Hall Private Wealth Advisors (HPWA), a boutique wealth-management practice, has reached record asset levels recently, through new clientele and higher-than-industry-average new asset growth. Much of that growth has come through referrals from existing clients who appreciate the firm’s straightforward approach to asset management.
Russell Hall, owner of Hall Private Wealth Advisors, believes in financial literacy. But he doesn’t speak the language of industry jargon or complex financial packaging. He and his firm offer clear explanations and common-sense advice to their clients. And he doesn’t shy away from educating his clients about a changing market.
Hall operates his firm like a family, nurturing relationships and promoting healthy communication. “We spend a lot of time identifying ways to improve clarity regarding our clients’ financial well-being, and often highlight issues with our competitors who tend to place people into heavy-fee, conflicting and underperforming programs,” he says. “Financial planning, consolidation/simplification and wealth management are our main areas of focus, but we also advise on philanthropic and tax-savings strategies along with succession-plan coordination.”
Hall says that level of trust is so high that many clients request that they coordinate meetings with their estate planners, CPAs and insurance advisors. That collaboration benefits the client by creating a holistic asset-management plan.
“Many investors become complacent with their financial advisor relationship and aren’t aware of their returns versus relevant benchmarks,” Hall explains. “Fees can add up quickly. That’s why we offer a complimentary portfolio analysis. It’s an easy step we can take with any prospective client to determine what they are paying and what their current portfolio risk looks like.”
Hall says the firm strives to differentiate itself from other financial firms in a number of ways. “First off, Hall Private Wealth acts as a fiduciary, beholden to operate in our clients’ best interest — and we believe our commitment to transparency and fairness are the best ways to serve that interest. We also believe in fair pricing, offering low and all-inclusive prices without the hidden fees and costs you’ll find with many other financial institutions. We provide a simplified experience by providing customized reports highlighting key metrics we feel our clients should be paying attention to. Finally, we pride ourselves on providing concierge-level service, hands-on attention to detail and incredible responsiveness.”
HPWA uses a number of strategies to maximize their clients’ portfolio. For example, the firm utilizes securities such as stocks and bonds rather than actively managed funds because, Hall says, “we find that most active managers don’t perform in line with the respective index or benchmarks. We utilize in-house research, as this helps reduce or eliminate managed-fund fees and conflicts of interest, plus it allows us to switch gears quickly to capture opportunities or read warning signals and make changes based on current conditions and trends. We absorb trading costs and account fees, and we don’t use products like mutual funds and limited partnerships which contain hidden charges and lack liquidity.”
Hall says his typical clients are high-profile families, corporate executives and business owners who have had multiple exits and people who have inherited or received money through a settlement. “We’ve found that our clients have become more sophisticated through our own efforts to promote their financial literacy as well as the wealth of information to be found online,” explains Hall, “and are trending younger as we see more high-income earners across the nation join our firm by way of referral from existing clients.”
The firm has five full-time employees with over 100 years of combined experience in the wealth-management industry. It also provides opportunities for internships, with two USD students currently involved in research and marketing.
The firm’s advisors are actively involved in the community they serve and support local organizations such as the Solana Beach Chamber of Commerce, the Salk Institute, Tech Coast Angels, Casas de Luz, Operation for Hope, Women on Boards and Solana Beach Little League, among others.
Prospective clients can call Hall Private Wealth Advisors to schedule a free consultation at 858-263-1675. For more information, go to www.hallpwa.com.
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