Don't compromise. Make sure any advisor you talk to can answer the following questions in a satisfactory, conflict free manner.
All answers below are from McCartney Wealth Management, LLC.
Are you registered with the appropriate regulators as an investment advisor?
Yes.
If so, have you provided me with all the disclosures required under those laws? Yes.
Do you or a related company have relationships with money managers that you recommend, consider for recommendation, or otherwise mention?
No.
If so, describe those relationships? N/A
Do you or a related company receive any payments from money managers you recommend, consider for recommendation, or otherwise mention?
No.
If so, what is the extent of these payments in relation to your other income (revenue)? N/A
Do you have any policies or procedures to address conflicts of interest or to prevent these payments or relationships from being considered when you provide advice to your clients?
Our policy is that we are only paid directly by our client and no one else, thereby resulting in the total avoidance of any conflict of interest.
If you are hired, will you meet with the client at least annually to determine whether goals and objectives are being met and review portfolio performance since inception and year-to-date net of all fees and expenses?
Yes.
Do you have any arrangements with broker-dealers under which you or a related company will benefit if money managers place trades for their clients with such broker-dealers?
No.
Do you consider yourself a fiduciary with respect to the recommendations you provide the client?
Yes.
If you are hired, will you acknowledge in writing that you have a fiduciary obligation as an investment advisor to the client while providing the consulting services we are seeking?
Yes, this is acknowledged in our agreement with you.
Will you provide a written Investment Policy Statement defining our investment strategy?
Yes.
What percentage of your clients utilize money managers, investment funds, brokerage services or other service providers from whom you receive fees?
None because we do not receive fees from any money manager, investment fund, brokerage service or other service provider. We only receive fees directly from our client.
Please explain in detail all fees being charged by you and all money managers, investment funds, brokerage services or other service providers utilized with respect to our account.
We charge 1% on the first $1,000,000 of assets under management, 0.75% on the next $1,000,000 and 0.5% (or ½ of 1%) on any assets over $2 million. For accounts in excess of $3 million, we charge a flat 0.5%. In addition our clients, on average, pay 0.3% to the fund companies. Basic financial planning fees are 15-20 basis points depending upon complexity.
Have you or your firm been subject to regulatory discipline by a regulatory body that governs you or your firm for unlawful or unethical actions?
No.