AMDG Financial Receives 7th Consecutive CEFEX Fiduciary Practices for Investment Advisors Certification
Plymouth, MI (PRWEB) July 31, 2013 -- Wayne Titus's methodology has been evaluated and certified for seven consecutive years by the Centre for Fiduciary Excellence as following Global Best Practices for Fiduciary Excellence. AMDG Financial was one of the first 10 firms, globally, to obtain this certification. The annual process involves a detailed assessment of operational data and procedures, followed by on-site interviews with key personnel.
Titus opened his Michigan-based AMDG Financial in 2002, wanting it to be a different kind of financial planning service. It was to be a firm embodied in his motto: “From financial wisdom, better stewardship.SM” The decade since proved this a wise decision.
Titus previously spent over 10 years as a CPA and systems audit manager at some of the largest accounting firms. “In my mind, the accounting industry was not serving those who most needed to be served, which was small businesses and families.” His solution: a singular wealth management service based strictly on fiduciary responsibility standards with a fee-only approach.
“I was offered commission-based adviser positions with broker/dealers, but if I received commissions, my clients would wonder why I made certain recommendations.”
A Fiduciary Practices Investment Advisor assumes the responsibility for managing a client’s overall investment strategy: deciding on the client’s asset allocation, developing the client’s investment strategy, implementing the strategy with appropriate Investment Managers, and monitoring the strategy on an ongoing basis.
When dealing with clients, Titus adheres to a comprehensive financial planning philosophy he describes as “calming, wholesome and complete.” It is a process based on coming to understand a client’s personal values and recognizing that life is ultimately unpredictable, especially now.
“Life throws curve balls. My job is to make the adjustments when they come and put clients through a process that produces alternative solutions,” Titus says. “I help clients understand the benefits of a particular scenario. The client makes the decisions.”
Chicken Little headlines irk Titus. “The negative hyperbole spouted in the press sparks fear, confusion and uncertainty in clients,” he says. “I must educate my clients not to focus on the daily numbers and hysteria, but on the long term and how their investment strategy supports their financial plan.”
“I don’t believe you can consistently predict what is going to happen in the marketplace tomorrow or next week,” he says. “If you take a prudent approach, know what your goals are and have the freedom and comfort of achieving success with your financial plan, then you can think about the other things you might do.”
For Titus those other things involve charitable work and donations. He has made 15 trips to El Salvador since 2003, working on water and sanitation and on implementing solutions for maternal and children’s health issues. As Michigan Association of CPAs Financial Literacy Task Force Chair, Titus has been quoted by the press about the importance of being smart with your money and the importance of discussing money in a relationship (adding money night instead of movie night, budget night instead of bowling night, etc.). Titus finished his year as Rotary Club president for Canton, Michigan, was elected District Governor for 2015-2016. As he puts it: “To me, that’s what stewardship is all about.”
Wayne B. Titus lll, AMDG Financial, http://www.amdgservices.com, 734.737.0866, [email protected]
Share this article