We’ve assembled the questions below to help you understand how our financial advisory practice differs from others.
How can a financial advisor help me?
A financial advisor can help you clarify and prioritize your goals, provide strategies and solutions that potentially enhance and maximize your assets in relation to those goals.
What is a Registered Investment Advisory firm (RIA)?
An aggregator of specialty strategies, wealth management tools and technology made available to Investment Advisor Representatives of the firm. An RIA firm sits on the client’s side of the table and executes the advice of your Investment Advisor Representative.
How do I know my funds are safe with you?
Your funds are not held directly by us. They are held at a 3rd Party custodian. TD Ameritrade is one of the largest, most secure custodians. You, the client, are the only individual with direct access to your funds. You will be provided with 24/7 online access to your holdings and the option to receive monthly statement reporting via paper or email.
What separates you from other financial advisors?
We are a specialty wealth management firm specifically dedicated to the unique financial issues facing pre-retirees and those already in retirement. As independent financial advisors with a fiduciary level of responsibility we are required by law to serve your needs above our own. Our planning process is education-based, focused on understanding and developing solutions for your specific situation.
What does it mean to be a fiduciary?
As an investment adviser we are a “fiduciary” to our advisory clients. This means that we have a fundamental obligation to act in the best interests of our clients and to provide investment advice in our clients’ best interests. We owe our clients a duty of undivided loyalty and utmost good faith. We shall not engage in any activity in conflict with the interest of any client, and will take steps reasonably necessary to fulfill our obligations. We must employ reasonable care to avoid misleading clients and must provide full and fair disclosure of all material facts to our clients and prospective clients.
Is every financial advisor firm required to be a fiduciary? What is the difference between a suitability standard and a fiduciary standard as it relates to financial advice?
No. Let us explain… There are three main channels of financial advice:
1. Insurance Licensed Only Agent
They are going to talk to you about Cash Value Life and Annuities. These are the only products they can offer. They have a suitability standard.
2. Broker-Dealer Channel (Merrill Lynch, Ameriprise, etc.)
They sell you Stocks, Bonds, Mutual Funds and Variable Annuities. This is a sales-oriented model. They have a suitability standard.
They are held to the fiduciary standard in regard to their investment advice and recommendations for you. The fiduciary standard legally requires that the recommendations be both suitable as well as in your best interest from a risk, performance and compensatory standpoint.
Is there a cost to meet with you?
No, our Second Opinion Service and New Client Review are complimentary.
How do you communicate with your clients?
First 90 Days:
During the on-boarding process you will be updated weekly on the status of your transfer of funds and provided with all servicing issues via email and phone.
Second 90 Days:
Once your accounts are funded and fully invested we maintain a close vigil to ensure that you are getting off to a great start. This may require subtle changes or updates to the original plan based on unforeseen economic conditions, but will always be recommended to provide you with the optimal opportunity for success.
Frequency of client meetings and reviews are customized to each client’s individual needs.