Waterstone Wealth Advisors was founded in April 2006 by John C. Moynihan, Certified Financial Planner® and Managing Member of the firm. Before this John was a member of the elite Platinum Financial Advisors team with one of the leading financial planning firms in the country.
The desire to work in a financial planning firm began when John met his wife Wilma in 1993. Wilma had been widowed in 1991 and left with two young children, a daughter aged three and a son aged one. Because Wilma and her husband had worked with a financial planner for several years before his death Wilma and the two children were left in an adequate financial position; she could keep living in the family home and not have to return to work right away. Most importantly she had the opportunity to be home and spend priceless time with her two children as they grew. This was the power of financial planning. However, when Wilma brought the death benefit proceeds to her financial advisor she was advised to put almost one third of these funds into illiquid limited partnerships. This was the power of commissions and sales incentives.
The lessons from this story and recent Wall Street history are clear: the evidence is overwhelming that clients are better served in a relationship where conflicts of interest are minimized and fully disclosed and where the client always knows how and how much the advisor is being compensated. This allows both the advisor and the client to focus on those issues that are most important and vital to the client.