Wealthramp Review 2022 – Forbes Advisor

The Wealthramp process begins by asking you to fill out a short, two-minute survey.

You will answer questions like where you live, how much income you earn, the size of your current investment portfolio, and how you would like to communicate (e.g., virtual or in-person, monthly or only when the market changes, etc.)

The survey also asks questions to gauge your investment style, including your risk tolerance and how involved you want to be with investment decisions.

Wealthramp uses this information to recommend up to three advisors in your area who could be a good match. You will receive a short profile for each advisor, explaining their specialties and certifications and their contact information.

It’s up to you whether you want to contact any advisors, and they won’t receive your contact information. Wealthramp says the advisors chosen for you will not send you marketing emails.

Contact them for an initial meeting if you are interested in any of the advisors. From there, the process depends on the advisor. Wealthramp makes the initial connection, and after you contact them, each advisor handles the relationship from that point on.

Financial Advisor Services and Requirements

Each financial advisor who participates in the Wealthramp network runs their own practice, with their own rules, requirements and specialties.

Most offer investment management services. You could also request to be connected with financial planners, where the advisor gives you advice, but then you run the investments yourself. Some advisors have specialties like environmental, social and governance (ESG) investing and retirement planning.

There is no minimum investment required to use the Wealthramp service. However, advisors could have their own minimum portfolio size for taking on new clients. When you fill out the questionnaire, you list your total current investment portfolio balance and Wealthramp matches you with advisors where you meet the minimum.

Wealthramp Financial Advisor Selection Process

Not just any advisor can join the Wealthramp network. The network includes exclusively fee-only advisors, none of whom accept commissions from selling investment products. In addition, all of the network’s advisors must be fiduciaries.

Advisors apply to join the Wealthramp network. The company investigates their qualifications and ensures they have no serious outstanding client complaints. They also make sure the advisor’s fees are within a reasonable range.

From there, an advisor must pass an interview with Wealthramp’s founder, Pam Krueger. Only then will an advisor be allowed to join the network.

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