their best interests.
If you’re seeking professional assistance for your finances, an independent advisor could be the ideal partner to help you create and sustain a financial plan for your family.
What Is an IFA?
An independent financial advisor (IFA) is a financial professional who works independently, free from ties to specific financial institutions or companies. This independence enables them to offer a broad range of financial products and services tailored to their clients’ needs. IFAs prioritize building long-term client relationships, motivated by their success being directly linked to the satisfaction of their clients. They also adhere to regulatory standards, including fiduciary duties so that their clients’ best interests are always the top priority.
It’s essential for people seeking financial advice to understand the business model of their financial advisor, whether independent or affiliated with a larger institution, and to choose an advisor whose approach aligns with their financial goals and values.
Benefits of IFAs
Millstone Financial Group is fee-only; we don’t earn money from any type of kickback or commission for recommending certain securities or investments. With us, you don’t have to wonder what you’re paying or worry about conflicts of interest.
Being an independent financial advisor can offer several benefits to clients compared to advisors who work for large financial institutions:
Objective advice: Independent financial advisors are not tied to specific financial products or services from a particular institution, which allows them to offer more objective advice tailored to the client’s needs and financial goals.
Client-centric approach: Independent advisors typically focus on building long-term relationships with their clients. Their business model relies on client satisfaction and retention, so they are often more motivated to prioritize the client’s best interests.
Flexibility: Independent advisors often have more flexibility in terms of fees and service structures, which allows them to adapt their services to the specific needs and preferences of clients.
Responsive and accessible: Independent advisors typically run smaller practices, making them more accessible to clients. This can result in more responsive communication and a greater focus on the client’s concerns and questions.
Transparent fees: Independent advisors may have transparent fee structures, which can be beneficial for clients who prefer a clear understanding of how their advisor is compensated. This transparency helps build trust between the advisor and the client.
Continuity of service: Independent advisors often have more control over their practices, reducing the likelihood of frequent changes in personnel. This can provide clients with a sense of continuity and stability in their financial advisory relationship.
It’s important to note that the effectiveness of an independent financial advisor ultimately depends on their skill, experience, and commitment to acting in the best interests of their clients. Clients should conduct due diligence when selecting an advisor and choose someone who aligns with their financial goals and values.
The Millstone Awareness Analysis
Our custom analysis is designed to help you see how your current retirement plan is working for you, where you can improve, and which opportunities you need to capitalize on. We do this through a 5-point evaluation of your current retirement plan and finances, assessing the following:
- Your current retirement income versus expenses, including healthcare
- Where your assets are allocated, as well as your level of risk and liabilities
- The total investment and management fees you are currently paying
- The estimated tax burden on your retirement portfolio
- Your Social Security payments and how they fit into your overall strategy
Creating a Custom Strategy
At Millstone Financial Group, we offer advice tailored to align with clients’ individual goals, adapting our financial plans to accommodate all of life’s changes. Our practice thrives on trust and mutual respect, building lasting partnerships with clients who value having a dedicated advocate in their financial corner.
If you’re looking for personalized and reliable financial guidance, we invite you to schedule a conversation by reaching out to me at (732) 385-8544 or emailing dalbach@millstonefinancial.net.
About Don
Donald Albach is President and Co-Founder of Millstone Financial Group, an independent financial advisory firm helping pre-retirees and retirees pursue their retirement goals. Don has over 26 years of experience in the financial industry and focuses on retirement planning, designing retirement income planning strategies to guide his clients toward financial independence. Don graduated from Norwich University, the nation’s oldest private military college, and has worked his entire career in the financial services industry, including First Boston, MetLife, and C&A Financial Group. He co-founded Millstone Financial Group in 2012 with Michael Russo. Don and Mike met each other while working at MetLife, and in 2003 both he and Mike were recruited to work at C&A Financial Group, where they spent the next 10 years. It was at C&A Financial Group where they decided they needed to start their own company that strictly focused on retirement income planning. They both had a desire to help people navigate the complexities of retirement and created Millstone Financial to do just that.
Don currently lives in Monroe Township, NJ, with his wife, Tina, to whom he has been married since 1992. They have three children together: Paige, Donny, and Ally. Don’s two passions are sailing and watching college football, and he also enjoys cooking Sunday dinner for his family. To learn more about Don, connect with him on LinkedIn.
Advisory services are offered through Millstone Financial Group Limited Liability Company, a Registered Investment Advisor in the State of New Jersey. Insurance products and services are offered through Millstone Financial Group Limited Liability Company. Millstone Financial Group Limited Liability Company is not affiliated with or endorsed by the Social Security Administration or any government agency.
All material discussed is for informational purposes only. Opinions expressed are solely those of Millstone Financial Group Limited Liability Company and staff. All topics covered are believed to be from reliable sources; however, Millstone Financial Group Limited Liability Company makes no representations as to its accuracy or completeness. Investing involves risk including the loss of principle.
This article shall in no way be construed as a solicitation to sell securities or investment advisory services to residents of any state other than New Jersey, or where otherwise permitted. All information and ideas should be discussed in detail with your individual adviser prior to implementation.
This material is intended to provide general financial education and is not written or intended as tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.
