PHILADELPHIA, Feb. 6, 2020 /PRNewswire/ -- Wedmont Private Capital (https://wedmont.com/) recently announced the launch of its tech-enabled alternative to the traditional model of private wealth management. Founded by Credit Suisse and Vanguard alums, Wedmont was engineered specifically for high-net-worth (HNW) investors who no longer wish to be charged exorbitant fees.
Said Co-Founder Dominic Corabi, "It's a game-changing model. We've long believed that the traditional model of private wealth management was overdue for a restructure. Wedmont is our answer."
Wedmont: No more tax-like AUM fees
Almost all financial advisors charge assets under management (AUM) fees, in which clients pay a percentage of their assets to their advisor every year. As a portfolio increases in value, so does the corresponding fee. Just just like a wealth tax, clients pay more only because they have more, not because their advisor is providing additional value. For wealthy families, these AUM advisory fees can approach and surpass six figures on an annual basis.
Wedmont, who works with clients with more than $1,000,000 in investable assets, has changed this paradigm. By charging a flat $10,000 annual fee, regardless of the size of the client portfolio, Wedmont provides much-needed transparency to HNW investors. Over the long term, this flat fee may enable clients to accumulate significantly more wealth than they would have amassed working with a traditional AUM advisor.
Wedmont: A tech-enabled approach to private wealth management
Wedmont was built from the ground up to put clients first and to improve the experience of working with a full-service private wealth manager. Wedmont's unique platform includes the following:
Wedmont: An industry first ? free direct indexing
Included in its flat fee, Wedmont offers direct indexing to all clients. Direct indexing, in which individual client portfolios are designed to replicate a broad market index, allows clients to take advantage of normal movements in the price of individual stocks in order to proactively harvest tax-losses. These tax-losses are passed to the client, who can use them to offset capital gains and income taxes.
Direct indexing is an increasingly popular strategy for HNW investors, but it typically includes an additional fee. Wedmont provides direct indexing at no additional fee and without any trading costs.
About
Wedmont Private Capital is a Registered Investment Advisor providing private wealth management services to individuals and families with investable assets in excess of $1,000,000.
Media Contact:
James Pelletier
Wedmont Private Capital
610-885-8200 x115
SOURCE Wedmont Private Capital
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