When you enter the financial business, numbers come with the territory. Especially the concept of minimum amount needed for entry. Some good – some not so good. Good minimums are those that are considered safeguards. An effort to protect investors from losing all of their money in risky investments. Other minimums are more of an exclusivity hurdle. You need a certain amount to join a particular club, go to a certain restaurant, etc. Exclusivity has its pros and cons. Sometimes it is needed to protect those already there. Other times in attempt to protect those already there, it hinders on the rights of others that have not been included. 

At Members’ Wealth, we hear the question all the time, what is your investment minimum? Even after I hem and haw about minimums, saying something like minimums are a number and wealth is not a number but a state of mind, the other party still asks what our minimum is. Short of – “I know you don’t have a crystal ball, but what do you think will happen in the future “ It might be the question that bothers me the most in this industry.

To me wealth is personal. Numbers are not personal they are objective. A hardline in the sand. Where you are on one side or the other. At Members’ Wealth, we think this is misguided. But nonetheless, we still face the challenges other firms face. Do we set a minimum high or low? If we say no minimum then have we not set it low? So there is no way around it. Or so we thought.

From a marketing standpoint, if the minimum is too low, certain investors or clients may not think you are exclusive enough or that you could not possibly have the services they need with the levels of wealth that they have. And in some cases, this may true. But not always. If the minimum is too high, then you may exclude some wonderful families, institutions etc. that you would really like to work with, despite them being profitable, fulfilling relationships.

Thus, at Members’ Wealth, we do not have a stated minimum, instead we focus on the state of mind. A minimum state of mind.

Everyone needs sound financial advice from someone who's interest are aligned with theirs. You could do it yourself and then obviously your interests are aligned. But for most, my self-included because I am a client of the firm, as well as being the CEO and a co-founder of the firm, it is best to not got it alone. As the old African Proverb says, if you want to go fast, go alone, if you want to go far go together.

Members’ Wealth is inclusive of all those who desire sound financial advice from experienced professionals and have a willingness to pay a fair amount for valued advice relative to their needs. For some this may be a one-page financial plan reviewed one time per year for an hour with instructions on what to do for the next year. For others, it may take the form of complex financial and tax plans executed in a family office style service offering. Members’ Wealth has been designed to be able to handle all of these.

To learn more about our client segmentation and our like-minded state of mind minimum click here….

Advisory services are offered through CS Planning Corp., an SEC registered investment advisor.