Do you receive compensation from any of the products you recommend?
Our only compensation is from our clients. We accept no compensation or incentives from any of the service providers we use on your behalf. We often negotiate vendor discounts, which we then pass along to our clients.
Where are my investments held?
Directly held investments (such as stocks, bonds, mutual funds, and ETFs) are generally custodied at TD AMERITRADE in accounts registered in your name, over which we have investment discretion. Pooled investments (such as limited partnerships, trust pools, and private placements) are administered through their respective general partners and back office administrators with the assets ultimately residing with the fund’s primary broker.
How are you regulated?
The firm is a registered investment advisor, meaning we are registered with the U.S. Securities and Exchange Commission (SEC) and must abide by the regulations and rules of that Commission. We are also subject to audits conducted by the SEC.
How do you protect personal information?
We understand that our clients entrust us with not only their investments but their personal information. We take industry-standard steps to ensure the safety of our data and networks. These steps include:
Hardware firewalls
Enterprise-wide anti-virus software
Redundant backups
Vigorously enforced policies and procedures
What are your minimums?
Our relationship minimums are $1 million of investable assets or an equivalent fee.
What are your fees?
Our fees vary, depending on the type of engagement – family office or wealth management.
Family Office: The fee is standardized and based on the following factors:
Investable assets
Complexity of the relationship
Number of households served
Services provided
These fees are bundled into an annual retainer, which is billed quarterly and reviewed every two years.
Wealth Management: For traditional wealth management engagements, the fee is an annual retainer, billed quarterly in arrears. The retainer is initially based on your investable assets and the following schedule:
Why charge a retainer fee when everyone else bases charges on assets under management (AUM)?
We want our compensation to be completely transparent and free of conflict. We feel that a retainer-based arrangement meets those requirements best. It allows us to recommend solutions (Roth conversions, life insurance, debt reduction, etc.) that actually decrease your investable assets without regard to our compensation. It also provides our firm with revenue visibility and the client with predictable expenses. In most cases, this provides a financial benefit to the client.
May I get access to the family office model even if I don’t have $10,000,000?
The $10 million number is an arbitrary threshold for the family office model that we based on affordability and suitability. If your net worth is below this level or your wealth is tied up in a closely held business, you may still benefit from a family office approach. Please call to inquire.