Our History
Our business originated in February 2000 as a wholly-owned subsidiary of Anderson Partners Chartered Accountants. We were established with the purpose of meeting the financial planning needs of this existing client base and have since evolved into an privately-owned, full-service firm. While Bridgewood is a separate legal entity we do share a unique relationship with ‘Anderson Partners’ in that we share offices in St Kilda Rd.
In March 2011 we applied for and were granted our own Australian Financial Services License (AFSL) by the industry regulator, Australian Securities & Investment Commission (ASIC).
The Continuum of Advice
We believe receiving straightforward and cost effective advice is crucial to success; it allows you to remain focused on the outcome(s).
When providing advice we acknowledge that investors have a hierarchy of needs (along the lines of that outlined by the psychologist Abraham Maslow). When you are seeking advice it is expected that you aim to fulfill your basic needs first before satisfying your more complex needs.
Our concept of ‘holistic advice’ encompasses these basic psychological principles in that we aim to define your needs and develop strategies that target your immediate needs first while planning for your longer-term needs too.
Due to this approach we look to build a longer-term relationship with you in order to add value through the advice process layer-by-layer where each step seeks to take you higher up your own hierarchy of needs so that you focus on the activities that we believe are more important in life. After all, money is merely a means to an end.
Industry research (by ASIC and others) supports this approach in that investors generally prefer piece-by-piece advice to meet their needs.
What makes us different
Bridgewood Private Wealth is a privately-owned financial advisory business. We acknowledge each individual is different so we provide tailored financial advice on a predominantly fee for service basis.
Privately Owned
In an industry dominated by banks and insurance companies we pride ourselves on being a privately owned business. It allows us to offer advice and solutions based on what we believe is best for our clients; we are not agents pushing a financial institution’s agenda. We have built this business from the ground up so that we could enhance the overall client experience; we want a valued client relationship for life, not a transaction.
Tailored Experience
At BPW we deliver a tailored solution to clients. That means getting to know our clients current situation, understanding what motivates them and where they want to go. We then provide them with a plan that is unique to them and ongoing support to help them achieve their financial and lifestyle objectives. Every client has a dedicated senior financial adviser who is available to deliver a direct and personal service.
Extensive research
Our advice, be it strategic or investment strategy advice, is backed by extensive research. Each month we devote time to more than 25 face to face meetings and research briefings. We don’t believe in cutting corners and using pre-packaged investments or strategies. Our advice is backed by in depth analysis with the aim of delivering high quality, tailored solutions to clients.
Managing the ‘Human Factor’
An important part of our job is to help our clients avoid financial pitfalls. A significant portion of investor returns are lost due to falling into common behavioral traps (the most common being the human tendency to buy high and sell low). We help to avoid such traps by tailoring a solution for clients and working with them through the years to ensure they reach their goals.
Our associations
Anderson Partners Chartered Accountants - We operate from the same offices as ‘Anderson Partners’ and although our businesses are separately owned legal entities all of our staff have a healthy working relationship.
Alpha Group - Alpha group is a collective of privately-owned financial planning groups which meet on a regular basis to discuss issues of common interest. The objective of our relationship with Alpha Group is to improve our skills and outcomes for clients by working with a respected group of our peers.
Financial Planning Association (FPA) - Jake Mounsey is a Certified Financial Planner (CFP) member of the Financial Planning Association. FPA members work to higher professional and ethical standards than the minimum levels required by law. CFP members have achieved the highest certification available to financial planners worldwide.
Association of Financial Advisers (AFA) - Nicholas McKay is a member of the Association of Financial Advisers. The AFA's main objective is to provide members with a united voice, continually improve practises and focus on the future of the financial advisory profession.
Unified Property Group Ltd - Bridgewood works closely with Unified Property Group ('Unified'), a boutique property syndicator for high net worth individuals and superannuation funds. Unified holds its own Australian Financial Services License with the Australian Securities and Investment Commission (ASIC).