There are legions of wealth management professionals who are ethical and well-intentioned. These people will understand the basics of your situation, risk profile and financial needs as they sit right now, and will recommend a plan on the basis of the best information you can provide. But:
The flaw is that to reliably improve your wealth these people need to be intimately acquainted with and regularly updated on every intricate aspect of your working and personal worlds – and it is impossible to do so in isolation. Working at arm's length in the absence of current information is the greatest challenge they face.
Wealth improvement is seriously more effective when your advisor is intimately acquainted with every aspect of your world and has access not only to your current data, but also interacts with the accounting, tax, enterprise development, risk management, finance and any other professional service personnel you might be working with. Realistically, this only can happen under one roof.
No two worlds are the same. Lucian Roncon’s start was as an usher in a theatre. He morphed through childcare, and now is a property developer. Greg and Alison Gibson stuck to their calling as regional motorcycle dealers and repairers, whose profits were put to work.
As a business, we talk a lot about the disciplines of saving and investing and starting the wealth creation process early in one’s working life. But rarely have we found that it is too late, and neither are we unrealistic in our expectations.
We also speak of our "culture of care" and this is particularly potent in wealth improvement – given that people can become quite reliant not only on sound advice and regular review/communication, but also on a measure of emotional support.