Frequently Asked Questions

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1. How often do you meet with your clients?
In the initial stages of our relationship we may meet several times until accounts are opened, transferred, etc. and the portfolio is fully invested. We typically meet with newer clients more frequently until they reach a desired comfort level. Some clients prefer quarterly meetings while others prefer annual meetings. Of course we can always meet in the event of a financial situation, event, or for any other reason.

2. What types of investments do you purchase for clients?
Although we have access to virtually every type of investment vehicle available, our normal course of action is to use actively managed mutual funds.  We believe mutual funds are the best way to build a diversified portfolio with professional management.  In certain cases we may purchase individual bonds, stocks, CD's, ETFs, etc.  In some cases we may incorporate the use of annuities to provide a stream of guaranteed income.  

3. Is there a fee for the initial consultation?
No. Nearly all of our new business comes as a result of referrals from existing clients or other professional advisors such as accountants or attorneys who understand the type of high quality client we are seeking. Given the chance to explain our process to prospective clients has resulted in a very high conversion rate of prospects to clients and we are happy to spend time on the front end to develop a long-term relationship. We ask prospective clients to complete the Wealth Planning Questionnaire in detail and submit it to us prior to our first meeting.

4. Can I view my accounts on the internet?
Yes, clients may request a secured password for internet viewing of their accounts and downloads into Quicken.  Our eMoney software (see our home page for a demo) is a valuable software to aggregate accounts we manage along with bank accounts, 401k plans, mortgages, etc.

5. Do I receive monthly statements?
Yes. LPL will send you a monthly statement for each investment account. In addition, Meridian Financial will periodically provide you with a comprehensive performance report to measure your progress towards meeting your goals.

6. How do you determine the appropriate portfolio for me?
Our first step is to review long-term retirement projections to determine the desired rate of return for your portfolio. After discussing your tolerace for risk we construct a portfolio in an attempt to allow you to meet your retirement goals with the least amount of volatility and risk.   The portfolio we recommend will likely be one of our Model Portfolios, which range from conservative to aggressive.  We construct and maintain these portfolios across 12-15 mutual funds in different asset classes and sectors.

7. How do you charge for your services?
Nearly all of our asset management relationships are on a fee basis. Our typical advisory fee is 1% of assets under management although it may be higher or lower based on the account size (fee schedule available upon request). We believe a fee-based approach aligns our interests with those of our clients. It allows us to focus on the long-term needs of our client in a consultative manner. Our clients understand the investment recommendations we make are with the intention of benefiting their portfolio and not for the sake of a short term commission.

We also have the ability to provide financial planning services for an hourly or flat fee in the event you do not need asset management or fall below our stated minimums.

8. Do you have an account minimum?
Our stated minimum for asset management is $500,000 however exceptions are always considered on a case by case basis. Our comprehensive approach is often most appreciated by higher net worth individuals or young professionals dealing with complex financial issues.  If your investment portfolio falls below our stated minimum, you may benefit from our financial planning services which can be charged on an hourly basis.

9. 10. Are my accounts insured?
LPL's SIPC membership provides account protection up to a maximum of $500,000 per customer, of which $100,000 may be in cash. Additionally, through Lloyds of London, LPL accounts have additional securities coverage of $99.5 million per customer, subject to a $500 million aggregate firm limit. Please contact your registered representative or refer to Frequently Asked Questions Regarding Excess SIPC Insurance for further information.