WHO WE ARE
Glance through the most commonly asked questions about our services. Click a question to view the answer.
Contact us for more information.
Q: Why should I offer investments to my clients?
Retain your client –Advisors have always been the leader when it comes to the financial side of a client. We historically are able to retain clients year after year because of the nature of our business.
Times are changing where all financial institutions are going after the relationship of being the “Most Trusted Advisor”. Larger banks are doing tax returns, payroll and offering financial planning. Insurance agents are offering banking products, life insurance, long-term care insurance and financial planning. Attorneys are being staffed by banks. Do you see a trend here?
Q: I’ve tried financial planning for clients and it really never succeeded.
One of the main reasons this service never took off for a client is that you really couldn’t make a change for the client. You prepared a great plan but then had to send them to a broker to actually implement the plan. They SOLD products to your clients or the clients walked out the door and never did anything. Year after year you bring up implementing the plan and their lives are busy year after year.
We feel throughout the years, our firm has helped advisors create wealth for their clients because it helped the client do something immediately with their most trusted advisor.
Q: I’m not a sales person…
Great, don’t change a thing. Clients and potential clients want professional advice. They are tired of being sold a product. We take the stance that if you educate the client on options then as a team you will decide together what is best for their interest.
Q: I’m busy already how can I possibly keep up on the market…
“Keeping up on the market“ and “finding the hot stock” – Academic research actually proves that the average investor will have a better return with a passive, diversified approach than actually buying and selling stock. Our system, based on a passive approach, allows us to spend minimal but most productive time on keeping the client diversified versus wasting time on buying, selling and watching the market.
Q: Does your firm talk to my clients and turn them over?
No, your clients are your clients. We provide a back office solution where we help you (the trusted advisor) behind the scenes by educating you on ways to advise the client, produce educational material to present to the client, etc…
Q: What do I have to do to get started?
You must have a series 65 license or have your CFP® or PFS designation.
Q: Are my clients still my clients?
Yes, we don’t have contact with your clients. Only you, the advisor, work with your clients. You can remove us from being back office support anytime you see fit by having the client sign transfer paperwork.
Q: How will my clients’ quarterly statement look?
The following quarterly statement is for example purposes only. Returns and fees shown may vary and may not be appropriate for your situation. Sample quarterly statement
Q: What costs are associated with my firm getting started with this service.
Very minimal. Your cost to be registered within the state is covered. Your expense is limited for fees to take the test (less than $300). You will also need to check with your insurance carrier for added professional liability coverage.
Q: What is the main reason I should do this within my firm?
Your clients!! That is the main reason why you should get into this area. Our clients need to be professionally educated on areas such as retirement planning, estate planning, wealth management concepts and you as the advisor have to ensure that your clients are taken care of properly. This is why you need to provide this service.
Q: What is the minimum investment for my clients?
There is no minimum, but you want to ensure that you are providing this service to people that take planning seriously and will routinely fund the accounts.
Q: What fees are charged to my clients?
We can provide a sliding fee schedule that suggests ranges based on the asset size of your clients or we can use your existing one. We can also administratively handle family and group discounts to your clients.
Q: How does Wealth Management LLC charge for its services?
We believe you and your clients are best served by adopting fee-only investment services, typically on a sliding scale, where your fee percentage drops as your client’s assets under management (AUM) increases. Wealth Management LLC charges a percent of the fees you collect, with the percentage decreasing as your firm’s AUM grows. We also have many vendor alliances, which allow us to “coop” expenses. We find it important for you to have the pertinent details you need to perform an informed cost-benefit analysis of our services. Therefore, we are happy to discuss our fee arrangements with you in more detail when you contact us.
Q: Does Wealth Management LLC hold my clients’ portfolios? Do I?
Neither your firm nor Wealth Management LLC holds your clients assets. Your clients grant a Limited Power of Attorney (LPOA) to have transactions transmitted on their behalf based on your instructions, but they remain in full control of their assets. Their individual accounts are held in their name at a quality custodian such as TDAmeritrade and Fidelity. Similarly, retirement plans are held at custodians who specialize in such services.
Q: Does Wealth Management LLC provide access to Dimensional Fund Advisors funds? How do I learn more about Dimensional?
If you have already heard of Dimensional Fund Advisors, you may be aware that Dimensional limits access to their funds via a select group of financial advisory firms. By working with Wealth Management LLC your firm automatically becomes a member of that select group. Over the years we have developed an outstanding working relationship with Dimensional and the extraordinary intellectual talents that comprise Dimensional’s leadership. Learn more about Dimensional under Alliances.
Q: Am I restricted to ONLY using Dimensional for building client portfolios?
No, you are not restricted. First, when you form a relationship with Wealth Management LLC, you remain an independent advisor. You are encouraged to use the investment vehicles you feel are in your clients’ best interest. Further, while Dimensional is currently a primary tool we recommend for constructing globally diversified, passively managed portfolios, it is by no means the only tool! Here are a few examples:
• For those whose fixed income requirements are significant, we can help you build custom bond portfolios to manage portfolio volatility and/or address income flow needs.
• If commodities are an appropriate holding for your client’s portfolio, we can advise you on funds that seem to offer the most accurate commodity exposure at the lowest cost.
• Relationships that offer Real Estate asset class funds (REITs).
Q: I have a question that does not appear here. How should I proceed?
Please contact us at your convenience!