Allan Flader knows a thing or two about money – and family. As managing director of Flader Wealth Consulting Group (FWCG) with the Royal Bank of Canada in Phoenix, Allan’s job truly is a “family affair.” His “dream team,” consists of his brother Michael, a specialist in retirement planning, brother Brian, a Chartered Financial Consultant and his mom, Norma, the bookkeeper. Chris Young, a Certified Financial Planner, is also on board. All are there to walk you through the daunting maze of the financial world. FWCG, which receives top rankings in the Phoenix Business Journal, Barron’s and the Financial Times, provides estate planning, portfolio management, tax minimization strategies and advice, life insurance and investment/stock advice. “We will talk to people having issues with Social Security, mortgage companies and even car dealerships,” explains Allan. “We also refer attorneys or CPA’s if need be. Any question people have we’re the ‘go-to’ people. If we don’t have the answer, we get it.”
Allan relates that the group is not interested in growth at any cost. “We are interested in long-term relationships that really help people, he explains. “It’s a pretty big responsibility. People work their whole lives and accumulate a big chunk of money they trust us with. We make decisions that change people’s lives.”
“It’s been a very smooth and symbiotic relationship,” says Michael. “Sometimes families say they can’t work with each other, but we don’t have that construct. It’s a more natural flow; an extension of the family relationship we have. There’s no water and oil here; we have no barriers and work everything out.”
The path to creating FWCG was steep and rocky, but the summit was always in Allan’s viewfinder. Graduating with honors from the University of Arizona was no guarantee of employment, as he soon found out. “I sent my resumes to E.F. Hutton, Merrill Lynch, Lehman Brothers and every financial organization I could think of,” he says. After a slew of rejections, he got hired as a financial adviser for Merrill Lynch. When asked who his clients were, he laughs and says, “whoever would take me! I worked extremely hard and did do some things that were unusual. For starters, I outworked everyone. Some days I made 300 phone calls a day, and worked to 8 pm every night.” Always looking for a cutting edge, Allan also took the initiative to receive the Certified Investment Management Analyst designation in conjunction with the Wharton School of Business while working for Merrill Lynch.
While finance clearly rocks his world, Allan is equally passionate about the Jewish community. He is a major sponsor of the Valley of the Sun Jewish Community Center and Jewish National Fund. He is also on the board of the Jewish Community Foundation and is a recipient of the JCC’s Irv Shuman award. “I have a hard time saying no,” says Allan, “so I support many organizations. This was the first year the temples in the East Valley combined their resources for a centralized Purim Carnival, and I was the major sponsor.”
While Allan lives by the creed, “work hard, play hard,” he makes time for renewal and balance. He treasures his time with his wife and kids and also revels in kicking back with friends, working out and seeking out new adventures. “I love going to new places, seeing how people live and learning about their cultures,” he says.
Allan admits he sometimes plays the part of psychologist with his clients. “People are emotional about money, which can knock them off course,” he says. “Market declines can cause people to panic, and that’s the worst thing they can do. I try to get people from point A to point B, but still stay on the train. Basically, I have to talk them into rational decisions, versus emotional ones.”
Another challenge according to Allan, is that in today’s technological worth, investors confuse information with knowledge. “A lot of information you read is downright wrong and can be detrimental. Even if information is accurate; it doesn’t mean it should be acted on. We are client focused and very concerned about our clients and doing the right thing.”
Flader Wealth Consulting Group is located at 2398 E. Camelback Road #700 in Phoenix. Contact them at 602-381-5388 or visit fladergroup.com.