A Detective for the Wealthy Advisor

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Moenio, a unique firm in the U.S advising clients about their advisors, celebrates anniversary with the launch of Advisor Background Check (ABC)

Whether you remember “The Wolf of Wall Street” or not, you’ve doubtless heard of investment scams. And the wealthy are the top entrée for a shady or mismatched financial advisor.

Kevin Neal, a former private wealth advisor, believes that those with significant assets need “a detective in their corner” to select and consistently monitor financial advisors, as well as make certain the advisor you have is the right one for your needs.

Neal is at the forefront of providing these investigative and monitoring services for upper income individuals. His company, Moenio, the Latin word meaning to build, defend, protect or fortify, is the result of a long and successful career in the wealth management industry where he saw a need for this type of service.

“Our goal is to understand the path our clients wish to take and how that aligns with the decisions being made on their behalf, by their financial adviser(s),” said Neal. “We provide our clients with a full picture of their advisor’s ability to manage their assets, assist them in making the best decisions for their future, and make certain the fees our clients pay are fair.”

“With more than 600,000 registered investment advisors in the U.S. alone, having a safety net is more practical than ever before,” says Neal. “As the complexity of investing continues with new opportunities, a client with substantial assets should be certain of their choice in financial advisors.”

The Financial Industry Regulatory Authority, Inc.’s (FINRA) mission is to protect investors by making sure the United States securities industry operates fairly and honestly. FINRA, the non-governmental organization that regulates member brokerage firms and exchange markets, affords a free tool called Broker Check1, which allows you to research the background and experience of financial brokers, advisers and firms. However, Broker Check does not convey an accurate picture.

“The free tool provided by FINRA offers information on the advisor without context such as education, experience, and adverse actions by the advisor. Short of context in each of these areas, the value of the tool becomes diminished,” said Neal. “Our Advisor Background Check (ABC) system attempts to help an investor have confidence in their choice of an advisor,” Neal added.

Neal’s “ABC system” is meant to clarify and enhance the information FINRA’s Broker Check provides to investors. Currently, FINRA’s Broker Check provides raw data on experience (i.e. how many years someone has been in the industry), employment (i.e. where they worked) and disclosures (i.e. marks against them). However, it does not tell the complete story and can often do more harm than good even allowing a good advisor to be labeled a bad one.

Neal is changing that, one client at a time. He has 20+ years of experience in the wealth management industry. He was with UBS Wealth Management as a private wealth advisor focusing on portfolio management, financial planning and alternative solutions, and well as a wealth management/business development consultant assisting financial advisors with portfolio solutions, risk management, trust and estate planning, banking and lending. He was President and CEO at McDonald Neal Group, a fee-based financial practice as well as the Managing Partner of a regional investment firm sold in 2000. Neal holds the following licenses: Certified Financial Planner (CFP®), Chartered Financial Consultant (ChFC), Chartered Life Underwriter (CLU®), Trust and Estate Practitioner (TEP).
He serves on the board of the Society of Trust and Estate Practitioners (STEP), the global professional association for practitioners who specialize in family inheritance and succession planning.

For more information on the company’s services and to learn more about Advisor Background Check (ABC) system please visit: http://www.moenio.com.

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1BrokerCheck is a registered trademark of the Financial Industry Regulatory Authority, Inc.

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Melanie Martinez
The Conroy Martinez Group
+1 (305) 445-7550
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