2018 wealth management tips from Liz Shabaker
Principal and chief operating officer
Versant Capital Management, Inc.
Background: Shabaker is a member of the national Schwab Advisor Services Advisory Board, a board member of the Central Arizona Estate Planning Council, a member of the Financial Planning Association, National Association of Enrolled Agents, Arizona Society of Enrolled Agents, Planned Giving Roundtable of Arizona and is an adjunct faculty member for the Institute for Preparing Heirs. Shabaker’s reach goes beyond the financial arena into other community-related organizations. She is a member of ASU Women in Philanthropy, she serves as president of the board of directors for Free Arts for Abused Children of Arizona and is a member of The Planned Giving Committee of Phoenix Art Museum.
Trend to watch: “With the Department of Labor’s delayed plans to roll out its fiduciary rule of eliminating conflicts of interest among advisors when giving investment advice to people saving for retirement, it will be more critical than ever to make sure that your wealth manager and investment professional is a fiduciary that works in your best interest at all times. It is important to know what type of advisor you’re working with. Fiduciaries provide investment advice and services for a percentage of assets under management, and are legally obligated to their clients. This insight may save you a lot of money.”
Advice for 2018: “The importance of aligning your goals to your financial plan is paramount. Helping to identify tangible underlying goals makes it much easier to prioritize what are essential needs, wants, and aspirational wishes. Understanding these goals leads to a more accurate analysis of what you can reasonably expect to achieve and what additional actions or tradeoffs might be needed in order to get where you want to go.”