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Tech-Enabled private wealth manager for HNWIs launches

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Wedmont Private Capital has launched a tech-enabled alternative to the traditional model of private wealth management. Founded by Credit Suisse and Vanguard alums, Wedmont was engineered specifically for high-net-worth (HNW) investors who no longer wish to be charged exorbitant fees.  

Co-Founder Dominic Corabi says: “It’s a game-changing model. We’ve long believed that the traditional model of private wealth management was overdue for a restructure. Wedmont is our answer.”

Almost all financial advisors charge assets under management (AUM) fees, in which clients pay a percentage of their assets to their advisor every year. As a portfolio increases in value, so does the corresponding fee. Just just like a wealth tax, clients pay more only because they have more, not because their advisor is providing additional value. For wealthy families, these AUM advisory fees can approach and surpass six figures on an annual basis.

Wedmont, which works with clients with more than USD1,000,000 in investable assets, has changed this paradigm. By charging a flat USD10,000 annual fee, regardless of the size of the client portfolio, Wedmont provides much-needed transparency to HNW investors. Over the long term, this flat fee may enable clients to accumulate significantly more wealth than they would have amassed working with a traditional AUM advisor.

Wedmont, who works with clients with more than $1,000,000 in investable assets, has changed this paradigm. By charging a flat $10,000 annual fee, regardless of the size of the client portfolio, Wedmont provides much-needed transparency to HNW investors. Over the long term, this flat fee may enable clients to accumulate significantly more wealth than they would have amassed working with a traditional AUM advisor.

Wedmont was built from the ground up to put clients first and to improve the experience of working with a full-service private wealth manager.  Wedmont’s unique platform includes the following:

Dedicated CFP® Advisors: Clients establish a one-on-one relationship with an experienced CFP® skilled in topics specific to HNW investors (equity compensation, trusts and estates, income planning, tax planning, and more).

Custom Portfolios: Wedmont has assembled an impressive investment platform that covers the full asset spectrum – including cash, fixed income and equities, as well as a range of alternative offerings such as private equity and hedge funds.

Client Focused Technology: Wedmont leverages the latest technology to work with clients virtually and in-person.  A new client portal and mobile app allows clients to monitor their portfolios anytime and anywhere.

Full-time Fiduciary: Wedmont’s advisors assume a fiduciary obligation to clients, meaning they are required by law to act only in the client’s best interest. Wedmont advisors never receive commissions or hidden fees from investment providers.

Safety and Security: Affiliated with the industry’s leading third-party custodians, assets are held in individually titled accounts controlled by each client.

Included in its flat fee, Wedmont also offers direct indexing to all clients. Direct indexing, in which individual client portfolios are designed to replicate a broad market index, allows clients to take advantage of normal movements in the price of individual stocks in order to proactively harvest tax-losses. These tax-losses are passed to the client, who can use them to offset capital gains and income taxes.

Direct indexing is an increasingly popular strategy for HNW investors, but it typically includes an additional fee. Wedmont provides direct indexing at no additional fee and without any trading costs.

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