Insurance, wealth management agencies forge relationship

The Peter M. Bakker Agency, Inc., a 42-year-old insurance agency headquartered in Avon, recently forged a relationship with Visionary Private Wealth Management Group and both companies are now located under the same roof at 302 W. Main Street in Avon.

“After a very intense vetting process I decided to forge a relationship with Visionary Private Wealth Management Group, a Registered Investment Advisory (RIA) firm based right here in the Farmington Valley,” Bakker said. “After learning the difference between a broker and a fee-only registered investment advisor, we wanted to make sure we partner up with a firm that has a fiduciary responsibility to place clients’ interest ahead of theirs.”

Being a fee-only RIA means that the firm has a legal obligation to act as a “fiduciary” and to always put a client’s best interests first. Most financial professionals act as a broker/agent and represent a specific financial institution.

“Visionary’s mission is to provide strategic and tactical financial guidance along with customized investment management,” Bakker said. “This partnership will allow us to more effectively assist clients as they pursue their long-term financial and investment goals.”

As a “fee only” RIA, Visionary acts in a fiduciary capacity for their clients and does not receive commissions, thus providing transparency to their clients.

“The Bakker Agency has a history of making sure their employees put their clients’ interests ahead of their own financial gain, and it has been our experience that very few insurance companies follow this ethical standard,” said Michael Mezheritskiy, co-founder of Visionary Private Wealth Management Group. “We are extremely excited about our venture to work closely with the Bakker Agency, as both firms share the same values of putting the clients’ interests first.”