To ‘prevail’ is to prove more powerful, to be victorious, and in the case of Prevail Innovative Wealth Advisors, to overcome challenges associated with constant changes in the marketplace and to provide more control over financial freedom. Sound enticing? We think so.
Who says finance can’t be fun? Meet one of Kansas City’s most experienced, successful, and entertaining financial planning organizations who regularly entertain their clients with annual events like March Madness parties and charity golf tournaments. This is just one of the many traits that make Prevail’s culture stand out and why their creative approach to wealth management is instrumental.
“Our culture is paramount. We work hard to build a brand and presence that makes sure people have fun and for them to not look at financial services as a negative; we are constantly bringing innovative ideas to the table. The way our culture makes both our advisors and our clients feel is infectious. ”
The founders boast an impressive record of success with the modernized vision in Prevail. They believe the traditional investment theory is broken, so they have taken a step back to create a better way forward to manage people’s wealth.
“We wanted to build an environment that people weren’t afraid to come to, where they say, not only do they perform well, but their culture is amazing. Our philosophy on how we deliver financial services and engage with our clients is different; we consider them to be friends and we strive for them to be excited about seeing our team.”
And, philanthropy is at their core. Each year they host Prevail Together in partnership with Team Up for Down Syndrome, and this charitable golf tournament has raised $400k to date. Prevail’s team prioritizes paying it forward: Their objectives not only include creating significance in their staff’s and clients’ lives, but also the community.
Additionally, while Prevail does tailor to higher net worth clients, they don’t require minimums. “If we are truly going to give back to our community, there are people with different aspects of net worth, and they all need help, whether just starting the stages to accumulate wealth or going through major equity events with significant amounts of money.”
Another attribute that differentiates them is operating in a team environment. “We are extremely young and have done that intentionally so you aren’t passed along once an advisor retires.” Their average age is in the middle to low 40s whereas the average industry age is 60.”
They believe everybody goes through different financial life cycles, so they have specialists focused on everything from estate planning, tax, mergers and acquisitions, and more, and they plug and play them into a financial board of advisors.
It’s living and breathing a truly consultative approach to give clients a multitude of ideas depending on the stage of their lifecycle. “We don’t believe any one advisor has the ability or expertise to take someone through every financial life cycle. You’re always going to have a team; the average team is 3 people and can be as many as 5 or 6.”
The number one question they get is “Will I have enough to retire someday?” Traditional investment theory will tell you what you need to accumulate to pull 4% off of your portfolio so it can last forever. “We don’t believe that tenant is correct, nor can most people save enough to maintain their lifestyle and only pull 4% off their portfolio.”
Several of Prevail’s founding members are heavily involved in Acumen, a local faith-based CEO community that has been instrumental in the building of their culture. “We live and breathe our values, and our engagement in Acumen consistently influences us to do the right thing at all times.” Those five key values include Integrity, Passion, Loyalty, Teamwork, and Creativity.
1) Volatility is built into today’s markets, and the traditional mutual fund buy-and-hold strategy can have challenges. “We are very active in how we trade accounts. We believe that a portion of a person’s portfolio needs to be a non-correlated asset or assets that don’t work up and down the way the stock market works but still create wealth.”
2) We believe that a portion of a person’s portfolio needs to be a non-correlated asset or assets that don’t move up and down the way the stock market works but still create wealth. Today’s markets have become extremely correlated. Having a portion of your portfolio that doesn’t follow the market can be impactful.
3) The portfolio should have some form of passive income which can be critical to mitigating volatility.
4) They believe taxes will be higher in the future. “How can we give more control back to clients, that if tax rates are higher in the future, they’ll have more options in a tax-free environment?”
Prevail doesn’t merely manage your wealth, they help you create it. They have won Best Johnson County Advisory Firm two years back to back. “The proof is in the pudding; our retention rates are phenomenal and people enjoy working with Prevail.”
Website: Prevailiws.com
The Shawnee Mission Post (“Sponsor”) award, provided to Prevail Innovative Wealth Strategies (“Entrant”) on September 28, 2023, and October 24, 2022, was based upon a voluntary submission by the Entrant to the Sponsor for the investment adviser category, subject to the Entrant agreeing to pay for advertising space in the Sponsor’s publication if such Entrant wins the category. Category winners are determined by a solicited vote through the Sponsor’s website. Anyone with access to the website can vote and the winner is determined by which Entrant receives the most votes. Certain persons that voted may be clients of Prevail Innovative Wealth Strategies.