What A Wealth Management Firm is All About

Thursday, April 9, 2015 | 4:18 pm

A lot of people shy away from wealth management firms because the nature of their work sounds a bit cold and money-centric.

What they don’t know is that at the core of some of these organizations is the desire to help people, the passion to create a bright future for them. Financial advisor and planner Ricky Biel should know. Having grown up in a lower to middle class income family, he was painfully aware of the realities of “not being able to get some of the things that I wanted as a kid,” he recalls.

This prodded him to learn more about the intricacies of money. Now one of the partners of Haydel, Biel & Associates, he is more than willing to share his knowledge with people who need financial guidance and enlightenment.

With experience as an American Express financial adviser, Biel and his business partner set up their own independent Registered Invest Advisory Firm in 2009. “I guess one of the reasons that we wanted to go independent is we wanted to be unbiased. It’s very important for us to be unbiased professionals giving advice to clients that we feel is the absolute best, regardless of any company affiliation,” he says.

Haydel, Biel & Associates is a fee-based financial planning and wealth management team “educating and guiding long-term investors.” Most of their clients are accredited investors with a million dollars of net worth.

However, Biel emphasizes, their firm can make an exception when new clients don’t meet that criteria. And this is where the “helping” part comes into play: “We look at other things like their income, their ability so save, their commitment to save. I’ll give you an example of what that client would look like. I had a client who is young. He’s a psychologist. He doesn’t have a million dollars. The guy is making $250,000 a year and he is willing to save between $5,000 to $10,000 a month,” Biel says.

“If he’s willing to save $5,000 to $10,000 a month, I am willing to work with him and make the exception because he is committed,” he adds.

Biel and his partners make sure the firm builds lasting and meaningful relationships with its clients and continues to guide them in their financial decisions, from setting up retirement plans, to strategizing investment taxes and estate planning.

For Biel, it’s this positive influence to clients’ lives that makes their work meaningful and truly valuable.

Haydel Biel & Associates is located at 100 E. Corson Street Suite 310, Pasadena. For more information, call (626) 529-8347 or visit www.hbawealth.com.


blog comments powered by Disqus