I need help finding a private asset manager

[Taylor Michels]

How do I find a private asset manager? My father is 71 years old and is wanting to slow down but still "stay in the game". He has several businesses that have generated lots of wealth and even more ideas on how to grow more but just isn't wanting to put in the time anymore. He'd need someone local-ish as he is very old school when it comes to the virtual realm. We are located near Eau Claire, WI. He does have a financial advisor/investment portfolio group, but obviously they want to invest in just stocks which is pretty limiting in my opinion. They are obviously looking out for number one, which is growing their firm. Any advice on how to find this unicorn is greatly appreciated!

[Daniel Johnson]

Hey @Taylor Michels -

You are definitely looking for a unicorn. A wealth manager/advisor that isn't paid based on assets under management are difficult to find. Add on top of that a local preference, makes it even harder. I hope I might be able to provide a few resources that might help. First, when looking for a fiduciary private wealth advisor, you should start by focusing your search on fee-only advisors. The starting point for this in my opinion is NAPFA. Everyone in NAPFA are fiduciaries, but many will charge based on AUM. Next is XYPN, all of these companies are fee-only, but many provide non-AUM options. Lastly is a referral website for flat-fee advisors, on Tenon financial's website. All of these sites provide great resources for people searching for fee-only advisors, but going a step further towards providing advice around all assets can be a little more difficult. If I can provide any additional insight/help, please don't hesitate to reach out.