Frequently Asked Questions...
How do I schedule an appointment?
What can I expect during our first meeting?
What is your wealth management process?
What are your fees?
Do you have account size minimums?
What is your “culture”?
What is the average rate of return on your clients’ accounts?
What is your investment philosophy?
Do your dogs come to work with you?
schedule
How do I schedule an appointment?
You may contact our office at 410-732-2633 or via email at partnershipwm@lpl.com. My administrative assistant, will gather some information from you and send you our Financial Information Questionnaire. After we receive the questionnaire, we will call you to schedule a meeting.
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What can I expect during our first meeting?
Our first appointment may last up to 1½ hours. During our meeting, we will discuss your goals and your completed Financial Information Questionnaire. You will learn about Partnership Wealth Management, the types of clients we typically serve, our wealth management process, and fees. We will also take time to answer any questions you have.
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What is your wealth management process?
We pride ourselves on providing advice for all your financial matters. The process starts by having you prepare a snapshot of your current financial picture. We provide you with a packet and instructions for the materials we require. After we receive the completed packet, we will take three to four weeks to complete a comprehensive financial plan. Our recommendations include strategies for your day to day finances, investment management, goal funding, retirement needs, insurance, income tax, and estate planning. This advice is custom and may include additional areas of focus if your situation warrants attention to other topics.
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What are your fees?
This fee ranges from 1% to 1½% depending on the size of your portfolio. Other costs may apply for financial plans, insurance, and other products used. We will discuss your asset management and financial planning fees during your initial meeting. All fees are charged through LPL Financial.
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Do you have account size minimums?
While our new clients typically have at least $500,000 of investable assets, we do not have an established account minimum. During our first meeting, we take the time to determine if the prospective client will make a good fit for our practice regardless of account size. We have respectfully turned away wealthy people whom we feel would not be compatible with our culture. We also have wonderful clients who have assets below our average new client.
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What is your “culture”?
At Partnership Wealth Management, LLC, we believe in a comfortable, professional environment. At all times our clients are treated with respect and in a professional manner. We also want all of our clients to feel at ease and comfortable asking questions when they meet with us. We have a down-to-earth approach and look for clients of strong character and values.
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What is the average rate of return on your clients’ accounts?
We cannot provide an accurate figure for our returns. First, we believe that the value we provide through comprehensive wealth management extends far beyond investment performance. We have helped clients save tens of thousands of dollars through lending, income tax, and estate planning strategies. Second, we have clients of all ages. To provide a younger, aggressive client with the returns of a client base that includes older, conservative clients would not be a fair comparison. Third, we hold cash and cash equivalents for many of our clients. The return on those investments is low enough to dilute the “global” portfolio return.
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What is your investment philosophy?
We create a custom asset allocation and investment approach for each client. Typically we utilize a buy and hold approach with a select group of investments (we have an inventory of approximately 30 investments) that we rebalance annually. By keeping the investment inventory low, we are able to focus our attention closely on the investments we hold. When necessary, we will make adjustments with the investments and/or approach.
No strategy assures success or protects against loss.
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Do your dogs come to work with you?
Yes! Woody brings his dogs, Fenway & Roxy, to work with him every day. He feels privileged to be able to spend all day with them. We often call Fenway the Vice President in Charge of Security because he is the first to alert us when someone enters the office. Roxy is our meeter greeter. During appointments, they are kept in Woody's office to avoid disrupting our meetings.
If you are allergic to dogs or would prefer that Fenway & Roxy take a day off, please let us know prior to your meeting. We will be more than happy to accommodate your needs.
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