Mercurio Wealth Advisors: Who to Know in Wealth Management

Alan Mercurio selected for “20 People to know in Wealth Management”

LOUISVILLE, KY / ACCESSWIRE / July 10, 2015 / ​Mercurio Wealth Advisors is proud to announce that Alan Mercurio, senior wealth advisor, has been selected for the Business First “20 People to know in Wealth Management” article.

When interviewed by Carolyn Tribble Greer, Digital Editor for Louisville Business First, Alan Mercurio,
a 29-year veteran of wealth management, gave a very non-typical
response to her question “What concerns them most about their industry
and what would they change?” Alan’s response, “I would require that all
advisers operate under a fiduciary standard. It’s hard to believe that a
Congressional study has to be done in order to determine if putting
your clients’ best interest first is really necessary.”

Alan was referring to the recent article in The Wall Street Journal.
The article explains that, currently, financial advisers registered
with the U.S. Securities and Exchange Commission are required to always
act in the best interest of their clients a standard called a fiduciary
duty.

But this standard doesn’t apply to all financial-service providers.
Rather, stockbrokers and others are expected to meet a “suitability”
standard – the investments they recommend need only be suitable for the
investor. That means that these professionals can recommend products
that earn them fees and commissions even though other products might
bring better returns for the client.

Mr. Mercurio was also asked to
describe an experience with a customer that was very gratifying to him.
Alan’s response was, “In 1997, I started working with a couple, managing
the wife’s investments only. The husband was a do-it- yourself guy, so
he handled his own. Upon his retirement in 2000, he made a tax mistake
that cost him about $200,000. He then asked me to manage his as well.
Over the years, I built a close relationship with the couple. In 2010,
they let me know that (the husband) had been diagnosed with Lou Gehrig’s
disease, and his health was declining rapidly. One Friday, knowing (his
wife) wasn’t able to leave the house very often, I let her know I’d sit
with (her husband) while she ran some errands. While talking with him,
he reached across and put his hand on mine, similar to how my dad did
one time earlier in my life, and told me, ‘You know you’re going to have
to take care of her.’ I’ll never forget that moment. That’s the real
relationship behind wealth management – trust.”

Sit back, listen and learn about making the most of your retirement
at any stage in life! Catch Alan, “Louisville’s Retirement Coach” every
Sunday on his radio show, Retirement 360 that airs on 84WHAS at 11am.

* Carolyn Tribble Greer, “What’s
on the minds of wealth managers? A rules battle over retirement
investments,” Louisville Business First, June 26, 2015

* Daisy Maxey, “Battle Continues Over Fiduciary Rules for Retirement Investments,” The Wall Street Journal, June 14, 2015​

SOURCE: Mercurio Wealth Advisors

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