Hourly wages fell as housing, manufacturing and the service industries showed signs of weakness – all considered positives for markets, which look far ahead. Now experts wonder if 2023 has a pause or a pivot in Fed policies. Annex Wealth Management’s Dave Spano and Derek Felske discuss.

In next week’s Axiom, we’re going to focus on taxes. The typical due date for filing taxes without needing an extension is April 15th.

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Audit the Financial Advice You’re Receiving

In the business world, audits are a harsh but necessary reality. Auditors try to cast light into every dark corner of the balance sheet to ensure a company is accounting for the source and flow of money.

This week, we suggest that you become the auditor. But instead of looking at a balance sheet, audit the financial advice you’ve been given. Here’s what you may find:

  • Some discover that much of their advice comes from people who are not financial professionals.
  • While you don’t need to ignore advice from friends and family, understand their financial background. Consider why they may be giving certain advice.
  • Friends and family who appear wealthier than you may not be. And even if they do have more money than you, that doesn’t mean their advice is good for you.
  • Even if the person you are talking to is a professional, they may not be focused on your best interest.

A previous study revealed that nearly half of Americans believe financial advisers are legally required to act in their best interest.

Unfortunately, that’s just not true. Most financial professionals are not required to always meet a fiduciary standard of care.

  • For those financial professionals who sell financial products, commissions can be hefty and may present a potential conflict of interest. A reputable financial professional will thoroughly present material conflicts of interest.
  • Professional designations and certifications are often seen as signs of experience or expertise.

Understand what each designation means and the requirements needed to obtain and maintain the certification.

Reputable designations such as CERTIFIED FINANCIAL PLANNER™ take years of studying and experience to obtain, whereas other designations can be obtained with little effort in a matter of days. Look for advisors with substantial and meaningful designations.

Your advice audit may be uncomfortable at times, but the payoff can result in greater peace of mind for you and your loved ones.


Kick Off 2023 With A Real Financial Plan

You don’t need a miracle; you need a plan. Schedule a 30-minute call with our team and find out how Annex Wealth Management can help you.

Schedule a Meeting


“On the radio you’re always saying to go fill out the Get Started Form. What exactly happens when I do that to start my relationship with Annex?” 

This is a great question. Before directly answering, it’s important to know that the relationship with Annex Wealth Management really begins before the Get Started Form is even filled out! It starts when someone recognizes they’re in need of financial help, or perhaps considering a change in their current advisor.  

Spurred on by that need, people often research on their own. Whether it’s listening to our radio show, searching the internet for financial advisors, reading or viewing insights on any number of platforms, or hearing about Annex through friends or family, folks are often aware of us and comfortable with our offering before making the decision to fill out the Get Started Form. 

At the end of the form, there’s the opportunity to schedule a call or meeting with a member of the Annex team, with no cost or obligation. We at Annex rely on that initial meeting to get to know who you are, what moves and worries you, and discover what brought you to us. In turn, we share the Annex Story and how we’re able to help, often reviewing the breadth of our team and its areas of expertise. 

When that meeting concludes, and if there’s an agreement to continue the discovery process, another meeting will be scheduled. We’ll ask you to supply some more details about your current situation so we can begin Annex’s customized planning process. Prior to the next meeting, our Financial Planning team will build a framework of a financial plan, in addition a Portfolio Analysis, which includes a stress test, volatility measurement, and risk tolerance assessment.  

When the next meeting comes, we’ll review the analysis performed by the Financial Planning team together, and walk through some key details like lifestyle spending assumptions, healthcare/insurance costs, and retirement age(s). A copy of your analysis will be provided for you to keep and review on your own, so no need to worry about having to remember everything. 

Upon the completion of these meetings, if there’s the mutual commitment to proceed, we’ll begin the onboarding process to become a client of Annex Wealth Managment! Our onboarding process is practically paperless – we use secure digital connections with our custodians to help the transfer move efficiently. 

Have you thought about filling out the Get Started Form but have questions or concerns? Let us know what we can do to help. And, if you’re ready, fill out the Get Started Form today and learn how Annex Wealth Management can help you now and in the future.