Peter Disch, Founder of Great Point Wealth Advisors LLC in Boston, explains how simplifying one’s personal finances leads to a greater sense of financial security.
By: Maria Williams
For many financial advisors, helping clients avoid making big mistakes in the financial world isn’t often an immediate goal, such is the rigors of having to meet that ever-elusive commission.
One financial institution, however, is seeking solace in helping its clients achieve financial peace of mind by simplifying the complexities of personal finance.
As fiduciary advisors, Great Point Wealth Advisors LLC is distinct in that they don’t sell products nor work on commission, thus allowing for a laser-focused approach to helping clients make the best decisions for their situation. Advocates if you will.
Let’s get to the background of the company. Great Point Wealth Advisors is a financial planning and investment management firm providing wealth advisory and family office services to clients seeking advice on issues from cash management to estate planning, asset allocation to charitable giving, and everything in between.
Peter Disch, Founder & Managing Member of Great Point Wealth Advisors, has been in the financial game for 22 years, yet is still relatively young at 44. The Connecticut-born Disch says simplicity is key to ensuring those seeking financial advice have a wall of trust that allows their chosen advisory service the freedom to provide the best possible service.
“Our whole thing is about instilling confidence in our clients,” explains Disch. “We want them to feel totally comfortable in our process and what we’re doing.” In doing so, Great Point Wealth hopes to remove 90% of the complicating factors, focusing on a small percentage of important financial matters. “Simplicity is the other side of complexity,” Disch reiterates.
Simplifying the process requires a degree of education so clients can make informed decisions and know exactly why they’re making them. “Education is a vital part of the fiduciary duty,” he says. “This, ultimately, leads to confidence—which, in turn, results in alleviating anxieties in other aspects of life. Mental health and wellness can be hugely affected by your financial stability.”
Disch has been recognized by Forbes as a Best in State Wealth Advisor since 2019, as well as being named on the publications list of America’s Top Next Generation Wealth Advisors. He explains that he navigates the education process with a classroom approach, utilizing the practical wisdom he accumulated as a Finance major in college. With a keen eye on trends, products, as well as the market itself, Disch runs the rule over risk management and risk tolerance, explaining that a lot of his clients come to Great Point Wealth having previously gotten it wrong.
“Most people fail to match the risk of their investment to the timeframe of a specific expenditure,” he points out. “For example, the decision to buy a house two years from now vs. a retirement plan should be treated very differently. This is because the market fluctuates and is unpredictable. For longer-term funds, such as retirement plans, an equity-heavy investment portfolio is necessary.”
This diversification style includes Disch and his team being in constant communication with their clients during any potential fluctuations so they’re kept adrift of market trends.
“As advisors who put our clients first, we help them plan accordingly to their end goal,” he concludes.
Disch concedes that the biggest mistakes clients make are selling low and buying high. “When the market crashes—like it did in 2008, the value of a portfolio goes down,” he explains. “The normal response from a client is to sell and get out. Unfortunately, this turns a temporary decline into a permanent loss. I liken it to seeing a product in a store with a 20% discount but then choosing to buy it when it returns to full cost.”
This was certainly evident during the Pandemic when many investors chose to sell because of the global recession and price drop. Those who chose to take Disch’s advice held onto their assets and investments and reaped the benefits of an upward term several months later. “No one ever knows what the equity market will do in the short term,” says Disch. “It could lose 40% or 50% at any time for any given reason. Over a six or seven-year period though, there’s a high likelihood that it goes right back up.”
Peter Disch is the Founder & Managing Member of Great Point Wealth Advisors LLC, a Boston-based fiduciary advisor, who empowers its clients to make informed decisions regarding their financial future.
Registered with the United States Securities & Exchange Commission, you can reach them via their website or social channels.
Published by: Martin De Juan
