3 Simple Things with Pam Krueger, Founder and CEO of Wealthramp, an innovative private company focused on matching investors to financial advisors. www.wealthramp.com
What does Wealthramp do?
Wealthramp helps people find and connect with fee-only, fiduciary financial advisors. That means an advisor that works for you – not a bank, brokerage firm or insurance company – and has your best interest in mind. Everyone’s financial circumstances are unique, so financial advice can’t be one-size-fits-all. In 3 easy steps, Wealthramp’s proprietary platform matches consumers to best-fit independent advisors based on personal needs and preferences, including preferred fee model, how a client wants to interact with an advisor, and unique situations such as a child with special needs, concentrated stock ownership, or life event planning.
You’re an investor advocate and longtime co-host of Moneytrack on PBS, what would you advise investors do right now?
The last couple weeks have been challenging for all of us, and COVID-19 is now disrupting our finances. The stock market is in bear territory, making it easier to make emotionally-based and potentially irrational investment decisions. I’ve lived through financial roller coaster rides, and anyone that’s seen me on MoneyTrack knows that the worst thing you can do is to make financial moves out of fear. We just posted a very short video with the 3 most important questions to ask your financial advisor right now. And if you don’t have a trusted fiduciary financial advisor, please know that Wealthramp.com as well as me, personally, are here to help. https://www.youtube.com/watch?v=jhlXD6zpaqw
In this tumultuous period for consumers, what is an innovative fintech company like Wealthramp doing now to gain traction?
We’ve always said that the time to start working with a fiduciary advisor you can trust is before a catastrophic event. As the dust begins to settle, people are going to realize that they wish they had expert financial advice at the ready. We want to make sure that we are visible when consumers are ready for help. So media exposure now is extremely important. Over the last year, we built out our advisor network across the country, so it’s the right time for us to access national media. This week, we hired an expert PR firm – led by a key member of the PR team that launched Sallie Krawcheck’s digital advice platform. We want to do everything we can to help people make the best decisions about who to turn to for help. That’s our number one job. We’re also partnering with employers to reduce financial anxiety in their workforce at this difficult time.