Evoke financial advisors: what are the pros and cons?
Get a comprehensive overview of Evoke Financial Advisors, including their services, fees, technology, security, and pros and cons to help you make an informed decision.
Summary
Forbes awarded Evoke Wealth as one of the best RIA firms in 2022.
Evoke’s service offerings include investment management, retirement, and tax planning.
For expert financial advice, use Unbiased to find a trustworthy financial advisor who can help guide your financial decisions.
Evoke financial advisors: who are they?
Evoke Advisors, also known as Evoke Wealth, is a respected firm in Los Angeles that offers personalized financial strategies for ultra-high-net-worth individuals and institutions.
Their skilled advisors integrate modern technology with human insight to provide comprehensive financial solutions.
What does Evoke do?
Evoke Advisors' range of financial services include:
Investment management
Wealth management
Alternative investments
Asset management
Portfolio management
Pre- and post-sale planning
The firm prides itself on finding and using innovative solutions as part of its holistic approach, which considers short-term needs and long-term goals.
Evoke services also include insurance planning and education funding services.
What are the pros and cons of Evoke?
When considering an independent financial advisory firm like Evoke, it's important to consider the advantages and disadvantages carefully.
Like any other firm, Evoke has its pros and cons.
Pros of Evoke:
Evoke uses innovative methods to design its financial strategies to fit your specific investment requirements and objectives.
Evoke covers all aspects of your wealth management, including investment management and estate planning.
They use advanced tools to enhance their financial planning services.
Cons of Evoke:
Evoke's personalized approach may incur higher costs when compared with more generic services.
The wide range of service offerings might cause feelings of being overwhelmed by those new to Evoke financial planning.
As with many advisory firms, Evoke advisors may make recommendations that favor the products they sell.
What financial services does Evoke offer?
Evoke designed its financial services to help you manage and grow your wealth.
Their services include basic Evoke financial planning and more advanced investment strategies. If you need assistance with retirement planning, Evoke can help you create a plan to ensure a comfortable retirement.
They also offer estate planning services to help you manage your assets and ensure they are passed on according to your wishes.
Investment management is another core service where Evoke advisors can help you create a portfolio that corresponds with your financial and risk tolerance goals.
Additionally, Evoke offers tax planning services to optimize your tax situation while reducing tax liabilities.
Evoke can assist in education planning for those with families, helping you save for your children's future education needs.
What fees do Evoke charge?
Evoke Advisors operate on a transparent fee-based structure, meaning they charge for their services rather than relying solely on commissions from their products.
This fee structure often includes a percentage of assets under management (AUM), which typically ranges between 0.75% and 1%. Clients pay these fees quarterly and in arrears.
Other fees include hourly and transaction costs, but the first investment consultation with an Evoke advisor is complimentary.
What technology does Evoke use?
Evoke Wealth utilizes its own in-house technology infrastructure, overseen by the firm's Chief Technology Officer, José Garcia. He also oversees the firm's cyber security and has extensive experience with investment technologies.
The firm has a YouTube channel where it interviews individuals with market-leading insights (Master Speaker series). It also offers podcasts on quarterly market outlooks and is on LinkedIn.
Evoke security: is it secure?
Evoke uses top-notch cybersecurity measures to protect its clients' personal information and transaction history.
At its inception in 2019, the firm registered with the U.S. Securities and Exchange Commission (SEC) as an advisor, meaning it is held accountable and regulated when transacting.
The firm's privacy policy includes a section on ARIS (Advanced Research Investment Solutions, LLC) regarding the information it collects and shares regarding client investment transactions. ARIS protects personal information through its database infrastructure and behind firewalls.
It also adheres to various California laws that allow consumers to request evidence of how their information is shared and disposed of.
Does Evoke have good customer service?
Given their high-end customers, one would anticipate excellent Evoke customer service. However, given their broker status, E
Evoke clients tend to praise the personalized service they receive from the firm's advisors, as the firm handles its investors and investments professionally and ethically.
Get expert financial advice
Working with Evoke Financial Advisors has pros and cons, so it's essential to understand and compare their services, fees, technology, and customer support before deciding to go with them.
The firm offers a wide range of services for ultra-high-net-worth individuals and institutions and has several skilled Evoke financial advisors on their team to ensure personalized service.
For expert financial advice and to explore your options further, let Unbiased connect you with a financial advisor to guide you toward achieving your financial goals.
Writers
Our team of writers, who have decades of experience writing about personal finance, including investing and retirement, are here to help you find out what you must know about life’s biggest financial decisions.