Frequently Asked Questions
We are dedicated to making the process simple to understand and easy for you to embrace. Once we have personally walked you through our process and methodology, you will be asked to sign a few standard agreements from our preferred broker, TD Ameritrade. Once signed, we will begin the process of transferring your assets (money) from your current broker to the TD Ameritrade platform. This is necessary for us to efficiently manage your assets. Once housed with
our preferred broker, we will begin building your optimal portfolio.
No, your current broker or advisor will most likely charge you fees to leave their platform. However, we have an arrangement with our preferred broker that your fees will be reimbursed upon transferring your account. Therefore, you will not incur any fees upon making the move to our firm.
Beacon Hill Investment Advisory, LLC is a Registered Investment Advisor firm regulated by the Ohio Securities Division. To verify the firm’s status as a Registered Investment Advisor, you may follow this link to the Security and Exchange Commission’s Website:
www.sec.gov (The Securities & Exchange Commission Website)
Click the link to “Research Investment Advisor Firms”. The following page will allow you to do an “Investment Advisor Search“, from here you can type in the firm name (Beacon Hill Investment Advisory). With the results, you can follow the links to the firm’s form ADV which is filed with the Ohio Securities Division and view the firm registration status.
What type of authority will Clint and Mark and Beacon Hill Investment Advisory, LLC have over my accounts?
As your Columbus, Ohio based Registered Investment Advisor firm, we will have the authority to:
1. Make transactions in your TD Ameritrade account in order to allocate your investments according to your financial plan and the Investment Policy we’ve created for you;
2. Request a check be sent directly to you, or a transfer be made to a like named account. No funds can be withdrawn or transferred out in any other name except for your own. For example,
our preferred broker will not send a check to “John Doe” (or Beacon Hill) at our request, but they will send one to you at our request.
3. Deduct management and investment advisory fees from your accounts per our Discretionary Agreement and Fee Schedule.
4. View online, monitor and maintain, and discuss your accounts directly with you.
IRS Code Section 212 states that investment advisory and financial planning fees incurred may be deductible as miscellaneous itemized expenses to the extent that they exceed 2% of your adjusted gross income. Other miscellaneous itemized deductions which fall into the same category are fees paid for a safe deposit box, estate planning fees, tax preparation fees, attorney and legal fees, and more. We encourage our clients to ask their accountant or CPA about the deductibility of fees.
No. Your portfolio will be custodied at our preferred
broker. They have implemented safeguards to protect you and your financial assets. For example:
1. Any money leaving your account will only be sent by
the custodian directly to your address of record and in
your name. Your address cannot be changed without your
written consent, and our preferred broker verifies your signature matches the one they have on file for such a request;
2. Any money transferred out of your account (with the exception of the firm’s investment management fees) may only be transferred into an account with the exact same registration. For example, an account in the name of John and Jane Doe may only transfer to another account in the exact name of John and Jane Doe;
3. They retain on file a copy of the Beacon Hill’s most current Form ADV.
4. Beacon Hill Investment Advisory is unable to take or accept any cash, checks, or securities from any clients. Checks must be sent directly to the broker-dealer. We are unable to forward checks on from clients to their accounts and will be forced to return them to the client.
The Firm maintains significant security measures to ensure the safety of your information. We have written policies and procedures for disaster-related recovery of information. These procedures ensure your information is recoverable and Beacon Hill will continue to service you if such events were to occur. We’re extremely confident with these systems and feel comfortable we are doing everything we can to protect our clients to the fullest extent available with the current technology. We are very concerned with computer security and take this matter very seriously.
In addition, the Firm shreds all client documents and tests our security measures on a regular basis.
Yes. By law we cannot disclose your private information to anyone but you directly. The only exception is if you have provided us written consent to exchange information with other advisors in which you work intimately (i.e. attorneys, accountants, and estate planners). Our client’s information is highly confidential and we take this matter very seriously.
No. We absolutely do not guarantee returns whatsoever. Rather, we put together solid and focused financial and retirement plans for our clients designed to help them achieve their goals. Financial and investment planning is more of an art than a science, and we cannot predict the future nor guarantee returns in any form.
Absolutely not. We will not take possession of cash or securities in any form for any time frame. We will however, provide you postage paid envelope to forward checks and/or securities directly to
our preferred broker, and of course provide you detailed instructions on the safest manner for funding your accounts.
TD Ameritrade is a member of the Securities Investor Protection Corporation (“SIPC”), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure is available on request at www.sipc.com.
Additionally, TD Ameritrade provides each client $149.5 million worth of protection for securities and $2 million of protection for cash through supplemental coverage provided by London insurers. In the event of a brokerage insolvency, a client may receive amounts due from the trustee in bankruptcy and then SIPC. Supplemental coverage is paid out after the trustee and SIPC payouts and under such coverage each client is limited to a combined return of $152 million from a trustee, SIPC and London insurers. The TD Ameritrade supplemental coverage has an aggregate limit of $500 million over all customers. This policy provides coverage following brokerage insolvency and does not protect against loss in market value of securities.
Our Firm fees are not only competitive; they’re a great value for the services provided and value added to your investment planning! We’re happy to provide you an apple to apples comparison of the fees you’re paying (or the proposed fees you’ll pay another advisor or broker) and our fees. Our fees are simple to understand and reasonable. Most importantly, we believe in FULL TRANSPARENCY – so we never hide or bury our fees like other brokers or “financial advisors” who are commission-based.
We provide every client the same attention to detail and excellent planning services. An average new client relationship takes approximately 15 hours in direct meetings, consultations, reviews, research, and behind the scenes planning and preparation – and that’s just the first few months of a relationship! In addition, we have significant fixed costs related to firmwide research that must be allocated as well. While large portfolios will likely require additional research, all clients receive a high level of service.
The $400,000 (investment management services) minimum household portfolio size ensures we can continue to provide each and every client of Beacon Hill Investment Advisory, LLC, the same high standard of excellence in financial advice, personal service, attention to detail and overall quality relationship.
Yes, as part of the financial and investment planning process, Clint and Mark can help ensure your investment assets, both through work related retirement plans and separately held at the directed custodian, will work together in concert.
To learn more about The Chartered Financial Analyst
(CFA) designation, click HERE.
To learn more about The Registered Financial Consultant
(RFC) designation, click HERE.
To learn more about Certified Financial Planner (CFP®) designation, click HERE.