Your money represents not only your financial future, but also your ability to get adequate medical care later in life, if needed, and a significant portion of your work as an adult.
We strongly believe that you will be better off with Arbor Financial Services than you are now:
Better portfolio. At Arbor Financial Services, we will have a significant number of additional private money managers and mutual funds to choose from. For example, the Morgan Stanley Smith Barney Fund Solution mutual fund program offers about 300 mutual funds to choose from; Arbor Financial Services offers over 7,000! I believe those additional resources will allow us to improve your portfolio.
Excellent staff and team. At Arbor Financial Services, the universe of top level professionals to choose staff from is increased because many people will not be excluded due to lack of having certain licenses that are not required by law or for performing their duties. This has allowed us to create a wonderful team of professionals who will work together to meet your needs.
Turnover among staff should be significantly lower than most firms because their work environment and career development opportunities will be better.
Morale and desire of our team to do a great job for you should be higher than most firms for many reasons. Arbor Financial Services has the flexibility to design job descriptions around a specific person’s likes and strengths, and not have to wedge people into roles that are designed for situations that don’t apply to us. Mergers at Wall Street firms almost always result in many people being fired or reassigned to jobs they dislike. At Arbor Financial Services, that’s not an issue. You can read about our team in the About Arbor Financial Services section of our website.
Better service. Having enough client-centric people on the team, giving them the right tools, putting them in the right work environment, and affiliating with a better company are the necessary ingredients for better service.
Stable environment. Arbor Financial Services is stable and growing. LPL Financial is stable and growing.
Many large wire houses are the result of mergers of two giants in the industry. They are owned by two competitors. Changes due to mergers are likely to cause even the best FAs difficulty in providing you the excellent service that they would otherwise be capable of.
Existing and proven computer administrative system. The Claeys team has been using founder Peter Claeys’ personal computer system for over 20 years. We are using that same system at Arbor Financial Services. LPL Financial has a very established and proven administrative computer system and has no need to overhaul it or merge it into someone else’s system.
Large wire houses, such as Morgan Stanley Smith Barney, do not have the same stability in their systems due to merges. Charlie Johnson, the co-President of Morgan Stanley Smith Barney, told an audience that Peter was part of that he thought it would be a huge undertaking to get the two computer systems at Morgan Stanley and at Smith Barney to become fully integrated. He estimated it would take over two years.
That issue is avoided at Arbor Financial Services.
Better written reports and communications. Before any correspondence is permitted to be sent or given to a client at a large wire house, management must first approve it. If an advisor wants to customize mailings to your specific needs, that approval process is normally long and arduous. The request for a customized special analysis, for example, can take over a month to review, and may not be approved at all.
At Arbor Financial Services, we have the flexibility to send you all of the information that you need to understand your investments and make informed choices.
Better custodian. Since LPL Financial specializes in “lockbox” functions, they do not engage in investment business like Wall Street firms—no toxic assets like subprime mortgages, aggressive loans to hedge funds, nor bets on the direction of the markets. Consequently, LPL Financial has been consistently profitable and did not need to be bailed out by the government. Their credit rating actually improved in 2008.
LPL Financial does not have a captive audience for clients. They provide services to non-related independent Financial Advisors, banks, credit unions, and other financial institutions. That means that they are pre-disposed to always improve.
A Wall Street firm uses itself as the “lockbox” custodian. There are no other alternatives.