About Mark Meredith, CFP®
Economics and finance have always been my primary areas of interest. In the 5th grade I decided to do my science project where I compared a short-term trading strategy versus a buy and hold performance comparison. My father even wrote Warren Buffett a letter to tell him about it, and Mr. Buffett wrote back!
In 2010, I received a Bachelor’s degree in finance from Eastern Illinois University. After a brief stint at a national life insurance firm, I accepted a position as a financial advisor at a community bank.
In 2018 I was recognized by Forbes as one of the top 1,000 financial planners of the next generation. Shortly after that, our bank sold to another bank, and I decided it was time to move on and start a mission I had always envisioned by launching my own firm. My goal was to work with a smaller group of clients more closely, and reduce fees to a more equitable model.
My wife, Rebecca, and I are both from Collinsville, Illinois. We now reside in O’Fallon, Illinois with our three children, as well as our Jack Russell Terrier.
For more information on my background feel free to check out this blog post I wrote at the end of 2020: Ten Years as a Financial Advisor
A Fee-Only Registered Investment Advisor
Meredith Wealth Planning operates as a fee-only firm. The intention of this business model was to remove conflicts of interest that commonly exist between financial advisors and their clients. To take it a step further, a flat fee structure was implemented. This removes the incentive of becoming an “asset-gatherer”.
Managing investment assets is a core service provided by the firm, but we do not charge based on the portfolio size. More assets under management does not always mean more time and resources.
A fee-only registered investment advisor cannot receive commissions for selling products. We have one source of revenue, the annual client fee. We are required to adhere to a fiduciary duty at all times with the client.
This helps remove the conflicts of interest when choosing the proper products to help implement a plan. Clients no longer have to question whether an investment was recommended because it was in their best interests, or in the best interests of the person recommending it.
In the advisory industry many conflicts of interest continue to exist. Unfortunately, they are not readily apparent. To dig them up, one must thumb through countless pages of disclosure documents. While there are many good advisors working in the industry, their firm’s incentives are not always aligned with their client’s objectives. As Charlie Munger once put it “Show me the incentives, and I’ll show you the outcome”.
To read more about the services provided and fees charge at Meredith Wealth Planning, please visit the Pricing and Services page.