The Mission: Serving the Financially Underserved
Growing up in a LMI household in Queens NY, money was a scarce commodity. Like many American households, my mother worked to stretch her paycheck simply to her next paycheck, unable to save anything at the end of the month and build wealth.
The American education system has failed to provide adequate financial education for our youth and young adults. One needs to pass exams and courses to become a financial advisor, yet many people act as their own advisor. And by the figures, most Americans are unable to manage their finances adequately.
This isn’t necessarily their fault, constant inflation pressures with stagnating wages make it difficult for even those with some financial education to build the wealth they desire. This is where a financial advisor can come in to help. Building a financial plan and investment portfolio tailored to your specific needs does require expertise. The issue then becomes the cost of such advice.
Most advisors are compensated in one of two ways: as a percentage of Assets Under Management (AUM), i.e. the money you give them to invest, or a flat fee. If it's the ladder, this will generally be a 4 or 5 figure bill each year. They may also charge a one time fee to build you a customized financial plan, which will generally cost a few thousand dollars.
How can someone who doesn’t even have a few thousand dollars sitting around afford such advice? These are precisely the people who need financial advice the most, yet are completely priced out of the industry. People can access general financial advice online, and more customized advice through AI or robo-advisors, but there’s still value in working with a person who understands the financial and emotional ramifications of your decisions.
EV Capital Management was founded for those in this situation; who need expert financial advice but have been priced out of the industry. We offer affordable pricing for both financial planning and portfolio management services so we can pursue our mission of serving LMI households, small businesses and early stage entrepreneurs, what we deem the ‘Financially Underserved’.
If you’re ready to get your financial plan in place with actionable advice at a reasonable price, schedule a call with us today.