You might have heard of All Seasons Wealth if you’re looking for financial advisory firms in Tampa. They make many claims about putting their client’s interests ahead of their own. But in reality, that’s far from the truth.
This is a shady firm that uses unethical tactics to trap investors in unfavorable agreements. The following review will shed more light on it:
About All Seasons Wealth
All Seasons Wealth is a financial advisory firm based in Tampa, Florida. Its office is located at 100 N Tampa St #3750, Tampa, FL 33602, US, and the contact number is 813-490-6610. They are a part of Raymond James Financial Services.
Jeff Hausinger is the president and CEO of this firm while Matthew Coffey is the director of national sales. Other notable people at this firm include Jason Dimeo, Dustin Henderson, Sanjiv Saste, and Bryce Alley. They cater to high-net-worth individuals, professional athletes, professionals, corporate executives, corporate clients, high-net-worth families, and young professionals.
The firm claims to follow a fiduciary standard through the service. They also claim to place your interests ahead of their own, which is false because their provisions tell an entirely different story.
Some of the services you can avail of here are:
- Asset management
- Executive solutions
- Retirement planning
- Estate planning and charitable giving
- Financial planning
The disclosures of this firm indicate that it’s more profitable for the firm to ignore your interests. As you’ll read in the next section of this review, they have multiple problematic provisions in their terms and conditions.
Issues Present in All Seasons Wealth You Should Know
Jeff Hausinger and His Conflicted Past
The CEO and President of this firm are Jeff Hausinger and his FINRA BrokerCheck says that he has had two legal disputes in the past.
His first FINRA BrokerCheck disclosure is an employment termination notice. In 2010, he had to take voluntary resignation from his position at Merrill Lynch, Pierce, Fenner & Smith Inc.
The cause was an internal review concerning potential violations of firm policies regarding communications with clients and the public, employee conduct, and impermissible payments.
Media reports were suggesting that he gave money to a third party, who was not a Merrill Lynch customer. He denied all allegations and claimed that Merrill Lynch had made false allegations.
Did You Know?
According to Fraud Act 2006, a guilty fraudster is convicted according to the severity of the fraud.
- For summary conviction the guilty is sentenced to imprisonment up to 12 months and fine (mostly not exceeding the statuary amount).
- For conviction or indictment, the sentence exceeds 10 years, along with exceeded fine.
His second dispute was with a customer and it happened in 2016. Here, the client claimed Jeff Hausinger didn’t act on his instruction to invest his money in low-risk investments. Jeff called these allegations false and claimed that he is not responsible for any of his “so-called losses”.
These disclosures show just how professional and reliable the All Seasons Wealth CEO is.
He lost his last job for allegedly sending money from his firm (or his client) o a third party. This is a huge red flag.
Putting Clients at Excessive Risk
A close look at the terms and conditions of All Seasons Wealth shows that this firm recommends products that charge performance-based fees. On paper, this fee structure seems quite attractive but it is quite dangerous because it incentivizes the advisor to implement high-risk strategies.
High-risk strategies, as the name suggests, usually fail. As a result, the investor suffers losses or at best, receives poor returns. What’s worse is that you can’t hold your advisor responsible for the losses you suffer because of these high-risk strategies.
That’s because you sign a waiver at the beginning of your professional relationship with them which frees them of any responsibility whatsoever. That’s why Jeff Hausinger was able to get away scot-free in his latest dispute.
Side-by-side Management
All Seasons Wealth performs side-by-side management. This means they handle large clients at the same time they manage smaller retail accounts. Side-by-side management leads to low-quality service for clients with mid-sized or small portfolios.
The firm claims that it caters to high-net-worth individuals, families, and institutions while also providing its services to young professionals.
When an advisory firm performs side-by-side management, it tends to allocate most of its resources to its larger clients. This leaves little to nothing for the smaller clients.
To save their time and efforts, firms like All Seasons Wealth start giving cookie-cutter advice to their clients. They take a glance at the client’s profile and make generalized recommendations instead of giving personalized advice.
Cookie-cutter advice is terrible for an investor because it would never yield optimal results. Moreover, by the time you’ll realize that you missed out on optimized returns, it would’ve been too late.
So, avoid firms that perform side-by-side management. Sadly, All Seasons Wealth is one of them.
Conclusion
All Seasons Wealth makes many claims about its expertise and how much it cares about its customers. But the truth is, the firm doesn’t care about the interests of its clients at all.
It has sketchy leadership and multiple provisions which incentivize them for ignoring their clients’ interests. Avoid such firms at all costs.
People should avoid investing with All Seasons Wealth due to their shady terms and conditions. May the lord save people’s money and time from investing in such fraudulent companies. The time has come when people will underestimate the feelings of humans for the sake of money.
“All Seasons Wealth – I just want to say, in my opinion, they are fantastic. There is a lot of work involved in building my portfolio, but the people there have always been really helpful in explaining everything that is going on and it’s been great for me.”
“Wealth advisor, All Seasons Wealth has been helping me plan for my future. They recently helped me move some of my investments over to their firm and it has not only been a great decision, but I am saving money on my taxes as well.”
“I was looking for a company to manage my investments and I was very happy when I found All Seasons Wealth. The management team has been very helpful and gives us everything we need to reach our goals without fail.”
“This company has helped me reach my financial stability. I feel at ease and relaxed about the future. Thanks to the team at All Seasons Wealth, I am happy where I am now in life.”
I suspect he is telling his employees to write fake reviews for All Seasons Wealth. I have worked with them and my experience was never this ‘good’.
As a former employee, I miss them .. it’s a great company to work for. I, unfortunately, had to leave as I was moving, but the company provided me with a career path and good savings to help me plan my future and move.
I don’t know what all these grievances are, but when I worked there, I only saw people who worked very hard to ensure their people got the best results they could. You go to advisors for advice if you don’t like it, just move on; you cannot get greedy and cannot think you know better as it then defeats the purpose. They know better that’s why you went to them in the first place, but it is just sad to see how some people can get greedy and nasty on the internet.
Jeff is an egoist. His staff doesn’t listen to you and he doesn’t care. Very pretentious.
What is this? I don’t believe any of this, I have known Jeff for so long and his staff and this all seems rubbish seems like someone is jealous.
I was never informed of this. These people lack transparency, that’s for sure.
I’m sorry but I disagree with these 5/5 reviews here. In my experience, Jeff and his staff is extremely disrespectful to its clients. They are the kind of people who smile in your face and call you names as soon as you turn around. I don’t recommend All Seasons Wealth.
I appreciate their attentiveness and the various ways they show their appreciation for their clients… their expertise is reassuring.
I appreciate their attentiveness and the various ways they show their appreciation for their clients… their expertise is reassuring.
This is absolutely weird to read such bad reviews on the company when I have been getting such great service from these guys for years.
It is hard to imagine Jeff can be rude or insulting to his client where I found him extremely respectful , understanding and flexible for our needs and our time. Its been like 5 years we are working with him and me and my husband is absolutely satisfied.
I am not sure why there is this bad review I have been with them for years as a customer and the team is absolutely wonderful. I really feel Jeff Hausinger and his team goes over and above to help their customers.
I personally along with my family are extremely grateful for the support we get from the team. Because of them I feel my investments are secured even during this trying time of pandemic and upcoming recession. I do not think there was another way I could have survived this .
So whoever malign this company with bad company must be the competition..
All seasons wealth has no respect for its clients. They may have skills and expertise but the service is excruciatingly painful. Sometimes, it’s borderline insulting to work with these guys.
Agreed. They don’t value their customers at all. I had no idea they had such twisted provisions in their agreements.