Please visit the guide to selecting a financial advisor under the Resources tab on our website for a list of tough questions to ask a potential financial advisor to determine if he or she would be a good fit to work with.
We follow a 5 step financial planning process that starts with a discovery meeting where we learn about your specific situation and identify your goals and objectives for your successful growth and allocation of your resources. Next, we develop an asset allocation plan that is tailored toward meeting these goals. We then formulate a financial plan and/or Investment Policy Statement (IPS), which will serve as the blueprint for our process together. Finally, we implement the policy and build your individualized portfolio and will continue to monitor and supervise your situation and adjust as needed.
Our services and our client relationship management process are targeted towards those individuals who recognize the value of taking a holistic approach towards the management of their wealth. Investment performance is but one “leg of the stool” along with proper risk management, tax planning, estate management and careful considerations of many uses that impact our lives and our finances.
Barnstone charges a fee based on assets under management. We may, at our discretion, credit a portion of the ongoing asset-based fee if the client is charged an upfront financial planning fee and remains a client. Fees are standard, in line with the current fee schedule, but are negotiable, and therefore, may be changed depending on the characteristics of the case. These characteristics include, but are not limited to: the type of client account, the complexity of the case, the amount of initial and ongoing service which may be required, and the probability of future additional contributions.
It is our belief that a financial advisor who has a financial stake in the course of action that he/she recommends to a client faces an inherent conflict of interest and cannot be considered objective and unbiased. Barnstone Advisors is not a seller of any financial products. We receive no referral fees from third parties, no upfront, back-end, or 12b-1 (mutual fund marketing) fees, no insurance or annuity commissions, no award trips, or any other material or significant incentives. The only compensation we receive comes directly from clients for the services we provide.
The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor. The advisor, or any part in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client’s business.
Before recommending any investment for a client, we consider the current economic conditions, the outlook for the specific asset class, the total expenses, and the fit for the individual client given his or her objectives and tolerance for risk. As fiduciaries for our clients, we seek to obtain the most appropriate investment vehicles to meet your objectives.
The fees for financial planning services are based on the actual time involved in researching and analyzing your current situation and providing specific recommendations and implementation assistance, if needed. A financial plan’s cost will vary from client to client based on the specific needs and complexity of the situation.
We primarily use no-load mutual funds, some individual stocks, bonds, Exchange Traded Funds (ETFs) and various alternatives that are appropriate with a client’s objectives, risk tolerance and time horizon.
Your portfolio is reviewed at least quarterly to make sure it is in line with the designed allocation. We will also review your portfolio when you deposit or withdraw cash, if we deem an allocation change necessary, or if an investment in your portfolio no longer meets our criteria.
As your advisor, we are here to help you accomplish your goals. We provide quarterly reports and planning updates that are designed to show you where you stand on the road to meeting your goals. We also meeting with each client at least annually to review your progress and discuss your objectives moving forward.
Please contact our office and we send you some initial interview questions to get ourselves better acquainted with your specific situation and how we can help.