If you’re a professional guardian looking for a partner to handle the financial aspects of guardianship in a way that allows for a high standard of care, we can help. Over the past 10 years, the team at Palm Avenue Wealth Advisory Group of Raymond James has developed a streamlined process for working with senior care managers, elder law attorneys and other types of guardians on guardianship accounts or court-restricted depository accounts.
We’ve made this a focus of our practice, and can assist guardians of an estate, collaborating with a ward’s care team with clarity and consistency. We have established a defined protocol for accepting, receiving and managing the assets of an adult who can no longer manage their own financial affairs.
Our experienced team has a background in both finance and healthcare, including Steven Grossman, a non-practicing licensed mental health therapist who once served as director of clinical services for Sarasota Memorial Bayside Center for Behavioral Health. Our practice remains connected with local healthcare organizations and institutions as part of our longevity planning focus.
The benefits of working with us include:
Help with fiduciary responsibilities. We are well-versed in working with the prudent investor rule. When you work with our team, we will strive to ensure the investments within the account align with the goals, risk tolerance and investment time horizon of the ward. Bonding requirements may be waived, depending on the situation.
From reviewing the language of the court order to selecting investments and continually monitoring them, we can help you with your guardianship needs.
*In an asset-based fee relationship, you pay a fee (charged quarterly) for the advice and services provided by your financial advisor as a part of the advisory relationship. This fee is based on the level of assets in your account, independent of the level of trading activity. By deciding to pay a fee based on services provided rather than transactions, you should understand that the fee may be higher than the cost of a commission alternative during periods of lower trading activity. Advisory fees are in addition to the internal expenses you may incur from mutual funds and other investment company securities. If you intend to hold these types of securities, you should consider internal expenses when evaluating the costs of a fee-based account, and reevaluate as necessary to be sure an asset-based fee is still appropriate for your needs.
Raymond James is not affiliated with the above organizations and/or charitable causes.
