In 2013, Equilus Group Inc. (EGI) was founded by Joel Frank, in Wenatchee, WA. EGI is a Registered Investment Advisory firm. Mike Musco, a Financial Advisor for the firm, resides in Bend. He meets with clients at the Equilus Capital Partners office in Bend’s Northwest Crossing.
Musco brings extensive experience to the EGI team, having spent eight years at Microsoft in business and finance management roles, and another eight years in mortgage finance. He has also been actively involved in real estate and business transactions, including owning and selling businesses.
Bend Lifestyle had a chance to sit down with Musco to discuss his role at EGI and what his firm has to offer clients locally.
What services does EGI offer clients?
Our financial advisory services include the following areas: financial, retirement, estate, tax, risk management and investment and wealth management, including traditional and alternative investments where appropriate.
What sets EGI apart from other investment companies?
We have a holistic approach to planning and cover far more than “just” investments. And, most importantly, we treat clients like family.
What are the biggest challenges facing investors today?
Inflation. Tax. Noise and misinformation. Another concern is that some clients have concentrated positions, meaning that they do not have a truly diversified portfolio. This is often because planning is not prioritized, falling into “important” but “non-urgent” category. And, planning is essential to the success of a client’s portfolio.
What do you feel is your role as a financial advisor?
It’s my job and top priority to learn all I can about my clients and their goals. That helps me analyze their financials thoroughly so that I can provide them with insight into ways that we can optimize their finances and investments. It’s important to me that I can advise clients in ways that align with their goals and implement a financial plan that meets their needs on all levels.
What are some common misconceptions people might have about financial planning and investment?
Many people believe that they need to have a minimum amount of assets. That is just not true. Currently EGI is moving toward a fee-based model that makes our services more accessible to a wider range of clients. Also, some people are under the impression that they will be told what to do. Instead, at EGI, we are more like a coach and on your side, like members of the same team. It’s also often assumed that working with a financial advisor is expensive and cost-prohibitive for many people. That is not necessarily true. The flip side of that is the fact that we deliver quite a lot of value in multiple areas to our clients. In fact, making mistakes on your own is often far more costly than working with an advisor.
What are the most important factors to consider before making an investment?
The client’s risk profile and the tolerance of the client for dealing with this risk. Also, it’s essential to consider the purpose and timeline of the investment.
How do you determine the right investment strategy for a client?
After we get to know our client and understand their goals and the purpose and size of their investment, we educate them on the different types of investment opportunities. The options available to a client are often based on minimum account requirements, tax implications where applicable, among other factors. Then we can begin to settle on a sensible allocation and go from there. It’s important for us to look at both a macro-view, while also looking at the details of each individual account.
Are you able to tailor financial and investment strategies for different ages and income levels, including high-net-worth individuals and young professionals?
Absolutely. We often help our younger professionals maximize their employer plans and help business owners maximize their tax deferral where possible. High Net Worth (HNW) cases also benefit from our tax planning, business planning, and both personalized and efficient portfolio management. Our HNW customers have the support of multiple CFAs/CPWAs/Fiduciaries within EGI while working closely with their individual advisor.
Is there anything one needs to do before seeking out a financial advisor and why is working with an advisor important?
Being honest about your own finances and financial situation with all its good/bad/ugly is important. We believe working with an advisor is essential since it will provide you with the accountability, knowledge, expertise, camaraderie and support for the long term journey.
What should someone look for in a financial advisor?
There are some firms that do not hold fiduciary responsibility. Even if they do, they may have access to only their firm’s products. Ask about their duty to you as the client, and what products and services they have access to. It’s also important to find an advisor you like and feel that you can build a relationship with. Trust is essential. Ideally, this will be a life-long relationship that will help you achieve financial success – whatever that looks like for you.
EquilusFinancial.com
"We have a holistic approach to planning and cover far more than 'just' investments. And, most importantly, we treat clients like family."
—Mike Musco, Equilus Group Inc. Financial Advisor