Frequently Asked Questions


Is Water Tower Wealth Management affiliated with any other financial institutions, such as a brokerage firm, bank or asset manager?

No, we are not affiliated with any other organization.  Our independence from other organizations helps ensure we are objective in the advice we provide?


How does Water Tower Wealth Management differ from brokerage firms, trust companies, banks, and asset management firms?

Water Tower Wealth Management has insured that our financial interests are aligned with our clients.  We are independently owned and operated.  Therefore, we are not subject to outside influences regarding service, product or investment recommendations.  Our sole source of revenue has always been from client fees.  We do not accept any commissions, product placement fees or any other revenue from third parties.


How does Water Tower Wealth Management prevent conflicts of interest with respect to your advice and recommendations?

The only compensation we receive is for providing investment advice to our clients.  We have no proprietary products - we do not share in the fees of any manager or fund that we recommend, so you can be sure our recommendations are unbiased.  We do not earn commissions from trading, eliminating any incentive for excessive portfolio turnover.  We do not charge more for one asset class over another - there is no incentive to skew advice for our benefit.


Does Water Tower Wealth Management receive any other direct or indirect compensation for its work on my behalf?

No, furthermore Water Tower Wealth Management works as a fiduciary on your behalf to negotiate and reduce service providers' fees to increase your investment returns.

Who does Water Tower Wealth Management serve?

We provide our services to individuals, families, businesses, trusts, partnerships, not-for-profit organizations and retirement plans who wish to pursue long-term goals based on our strategic approach to managing wealth.

What services does Water Tower Wealth management provide to investors?

We conduct initial and ongoing deep discovery to determine clients' financial needs in relation to their unique values; goals; personal, professional and institutional relationships; assets; and interests.  We then form a far-reaching plan to achieve those goals.  We gather expertise, or we are prepared to work with your existing advisors, to ensure that each component within the strategy is carefully executed and seamlessly integrated to serve the overall purpose.

How does Water Tower Wealth Management work with my current advisors; attorneys, CPA's and other professionals?

You let us know how we can best work with your other advisors.  Our goal is to build a strong relationship with your advisors in order to complement and enhance their work.  In some cases, we may serve as your project manager to ensure that your advisors have timely and accurate information.  In all cases, our job is to work together, provide context and obtain the benefit of their expertise.  As your advisor, we will be in a position to anticipate issues and opportunities that can be referred to your tax advisor, attorney or other service providers, for prompt consideration and resolution.

How much does it cost to hold an initial planning meeting with Water Tower Wealth Management?

There is not cost for our initial discovery and investment plan meetings.  We feel it's time well spent to first get to know one another, before we seek a mutual commitment and before we begin charging a fee.

Does Water Tower Wealth Management hold my assets for me?

No, your assets are held in your name with a custodian.  We typically recommend TD Ameritrade as your custodian, but other arrangements can be made.  By signing our Investment Advisory Agreement you grant us Limited Power of Attorney (LPOA) to execute transactions on your behalf.  We do not have direct access to any funds in your account.

What happens to my current holdings if I become a client of Water Tower Wealth Management?

Before any changes are made, we first analyze your existing portfolio and discuss our recommendations with you.  Our overall goal is for your portfolio to make sense for you and your lifetime objectives, in the most cost-effective way possible.  Ways we achieve this goal are to capture your unique willingness, ability and need to take on market risk via appropriate diversification; to minimize the expenses involved in investing; to manage for appropriate asset location between taxable and tax-sheltered accounts; and to eliminate any unnecessary complexity within the collection of accounts within your portfolio.  If existing holdings lend themselves to these objectives, we leave them in place.  If changes are warranted, we work with you to ensure any transitions occur as smoothly and cost-effectively as possible.

What types of account reporting will I receive?

Your account custodian will provide monthly or quarterly statements and confirmations of each transaction.  On a quarterly basis Water Tower Wealth Management will provide a detailed report of all accounts we manage for you.  Annually, we will provide you with a comprehensive summary of values and performance.  In addition you will have internet access to your account updated daily by the custodian.  You may access the custodian's login page from the "Client Account Access" tab at the top of our website.