Richard Dwayne Blair and his “three pillars” of success.

Richard Dwayne Blair, founder and owner of Wealth Solutions based in Austin, Texas, has a desire to make a positive impact on the lives of his clients and his community through his work. Wealth Solutions is a Registered Investment Advisory firm that Blair has run for over 20 years. Mr. Blair is certified in over five specialties in the wealth management industry, and has a strategy that he uses whenever he wants to determine which investment he will recommend to his clients.

 

Richard Dwayne Blair names his strategy the “Three Pillars” strategy, and it is the basis for all of his financial decisions. He uses this three pillar strategy to assess the financial background and abilities of his clients so that he can design a financial planning strategy for them. The first pillar is where the clients profile is research and built. The client’s financial strengths, goals, and tolerance for risk and opportunity is determined so that Richard can use the second pillar to determine a financial strategy. The second pillar is designed with the needs of that specific client in mind. Depending on the various attributes that Richard has determined through his research during the first pillar, he can determine which capital should be allotted to which particular investment because the client in mind has a specific range of growth, with a certain amount of liquidity created to possibly sustain that client, or supplement their income on the way up. All of this is simply preparation for the third pillar, or implementing the strategy.

 

Once Richard Dwayne Blair has spoken to his client about their goals and devised a plan to reach those goals while also providing another source of income, he then must execute this plan. The third pillar’s main focus is to review the details of the plan and while this plan is in action, to monitor it and compare it with the actual goals laid out in the first two pillars. If it is above the stated goals,the objective is to continue, while if the plan is beneath the goals set, evaluations and changes must be made.

 

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