What makes you different from bank trust departments, insurance companies, brokerage firms and other financial advisory firms?

My practice is different from brokerage firms, banks and insurance companies in a number of ways.  First, we provide advice on many aspects of our clients’ finances while at the same time, assisting them with the implementation of the recommendations.  That is what we call advice-driven solutions, as opposed to advice that is driven by the sale of a financial product.  
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Brokerage firms, banks and insurance companies typically do not supply this level of service. While other financial advisory firms may only offer a few of these services, it’s often in a superficial manner.  My practice, by contrast, offers its services in a very detailed manner and in limited numbers.  We do not have thousands of clients nor do we desire to, most of our clients come to us by way of referral from existing clients and by way of referral from other professionals that understand our service offerings.

How long have you been in business?

Our firm was founded in 2003, and we are a State Registered Investment Advisor in the state of Texas. I am a partner in the firm and also serve our clients as an advisor. As a co-managing member of the partnership, my obligation is to the success of the firm and all of its clients.  I have been active in the investments and financial planning business for over 13 years.  I have a B.S. in Personal Financial Planning from Texas Tech University.  In my career, I have been fortunate to have worked for and have been trained by the best in the business.  My areas of expertise include investment policy design and implementation, asset allocation strategies, investment analysis and research, retirement plan selection for businesses, pre and post retirement planning, retirement plan distribution methods, providing guidance to endowment and foundations and providing guidance to clients on other personal finance matters.

Why do you use Schwab Institutional, Fidelity Investments and TIAA-CREF and Pentegra Retirement Services?

The custodians provide our firm access to their institutional trading and operations services, access to investment products and services.  The custodians are separate, unaffiliated entities.  Schwab Institutional, Fidelity Investments, TIAA-CREF and Pentegra Retirement Services generally do not charge our clients for custody of their investment assets, but they (the custodians) are compensated by commissions or other transaction-related fees for securities executed through the custodians.

What are your fees?

Typically a client can retain my services for investment management and financial planning services or a limited consulting engagement.  Fees are agreed upon in writing prior to an engagement.  Fees may be comprised of hourly and/or asset-based fee depending upon the needs and preferences of the client.  Hourly fees are $150/hour.  The asset management fees are as follows:
1.25% of the first $1,000,000 under management
0.80% of the amount over $1,000,000 and below $1,500,000 under management
0.60% of the amount over $1,500,000 under management

What does “discretion” mean?

Discretion means having the standing authorization to trade in a client account.  This does not mean that I/we have custody.  Custody means that we would have possession of the client funds and therefore be subject to additional regulatory requirements.  Schwab Institutional, Fidelity Investments, and TIAA-CREF maintain custody.  Discretion simply means that we are able to make trades on behalf of a client.  It is important to note that the only authorizations the client gives to our firm is the ability to trade the account, to disburse funds to the client and if so authorized to debit the firm’s advisory fees directly from the client accounts.
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