Four years ago, after decades advising clients under the umbrella of various large investment banks, we made the decision to start our own independent boutique wealth advisory. As we mark our 4th anniversary as Rhinebeck Wealth Advisors, we couldn’t be happier.
We have much to celebrate. Launching an independent practice was a big endeavor.
Diving into our fifth year, we are excited to share the news that we have a new team member, and a new website and blog where we will be sharing our insights about investing and financial planning. We have much to announce: a second location, a host of new technology, and a new pricing structure for potential clients who need our help but do not meet our investment minimums.
Our new website and blog is accessible at rhinebeckwealthadvisors.com. The rbkwealth.com address will still work and will soon take you to our new site. Please subscribe below so that you will be notified when we have information to share. The world of finance is incredibly complex and fast moving and this will allow us to keep all of you informed and up to date in between your regular reviews.
We’ve had a few other additions as well: Meet Buddy, Doina’s personal bodyguard and Red Hook office mascot.
And Taco, Kathy’s sidekick, who is nothing but trouble (and a lot of laughs).
We now have an office in The Berkshires, in Great Barrington, MA. As a satellite to our main location in Red Hook, NY, we’re now able to provide convenient service throughout both the Hudson Valley and The Berkshires.
One of the big advantages we have as an independent practice is the wealth of technology now available to us. In addition to the fantastic client reporting and other tools available to us on the Raymond James platform, we also have invested in:
- eMoney is our in depth, cash-flow-based financial planning platform that allows us to model complex scenarios. Examples include: real estate purchases and sales; rental income, expenses and depreciation; the sale of a business, and much more. This is all in addition to traditional goals-based planning to monitor progress towards your retirement and other financial goals.
- Morningstar Advisor Workstation provides us with in depth reporting and analysis on mutual funds, ETFs, and separately managed accounts, in addition to modeling hypothetical portfolios.
- Fi360 gives us the ability to do enhanced due diligence on our stable of investment managers, mutual funds, and ETFs. We review these investments at least quarterly and compare their performance and other metrics to peers and traditional benchmarks.
- Riskalyze allows us to analyze risk in client portfolios and help keep you informed and educated about the risks and expected rewards that your portfolio may provide.
- YourStake provides all of the tools we need to help clients understand and grow their social and environmental impact through their investment portfolios.
- Wealthbox is our client relationship management software that allows our entire team to stay informed about all of our clients, not just those whom we personally service. That way, whenever it is necessary, another advisor can be ready to step in if one of us is unavailable.
- Calendly is software that Kathy is currently testing to make scheduling reviews and meetings over zoom, in person, or on the phone easier for everyone.
Last but not least, we are exploring new fee structures for new Generation X and Y clients who do not meet our investment minimums. We know these clients often have complex planning needs and we want to help. We are working out a model that we think will work well for everyone and align all of our interests.