February 2022 Issue: It's the Right Thing to do-It's the Right Thing to do by Charles Zhang

It's the Right Thing to do by Charles Zhang

Pdf Summary

Charles Zhang is the founder and president of Zhang Financial, a financial planning firm based in Portage, MI. With over 1,500 clients and $4.5 billion in managed assets, the firm specializes in providing sound financial advice, tax planning, and retirement planning services. Zhang's typical clients include those with $2 million to $50 million in investable assets, including younger clients in tech or startups, pre-retirees, and Fortune 500 executives.<br /><br />Zhang's journey in the financial planning profession began with IDS Financial Services, where he quickly excelled and became a franchise owner. He eventually became a member of the firm's president's advisory council and ranked among the top advisors in the nation.<br /><br />In 2010, Zhang decided to strike out on his own and transition to a fee-only model. He dropped all commission-based licenses, registered with the SEC, and joined NAPFA. Today, Zhang Financial is the top-ranked independent financial planner in the country.<br /><br />The firm focuses on low-cost investment vehicles, including ETFs and mutual funds, and overweighting asset classes such as value and small cap. Zhang believes in the long-term premiums these investments offer.<br /><br />Zhang's commitment to giving back is evident in his philanthropic efforts, including donations of over $15 million to various charitable organizations. He and his wife also established the Charles and Lynn Zhang Career Center at Western Michigan University to help increase diversity within the financial planning profession.<br /><br />Looking ahead, Zhang expects the firm to reach $10 billion in assets under management within the next five to seven years. He aims to focus on maintaining a high client retention rate and spreading the message about the benefits of working with a NAPFA fee-only advisor.<br /><br />Zhang is also working on a succession plan for the firm, with some staff members becoming partners and his son joining the firm in the future. Despite the focus on growth, Zhang emphasizes that the ultimate goal is to solve problems and help clients achieve their financial goals.

Keywords

Charles Zhang

Zhang Financial

financial planning

Portage

managed assets

tax planning

retirement planning

fee-only model

low-cost investment