What is Harness Wealth?
Harness Wealth was founded in 2018 as a digital matchmaking service for individuals and financial professionals. Its target customers skew young, and particularly, it aims to attract those accumulating wealth, increasing their earning power, and who may require assistance managing their finances.
What does Harness Wealth do?
Harness Wealth is a digital marketplace that simplifies the search for a financial advisor by offering personalized matching based on detailed questionnaires.
On the Harness Wealth platform, clients can gain access to a curated network of diverse financial professionals, empowering them to make informed choices based on transparent advisor profiles. The goal is to make it easier than ever to find an advisor who’s a good fit for an individual’s specific situation.
Harness Wealth’s management focuses on utilizing its proprietary algorithms to match clients with experts who possess the expertise and experience required to address their unique financial needs and goals.
Furthermore, the platform offers ongoing support, resources, and additional services, including financial tools and access to tax and estate planning experts, to create a comprehensive financial wellness solution.
What are the pros and cons of Harness Wealth?
Harness Wealth has advantages and disadvantages. These include:
Pros
- Personalized matching ensures advisors specialize in your specific needs.
- A curated network saves time on research and due diligence.
- Transparency allows informed decision-making through detailed profiles.
- Complementary services that may enhance financial literacy.
Cons
- High minimums may limit accessibility for some.
- Limited advisor pool compared to other options.
- Less direct control over the advisor selection process.
What financial services does Harness Wealth offer?
Harness Wealth offers personalized advisor matching tailored to your financial needs and goals, connecting you with experts in investment management, tax planning, and estate planning.
Beyond that, it offers complimentary financial planning tools, educational resources, and access to tax and estate planning professionals to create a comprehensive financial wellness solution.
What fees does Harness Wealth offer?
Harness Wealth doesn't charge any fees for its platform or matching services, making it accessible to a wide range of individuals seeking financial guidance.
However, it's important to be aware that the financial advisors you connect with will have their own fee structures. This means that the overall Harness Wealth cost and related services will differ. In other words, Harness Wealth is a free platform to use, but you will pay for services directly from the advisor that you choose on the platform, assuming you choose to work with one.
These fees can vary based on the specific services you require and the advisor's expertise.
Typically, investment management fees start at around 1%, while financial planning, tax services, and estate planning are often charged as flat fees. Some advisors may also offer their services on an hourly basis.
One key benefit of Harness Wealth costs is the provider’s commitment to transparency and fairness. They ensure that advisors on their platform cannot charge higher fees to clients who come through their service than clients acquired through other channels.
What technology does Harness Wealth use?
Harness Wealth utilizes powerful technology to create a more efficient and personalized financial advisory experience.
At its core lies a sophisticated matching algorithm that analyzes client data to connect clients with suitable advisors who specialize in their needs.
Data collection and analysis play a crucial role in refining this algorithm and gaining insights into client trends and advisor performance. The platform also employs a user-friendly interface, ensuring a seamless experience for clients and advisors through features like interactive profiles and secure communication.
Robust security measures protect sensitive financial information, and compliance with financial regulations is prioritized.
Is Harness Wealth secure?
In addition to secure technology, Harness Wealth prioritizes security through robust measures like data encryption, secure storage, and multi-factor authentication.
Regular audits and updates help them stay ahead of threats, while compliance with financial regulations ensures data privacy. Employee training further minimizes risks. Though no system is foolproof, Harness Wealth's focus on security demonstrates a strong commitment to safeguarding client information.
Additionally, the firms that are active on or presented by the platform need to pass an evaluation process, which includes being registered with the U.S. Securities and Exchange Commission, among other things.
Does Harness Wealth have good customer service?
Harness Wealth customer service is offered through a dedicated concierge team, which provides support via phone, email, live chat, and video calls.
The team proactively communicates with clients throughout the process and gathers feedback.
Harness Wealth reviews found online generally reflect positive experiences, highlighting the team's responsiveness and helpfulness.
Get expert financial advice
Harness Wealth’s matchmaking platform may be worth checking out for those seeking sound financial guidance to ensure they make the most of their hard-earned money.
Make finding an expert financial advisor easy with Unbiased. By getting matched with an SEC-regulated advisor, you can ensure that you get expert advice about your specific financial situations and goals.