♦What is a Registered Investment Advisor? A Registered Investment Advisor is a firm or individual, registered with the Securities and Exchange Commission or with a state, that provides investment advice to others on a professional basis for compensation. Unlike brokers, advisors are held to a strict fiduciary standard. This means they are required to act in the client's best interest at all times, as well as disclose any potential conflicts of interest that may exist.
♦What is a CFP®? A CFP®, or CERTIFIED FINANCIAL PLANNERTM, is a professional who has met certain qualifications as established by the Certified Financial Planner Board of Standards. There are four specific requirements CFP® certificants must meet: Experience, Education, Examination, and Ethics. Three years of full-time relevent financial planning experience are required to become certified. Candidates must also study specific designated financial topics through a board-approved course and pass the CFP® Certification Exam. Certificants are expected to display the principles of integrity, objectivity, competence, fairness, confidentiality, professionalism and diligence when working with clients.
♦What types of services do you offer? Our primary service is providing investment advice to our clients. The structure of our business gives clients the ability to trade in various types of securities without incurring separate brokerage commissions and charges. Additionally, if and when requested, we may also provide limited financial planning advice, such as retirement and college savings plan analysis. Please note: The scope of any financial planning and consulting advice to be provided depends upon the specific requests and needs of the client. Heritage does not serve as an attorney, accountant, or insurance agent. Heritage does not prepare legal documents or tax returns, nor does it sell insurance products.
♦How are you compensated? We are compensated through a "wrap-fee" agreement with our clients. Under the terms of this agreement each account is charged a fee quarterly, in advance, based upon the market value of the assets in the account as reported by the account custodian on the last day of the previous quarter. Heritage Asset Advisors Ltd., LLP is then responsible for any and all trading costs or commissions. This arrangement allows the client to receive both investment advisory services and the execution of transactions in eligible securities for a single, combined annualized fee.
♦Who will maintain control of my assets and where will they be held? Client accounts are held at an outside qualified custodian. In recommending a custodian, Heritage considers the range and quality of the products the custodian offers, the technical support provided, execution quality, commission rates, the financial responsibility and responsiveness of the custodian to both the firm and its clients. We are granted the authority to deduct quarterly fees and trade on the client's behalf through a limited power of attorney. Beyond these authorizations, we do not have any access to client assets.
♦Can I view my account online? Yes. Online account access is available through each individual custodian. Please contact us directly if you have questions about who your custodian is or how to set up online services with them.