Where Your Money Really Goes (Hint: Not to Me)
One of the most common, and important, questions I hear from prospective clients is, “Where does my money go when I work with you?” It’s a smart question that every investor should ask.
The answer might surprise you: as your Registered Investment Advisor (RIA), I never hold your money. Instead, your funds and investments are securely held by an independent third-party custodian. In our case, Charles Schwab.
Who Actually Holds Your Money?
At Thistle Wealth, your assets are securely held by Charles Schwab, one of the most reputable financial institutions in the industry. We chose Schwab because of their proven stability, advanced security, user-friendly technology, and excellent client service. This provides you with confidence and peace of mind, knowing your investments are held independently and safely.
Here's what this means for you:
- Your funds can't be withdrawn, transferred, or redirected without your explicit authorization.
- You receive accurate, independent account statements directly from Schwab.
My Role as Your Fiduciary Advocate
If your money doesn't come directly to me, then what exactly is my role?
My primary role is to serve as your financial advocate, providing expert guidance, clarity, and structured planning. I help you establish clear goals, create personalized strategies, and provide ongoing support and adjustments as your life and financial situation evolve. My fiduciary responsibility means every decision is always made with your best interests first. To learn about Thistle’s services visit What We Do.
Aligned Interests: How Fee-Only Benefits You
As a fee-only advisor, my interests are directly aligned with yours. I don't earn commissions, sell products, or receive incentives from third parties. Instead, my compensation is based on the assets I manage for you. Simply put:
- No hidden commissions or sales incentives.
- When your portfolio grows, my business benefits, putting us firmly on the same team.
Lessons Learned from Bernie Madoff
The Bernie Madoff scandal illustrated what can happen when there’s no independent verification. Madoff controlled the statements his clients received, enabling him to deceive investors. Our setup completely prevents this scenario. Your account statements come directly from Schwab, ensuring transparency and accuracy. You have complete access and control over your accounts at all times.
Confidence Through Transparency
Financial conversations can be sensitive, and trusting someone new with your finances can feel unsettling. That’s exactly why transparency is at the core of how I operate. I believe you deserve clarity and assurance about your money at all times.
Here’s what you can expect when working with Thistle Wealth:
- Independent custody of your assets with Charles Schwab
- Direct, transparent reporting from Schwab
- No commissions or hidden incentives—just unbiased, fiduciary advice
- Clear alignment of our interests through a fee-only model
Imagine reviewing your monthly statement directly from Charles Schwab, seeing clearly listed investments, withdrawals, and performance details. This transparency protects you and builds lasting trust.
Ready to Learn More?
Want to see exactly how this secure and transparent approach can benefit you personally? Schedule a complimentary consultation—I’d be happy to answer your questions and discuss how we can achieve your financial goals together.
