Is it difficult to change from my Broker to Beacon Hill Investment Advisory? +
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.
Do I pay any fees when I leave my current Broker? +
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.
Which organization oversees and regulates your 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.
Does Beacon Hill participate in professional organizations? +
Clint and Mark are both members of the FPA (Financial Planning Association). You can visit their website at http://www.fpanet.org/ Other local memberships include: Columbus Chamber of Commerce www.columbus.org Dublin Chamber of Commerce www.dublinchamber.org
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 No funds can be withdrawn or transferred out in any other name except for your own.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.
Are your fees tax deductible? +
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.
Can you take my money? +
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 Doe cannot be transferred to Beacon Hill without your explicit consent.
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