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Plant the Seed & Let It Grow: How DWM is Helping Emerging Investors

Written by Jake Rickord.

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Coming out of college can be a very stressful time for an individual. One goes from the structured and carefree life of being a student to someone bewildered with what is often their first glimpse of responsibility, trying to grab the wheel and get some control on their future. For a lot of recent graduates, it’s not an easy transition.

Having graduated from Carthage College in Wisconsin last May, I understand what some of these sobering realizations feel like. Fortunately, my family relationship with DWM team member, Jenny Coletti, earned me an interview at Detterbeck Wealth Management and, fast forward a few weeks, I’m proud to be a new part of the DWM team!

Even though I majored in mathematics, as a young person fresh out of college, it is extremely daunting on how to get your hands around your financial wherewithal and start planning for your future. DWM is guiding me through that process and in the near future will be doing this for other “emerging investors”!

That said, we’d like to introduce you to a program DWM plans to roll out in the near future: DWM’s Emerging Investor (“EI”) Program, a program designed for young investors looking to kick start their wealth management future! One of the most common things you’ll hear people say when talking about investments is: “I wish I started earlier.” DWM agrees and decided it was time to help younger folks get invested and on their way to financial freedom at an early age.

Highlights of this EI Program include the following:

  • Automated investment management utilizing DWM investment strategies via the Schwab IIP Platform
  • Emerging Investor On-Boarding - Financial assistance geared directly toward an Emerging Investor needs, which could include the following:
    • Budgeting/cash flow planning
    • Debt Management
    • Asset Allocation including assistance with your employer-based plan
    • Assistance with other work benefit options
    • Access to nifty financial tools
    • Educational planning (for those with kids or planning to have them soon)
    • Access to the DWM Emerging Investor Relationship Managers
      • In Charleston: Ginny Wilson & Grant Maddox
      • In Palatine: Me, Jake Rickord!
  • The ability to graduate to DWM’s Total Wealth Management (“TWM”) Platform – the one that our current clients benefit from - when their account value reaches a certain level

This platform can serve many needs, but Brett and Les are very excited about this being a nice spot for children of TWM clients and other select younger people looking to grow their portfolios, where they become their own investor and spread their own wings!

It should be noted that this Emerging Investor Program is a different service package than our more sophisticated Total Wealth Management experience. Given that it is geared toward a younger audience, which have different – typically less complicated, but still important - needs, the areas of focus are much different. For example, my recently graduated college friends are more interested in cash flow/budgeting management and making sure that their 401k through work is getting the most bang for the buck, given the employer’s match and investment choices, and less interested in retirement, estate, tax planning, etc. The investment management portfolios are still constructed by the same team at DWM, but do not utilize the more sophisticated alternative investments. Also, from an administrative perspective, reporting is completely handled through the Schwab IIP Client portal – no custom Orion/DWM reports like our TWM clients receive. In fact, with this EI program, everything is on-line and paperless, which to a Millennial sounds fantastic, but may be daunting to the older generations. A co-browsing session between the new EI client and one of our team members can be scheduled to make on-boarding a piece of cake. And whereas this new EI program has many differences from our traditional TWM program, the main theme remains the same: we will help select investors make their money work harder by addressing the unforeseen landmines hidden within their financial plans by equipping them with education, knowledge, tools, and sound advice. 

Overall, I am extremely excited to be a part of the DWM family. I’ve learned a great deal and met some great people since joining several weeks ago. I look forward to meeting all of the clients in due time. And I cannot wait to help roll-out this new Emerging Investors platform. We still have plenty of work to do, but stay tuned for the official launch!

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