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Wealth Management Program
The purpose of the Wealth Management Program is for us to guide you through the ongoing process of managing your financial resources in a way that supports your financial goals. The Wealth Management Program includes both portfolio management services and financial planning services. We provide discretionary portfolio management to every Wealth Management client. We can also provide you with ongoing financial planning services if you wish. To get the most benefit from the Wealth Management Program, we encourage you to take advantage of our financial planning services. Our fees are the same regardless of how little or how much financial planning services you choose to receive. In addition, the Wealth Management Program includes unlimited consultation at any time on personal finance matters.
Financial Planning Services
If you choose to take advantage of our financial planning services (included in the Wealth Management Program), we will meet with you at the outset of our engagement to discuss the scope of services that you would like. Depending on your needs, we can address topics like optimal use of your cash flow, income tax opportunities, employee benefits, insurance planning, investment planning, and estate planning. We can also help you develop and implement on ongoing financial planning process.
For example, say that you would like us to help you, on an ongoing basis, identify and execute the behaviors and actions that will further your financial goals. Here is what we would do:
Both the advisor and client have important roles in this ongoing process. Our responsibilities are to (1) guide you through the planning process, (2) organize and track agreed upon actions, (3) analyze relevant scenarios and data, and (4) track metrics to assess your progress. Your responsibilities are to (1) ensure that your stated goals are current and accurate, (2) advise us regarding any major changes in your personal or financial circumstances, (3) provide us with relevant financial data about yourself, and (4) execute agreed upon tasks.
In addition, the Wealth Management Program includes
unlimited consultation at any time on personal finance matters. If you
have a personal finance question, you can contact us at any
Portfolio Management Services
We provide discretionary portfolio management to every Wealth Management client. When you first join the Wealth Management Program, we will guide you through the following process:
Then, we will draft a written investment policy statement that discusses your investment objectives, our investment management policies, and your portfolio’s target asset allocation. Once you grant us trading authorization over your investment account, we will proceed to manage your portfolio on a discretionary basis based on information about your financial goals for the portfolio, financial and personal circumstances, and risk tolerance that you communicate to us. We use mostly exchange-traded funds and mutual funds for client portfolios, and we favor low cost, passively managed investment funds, such as index funds.
We will arrange for a third-party brokerage firm (the
account custodian) that is unaffiliated with us to hold your account.
You will have direct ownership of the account with the custodian at all
times. You are free to terminate our services and transfer your account
to another custodian at any time. We do not impose any termination fees
other than paying our normal portfolio management fees through the date
Frequently Asked QuestionsThe financial planning services that are included with the Wealth Management Program sound very comprehensive. What if I do not want or need ongoing financial planning?
That is no problem. Discretionary portfolio management is the only service that we provide to every Wealth Management client. Other financial planning services are completely optional. Our fees are the same, however, regardless of how little or how much financial planning services you choose to receive.
What are the benefits of having you manage my portfolio?
We can manage your portfolio in an objective, disciplined, and tax efficient way. Also, making the right investment moves sometimes goes against our emotional tendencies. For many people, it helps to have an objective third-party investment manager make portfolio decisions.
If I hire you to manage my portfolio, how do I know that my money is secure?
We will arrange for a third-party brokerage firm (the account custodian) that is unaffiliated with us to hold your account. You will have direct ownership of the account with the custodian at all times. Our only access to your account is to view or download account information, enter transaction orders, set or change reinvestment or cost basis settings, disburse funds to you, transfer funds between accounts that are owned or beneficially owned by you, receive duplicate copies of account documents, and deduct our portfolio management fees. We cannot independently withdraw or transfer funds or securities from your account unless either (1) the funds or securities are being sent to you or another account owned or beneficially owned by you or (2) we are deducting our portfolio management fees. You will receive account statements directly from the custodian. You are free to terminate our portfolio management services and transfer your account to another custodian at any time.
Can I have Internet access to my investment account?
Yes. We can arrange for you to have Internet access to your account to view account information and download account statements and trade confirmations.
Is there a minimum account size for the Wealth Management Program?
There is no minimum account size, but there is a minimum annual fee of $10,000.
*Minimum annual fee (determined quarterly): $10,000
Please see our Form ADV Part 2A for more information
about our services, fees, and investment risks. Before we provide any
services to you, you will need to enter into a written client agreement
with us. Our agreement will describe the terms of our engagement.
All services and fees are subject to change at any time.