Blackstone Wealth Management is a Registered Investment Advisory (RIA) created to align the goals of the client and the advisor. In order to do this, the advisor’s compensation must be completely free of any conflicts of interest.
Years ago I was excited about being an investment advisor, but quickly realized that in most financial firms I was going to be a salesman. I would be working on a commission schedule, and could only make money if I convinced my clients to buy something new. Even worse, sales goals were skewed towards proprietary products and funds which would compensate the financial salesmen if he could steer the client a particular way. Conflicts of interests were inherent.
Stripping away the commission based sales model, and replacing it with a percentage of assets model, puts the client and advisor on the same side of the table. Under this system, client and advior interests are aligned. As you grow, we grow. The advisor has one goal: To increase the the value of the clients assets, period.
Disclosure: Blackstone Wealth Management is in no way associated with the "Blackstone Group" based in NY.