Q. I don't live in the state of North Carolina. Can I still be a PWA client?
A. Yes. PWA is registered in North Carolina because that is the location of our office. We are also registered in Minnesota, Texas, Georgia, and California since we have more than five clients from those states. We are allowed to serve clients in other states up to de minimus standards (legal minimums). In most states, that means we can have up to five clients without registering in that state. When required, we will register in additional states to serve additional clients. Please note that registration of an Investment Advisor does not imply any level of skill or training.
Q. How will we communicate if we don't live in the same area?
A. Communication is generally done via phone or email for those that live too far from our offices to meet in person. Administrative paperwork and data gathering forms are sent via email or regular mail. Consultations, question / answer sessions, plan reviews, and annual reviews are done via phone. Of course if clients are ever in the Charlotte area, they're always welcome to drop by!
Q. Is PWA certified?
A. Financial planning companies can't be certified. However, financial planning practitioners can. And yes, PWA's president, Tom Nardozzi, is a CERTIFIED FINANCIAL PLANNER™ professional or CFP® professional. Please reference this article for more information on why certification is important.
Q. How much do your services cost?
A. See the cost of each of our offerings as well as sample pricing scenarios on the summary page of the What We Offer section of the website.
Q. How long does it take to create a plan?
A. That depends on how complicated your situation is and how fast you can fill out the administrative and data gathering forms. Once we have all your information, we can usually deliver a completed plan in 1-2 weeks. Actual time spent on the plan is dependent on the complexity of the plan itself. Plans for couples take longer than plans for individuals because there are two people involved which may include two employers, two 401ks, two sets of IRAs, etc. Plans for self-employed generally take longer than plans for employees. Plans for people with a lot of assets spread across varying accounts and account types are more complicated than those with less. Most plans can be completed in 8-16 hours, but extremely complex situations could take longer. We will give you an estimate, including a maximum (do not exceed) number of hours prior to starting your plan so that you know the maximum cost ahead of time.
Q. As far as money management goes, how does that work? Do you gather assets or simply advise? If the latter, do you perform audits to make sure your clients are doing what they're supposed to?
A. We recommend that clients open an account in their name at Scottrade and provide PWA with trade-only access via a Trading Authorization agreement. Under this arrangement, PWA has no access to the actual funds, and no ability to make withdrawals, just access to trade and (if authorized by you) to debit the account for management charges. For clients that find pleasure in trading in the market too, we suggest a separate account with a small stake that they can manage on their own.
Q. What about access to 401k, savings, etc?
A. The way we charge for asset management is a % of the assets we're managing. Pure cash savings are usually outside of PWA's scope b/c we generally can't add value there (exception if we're holding cash in an investment account to temporarily avoid being in a portion of the market or as a fixed income component when appropriate). We generally recommend a 3-6 month emergency fund (50% in cash) as the standard cash component of client finances. We can also manage or advise on retirement plans either through a website, or we can instruct clients on what to do and let them execute the transactions, sending us periodic statements.
Q. This all sounds great, but I don't have many assets so there's no point to having a financial advisor, right?
A. No, that's not right. At PWA, we're not only looking to help those who already have established significant assets. We're also interested in clients that haven't achieved their goals yet, but who want to put some structure into a plan to get there. We take pride in helping everyone get from where they are today, to where they dream to be tomorrow. The earlier you start the better since if you don't already have significant assets, it's unlikely that you've made costly mistakes in setting up your finances. Bring us a clean slate and we'll help you build the assets over time. We're willing to invest in you, even if you don't have anything to invest with us initially. Get started now and as you do build wealth, you'll already have an advisor who knows you and you can trust.
If you have additional questions not covered above, please feel free to contact us at the locations provided below.
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This web site is only for the purpose of giving general information and is not intended to offer personal financial advice. Nothing in these pages shall be construed as offering or disseminating specific financial, retirement, estate, asset protection, tax, or legal advice. We DO NOT offer any type of investment advice on-line. Nothing in this entire web site shall be construed as an offer to sell, or a solicitation to buy regulated securities. Nothing contained in this web site shall be implied or construed as creating a planner / client relationship by virtue of your access to this site and you should not rely on any information contained herein to plan your estate or invest any of your assets. You will only be considered a Perpetual Wealth Advisors client by mutual agreement and only after you have executed a client agreement and retained our services. Perpetual Wealth Advisors, L.L.C. is a Registered Investment Adviser governed under the laws of North Carolina. In addition, the firm is registered in Georgia, Minnesota, Texas, and California (see our FAQ for information on serving residents of other states). Registration of an Investment Advisor does not imply any level of skill or training.