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Steve Stanganelli, CFP® Admitted to the Paladin Registry as 5-Star Advisor
Steve Stanganelli, a board-certified financial planner and retirement planning counselor with Focus Capital Wealth Management of Bedford, NH, an independent fee-only Registered Investment Advisor, was recently notified of his 5-Star Status Renewal.
By: Focus Capital Wealth Management, Inc.
The Paladin Registry (www.paladinregistry.com)
Since 2004, Paladin has reviewed the qualifications of more than 16,000 advisors and awarded its five star rating to the top 7%. This quality rating requires advisors to meet the highest minimum standards in the financial services industry for their credentials, ethics, business practices, and services. Only five star rated professionals are invited to be profiled in the Paladin Registry. (You can view advisor documentation by going to www.paladinregistry.com / View Documents / Enter the advisor’s name.)
Jack Waymire, Paladin founder and author of the highly regarded book Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor (ISBN 0471476994, John Wiley & Sons, December, 2003) said “Registry services solve three major problems for investors who rely on planners and advisors to achieve their financial goals. First, it’s not easy for investors to find high quality advisors. Second, when they find advisors they may not know the right questions to ask to determine their quality. And third, they may not know good answers from bad ones. Consequently, millions of investors hire the wrong advisors for the wrong reasons and fire them within two years.”
Waymire went on to say, “The Registry solves the quality problem by having the highest minimum standards in the financial services industry. Planners and advisors must complete a comprehensive questionnaire and score in the top 10% of their profession to be admitted to the Registry. In addition, they must be Registered Investment Advisors (RIAs) or Investment Advisor Representatives (IARs), acknowledge their fiduciary status, provide independent advice, and work for fees not commissions.”
Waymire confirmed that only a small percentage of practicing planners and advisors can meet the Registry’s strict requirements. He said “We focus on the top tier of professionals who are paid to help investors achieve their financial goals. We exclude the bottom 90% who are frequently paid commissions to sell investment and insurance products. Anyone who isn’t paid to help investors achieve their financial goals is a potential risk to consumers."
He added, “This risk exists because the financial services industry has no minimum standards for advisors. There are no education requirements, not even a high school diploma, and no experience requirements. In fact, 18 year olds and people with criminal records can obtain securities licenses. The combination of no standards and no disclosure requirements creates a major risk for investors and the Paladin Registry is one of the few resources that help them avoid the risk.”
Waymire noted that the fee-only model of Focus Capital and advisors like Stanganelli “ is a defining characteristic for the most successful professionals and makes them more client-focused advisors.”
He continued by explaining “those that sell products are paid commissions. Professionals who provide advice and services are paid fees. You pay your tax and legal advisors a fee for their knowledge and services. It should be no different for your financial advisor. By paying a fee you are also assured there are no potential conflicts of interest based on method of compensation.”
About Steve Stanganelli, CRPC ®, CFP ®
Steve is a licensed investment advisory representative and member of the financial planning staff of Focus Capital Wealth Management. His background is highlighted by over 18 years of financial consulting and project management experience in banking and financial planning firms in the Merrimack Valley.
Steve earned his Master of Science degree in Finance (MSF) from Bentley College with high distinction. He is also an honors graduate of the University of Massachusetts – Lowell. Steve holds the designations of CERTIFIED FINANCIAL PLANNER ™ and CHARTERED RETIREMENT PLANNING COUNSELOR sm awarded after completion of extensive, in-depth studying and exam requirements.
Steve is an executive officer of the Greater Merrimack Valley Estate Planning Council. Steve, formerly of Methuen, is a resident of Amesbury and an avid competitive cyclist.
About Focus Capital Wealth Management, Inc.
Focus Capital Wealth Management is a Registered Investment Advisor formed in January 2001 by Nicholas Rowe, a CFP ® professional since 1994. The firm is located in Bedford, New Hampshire and is comprised of a dedicated team of three CFP® professionals, a tax specialist and a portfolio manager. The firm is focused on helping clients, families and business professionals achieve their individual financial goals. The team specializes in highly personalized financial planning and asset management to better help clients meet their goals of secure retirement, wealth protection, investing for education and better cash management.
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Focus Capital Wealth Management (www.focus-capital.com)
Page Updated Last on: Mar 23, 2010