Why do I need an advisor?
There are many reasons for working with an advisor. Lots of investors don’t have the time or the knowledge to maintain consistent oversight of their investments. An advisor will make sure your assets are properly diversified and working together to meet your goals. We can create a financial plan specific to your situation – a plan that will show you if you are saving enough to meet your goals, and give you specific steps to help you achieve them. We also help with coordinating all aspects of your financial life. Do you have the right amount of insurance? Are your assets titled according to your estate plan? Are your beneficiaries set up according to your wishes? Any misstep in these important areas can derail even the most well thought out plan.
Perhaps one of the most important reasons, and one that is often overlooked, is that we take the emotion out of investing. No matter what the market is doing, we can provide unbiased, unemotional oversight of your assets. Investors who do it themselves may get excited by a rising market and buy securities when prices are high, only to get scared when markets are dropping and sell these securities at lower prices. When markets start to come back, these individual investors may remain “on the side lines” during the first phases of recovery and miss out on potential growth. Working with an advisor can ensure that you remain invested and diversified during all market cycles, which leads to a much quicker recovery after a down market.
How are your fees structured?
There are only two ways that we get paid – financial planning fees and asset management fees. We are not affiliated with any insurance company or broker dealer, so we do not sell any products or earn any commissions.
Our fee for financial planning is a one-time flat fee of $1,000. (Full terms are outlined in our Financial Planning Agreement and our Form ADV Disclosure Document.) This includes everything involved in creating your plan - meeting time, information gathering, plan preparation, and presenting the plan to you.
Fees for asset management are based on total assets under management. You can learn more about our fee structure in our Form ADV. Fees include all aspects of working with us – meetings, emails, phone calls, portfolio oversight, quarterly performance statements, or updates to your financial plan. We welcome your questions and there is never an additional charge for meetings or phone calls.
Is it expensive to work with an advisor?
In some cases, working with an advisor may actually be cheaper than investing on your own. We use institutional mutual funds only available through investment professionals. These funds tend to have lower expenses than retail funds. We also use custodians that offer lower (or zero) trading fees on other securities. Over time, reduced expenses can have a positive impact on your wealth accumulation. Studies have also shown that investors who work with advisors earn a higher rate of return over time than those who invest on their own.
Do you have a minimum asset requirement?
Our minimum asset requirement is $500,000. Asset totals include accounts for all members of your family. If you have questions about whether you qualify, please give us a call. We’re happy to talk about how we might help you.
I don’t live near your office. Can I still work with you?
In addition to our office in Beverly, MA, we have advisors in Braintree, MA and in Bradenton, Florida, so we have opportunities for in person meetings outside of our home office. We are also registered with the SEC, so we can, and do, work with clients from all over the country. Lots of things can be handled by phone or email, but we understand that sometimes face to face is more effective. We often use Zoom for clients who can’t or don’t want to visit the office. This is very effective for annual review meetings and financial plan presentations. We can even show you all of the same documents we would share in person.
Can you work with my accountant or estate attorney if they have questions?
We work with other members of our clients’ financial teams all the time. In fact, we prefer it. Your tax strategy, your estate plan, and your portfolio should all complement one another. When all parties are working together on your behalf, you get a more favorable outcome.
