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Sandy Swanson Discusses the Downside of Specialized Wealth Advisors with MarketWatch

By Potentia Wealth


A new trend has emerged among wealth advisors to help them stand out to potential clients: Narrowing their focus to a particular segment of the workforce. While working with a wealth advisor who understands your career can help you combat special challenges and financial issues in your particular field, this specialized approach also comes with its own set of risks. MarketWatch recently spoke with Potentia Wealth Private Wealth Advisor Sandy Swanson to learn more.

According to Swanson, while a specialized wealth advisor can help you take full advantage of benefits specific to your profession, it can also cause you to miss out on some valuable investment opportunities.

“It can make sense if an adviser understands your profession really well, like if they know teachers’ retirement plans and 403(b) rules,” Swanson explains to the publication. “But if I’m a teacher who puts all my money in my 403(b), my advisor might not be able to take advantage if they lack a wide scope of investment choices. You may miss out on some opportunities, like non-traded REITs or a new cannabis ETF.”

Click here to read the entire MarketWatch article.

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