By Fred D. Fischer, President
Wealth management firms by definition cannot hold themselves out to be “Investment Counsellors.” The Investment Advisors Act of 1940 states that a substantial part of its business consists of rendering investment supervisory services. Wealth managers earn a portion of fees by providing financial planning services and are not 100% dedicated toward investment management. All things being equal, who will produce the best performance results? It should be the specialist. Investment Counsellors devote 100% of the firm’s resources toward growing investment accounts to a higher value. Many wealth management firms exist in Central PA, but few firms of any kind can use the term “Investment Counsellor” like Fischer Financial Services, Inc.