Q: What is a fee-only fiduciary advisor?
A: Fee-only fiduciary advisors like Next Generation Wealth Management are regulated by the SEC and adhere to the Fiduciary Standard of Care, which means we always act solely in the client’s best interest when offering personalized financial advice. Fee-only means clients’ fees are our only source of compensation. For example, we do not earn commissions based on where we invest your money.
Q: Is my money safe?
A: All Next Generation Wealth Management accounts come with Securities Investor Protection Corporation (SIPC) coverage, which protects securities and cash of the customers of its members up to a maximum of $500,000, of which $250,000 may be cash. For additional information about SIPC coverage, including a brochure, please call (202) 371-8300 or visit www.sipc.org.
Q: Where is my money held?
A: We have partnered with two of the most trusted and popular brokerages in the country: Charles Schwab & TD Ameritrade. This means if your money is already there, your account will stay there. Both Charles Schwab & TD Ameritrade are members of the Securities Investor Protection Corporation (SIPC). Securities in your account are protected up to $500,000. If your account is at a different brokerage, we’ll open an account for you at Charles Schwab or TD Ameritrade. We chose these institutions because they have a wide array of investments, state-of-the-art technology, excellent client service, and low cost fees.
Q: Do you have a minimum account requirement?
A: You can establish a one-on-one personal relationship with one of our advisors at $200,000. If your current asset level is below this threshold, we encourage you to give us a call to discuss your situation and how we might best be of help to you.
Q: What type of clients do you work with?
A: We provide our services to individuals, families, businesses, trusts, partnerships, and corporations who wish to pursue long-term goals based on our investment philosophy.
Q: How do you charge for your services?
A: We provide fee-only investment management with our fee based on a percentage of the assets that we manage. Our fee schedule is tier-based with breakpoints at which your fees decrease on additional assets.
Q: What happens to my current holdings if I become a client?
A: We first analyze your existing portfolio and discuss our recommendations with you. Our overall goal is for your portfolio to be consistent with your objectives in the most cost-effective manner. Ways we achieve this goal are to:
If existing holdings lend themselves to these objectives, we leave them in place. If changes are warranted, we work with you to ensure any transitions occur as cost-effectively as possible.
Q: Do you sell my personal information?
A: We won’t sell your personal information — ever. As a fiduciary advisor, we value your trust and safeguard your confidential information. Nor do we accept commissions or compensation of any kind based on the financial products — or service delivery partners — we recommend.