We’re starting 2015 with great news! We are excited to announce the formal launch of our sister company, Wela, which is a digital advisory firm. We launched Wela with the idea that we are bringing a solution to financial industry based on trends and the feedback we received from you—our clients and our friends—about creating a service that could address the needs of some of your children, friends, or family members who need financial advice but may not have a large initial investment.
While our new platform just launched, we’ve actually been using our investment strategies that we’re implementing under Wela Strategies with clients for several years now. Our goal with the launch of this sister firm is to be part of the solution, not the problem. We believe the young or beginner investors should have access to high quality investment advice, and be able to start investing whether they have $5,000 or $50,000.
Our sister firm, Wela, will offer free financial advice to all users. Users can access a financial advisor for specific questions and set up a game plan based on their financial life events. Users can also access all of the financial planning tools on these sites at no charge. In both cases, fees are incurred only if a user decides to become a client of the advisor’s paid financial advisory services.
Wela starts their annual fee schedule at 1% for an account size of $0 – $250,000 and fees are reduced as the amount of the account size increases.
If you have friends or family that may benefit from this type of service, here are a few things that will help them determine if a digital advisor is right for them.
•The investor doesn’t meet the high minimum requirements of a traditional financial planner (typically $500,000 more more in assets)
•The investor wants professional management and advice with their investments
•The investor wants to create a global view of all their finances (investments, mortgage, credit cards etc.)
•The investor is comfortable with their interactions being primarily online and mobile
Investors now have more options than ever to invest and manage their finances with professional help. No more excuses of, “I’ll get started investing next year.”