In his recent Q+A with ThinkAdvisor, Dustin Gale, CFP®, CPWA® discussed the biggest challenges facing advisors today, his volunteer work with Project ECHO (Entrepreneurial Concepts Hands On!), his approach to wealth management and much more.
Highlights from the Q+A:
What do clients need most from advisors, given the current market and economic conditions?
Communication that’s tailored to their specific objectives, goals, needs and circumstances.
Clients need a good grasp of what’s going on financially [in general], so that when they see volatility spiking or a lot of big [negative] headlines, they know not to panic too much.
Your firm uses alternative investments. Do you ever recommend them to your clients?
Yes, either as a customized approach to reduce volatility or provide more consistent income as a diversifier away from traditional fixed income. It depends on the scenario.
What else differentiates your practice?
I’ve had quite a strong background in credit on the bank side. I have the ability to look at both sides of the balance sheet and talk about credit opportunities with clients.
Tell me more about your role in the [Project Echo] program.
Youths create their business ideation and business plan, work on their pitch and present to a roomful of entrepreneurs and [other] professionals.
We have a mix of at-risk youths and other students who have had more advantages and opportunities.
Read the full conversation: Helping Millionaires Next Door Build Their Assets and Spend Them
The ThinkAdvisor Luminaries Community Impact award will be announced in November 2023 and will cover the year 2023. KAR has not paid fees to participate in nomination for the award.
Alternative products can carry additional risks including liquidity and credit risk. Some alternative products may only be available to accredited investors and/or qualified purchasers. Please consult with your financial professional for definitions of accredited investor and/or qualified purchaser. Certain credit opportunities, including margin loans, may not be suitable for all clients and carry risks including risk of unlimited losses and incurrence of margin interest debt. Please consult with your financial professional to learn more about the risks associated with alternative products and credit opportunities, including margin loans, to determine whether these products are appropriate for your financial circumstances and risk tolerance.
The information provided here should not be considered to be insurance, legal, or tax advice and all investors should consult their insurance, legal, and tax professionals about the specifics of their own insurance, estate, and tax situations to determine any proper course of action for them. KAR does not provide insurance, legal, or tax advice, and information presented here may not be true or applicable for all investor situations.
