Madrid Wealth Management
CEO/ Wealth Advisor
(505) 633-5332 info@madridwealthandtax.com
We are Fiduciaries
As fiduciaries, our responsibility is to put our client's best interest before our own. We also have a duty of loyalty to our clients. At Madrid Wealth Management, we will always serve as a fiduciary for our clients, and we will put it in writing.
We are Fee-Only Advisors
Financial advisors are compensated in different ways. Advisors can be compensated by a commission, a fee, or a combination of both. We do not accept commissions or any compensation from third parties. The only fee we receive is directly from our client, which is called a Fee-Only advisor. More information on Fee-Only can be found at on the CFP® Board's website, including a video comparing Fee-Only with Fee-Based - click here.
Paul Madrid is also a member of the National Association of Financial Planning Advisors and the XY Planning Network. Members of these organizations are subject to the fiduciary standard and can only operate as Fee-Only advisors.
We Have Various Designations
There are many financial advisors to serve clients. All advisors must pass a securities exam for licensing and must be registered with a regulatory agency to give investment advice. Advisors are not required to obtain additional designations. At Madrid Wealth Management, our advisors are encouraged to pursue additional education and credentialing to expand their knowledge and better serve our clients. Those designations include the Chartered Financial Analyst®, Certified Financial Planner®, and the Accredited Investment Fiduciary Analyst®, or Accredited Investment Fiduciary®. Details on these designations are below and included on our Form ADV Part 2B.
CFP® (Certified Financial Planner®):
Paul Madrid is certified for financial planning services in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). Therefore, Paul Madrid may refer to themself as a CERTIFIED FINANCIAL PLANNER™ professional or a CFP® professional, and Paul Madrid may use these and CFP Board’s other certification marks (the “CFP Board Certification Marks”). The CFP® certification is voluntary. No federal or state law or regulation requires financial planners to hold the CFP® certification. You may find more information about the CFP® certification at www.cfp.net.
Chartered Financial Analyst (CFA®):
The CFA charter is a graduate-level professional designation established in 1962 and awarded by CFA Institute. To earn the CFA charter, candidates must pass three sequential, six-hour examinations over two to four years. The three levels of the CFA Program test a wide range of investment topics, including ethical and professional standards, fixed-income analysis, alternative, and derivative investments, and portfolio management and wealth planning. In addition, CFA charterholders must have at least four years of acceptable professional experience in the investment decision-making process and must commit to abide by, and annually reaffirm, their adherence to the CFA Institute Code of Ethics and Standards of Professional Conduct.
Accredited Investment Fiduciary Analyst (AIFA®):
The AIFA® designation is certified by the Center for Fiduciary Studies. AIFA designees are trained to conduct fiduciary assessments and have knowledge related to fiduciary best practices, roles, and responsibilities. To earn the AIFA®, candidates must have the Accredited Investment Fiduciary (AIF®) designation as a prerequisite. The candidate must attend a 3 day classroom program and pass a final certification exam to be awarded the designation. 10 hours of continuing education is required each year.
Accredited Investment Fiduciary (AIF®):
The AIF® Designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a rigorous training program, which includes a comprehensive, closed-book final examination under the supervision of a proctor, and agreement to abide by the Center’s Code of Ethics and Conduct Standards. On an ongoing basis, completion of continuing education and adherence to the Code of Ethics and Conduct Standards are required to maintain the AIF® Designation.