By Fred D. Fischer, President
Wealth management firms by definition cannot hold themselves out to be “Investment Counsellors.” The Investment Advisors Act of 1940, regulating “Registered Investment Advisers” in the U.S., 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.